The Daily Star: Internet Edition Sat. February 25, 2006

Vol. 5 Num 620

Sat. February 25, 2006


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Business

Delhi, Yangon eye gas pipeline sans Dhaka
India and Myanmar are exploring the possibility of laying a gas pipeline through the northeastern territory, bypassing Bangladesh.

Bangladesh makes new record in tea production
Bangladesh produced a record amount of 60 million kg tea in last year. Tea production exceeded target for the first time last year, according to tea industry sources.

Prices of essentials spiral
The prices of broiler chickens, beef, milk powder, including baby food, and fine quality rice increased in the city's retail market yesterday compared to the previous week.

GDP can grow at 10pc if parties shun confrontational politics
Seminar told
The gross domestic product (GDP) of the country can grow even at a rate of 10 percent in the coming years if parties discard confrontational politics, said speakers at a seminar in Dhaka.

Reuters net profit up 25pc in 2005
Reuters Group PLC, the news and financial data provider, on Thursday reported a 25 percent increase in net profit last year as earnings were boosted by the sale of its majority stake in the electronic

Timber traders call 2-day hartal from tomorrow in Rangamati
Timber Traders 'Sangram Parishad' (action council) has called for a two-day dawn-to-dusk hartal in the hill district beginning on Sunday (Feb 26) to realise their 10-point demand.

Indian airlines to buy 40 Airbus planes
Continuing the spurt in buying of planes by Indian air carriers, two more low-cost airlines ordered 40 Airbus A320 and 321 aircraft for a total of $ 2.35 billion.

Developing nations must cede more in trade talks
Says French minister
Developing countries such as China need to make greater concessions in global free trade talks to match those already made by the European Union, France's minister for foreign trade said Friday.

Indian Railways posts record revenue surplus
Indian Railways, which five years ago was on track to bankruptcy, announced a record financial surplus Friday and a slew of fare cuts and massive spending on new lines in a populist budget.

EU shoe action breaches fair trade: China
China said Friday a European Union plan to impose an anti-dumping duty on imported Chinese shoes breached fair trade principles and "smells of protectionism".

Japan, India ink treaty to avoid double taxation
Japan and India signed an agreement Friday to avoid double taxation, the first revision of their tax treaty since 1989, in a bid to boost slow-growing bilateral trade.

Oil prices rise in Asian trading
Oil prices rose in Asian trade Friday, bouncing back from recent losses as the market continued uneasy at developments in Iran and Nigeria, dealers said.

Tata Tea won't uproot from Sri Lanka
Indian tea giant Tata Tea on Wednesday said it would not quit its plantation venture in Sri Lanka, despite a strategy to exit from the business in India.

Weekly Currency Roundup
Feb 19-Feb 23, 2006
Local FX Market
Demand for US dollar was high in this week and USD remained bullish against Bangladeshi taka.

British economy grows 1.8pc in 2005
The British economy grew by 1.8 percent last year, the slowest pace since 1992, official data confirmed on Friday.

Navana launches energy saving lamps
Navana Group launched energy saving lamps at a function in Dhaka yesterday.