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The capital market regulator has failed to play its due role in protecting interests of the retail investors and handle the stock market, says a former Bangladesh Bank governor. "It is the failure of the regulatory body [Securities and Exchange Commission] as it did not exercise its independent authority," former central bank governor Dr Salehuddin Ahmed told a discussion in the city on Sunday. Economic Reporters' Forum (ERF) organised the discussion on monetary policy management and Bangladesh Bank. "I do not understand why the finance minister keeps on saying that he made some mistakes. It is the duty of the regulator to maintain stability in the market. The SEC's approach is reactive rather than being proactive, and that is its main problem," he said. He also commented: "Before taking any decision, it should have analysed the whole situation and its impact, but it has changed its policy as a short-term remedy. A policy may favour one and hurt ano

Two Bangladeshi cattle traders, who were tortured and left unconscious by the Indian Border Security Force (BSF) in border areas of the district's sadar upazila, are fighting for life at Satkhira Sadar Hospital. Of the two, Rafiqul Islam, 35, is from Sultanpur of Satkhira town and Fazlur Rahman, 45, from Mahmudur village of sadar upazila. On Thursday night (January 20, 2011), the BSF men of Kaijuri camp caught Rafiqul when he and a group of fellow traders were returning to Bangladesh with cattle through Kaijuri-Baikari border, locals said. Rafiqul was beaten up and left inside Bangladesh territory around 3:30am yesterday. Bangladesh Border Guard (BGB) of Baikari camp sent him to the hospital. In another incident the same night, the BSF men of Panitor camp caught Fazlur, as he and some other traders were coming to Bangladesh through Panitor-Gazipur border. A team of BGB from Baikari camp found him lying unconscious on Bangladesh side of the border early yesterday and rushed hi

BP Plc and Russia's state-controlled Rosneft agreed to a share swap under which they plan to jointly explore for offshore oil and gas in a deal that gives the UK company access to areas of the Arctic previously reserved for Russian oil companies. BP, recovering from its Gulf of Mexico oil spill disaster , will swap 5 percent of its shares, valued at $7.8 billion, for 9.5 percent of Rosneft in an agreement that immediately raised concerns about U.S. economic security from at least two American lawmakers and criticism from environmentalists. The deal covers huge areas of the South Kara Sea in the Arctic that BP said could contain billions of barrels of oil and gas and had been previously off limits to foreign companies. The pact, which is expected to be completed in a few weeks, highlights a rebound in relations with Moscow both for BP and its Chief Executive Bob Dudley , who was forced to flee Russia in 2008 after heading BP's Russian joint venture, TNK-BP, which is half-ow

Tunisia's President Zine al-Abidine Ben Ali has stepped down and fled away to Saudi Arabia amid widespread protests on the streets of the capital Tunis of the country on Friday January 14, 2011.  Thousands of people had been staging demonstrations against the President of the North-African country protesting economic crises, higher unemployment rate, and  food and fuel prices upsurge, sources said. However, Mr. Ben Ali had to leave the power after 23 years in power in a state of emergency in the country in the face month-long protest. He took shelter in Saudi Arabia with his whole family after France defied to give shelter for Mr. Ali.  Mr. Ali took all out ways to keep hold of power. He also smashed his cabinet earlier to restore law and order situation in the country and tried to reconcile with the protesters.    In a televised address, Prime Minister Mohammed Ghannouchi said he would be taking over. A state of emergency was declared earlier, as rumbling nationwide protes

I ndia plans to reduce its security forces by a quarter in the Himalayan region of Kashmir to ease conditions for people in one of the world's most militarised areas, a top official said on Friday, 14th January 2011. The unexpected announcement on Kashmir by Home Secretary G.K. Pillai is intended to rebuild fractured public goodwill after a violent uprising by young people in the Muslim-majority region last year. New Delhi faced one of the biggest challenges to its grip on the divided and disputed territory last summer when more than 100 people were shot dead by security forces during violent demonstrations. Speaking at a university seminar on Kashmir in the Indian capital, Pillai said the aim was "to pull out 25 percent of troops from populated areas in the next 12 months as a confidence-building measure." The presence of hundreds of thousands of paramilitary and army troops in Kashmir -- India does not disclose official troop figures -- is seen by local politic

The Taliban are ready to drop their ban on schooling girls in Afghanistan , the country's education minister  said on Friday, 14th January 2011. Farooq Wardak told the UK's Times Educational Supplement a "cultural change" meant the Taliban were "no more opposing girls' education". The Taliban - who are fighting the Kabul government - have made no public comment on the issue. Afghan women were not allowed to work or get an education under the Taliban regime overthrown in 2001. Mr Wardak made his comments during the Education World Forum in London. He told the TES: "What I am hearing at the very upper policy level of the Taliban is that they are no more opposing education and also girls' education. "I hope, Inshallah (God willing), soon there will be a peaceful negotiation, a meaningful negotiation with our own opposition and that will not compromise at all the basic human rights and basic principles which have been guiding us to provi

A fire has swept through a prison in the Tunisian resort town of Monastir , killing at least 42 people amid continuing unrest following the removal of President Zine al-Abidine Ben Ali. Looting hit the suburbs of the capital Tunis after he fled the country on Friday.  Troops are now patrolling the city centre and a state of emergency is in force. Prime Minister Mohammed Ghannouchi has said his priority is restoring order. Mr Ghannouchi also said he would hold talks with opposition parties. A doctor at Monastir hospital told the BBC it had received 42 bodies so far following the prison fire. The identities of the victims and the cause of the fire are still unclear. An eyewitness in the city, about 160km (100 miles) south of Tunis, told Reuters news agency: "The whole prison is on fire, the furniture, mattresses, everything." In Tunis the main thoroughfare, Avenue Habib Bourguiba, was blocked by security forces after an overnight curfew was lifted. Troops and tanks are