The Daily Star: Internet Edition Tue. August 02, 2005

Vol. 5 Num 421

Tue. August 02, 2005


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Business

Forex reserve drops on dollar crisis
Forex dealers' assoc today takes decision on acceptable rate of greenback
Foreign exchange reserve of the country is going down significantly in the face of a nagging dollar crisis.
The foreign exchange reserves slumped to US$2.829 billion on Sunday from $2.

Concerted efforts key to fighting corruption
Korean leader of minority shareholders talks to The Daily Star
The root cause of poverty is corruption, he believed and decided to fight against it where it is deep-rooted.

Economy passing unstable juncture: Saifur
The country's economy is passing an unstable juncture, Finance and Planning Minister M Saifur Rahman admitted yesterday.
"I am under tremendous pressure.

BB governor brushes aside forex intervention
Bangladesh Bank Governor Salehuddin Ahmed yesterday ruled out central bank's intervention to peg US dollar to protect taka from devaluation.

SMEs need funds to enter export market
Speakers tell seminar
Speakers at a seminar on Sunday stressed the need for providing small and medium enterprises (SMEs) with necessary funds to help them enter export market.

Yuan rates already market-regulating
Says China central bank
The People's Bank of China, the central bank, said the yuan exchange rate is now made floating according to market forces, ruling out any more government-decreed revaluation of its currency, also called

SEC warns 5 cos
The Securities and Exchange Commission (SEC) warned five companies for their failure in submitting audited financial statements and holding annual general meetings (AGMs) in due time, official sources

Kazi Farms' chickens now available at Agora outlets
Rahimafrooz Superstores Ltd will sell 'tastyfresh' chickens of Kazi Farms Groups at the chain superstore's four Agora outlets in Dhaka.

Preparation for private sector development vision underway
A meeting of the private sector development (PSD) Task Force was held on Sunday in Dhaka to begin the preparation of a Vision for PSD in Bangladesh.

Japan to impose trade sanctions on US over dumping law
Japan on Monday decided to impose its first-ever retaliatory trade sanctions against the United States on 15 goods including steel over a controversial US anti-dumping law, the trade ministry said.

Group 4 regional president due today
David I Hudson, regional president of Group 4 Securicor Plc UK, arrives in Dhaka today on a two-day visit.

Oil jumps above $61 after Fahd death
World oil prices jumped above 61 dollars per barrel on Monday, although the death of King Fahd of Saudi Arabia, whose country is the world's biggest oil exporter, would be unlikely to cause major supply

Thailand, Japan finish FTA talk, formal signing in April
Thailand and Japan have finished negotiating a free trade agreement, ending marathon talks Monday with Thailand backing down on tariffs for luxury car imports, officials said on Monday.