The Daily Star: Internet Edition Sun. July 03, 2005

Vol. 5 Num 391

Sun. July 03, 2005


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Business

SEC, DSE at loggerheads over listing of 'weak cos'
The Securities and Exchange Commission and the Dhaka Stock Exchange are now at loggerheads over listing of some companies with 'weak fundamentals'.

SEC cancels 62,674 BO accounts
The Securities and Exchange Commission (SEC) has cancelled 62,674 beneficiary owners (BO) accounts, which were found fake, official sources said yesterday.

Govt urged to put emphasis on co-operatives in PRSP
Speakers at a roundtable yesterday urged the government to give emphasis on co-operatives in the PRSP to cut poverty.

Envoys talk status of bill seeking market access to US
Ambassadors of some countries at a meeting here on Thursday discussed the latest status of TRADE Bill and the strategies for moving it forward.

Philips to make cheapest mobile phone sets
Philips will make the world's cheapest cellular mobile phone, which will be sold at US$20 each or less.

Wintel to market ZTE phone sets
Wintel Limited, a leading ICT company, yesterday signed a deal with ZTE Corporation, a Chinese telecommunications equipment manufacturer, to market ZTE GSM and CDMA mobile and fixed phones in Bangladesh.

Yemen keen to buy more drugs from Bangladesh
An official delegation from Yemen yesterday visited the production facilities of Beximco Pharmaceutical Ltd (BPL) in Gazipur and showed interest to import more pharmaceutical products from Bangladesh.

Emirates Holidays Bangladesh awarded
Emirates Holidays Bangladesh, a tour operating arm of Emirates, has been given award for the best overall performance in Asia-Pacific.

World cotton consumption to hit record in 2005-06
An international farm group Friday forecast world cotton production would fall below 24 million tons in 2005/06, down 2.4 million tons, while consumption is seen reaching 23.8 million tons.

New MD of ACI
Arif Dowla took over as the managing director of ACI (Advanced Chemical Industries) Ltd with effect from July 1.

Asia scrambling to curb energy use as oil hits $60
Asian nations are scrambling to curb energy use as oil hits $60, but a resilient US economy and subsidised prices at home mean these marginal measures will scarcely dent demand, analysts say.

WB looks at new China lending
The World Bank is set to begin talks with China on a new five-year loan programme that will encourage the Asian powerhouse to focus on economic inequality and environmental problems, a top official said.

US industrial growth accelerates
The US factory sector accelerated in June, a survey by the Institute for Supply Management showed Friday, a report stronger than most analysts had been expecting.

Lankan money changers asked to raise capital by 900pc
Sri Lanka Friday announced a 900 percent increase in the minimum capital requirement of money changers, saying the move was aimed at injecting credibility into the business.

Toyota posts record US auto sales in June
Toyota Motors Sales USA posted record sales in June, rising 10 percent to 194,875 vehicles, the automaker said Friday.