The Daily Star: Internet Edition Wed. August 08, 2007

Vol. 5 Num 1135

Wed. August 08, 2007


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Business

Trade under safta
Dhaka to ask Delhi to drop more items from sensitive list
The government will submit a list of products to Indian government requesting it to exclude those from the sensitive list Delhi earlier prepared for trade under Safta.

World Bank chief hails Vietnam's poverty fight
World Bank president Robert Zoellick hailed Vietnam's fight against poverty as a "tremendous success story" but also urged reforms Tuesday as the communist country aims for middle-income status.

BRAC allocates Tk 2cr for retrenched jute mill workers
BRAC, a leading non-governmental organisation, has undertaken a Tk 2 crore special initiative to support the recently retrenched workers of jute mills, says a press release.

BEA for govt's proactive role in flood relief work
Bangladesh Economic Association (BEA) has urged the government to play a proactive role in coordinating and supervising the countrywide flood relief and rehabilitation programme.

S Korean shipyards get record orders
Orders received by South Korean shipyards hit a record high of 33.2 billion dollars in the first half of this year thanks to a surge in global demand, official data showed Tuesday.

China further boosts financial services in rural areas
The banking regulators on Monday further eased market access for banks to rural areas and removed some obstacles to the development of rural financial services, in a move to promote the rural development.

Dhaka Metro Trade Fair begins
A month-long fair styled 'Dhaka Metro Trade Fair' began at Bashundhara City shopping mall in the capital yesterday.

Banks asked to keep 1pc provision against L/C, bank guarantee
In addition to the existing provisioning arrangement for classified loans, the central bank yesterday asked the commercial banks to keep 1 percent provision against non-funded facilities such as letter

Standard Chartered profits jump
Standard Chartered, the emerging markets bank, said Tuesday that net profit jumped by almost a third during the first half of 2007, helped by strong performances in Asia, Africa and the Middle East.

Two factories to be set up in Karnaphuli EPZ
Sri Lankan and Bangladeshi companies will establish two industrial units in Karnaphuli Export Processing Zone with an investment of US$ 7.845 million.

Int'l trade fair on waste treatment tech from Sept 11
A three-day international trade fair on water and wastewater treatment technology will begin in Dhaka on September 11.

Indian IT firm Wipro to buy US outsourcing company
Indian information technology firm Wipro Ltd has said it will buy a US outsourcing firm, Inforcrossing, for $600 million.

Summit, Wartsila sign deal on gas generator purchase for power plants
Summit Power Ltd, a local electricity generating company, has signed a contract with Wartsila Corporation of Finland for supply of a dozen of gas generator engines totalling around 105 megawatt powergeneration

Oil prices stable
World oil prices steadied on Tuesday, a day after sliding by around 3.5 dollars on forecasts of weaker energy demand owing to economic troubles affecting the United States.

Dollar eases in Asia
The dollar slipped against the yen and the euro in Asian trade Tuesday as market players waited anxiously for the Federal Reserve's assessment of problems in US credit markets, dealers said.

Russian billionaire buys stake in GM
Russian billionaire Oleg Deripaska bought a stake of under 5.0 percent in US car manufacturer General Motors late last year, Russian newspaper Vedomosti reported on Tuesday.

AirAsia to form alliance with Virgin'
Asian low-cost airline pioneer Tony Fernandes looks set to score a major coup with British businessman Richard Branson coming on board to help get his struggling, high-risk long-haul venture off the ground,

Currency