The Daily Star: Internet Edition Mon. July 16, 2007

Vol. 5 Num 1111

Mon. July 16, 2007


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Business

Tax on savings certificate income irks small savers
Small savers have expressed disappointment over the imposition of tax on savings instruments income.

DCCI concerned about tight monetary policy
Dhaka Chamber of Commerce and Industry (DCCI) yesterday expressed concerns over the tight monetary policy of the central bank.

IMF opens managing director race, but to a party of one?
The International Monetary Fund has opened the selection process for the next managing director, but it remains to be seen whether there will be more than one candidate.

Lanka tourist arrivals plunge in June
Tourist arrivals to Sri Lanka plunged 30 percent in June compared to a year ago as fighting escalated in the country's bitter ethnic war, the tourism board said Sunday.

4 get ICE Today-Aqua Paints Interior Design Award
Four interior designers have won ICE Today-Aqua Paints Interior Design Award 2007 in two categories for their outstanding performance in interior designing.

Food Procurement Drive
7 banks to keep branches open Saturdays
Branches of seven commercial and specialised banks across the country will remain open on Saturdays, one of the weekly holidays, to facilitate transactions relating only to the government's ongoing food

Only 10pc of Myanmar's companies running
Only 10 percent of the companies registered in military-ruled Myanmar are actually operating, the acting prime minister said Sunday.

Videocon's semiconductor unit to be set up in India
Consumer electronics major Videocon has said it will set up a semiconductor unit in India with an initial investment of Rs. 25 billion and is currently working on finalising the location for the same.

REB signs deals with 2 firms to buy electricity
Rural Electrification Board (REB) yesterday signed separate agreements with two private firms to purchase captive power from them.

China's trade deficit with East Asia hits $87.5b
Although China has an overall foreign trade surplus, it had a deficit of $87.5 billion in 2006 with East Asian countries, said Liao Xiaoqi, vice minister of commerce, on Saturday.

China to invest $82b to expand urban rail systems
China will spend 620 billion yuan (82 billion U.S. dollars) building subways and urban railways in 15 major cities in the next ten years to ease traffic jams, according to the Ministry of Construction.

StanChart takes over US visa fee collection service
Standard Chartered Bank has taken over the Non-Immigrant Visa Fee Collection Service of US Embassy of US Embassy, says a press release.

China's roaring economy set to overtake Germany
China's economy grew so rapidly in the first half of 2007 that it is likely to overtake Germany as the world's third-largest by the end of this year, analysts say.

Brunei sultan urges SMEs to play bigger role
The sultan of Brunei called Sunday for small and medium-sized enterprises to play a greater role in the country, which observers say is debating how to secure its economic future amid dwindling oil and

NZ considers China workers for trade deal
New Zealand is prepared to consider increasing the number of Chinese workers in the country to help cement a better trade deal with Beijing, Trade Minister Phil Goff said.

Zimbabwe loses out in global gold rush
Skyrocketing inflation, erratic power supplies, a skills shortage and a dearth of foreign exchange have combined to ensure Zimbabwe is missing out on a global boom in gold prices.

Currency