The Daily Star: Internet Edition Wed. July 05, 2006

Vol. 5 Num 748

Wed. July 05, 2006


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Business

$180m Micro-Credit for Small Entrepreneurs
Brac launches securitisation of fund tomorrow
Brac is going to launch the world's first securitisation of a fund of US$ 180 million to provide micro-credit for small entrepreneurs tomorrow.

30pc market penetration likely in Bangladesh by '09
Nokia Networks Asia-Pacific top official tells The Daily Star
Nokia Networks, one of the world's leading network infrastructure vendors, plans to strengthen its presence in Bangladesh as its mobile phone market penetration rate is likely to reach 30 per cent by2009.

SoE bad loans to put NCBs in jeopardy
Finds BB review
Financial stability of the debt-burdened nationalised commercial banks will remain in jeopardy unless the huge amount of money the SoEs (state-owned enterprises) owed to the NCBs is resolved effectively,

GrameenPhone reaches 8.5m subscribers
GrameenPhone Ltd reached 8.5 million subscribers on June 30, 2006, says a press release.

Asia Pacific telecom firms face risks but outlook stable
Asia Pacific telecom operators face increasing risks in the near to medium term amid declining market share, higher capital spending and falling revenue from fixed-line services, Standard and Poor's said

China, India gearing up to open historic border pass
China and India on Thursday will reopen an historic trading route through Tibet that has been closed for 44 years, in a further sign of warming ties between the world's two most populous nations.

Etihad to fly to NY from Oct
Etihad Airways, national airline of the UAE, has announced that it will commence services to New York from October 26, 2006.

French retail giant fined for unfair practices in South Korea
French retail giant Carrefour's unit in South Korea has been fined 1.39 billion won (1.48 million dollars) for unfair business practices, anti-trust regulators said Tuesday.

One Bank declares 25pc dividend
One Bank Limited has declared a 25 per cent dividend -- 15 per cent cash and 10 per cent bonus dividends -- for the year 2005.

Citigroup's two senior officials due today
Sanjay Nayar, area head for Citigroup South Asia and chief executive officer, India, and Robert A.

Thai export growth seen slowing in second half
Growth in Thai exports is expected to slow during the second half of the year, restrained by a stronger baht, high oil prices, and delays in signing free trade deals, a leading think-tank said Tuesday.

UK 'disappointed' by WTO talks
Seeks EU farm concessions
British Foreign Minister Margaret Beckett regretted Monday the failure of weekend WTO trade negotiations and called for the European Union to make greater concessions on agriculture.

Russia to ditch WTO rules if not admitted to body
Russia will stop adhering to rules set by the World Trade Organization (WTO) if it is not formally admitted to the group, President Vladimir Putin said here Tuesday.

Copying Western consumer culture not an option : India PM
India's reformist Prime Minister Manmohan Singh says economic growth is crucial to fight poverty but that aping Western consumer culture would be a big mistake for the country.

Developing countries key to feeding world: FAO
Developing countries such as Brazil, China and India hold the answer to providing food and fuel for growing global consumption in the next decade, a study said Tuesday.

China starts building largest wind power plant
China has begun building the nation's biggest wind power plant that will generate enough electricity for 400,000 homes, state press reported Tuesday.

US consumers face challenges in debt handling
Rising interest rates and higher gasoline prices are putting the squeeze on consumers' budgets, and many are finding it harder to keep up with their bills.

India-Lanka tea pact soon
With a view to give a boost to tea trade, India and Sri Lanka would be signing a Comprehensive Economic Partnership Agreement (Cepa) very soon, according to the Indian Tea Board chairman, Basudev Banerjee.

Microsoft not complying with decision: EU
An EU committee ruled on Monday that Microsoft failed to comply with a landmark antitrust decision, paving the way for fines of up to 2 million euros ($2.

Japan's central bank may raise rates soon
Japanese ministers gave conflicting signals Tuesday about what the central bank should do about interest rates amid rising speculation the Bank of Japan will raise rates next week.