The Daily Star: Internet Edition Thu. June 01, 2006

Vol. 5 Num 714

Thu. June 01, 2006


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Business

Garment workers demand Tk 3,000 minimum wage
Threaten to call strike for June 12
Garment workers yesterday demanded a minimum wage of Tk 3,000 a month for workers in apparel factories.

Govt to finalise strategic partners for Biman soon
The government is shortly expected to announce a decision to appoint strategic partners for Bangladesh Biman in an urgent effort to salvage the crisis-ridden national flag carrier.

China pledges to loosen currency controls
China's central bank on Wednesday pledged to gradually diminish its role in controlling the nation's currency to allow market forces more say in setting the value of the yuan.

India records 8.4pc growth in 2005-06
The Indian economy recorded growth of 8.4 percent in the 2005-06 year, beating previous estimates of 8.1 percent after a record preformance in the fourth quarter, the government said Wednesday.

Daewoo founder gets 10-year prison term
A lower court has sentenced Kim Woo-choong, founder of the now-defunct Daewoo Group, to 10 years in prison and a 21 trillion won (US$0.

Oil slips below $72 in Asia
Oil prices slipped below 72 dollars a barrel in Asian trade Wednesday on expectations of a build-up in US gasoline (petrol) supplies, providing a brief relief from supply concerns over Iran, dealers said.

Jubok responds to BB show cause notice
Jubo Karmasangsthan Society (Jubok), a non-governmental organisation (NGO), yesterday responded to the show cause notice issued by Bangladesh Bank (BB).

Karachi chamber team due Saturday
A 15-member trade delegation of Karachi Chamber of Commerce and Industry (KCCI) will arrive in Bangladesh on Saturday on a six-day visit.

Foreign trade grows 24pc in Nepal
Nepal's total foreign trade rose by 24 percent during the first eight months of the current Nepali fiscal year (July 16, 2005-July 15, 2006), Nepal Rastra Bank (NRB) said here yesterday.

Malaysia expands 5.3pc in Q1
Malaysia's economy grew by 5.3 percent in the first three months of 2006, outpacing 5.2 percent expansion in the previous quarter despite inflationary pressure, the central bank said Wednesday.

People's Leasing okays 45pc stock dividend
People's Leasing and Financial Services Ltd has declared a 45 per cent stock dividend (nine bonus shares for existing 20 shares) for its shareholders for the year 2005.

Union Capital declares 20pc stock dividend
Union Capital Ltd has declared a 20 per cent stock dividend for its shareholders for the year 2005.

Thailand posts current account deficit in April
Thailand posted a current account deficit in April, hit by soaring costs of oil imports and a slowdown in export growth, the central bank said Wednesday.

BASIC Bank proposes 24pc dividend
BASIC Bank Ltd has proposed a 24 per cent dividend for the year 2005, says a press release. The proposal was made at the 192nd meeting of the Board of Directors of the bank.

Apec ministers in Vietnam to push for global free trade deal
Asia-Pacific trade ministers were due to push for speedy progress in talks to free up global trade at a meeting starting Thursday in Vietnam, the communist host nation said.

Cambodian garment exports up 10pc in 2005: ILO
Cambodia's garment and textile exports in 2005 jumped 10 percent year-on-year to top two billion dollars for the first time, the International Labour Organisation said Wednesday.

India opens 1st Rolls-Royce showroom
The first Rolls-Royce showroom opened in India Wednesday to woo the nation's growing band of rich entrepreneurs with the ultimate symbol of luxury and status.