The Daily Star: Internet Edition Mon. September 04, 2006

Vol. 5 Num 809

Mon. September 04, 2006


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Business

Forex reserve hits record $3.6b on strong remittance, exports
Country's foreign exchange reserve maintained upward trend rising to US$3.605 billion yesterday after hitting record highest last week, on strong remittance and export earnings.

Petroleum distributors threaten indefinite strike from tomorrow
Pump owners oppose
Tank-lorry owners and workers as well as petroleum distributors have threatened to go for indefinite strike from tomorrow if their demand for smooth supply of petroleum is not met by today.

IMF reforms force Europe to rethink its role, say experts
Pressure is building on European countries to seriously consider forming a single voice within the IMF after the financial institution decided to give more say to emerging economic powers, experts said.

Warid Telecom reaches interconnectivity deals with 5 operators
Warid Telecom Bangladesh, which is set to start its launching in October, Saturday signed interconnectivity agreements with five more PSTN/WLL telephone operators.

NRBs in UAE remit $512.6m in FY06
Remittances sent to Bangladesh from expatriate workers in the United Arab Emirates (UAE) rose by 15.9 percent in the last financial year, reaching a total of US$512.

HSBC introduces evening banking at Dhanmondi, Gulshan branches
The Hongkong and Shanghai Banking Corporation (HSBC) Ltd in Bangladesh yesterday introduced evening banking services for the customers at its Dhanmondi and Gulshan branches.

Exporters eye $1.5b frozen food export by 2010
Following a record earning last fiscal year, frozen food exporters now eye $1.5 billion export by 2010 and sought government support to achieve the target.

Malaysia Airlines raises fuel surcharges on int'l routes
Malaysia Airlines, which is trying to revive its fortunes, has announced an increase in fuel surcharges on a number of international routes.

Etihad Airways launches reward scheme
Etihad Airways, the national airline of the United Arab Emirates, recently launched its guest programme, which revolutionises airline loyalty initiatives and echoes personalised and customer-focused approach

Federal Ins declares 10pc stock dividend
Federal Insurance Co Ltd has declared a 10 per cent stock dividend for the year 2005.

Ocean Jeans to invest $2.6m in Ctg EPZ
A Bangladeshi company, Ocean Jeans Limited (OJL), will invest US$ 2.6 million to establish a readymade garment factory in Chittagong Export Processing Zone.

New chairman, vice chairman of UCB
Younus Ahmed and Aziz Al-Mahmood have been elected chairman and vice chairman of United Commercial Bank (UCB) Ltd. They were elected at the 240th Board Meeting of the bank recently, says a pressrelease.

Apec finance ministers in Hanoi to secure financial flows
Pacific Rim finance ministers will meet in Vietnam this week to discuss ways to strengthen regional growth and ensure increasing capital flows are accompanied by greater protection and security.

N Korea bans most Chinese tour groups
North Korea has suddenly banned nearly all Chinese tour groups, citing a need to fix its roads and railways, travel agencies in China said Sunday.