The Daily Star: Internet Edition Mon. July 30, 2007

Vol. 5 Num 1125

Mon. July 30, 2007


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Business

Dhaka needs to open up economy
WB country director tells Ficci meet
Improving investment climate is not enough for Bangladesh to survive in the changed era of post-MFA, rather it needs to open up its economy, World Bank Country Director Xian Zhu observed.

SEC asks merchant banks to play more responsible role
In the wake of bullish trend in stock market, the Securities and Exchange Commission (SEC) yesterday advised merchant banks to play more responsible role for the sake of stable capital market.

Japan's minicars selling big, eyeing emerging markets
Japanese carmakers are once more proving that small sells big.

Analysts see choppy markets but no systemic crash
The recent turbulence on world markets, sparked by fears of a global credit crunch, heralds some rough sailing ahead for investors rather than a systemic financial meltdown, analysts say.

US travel industry eyes $200m programme to woo visitors
The US travel industry and its allies are pressing Congress for a marketing program of as much as 200 million dollars to help restore America's "brand image" with international visitors.

BTRC realises Tk 2cr fine from Bangla Phone
Bangladesh Telecommunication Regulatory Commission (BTRC) yesterday realised Tk 2 crore fine from Bangla Phone Ltd, a private land phone operator, as the company has failed to fulfill a licensing condition.

BoI, LEIC sign MoU to help SMEs
Board of Investment (BoI) and Local Enterprise Investment Centre (LEIC) yesterday signed a memorandum of understanding (MoU) to work together for the development of small and medium enterprises (SMEs).

Finance adviser optimistic about 7pc GDP growth
Finance Adviser Dr Mirza Azizul Islam is optimistic about achieving 7 percent GDP growth if private sector credit growth maintains its current pace. "The present credit growth is 15.

Textile machinery expo ends
The four-day international exhibition on textile and garment machinery, accessories, fabrics and related services ended yesterday in the capital. The participants said visitors' response was mixed.

Colombo hikes petrol price by 17pc
Sri Lankan oil companies said Sunday they had raised petrol pump prices by 17 percent, the sixth increase this year amid high crude oil costs. Petrol now costs 117 rupees (1.

SEC fines Saleh Carpet high-ups
Securities and Exchange Commission (SEC) yesterday fined four high-ups of Saleh Carpet Mills Tk 1 lakh each for non-compliance with securities laws.

India's central bank expected to leave rates unchanged
India's central bank is expected to leave interest rates on hold this week as fears that the country's fast-growing economy is overheating begin to recede, analysts say.

Bangkok calls for global co-op after Wall Street tumble
Thailand, the epicentre of the 1997 economic crisis, on Saturday called for global cooperation to cope with financial volatility following a regional stock sell-off sparked by Wall Street losses.

Dnata enters partnership with Chinese airport group
Dnata, the ground handling arm of Dubai's Emirates Group, has signed a joint venture agreement with China West Airport Group (CWAG) to provide airport ground handling services in Xi'an Xianyang International

Sri Lanka set for record growth
The recent escalation in fighting in Sri Lanka has not derailed the nation's economy, with the island on track to record its fastest growth in nearly three decades, according to the central bank.

India's jewellery exports up 13pc
Notwithstanding the complaints made by exporters from different sectors of the economy about the dampening effect of rupee appreciation, the country's gems and jewellery exports have registered a 12.

Currency