latest world business news

UK oil giant BP and Indian company Reliance Industries have announced a "transformational" strategic oil and gas partnership in India.The deal is expected to result in a total combined investment in India of $20bn, according to the companies' joint statement. The companies will form a 50:50 joint venture for sourcing and marketing energy in India. The deal gives BP a 30% stake in 23 oil and gas blocks owned by its new partner including 19 off India's east coast. In return, the UK firm will pay $7.2bn (£4.4bn), plus up to a further $1.8bn in future performance-related payments. "This is a clear reflection of the way in which believe that the energy industry is developing," said BP's chairman, Carl-Henrik Svanberg. He said that the company predicted global energy consumption would rise by 40% between now and 2030 , with most of the growth coming from emerging markets such as India. "This has huge significance for India's economic devel...

Two executives at Alibaba, China's largest e-commerce group, have resigned after a rise in fraudulent sales. The firm said an internal investigation had discovered more than 1,000 fraud cases in both 2009 and 2010. The pair, chief executive David Wei Zhe and chief operating officer Elvis Lee Shi-Huei, were not involved in the frauds but were taking responsibility for a "systemic breakdown". The company has paid out $1.7m (£1.1m) as a result of the claims. Most trades involved offering popular consumer electronics at bargain prices with a low minimum order value to entice buyers, Alibaba said in a statement. The average value of the fraudulent claims was less than $1,200. Alibaba's chairman and founder, Jack Ma, said the company had picked up a spike in the number of fraudulent transactions conducted on its site by so-called China Gold Suppliers members. These members undergo more rigorous checks on their reliability and are supposed to be the most trustworthy ...

Brent crude had jumped 2.6% by late afternoon to $105.2 a barrel, its highest level since before the 2008 financial crisis. European energy companies are evacuating some staff from the country, which is a major oil and gas producer for the European market. Sources said, the price of oil has risen in response to the ongoing turmoil in Libya for last five days. Meanwhile shares in Italian oil firm ENI - which is active in Libya - ended Monday trading 5.1% lower. The Italian company said on Monday that its operations were unaffected by the violence. Italy buys about one-third of Libya's oil and gas exports, making it the country's biggest customer by far. ENI has been buying gas from Libya for decades, and is at the centre of a close political relationship between the two countries, according to one analyst. In 2008-09, the Libyan government had considered buying an up-to- 10% stake in ENI , although the investment did not go ahead. Some 13% of the company's reven...

Human Rights Watch says at least 233 people have been killed in Libya since last Thursday, 17 February 2011 in the the ongoing protest against Colonel Muammar Gaddafi's rule in the country. The US, UK and French governments are among those condemning the harsh treatment of protesters. But Italy, the former colonial power in Libya, has close business links to Tripoli and voiced alarm at the prospect of the Gaddafi government collapsing. "Would you imagine to have an Islamic Arab Emirate at the borders of Europe? This would be a very serious threat," said Foreign Minister Franco Frattini. The head of the Arab League, Amr Moussa, described the protesters' demands as legitimate, calling it a "decisive moment in history" for Arab nations.

Culture and Heritage in Bangladesh: Bangladesh a very enriched country in culture and life style. Bangladesh has an history of more than 1700 years. Peoples from different corners of the world like Persian, England, Dutch, Arab, Saudi Arabia, Iran came here for the eras and they started also to live here with local people. However, with the combination of all it has got a mixed human culture and practice. They have many establishments bearing the sign of aristocracy of the country since early of Christian era.

Tourism in Bangladesh: Natural beauty in Bangladesh like the scenery of Cox's Bazar for longest sea beach of the world, beauty of Bandarban for safe Hill Tracts, forests, species, water fall etc., Beauty of Rangamati like Captai lake, hills, indigenous people etc. and the beauty of Sundarban, the largest mangrove forest of the world. Royal Bengal Tiger, the lone species of tiger available here famous in the world and also part of world heritage.

Beautiful bangladesh You can take a glimpse here on Bangladesh. The natural beauty and peoples achievent have made the country very delighted one. You may make your life enjoyable just moving on here from Dhaka to Chittagong and then extending your journey to Cox's Bazar. Another very attractive site is the Sundarban. Courtesy: Tourism Department, Bangladesh