The Daily Star: Internet Edition Wed. November 02, 2005

Vol. 5 Num 512

Wed. November 02, 2005


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Business

Indian IT giant Wipro plans to open branch in Bangladesh
Wipro, a leading Indian information technology company, plans to open a branch in Bangladesh to tap potential in telecoms and banking sectors in the country.

4-Day Closure of Karwan Bazar
Traders to count loss of Tk 150cr a day
As the government has decided to close down Karwan Bazar, the capital's largest wholesale kitchen market, for four days during the two-day 13th Saarc summit, traders will have to count a loss of nearly

Trade frictions cast shadow over Chinese exports
The textile and garment export situation, in particular with the US, was not looking healthy in the 98th session of China Export Commodities Fair (CECF), according to statistics published by China's Ministry

4 awardees selected
The four award winners of the Global Microentrepreneurship Awards (GMA) programme launched by Citigroup Foundation and the United Nations Capital Development Fund (UNCDF) were selected on Sunday, says

Gold sales drop in Eid shopping this year
Gold jewellery sale in the Eid-ul-Fitr shopping season this year has been affected badly due to high prices of the precious metal and poor purchasing capacity of customers, traders said.

Japan signals softer approach to gas row with China
Japan's new trade minister Toshihiro Nikai on Tuesday called for flexibility in settling a gas field row with China in the East China Sea, signalling a change from his predecessor's hardline stance.

Oil prices below $60 in Asia
Oil prices were below 60 dollars a barrel in Asian trade Tuesday on expected stronger US inventory data and as warmer weather in the United States dented demand, dealers said.

South Korean exports hit record high in October
South Korea's exports hit a record monthly high of more than 25 billion dollars in October thanks to strong overseas demand for cars, ships and machinery, government data showed Tuesday.

Tokyo Stock Exchange suffers worst-ever system crash
The Tokyo Stock Exchange was forced to suspend trading in all shares for the first time ever Tuesday after its computer system crashed in an embarrassment for Asia's largest bourse which plans to go public.

Key WTO players to meet in London to get talks on track
Five leading players in world trade are set to try once again to resolve bitter disputes that are holding up negotiations on a treaty to liberalise global commerce, diplomats said Monday.

Dollar hits a new two-year high against yen
The dollar struck a new two-year high against the yen Tuesday on the prospects of a 12th straight rise in US interest rates as the American economy weathers hurricanes and high energy costs, dealers said.

Indonesia's inflation soars after fuel price hike
Indonesia's inflation rate soared in October after a sharp fuel price hike at the start of the month, data showed Tuesday, as the central bank warned growth was likely to slow this year in Southeast Asia's

Turkey okays IMF-sought banking law
Turkish President Ahmet Necdet Sezer has signed into law a banking reform bill sought by the International Monetary (IMF), but will seek the cancellation of several provisions at the constitutional court,

China raises yuan forex limit for Hong Kong
China's central bank said Tuesday it has raised the yuan exchange limit for Hong Kong individuals to 20,000 yuan (2,470 US dollars, 19,184 Hong Kong dollars) per transaction from 6,000 yuan.