The Daily Star: Internet Edition Mon. March 05, 2007

Vol. 5 Num 982

Mon. March 05, 2007


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Business

BB issues guideline on merger of banks, financial instts
Bangladesh Bank in a bid to strengthen the banking sector issued a guideline yesterday by which merger of small and problem banks and financial institutions with strong ones are now allowed.

21 Bangladesh missions miss export targets
A total of 21 out of 44 Bangladesh missions abroad failed to achieve their respective export targets for the July-December period this fiscal (2006-07).

World markets focus on imbalances
Fear was back on global stock markets last week as investors worried about the financial and trade imbalances that have built up during years of strong growth for the world economy.

Travel and Tourism Competitiveness
Bangladesh ranks 120th
Bangladesh has ranked 120th on the World Economic Forum's (WEF) maiden Travel and Tourism Competitiveness Report 2007.

China's real estate attracts more foreign investment
Morgan Stanley has recently purchased a 24,000-square-meter land in Luwan District of downtown Shanghai for a high-rise office building project worth 1.3 billion yuan (166.

India ready to take more steps to curb inflation Finance minister says
Finance Minister P Chidambaram expects interest rates to moderate once the current inflation level declines and made it clear Saturday that the government was ready to take further fiscal, monetary and

Thai economy slows on sagging exports
Thailand's economic growth could slow to its worst rate in five years as investor confidence sags and exports are hit by a strong baht, analysts say.

Proton-VW talks hit bumpy road
Talks between troubled Malaysian carmaker Proton and German giant Volkswagen AG that began last year have hit a bumpy patch, a report said Sunday.

Navana launches Toyota Avanza
Navana Ltd yesterday formally launched Toyota's Avanza, a 7-seat multi purpose vehicle, in local market, says a press release.

US economy suddenly appears vulnerable
The US economic expansion suddenly seems more fragile than thought just weeks earlier, after a sharp downward revision to the past quarter's growth and renewed fears about the slump in real estate.

Russia's federal budget revenue may fall in '07
Russia's federal budget incomes this year will go down by 170 billion rubles (6.5 bln US dollars) due to falling crude oil prices and a reduction in the GDP, Finance Minister Alexei Kudrin told the Cabinet.

Industry being revitalised in Iraq
Industry is being revitalised in Iraq, despite the raging violence, and creating lucrative openings for entrepreneurs brave enough to do do business here, a top US official insists.

$3b US investment in Philippines planned
US investors are planning to invest up to three billion dollars in the Philippines this year as the economy continues to strengthen, media reports said Sunday.

Lanka's first internet firm halts services
Sri Lanka's first Internet service provider, Lanka Internet Services Ltd., has halted services leaving thousands of customers offline, a news report said Sunday.

Currency