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PIA BD flight operations stop till March 10

Pakistan International Airlines suspended flights operations to Bangladesh on Friday till March 10, owing to harassment of crew and passengers by Bangladeshi security agencies. pia“We have suspended flight operations to Bangladesh till March 10,” a PIA spokesperson said, according to Express News. Citing harassment of PIA crew and passengers as the reason for suspension, the spokesperson added: “The protest will continue till action is taken.” On Thursday, Foreign Office spokesperson Tasneem Aslam said they have contacted the Bangladesh High Comm...

European Commission proposes dramatic energy market reforms

Long-term goal is to secure, sustainable, competitive, affordable energy for all of Europe’s citizens while transitioning to a low-carbon, climate-friendly economy. The European Commission today set out its strategy to achieve what it terms a “resilient Energy Union with a forward-looking climate change policy.” The proposal sets out — in five interrelated policy dimensions — the goals of an energy union. The initiative also entails the detailed steps the Juncker Commission will take to achieve it, including: new legislation to redesign and overhaul the electricity market; ensuring more transparency in gas contracts; substantially developing regional cooperation as an important step towards an integrated market, with a stronger regulated framework; new legislation to ensure the su...

ConocoPhillips-Statoil jt venture set to get its way

At long last, the joint venture of US oil major ConocoPhillips and Norway’s Statoil looks set to be awarded all three of the deep sea blocks in the Bay of Bengal it desires, with the Cabinet Economic Affairs Committee slated to consider their proposal in its meeting on Wednesday. gasolinEarlier, the government’s decision was to award only two blocks to the US-Norwegian JV. But now the government seems to be backtracking from its earlier stance that no single company or joint venture will get more than two blocks in the deep sea. According to...

4 gas cos `dodged’ Tk 19,594cr in taxes

The country’s tax administration has demanded a total of Tk 19,594 crore from four major gas distribution companies, alleging that the companies dodged the amount in value-added tax and supplementary duty from 2009 to 2014. gasOfficials of the National Board of Revenue told that Titas Gas Transmission and Distribution Company, Karnaphuli Gas Transmission and Distribution Company, Bakhrabad Gas Transmission and Distribution Company and Jalalabad Gas Transmission and Distribution Company dodged the taxes between July 2009 and March 2014, reports the New ...

Ship recycling project begins

An agreement between the International Maritime Organization (IMO) and the Government of the People’s Republic of Bangladesh has been signed for the parties to collaboratively improve safety and environmental standards in the country’s ship-recycling industry. ship breakingA Memorandum of Understanding formalizing the cooperation between the two was signed by Nicolaos Charalambous, Director, Technical Cooperation Division, IMO and Md. Ashadul Islam, Additional Secretary, Economic Relations Division of the Ministry of Finance of the G...

Bangladesh tenders to sell 170,000 bbls naphtha

Bangladesh Petroleum Corp (BPC) has issued an international tender to sell 170,000 barrels of naphtha for March 11.13 loading from Chittagong, a company official said on Monday. napthaThe tender will close on Feb. 18, with validity up to Feb. 26. The offer came at a time when the Asian naphtha crack extended losses for a third straight day on Friday to reach its lowest since Jan. 30, dragged down by the stronger Brent crude price. State-owned BPC sold a same-size cargo to Socar Trading at premiums of $3.29 a barrel to Singapore quotes for Nov. 27-29 l...
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