The Daily Star: Internet Edition Wed. July 11, 2007

Vol. 5 Num 1106

Wed. July 11, 2007


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Business

BTRC won't issue licences to new mobile phone companies
'Mobile South Asia' confce kicks off
BTRC (Bangladesh Telecommunication Regulatory Commission) will not issue any licence to new mobile phone operators in the country, telecoms watchdog chairman said yesterday.

Adviser decries insurers' 'unethical' practices
Insurers seek proper guideline
Finance and Planning Adviser Mirza Azizul Islam has blamed the insurance companies for practicing 'unethical means' to attract more business and dodge tax.

Budget for 2007-08
Govt should consider helping local industries
Says ICC-B
As there is no political pressure, the caretaker government should seriously consider helping local industries to come up and compete in global market place to rejuvenate the economy and improve the growth,

United Airways starts journey
Two fights daily on two routes
United Airways (Bangladesh) Ltd, a private sector airline founded by non-resident Bangladeshis, went into operation of its domestic passenger flights yesterday.

Islami Bank gets SEC nod to float Islamic bond
Islami Bank Bangladesh Ltd got approval from the Securities and Exchange Commission to float Islamic bond styled Mudaraba Perpetual Bond worth Tk 300 crore.

IMF should open up top job to non-Europeans: British FM
France gets EU backing to head IMF
The International Monetary Fund should launch an "open and transparent" process to choose its next head and not limit the field to Europeans, British finance minister Alistair Darling said on Monday.

Promotion of 17 bank officials as GM still undecided
Although the posts of 17 general managers (GM) in different government banks and financial institutions are lying vacant for a long time, the process of promotion of some bank officials to these posts

Malaysia set to be oil hub
Malaysia is to become a hub for oil trading, futures and securitization involving Islamic oil-structured financial derivatives in East Asia after a 7 billion US dollars Trans-Peninsular Oil Pipeline (TranPen)

India-led consortium wins bid to manage Istanbul airport
A consortium led by India's GMR Infrastructure won a 2.7-billion-dollar (1.93 billion euro) deal on Tuesday to manage the second airport in Turkey's biggest city Istanbul.

Square launches programme to promote 'Radhuni' spices
Radhuni, a powdered spices brand of Square Consumer Products Ltd, yesterday launched a promotional programme styled 'Cholo Radhunir Ghor Sajai'.

Danone bids $16.8b for Dutch baby food maker
Groupe Danone SA, the maker of Dannon yogurt and Evian waters, is strengthening its baby food business with a bid Monday to buy Royal Numico NV for $16.8 billion.

Warid Telecom launches int'l roaming services
In 60 days of its commercial operations, Warid Telecom International Ltd in Bangladesh has successfully launched international roaming services with 60 operators across 30 countries, says a press release.

Dhaka Mercantile Co-operative Bank chairman reelected
Group Captain (retd) Abu Zafar Chowdhury was reelected unopposed chairman of The Dhaka Mercantile Co-operative Bank Ltd for three years at a meeting in Dhaka on Friday, says a press release.

Japan, Thailand expand currency swap pact
Japan said Tuesday it had doubled the amount of foreign currency reserves it makes available to Thailand to shield against a possible financial crisis.

Euro surges to historic high of 1.3698 dollars
The euro raced to an all-time peak of 1.3698 dollars on Tuesday, as investors snapped up the European single currency amid high eurozone interest rates and concerns over the US economy, dealers said.

Currency

Correction
The headline of a news item, 'GP subscription base to reach 50m in 2 years', published on this page yesterday was wrong when it comes to the number of subscribers of an individual mobile phone operator.