The Daily Star: Internet Edition Wed. August 02, 2006

Vol. 5 Num 776

Wed. August 02, 2006


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Business

$11.50b export target fixed for FY07
On the back of a huge success in export earning in the last fiscal year, the Export Promotion Bureau (EPB) has fixed $11.50 billion export target for the fiscal year 2006-07.

Congestions at Ctg Port
Feeder operators may lift extra surcharge soon
Singapore-based feeder operators are likely to withdraw additional surcharge on Chittagong bound container carrying vessels very soon.

Ineffective mechanism leads to increase in medicine prices
Roundtable told
A strong syndicate of drug manufacturers has been active to make windfall profits by pushing up the prices of medicines in absence of effective mechanisms in the national drug policy to monitor the market,

Singer opens cable manufacturing plant
Singer Bangladesh yesterday opened a cable manufacturing plant at Savar with a view to substantiating the company's growth and diversifying its product range.

SEC warns 8 listed firms for defying rules
Securities and Exchange Commission (SEC) has warned eight listed companies, their directors and company secretaries for violation of rules.

West Bengal signs $8.5b deal with Indonesia firm
The Marxist government in India's West Bengal state has inked a multi-billion dollar deal with a private conglomerate including the Indonesia-based Salim group to develop huge industrial parks, an official

New GM of Sonargaon hotel in town
Hidetaka Ishiyama, new general manager (GM) of Pan Pacific Sonargaon hotel, arrived in Dhaka yesterday. Ishiyama will assume the position of outgoing GM Grant J Gaskin, says a press release.

Myanmar liberalises border trade procedure with China
Myanmar has liberalised some trade procedures dealing with border trade being carried out in Muse trade point with China to facilitate exporters and boost bilateral trade between the two countries, said

ADB lends $200m to China for road project
China is to get a 200 million-dollar loan from the Asian Development Bank to upgrade a key highway in the northeastern province of Heilongjiang, the Philippines-based lender said Tuesday.

Oil prices gain slightly
World oil prices rose slightly on Tuesday as the market focused on troubles in the Middle East.

Japan's overseas vehicle output surges
Overseas production by Japanese motor companies topped their domestic output for the first time in the year to March 2006, an industry group said Monday.

IMF chief warns against patchwork of trade deals
IMF chief Rodrigo Rato warned Monday against a patchwork of national and regional trade deals replacing a more ambitious reform of global commerce by the WTO.

ROK trade surplus dips
South Korea's trade surplus plunged 61 percent in July from a year earlier, with exports hit by strikes in the auto industry, official data showed Tuesday.

Dollar creeps ahead before new data
The dollar firmed but remained on a weak footing on Tuesday before a batch of data, dealers said.