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The efficient allocation of jobs to grid resources is indispensable for high performance grid-based applications. The scheduling problem is computationally hard even when there are no dependencies among jobs. Thus, we present in this paper a new tabu search (TS) algorithm for the problem of batch job scheduling on computational grids. We consider the job scheduling as a bi-objective optimization problem consisting of the minimization of the makespan and flowtime. The bi-objectivity is tackled through a hierarchic approach in which makespan is considered a primary objective and flowtime a secondary one. An extensive experimental study has been first conducted in order to fine-tune the parameters of our TS algorithm. Then, our tuned TS is compared versus two well known TS algorithms in the literature (one of them is hybridized with an ant colony optimization algorithm) for the problem. The computational results show that our TS implementation clearly outperforms the compared algorithms. Finally, we evaluated the performance of our TS algorithm on a new set of instances that better fits with the concept of computational grid. These instances are composed of a higher number of -heterogeneous- machines (up to 256) and emulate the dynamic behavior of these systems.