The Daily Star: Internet Edition Sat. July 07, 2007

Vol. 5 Num 1102

Sat. July 07, 2007


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Business

BB needs to monitor mid-sized banks' credit growth: IMF
The medium-sized banks whose credit is growing by 20 to 30 percent and whose non-performing loan (NPL) ratios are about 10 percent should be more closely watched, said a report of International Monetary

Donors must do more to help poor states achieve MDGs
SUPRO meet told
The donor states must fulfil their commitments towards global poverty elimination in order to help the poor countries attain the Millennium Development Goals (MDGs), speakers told a function in Dhakayesterday.

Dhaka gets $23.6m WB loan to improve public procurement system
The World Bank (WB) has approved a credit of US$23.6 million from International Development Association (IDA) to help improve public procurement system of Bangladesh.

Corruption fight 'matter of life and death'
UN business summit told
An anti-corruption watchdog on Thursday warned business leaders at a United Nations summit to urgently tackle corruption costing the global economy some 2.5 trillion dollars (1.

Indian inflation rises but within central bank target
India's inflation rate jumped by a surprise tenth of a percentage point, snapping ten straight weeks of decline, but remained at a 14-month low, official data showed on Friday. Inflation rose to4.

Apec supports WTO talks but eyes regional fallback
Apec trade ministers pledged strong support for global trade talks but revealed they were also examining the possibility of an Asia-Pacific free trade area, in a communique issued Friday.

Dollar stable as euro pauses in Asian trade
The dollar edged higher in Asian trade Friday as players awaited key US unemployment data for fresh clues on the health of the world's largest economy, dealers said.

Int'l food festival begins at Dhaka Regency Hotel
A nine-day international food festival began at Dhaka Regency Hotel on Thursday to mark the formal opening of the newly launched hotel's restaurant.

Food prices set for 'long-lasting' inflation: Nestle chairman
Food prices around the world are set for a "significant and long-lasting" period of inflation because of a variety of factors, including demand from China and India, Nestle's chairman said in an interview

Baht hits 10-yr high against dollar
The Thai baht broke the psychological 34-baht barrier to reach a new 10-year high against the US dollar, prompting the Bank of Thailand (BOT) to warn exporters not to panic as it has acted to stem the

Unilever eyes stake in Chinese toothpaste maker
Anglo-Dutch consumer products giant Unilever is eyeing a stake in Chinese personal hygiene firm Shanghai White Cat, which was recently at the centre of a safety scandal, state media said Friday.

India's Wipro to buy S'pore consumer products firm for $246m
Wipro Ltd, which built India's third-largest software business after starting out as a maker of oils and soaps, said Friday it would buy Singapore-based consumer products firm Unza Holdings for 246 million

Indian bike sales skid as bank loans dry up
India's banks are cutting back on loans to buyers of motorbikes and scooters, crimping sales growth in the world's second-largest two-wheeler market, an industry executive said Thursday.

Oil prices inch up near $72
Oil prices inched higher Friday in Asia, holding on to gains made in the US after renewed violence and kidnappings in Nigeria, Africa's biggest oil producer.

US sees higher job growth
Employers boosted payrolls by a better-than-expected 132,000 jobs in June, enough to keep the unemployment rate at a relatively low 4.5 percent.

Siemens AG head of Asia, Australia due today
Dr Klaus Wucherer, head of Asia and Australia and member of the Corporate Executive Committee of Siemens AG, is expected to arrive in Dhaka today to take part in the Siemens' 50-year celebration in Bangladesh,

Weekly Currency Roundup
July 02-July 05, 2007
Local FX Market
The US dollar/BDT market was liquid and USD lost ground against the BDT in the week. The dollar showed a downward trend against the Bangladeshi taka.