The Daily Star: Internet Edition Wed. March 09, 2005

Vol. 5 Num 278

Wed. March 09, 2005


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Business

BB unveils steps to check volatile call money market
NBFIs won't be allowed to borrow more than 15pc of paid up capital from July 1
The non-bank financial institutions (NBFIs) will not be allowed to borrow more than 15 percent of their paid up capital from call money market with effect from July 1, 2005.

Lake City Concord opens
Tk 4.5 lakh apartments available
A leading real estate company yesterday inaugurated a satellite township on the outskirts of Dhaka city, offering the cheapest apartments in Bangladesh.

Port efficiency needed to make RMG competitive
Asia Foundation seminar told
Speakers at a seminar yesterday underscored the need for improving efficiency at ports to help make local garments competitive in the post-MFA era.

Skill, tech seen vital to face quota-free era
Speakers at a function here yesterday underscored the need for simultaneous application of skill and technology in the garments sector, the country's highest foreign exchange earner, to face the challenges

Local railway sleeper cos seek govt help to tap export potential
Local railway sleeper manufacturers yesterday sought government help to export the product.

Embargo on log transportation
Rangamati timber traders form human chain today
Timber traders and tribal tree planters of Rangamati will form a human chain in the town today demanding reopening of log transportation from the hill district.

Lipton tea to be available at Fantasy Kingdom
Lipton tea, a product of consumer goods manufacturer Unilever Bangladesh Ltd, will be exclusively present at theme park Fantasy Kingdom from now on.

India plans biggest tax reform
India will push ahead with its most-ambitious tax reform ever next month even if some of its 28 states fail to sign up, the head of a committee of state finance ministers said in reports Tuesday.

Siemens plans cost-cutting in mobile phones division
German electronics giant Siemens said on Tuesday it was planning to cut costs in its phone mobile handsets division, where it is losing both money and market share.

Honda sees15pc sales growth in India
The Indian subsidiary of Japan's Honda Motor on Tuesday forecast its sales of passenger cars would grow 15 percent in the 2005-2006 fiscal year due to the country's strong economic growth.

Oil slips but holds over $53
Oil prices nudged lower on Tuesday as US crude stocks looked set to rise for the fourth week in a row, but held above $53 on growing signals that Opec was unlikely to boost output to tackle soaring energy

New GM (projects) of Power Grid Co
Md Ruhul Amin has recently been made general manager (chief engineer) of projects of Power Grid Company of Bangladesh Ltd.

UAE-Bangladesh Investment Co MD awarded with fellowship
SM Akbar, managing director of UAE-Bangladesh Investment Company, has recently been awarded with fellowship by Chartered Management Institute of London, which is the highest professional recognition of

US kicks off FTA talks with UAE
The head of the US team which kicked off talks on a free trade pact with Emirati counterparts Tuesday brushed off Saudi concerns that such bilateral deals hinder Gulf economic integration, saying Riyadh's