The Daily Star: Internet Edition Fri. March 04, 2005

Volume 5 Number 273

Fri. March 04, 2005


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Business

Make use of forward trade to ease pressure on forex
Bangladesh Bank asks fund managers
Bangladesh Bank yesterday asked fund managers of different commercial banks to take advantage of forward trade to ease pressure on foreign exchange.

Commerce ministry to seek PMO aid to set up API plant
Move to boost pharmaceutical export
The Ministry of Commerce will soon request the Prime Minister's Office (PMO) to take urgent initiatives to set up an active pharmaceutical ingredient (API) plant so that Bangladesh can get maximum benefit

Regulatory risks mar Asia's power investment: ADB
There is only one way for Asia's poor countries to avoid looming widespread blackouts: they must keep improving their regulatory framework, a senior official at the Asian Development Bank (ADB) said Wednesday.

Tk650cr project taken up to set up CNG re-fuelling stations
Says state minister
The government has taken up a Tk 650 crore project to set up CNG re-fuelling stations across the country, state minister for Energy and Mineral Resources said yesterday.
The project, to be implemented

China's textile industry to adopt price controls
China's textile manufacturers are expected to adopt self-imposed price controls to prevent exports from flooding international markets, state press reported Thursday.

IT firm Kyliptix Solutions to hit local market soon
A US-based ICT company is going to introduce a wide range of latest wireless products and other IT solutions in local market.

British co to set up composite textile factory in Comilla EPZ
An investor from British Virgin Island is going to establish a composite textile factory in Comilla Export Processing Zone at a cost of US$ 5.246 million.

SEDF to work on Unilever's sales automation project
SouthAsia Enterprise Development Facility, a multi-donor-funded facility managed by International Finance Corporation, will work on the national roll out of a sales automation programme, Project Durbin,

World Bank chief eyes successor
Outgoing World Bank chief James Wolfensohn said Thursday his successor must be "passionate" about fighting poverty -- and denied that Deputy US Defense Secretary Paul Wolfowitz was running for the post.

Janata Ins' new vice chairman
The board of directors of Janata Insurance Company Ltd elected Rubel Aziz vice chairman of the company on Sunday.

Oil prices could hit $80 in next 2 years: Opec
Prices of crude oil could surge to as high as 80 dollars a barrel within the next two years but such a level would not last long, Opec's acting secretary general was quoted as saying Thursday.

US economy sound but Fed worries about budget
The US economy is on a good footing and inflation is stable, but the country's large budget deficit and low savings rate are significant problems that must be addressed, Federal Reserve officials said

World trade talks open under north-south cloud in Kenya
UK Ministers and senior officials from 33 nations met here Thursday in a bid to overcome a bitter north-south rift over world commerce and jumpstart efforts to seal a global trade accord by 2006.

India, Africa launch major initiative to boost trade
Hundreds of business people and government officials from India and Africa opened a three-day conference Wednesday that marks the largest-ever attempt at boosting trade between the two regions.