The Daily Star: Internet Edition Wed. May 23, 2007

Vol. 5 Num 1057

Wed. May 23, 2007


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Business

Pre-budget Roundtable
Expansion of social safety net programme demanded
Experts suggest market intervention to contain essentials' prices
The government should expand social safety net programmes in the coming budget to ease the impact of rising inflation on the poor, suggested Akbar Ali Khan, a former finance adviser to the caretaker government.

Plastic goods makers want import duty cut
Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) yesterday urged the government to cut import duties on plastic intermediate products from 25 per cent to 15 per cent in the upcoming

Shipping Corp gets nod to raise paid-up, authorised capital
The state-owned Bangladesh Shipping Corporation (BSC) yesterday received approval from the Securities and Exchange Commission (SEC) to increase its paid-up and authorised capital.

EU denies pressing ex-colonies on trade
EU Trade Commissioner Peter Mandelson on Tuesday rejected accusations of piling pressure on poor, former European colonies in tough negotiations over new trade pacts.

Oil prices steady above $66 in Asia
Oil prices were little changed Tuesday after jumping above $66 a barrel in the previous session on worries about gasoline supply. Light, sweet crude for June delivery was flat at $66.

Indian firms threaten 2-hr suspension of Benapole trade
A platform of eight export-import organisations of India has threatened to suspend all sorts of commercial activities for two hours through Benapole port from today.

Bank Asia's cardholders to use DBBL's ATM, POS
Bank Asia Ltd, Dutch-Bangla Bank Ltd (DBBL) and Electronic Transactions Network (ETN) Ltd have signed an agreement under which Bank Asia's cardholders will have access to ATMs (automated teller machines)

Five-star Westin Dhaka opens June 20
The Westin Dhaka, the new five-star luxury hotel in Bangladesh, starts its journey on June 20, says a press release.

India, Mexico ink trade deal
India and Mexico have signed a ten-year bilateral investment promotion and protection agreement to promote two-way flow of investment and allow free repatriation of funds by investors.

New executive president of Islami Bank
M Fariduddin Ahmad has been appointed executive president of Islami Bank Bangladesh Ltd, says a press release.

Local firm to set up $7.725m RMG accessories plant in Comilla EPZ
Bangladesh Taiwan Textile and Accessories Limited will set up an accessories manufacturing plant in Comilla Export Processing Zone. This cent percent local company will invest US$ 7.

New country manager of Etihad Airways
Etihad Airways Bangladesh has recently appointed K Ashraful Kabir as its new country manager, says a press release. He will replace the outgoing country manager Jill R Errington.

TVS Auto motor show from today
TVS Auto Bangladesh Ltd starts a 30-day nationwide motor show today to promote its two new motorcycle brands-- TVS star and TVS GLX.

Trade deficit dogs US, China strategic talks
The United States and China begin high-level talks Tuesday on key economic issues expected to be dominated by American concerns over a burgeoning trade deficit with the Asian giant.

Citibank holds seminar on int'l trade management
Citibank NA Bangladesh recently organised a seminar on 'International Trade Management' as part of its global trade initiatives and client education, says a press release.

Dollar firms against euro
The dollar firmed against the euro and the yen on Tuesday, as dealers set aside evidence of rising investor confidence in Germany and looked instead to easing concerns over the US economy.

Currency