The Daily Star: Internet Edition Thu. June 21, 2007

Vol. 5 Num 1086

Thu. June 21, 2007


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Business

SoE losses shoot up 48.43pc in FY07
The loss in state-owned enterprises (SoEs) increased by 48.43 percent in 2006-07 fiscal year, according to Bangladesh Economic Review 2007.

Govt to sign 3 deals with Bahrain to boost trade
Bangladesh and Bahrain will sign three agreements on avoidance of double taxation, investment promotion and protection, and air services by the year-end to boost trade.

IMF raises alarm on growing risks in financial markets
IMF chief Rodrigo Rato warned Tuesday that some investors are rushing with "reckless disregard" into increasingly risky assets around the globe and may be in for a shock if things go sour.

HSBC launches product next week to facilitate export, import of SMEs
The Hongkong and Shanghai Banking Corporation (HSBC) Ltd is set to launch a new product next week to facilitate both export and import business for small and medium enterprises (SMEs) with a special focus

Corporate governance seen key to protecting stakeholders' interest
Better corporate governance and corporate social responsibility (CSR) are key to protecting the interest of corporate sector stakeholders and strengthening the role of corporate houses in social welfare,

Ericsson sees faster mobile user growth in SE Asia
Swedish telecoms giant Ericsson said Wednesday there is still room for further strong growth in mobile phone penetration rates in Southeast Asia.

China slashes tax breaks on exports
China is to slash tax incentives for thousands of exports ranging from toys to cement, but analysts said Wednesday the move could hit consumers rather than puncture the ballooning trade surplus.

GP offers new tariff for Smile subscribers
Leading mobile phone operator Grameenphone (GP) Ltd has launched a promotional offer for the subscribers of its 'Smile' prepaid package, says a press release.

Turkey to host confce of world's poorest nations
Leaders from the world's least developed countries will meet in Istanbul next month to discuss ways of integrating with the global economy and improving the welfare of their people, a Turkish official

Investment in sustainable energy soaring
Says UN
Global investment in sustainable energy is soaring on the back of concern over climate change, high oil prices and growing government support, acccording to a UN report released Wednesday.

StanChart enjoys double-digit profits growth worldwide
Standard Chartered, the Britain-based emerging markets bank, said on Wednesday that it had achieved double-digit profits and revenue growth, especially in Asia, during the first six months of 2007.

South Korea to create fund for small firms
South Korea's government offered Wednesday to set up a 1.08 billion dollar fund to help small- and medium-sized firms with high technology.

US blocks Canada complaint at WTO over farm subsidies
The United States on Wednesday blocked a complaint by Canada at the World Trade Organisation which claims that Washington uses "trade-distorting" farm subsidies on products such as corn, trade sources

Yahoo forges mobile search deal with six Asian operators
Internet giant Yahoo on Wednesday announced partnership agreements with six leading Asian mobile phone operators with a combined subscriber base of nearly 100 million.

China eyes Airbus plants
One of China's major state-run aircraft makers may be interested in buying some of Airbus's plants in Europe, state press said on Wednesday, citing a senior company official.

Brac Bank okays 20pc stock dividend
Brac Bank Ltd has declared a 20 percent stock dividend for its shareholders for the year 2006.

RFL declares 16pc dividend
Rangpur Foundry Ltd (RFL) has declared a 16 percent dividend for the year 2006.

BAB nominates FBCCI director
Bangladesh Association of Banks has nominated AKM Nurul Fazal Bulbul as a director in the Board of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), says a press release.

You Tube goes international
The popular video-sharing website YouTube has announced the launch here of international services in nine countries, in a fresh step by parent company Google to deepen its presence in Europe.

Manila's foreign reserves to hit $26.6b
Philippine foreign reserves for 2007 are forecast to be 26.6 billion dollars with an increased surplus due partly to higher remittances from Filipinos abroad, the central bank said Wednesday.

Currency