The Daily Star: Internet Edition Thu. June 28, 2007

Vol. 5 Num 1093

Thu. June 28, 2007


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Business

Bangladesh needs to make strategies for regional trade deals
Seminar observes
As Bangladesh is very much on the track of globalisation, it needs to formulate a future strategy for being part of any regional trade arrangements (RTAs) protecting domestic economic interests, speakers

BRAC Bank rolls out new product for light engineering industry
BRAC Bank Limited yesterday launched a new loan product for light engineering factories to promote the potential import substitute industry.

IMF delays consideration of gold reserves sale
The International Monetary Fund has delayed by one month a board meeting to discuss financial reform, including the possible sale of some of its valuable gold reserves, a spokesman said Tuesday.

Repeat Asian financial crunch unlikely, despite shocks
Ten years after the Asian financial crisis stung unwitting investors, stock markets have returned to record highs and free-wheeling capitalism is back, prompting many to ask, can it happen again?

China asks Pakistan to protect its workers
China called on Pakistan to step up its protection of Chinese workers in the South Asian country, state press reported Wednesday, following the brief kidnapping of seven Chinese people in Islamabad.

Doha talks need boost from 'fast-track' extension
Says US trade chief
The sputtering Doha round of global trade talks would get a boost from an extension of the special negotiating authority for the president, the US trade chief said Tuesday.

LC opening rises 14.38pc in 11months
The rate of LC openings in the first 11 months of the outgoing fiscal year increased 14.38 percent over the corresponding period of last year.

DSE turnover, share prices decline after 10-day rally
Country's premier bourse Dhaka Stock Exchange (DSE) yesterday witnessed a decline in turnover and share prices after 10 consecutive days of rise, including a record-breaking transaction on Tuesday.

9-day int'l food festival at Dhaka Regency Hotel from July 5
A nine-day international food festival will begin at Dhaka Regency Hotel on July 5 to mark the formal opening of the newly launched hotel's restaurant.

HSBC launches new product for small firms
HSBC on Sunday launched a new product called Trade Up to offer trade financing to small and medium sized businesses that supply larger manufacturers of ready-made garments, says a press release.

Oil prices lower on expectations of rise in US energy reserves
Oil prices weakened in Asian trade Wednesday as the market waited for the weekly US energy report where expectations are for a further rise in petroleum reserves, dealers said.

Manila to sell corporate assets to cover tax shortfall
Substantial Philippine government stakes in the corporate sector including in brewer San Miguel Corp. are to be auctioned to cover shortfalls in tax collection, Finance Secretary Margarito Teves saidWednesday.

Freight forwarders assoc's adhoc committee
A 7-member ad-hoc committee of the proposed single trade association for freight forwarders, Bangladesh Freight Forwarders Association (BFFA), has recently been constituted with Helaluddin Akbar as its

Venezuela consolidates oil industry control
Venezuela Tuesday moved closer to nationalizing its oil-rich Orinoco River basin, as four foreign oil companies signed deals giving Venezuela the lion's share of the profits and two US companies pulled

Rahimafrooz launches jumbo IPS
Rahimafrooz yesterday launched jumbo IPS (instant power supply) in Dhaka, says a press release.

Asia needs more work on corporate governance
Roundtable told
Asia has substantially revamped its corporate governance framework but more work needs to be done 10 years after a financial crisis struck the region, a meeting of regional officials declared Wednesday.

Currency