The Daily Star: Internet Edition Tue. May 29, 2007

Vol. 5 Num 1063

Tue. May 29, 2007


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Business

Bad loans up 5.59pc in 3 months
The volume of bad loans in the country's banking system has increased by Tk 1,125 crore or 5.59 percent in three months to reach Tk 21,223 crore on March 31, 2007 from Tk 20,098 crore on December 31,2006.

Allow import of up to 6-yr-old used vehicles
Importers urge govt
Reconditioned vehicle importers have demanded of the government to allow them import of used vehicles up to six years old.

Japan aims to reinvigorate Tokyo as global finance hub
Faced with growing competition from Hong Kong and Singapore, Japan aims to reinvigorate Tokyo as a global financial hub with a lofty goal of developing a new foreigner-friendly high-rise banking district.

$4.5b forex reserve: Kudos to unsung heroes
Our foreign exchange reserve crossed the US$ 4 billion mark for the first time in early March, now stranding at almost $4.

Wolfowitz blames media for resignation
Departing World Bank President Paul Wolfowitz in a radio interview broadcast Monday blamed an overheated atmosphere at the bank and in the media for forcing him to resign.

Khulna investors now under CSE network
As part of its nationwide expansion programme, Chittagong Stock Exchange (CSE) yesterday launched its online trading facilities in Khulna through its broker branch office ICB Securities Trading Company.

Beximco Pharma starts exports to Papua New Guinea
Beximco Pharmaceuticals Ltd has started supplying medicines to Papua New Guinea, one of the five LDCs of Oceania, says a press release.

27th branch of Bank Asia opens at Mohakhali
The 27th branch of Bank Asia was inaugurated yesterday in 82 Mohakhali Commercial Area, Dhaka, says a press release. Power, Energy & Mineral Resources Adviser Tapan Chowdhury inaugurated the new branch.

Berger Paints approves 110pc cash dividend
Berger Paints Bangladesh Ltd yesterday approved 110 percent cash dividend for its shareholders for 2006, says a press release.

Pakistan to post 7pc growth
Pakistan's economy is set to post robust growth of 7.02 percent in the fiscal year to the end of June, Prime Minister Shaukat Aziz said Monday. The figure compares with 6.

Google chief to talk business in S Korea
The chief of the world's top Internet search engine Google will visit South Korea this week to discuss business cooperation with local partners, officials said Monday.

India's economy to overtake Japan by 2025: BoJ
India's economy will overtake the Japanese economy by 2025 to rank third in the world after the United States and China in terms of purchasing power parity, Japan's central bank chief predicted Monday.

Dollar subdued in holiday trade
The dollar was slightly weaker against other major currencies in Asian trade Monday following Friday's worse-than-expected report on US home sales, dealers said.

Oil prices edge lower in Asia
Oil prices edged lower in Asian trade Monday as Nigeria's oil unions suspended a two-day-old strike over the weekend, relieving concerns of possible disruptions to shipments, dealers said.

Currency