The Daily Star: Internet Edition Thu. August 02, 2007

Vol. 5 Num 1128

Thu. August 02, 2007


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Business

Inflation of foods in urban areas reaches 10.71pc in June
The point-to-point inflation rate of food items for the urban areas crossed double digit to reach 10.71 percent in June, threatening more sufferings for the fixed income group.

KL to remove tariff barriers for trading with Dhaka
Malaysia is likely to remove tariff and non-tariff barriers for Bangladesh in phases and issue multiple visa for three years to genuine Bangladeshi businessmen.

Tech glitch in CDS halts spot trading of 7 DSE firms
Spot trading of seven companies on the Dhaka bourse was halted for almost all the trading hours yesterday due to technical glitch in the Central Depository System (CDS) that forced the Central Depository

Process to corporatise NCBs almost finalised
The authorities concerned have almost finalised the process to corporatise the nationalised commercial banks (NCBs) as they agreed on the modalities at a meeting in Dhaka yesterday.

India to examine NTBs that affect Pak exports
India has set up a task force to examine the issues of non-tariff barriers (NTBs) that Pakistan feels are affecting exports of goods like cement to India.

Indo-HK RMG plant in Dhaka EPZ soon
Hong Kong and India will establish a garments industry in Dhaka Export Processing Zone with an investment of US$ 3.626 million. This 100 percent foreign owned company named M/s.

US hails SE Asia's free markets
The United States on Wednesday lauded Southeast Asia for progress on democracy and free markets, stressing its commitment to the region despite Condoleezza Rice's absence at a key security summit.

DSE fines7 firms fordefying rules
The Dhaka Stock Exchange (DSE) authority fined seven listed companies for their failure to submit half-yearly financial reports, sources said.

Bogra LPG depot set to reopen soon
The LPG depot of Bangladesh Petroleum Corporation (BPC) in Bogra is set to reopen in a few days to the dealers of sixteen northern districts.

Vietnam bans strikes in key economicsectors
Vietnam has banned strikes in key public services and in sectors that are "of extreme importance to the national economy," the communist government said on its website Wednesday.

World stocks in meltdown over US economy fears
European and Asian stock markets plummeted Wednesday, mirroring heavy losses the previous day in New York, on mounting fears that weakness in the US housing sector could infect the world economy.

Global Insokays 5pc cash dividend
Global Insurance Ltd has approved a 5 percent cash dividend for its shareholders.

New head of Personal Financial Services of HSBC Bangladesh
Md Shafquat Hossain has been promoted to the post of head of Personal Financial Services of Hongkong and Shanghai Banking Corporation (HSBC) Bangladesh Ltd with effect from August 1, 2007.

Eurozone manufacturing growth hits 17-month low
Manufacturing activity in the 13 nations that share the euro fell to a 17-month low in July, a survey released Wednesday found, a decline analysts attributed to a strong euro and high oil prices.

Nokia opens cellphone design studio in India
Finnish mobile-phone maker Nokia on Wednesday opened a global design studio in India to stay ahead of rivals such as Motorola in the world's fastest-growing wireless market.

Currency