The Daily Star: Internet Edition Sat. August 04, 2007

Vol. 5 Num 1130

Sat. August 04, 2007


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Business

NRBs still reluctant to remit money thru' official channels: ADB
The non-resident Bangladeshis (NRBs) are still unwilling to remit their money home through official channels, thanks to slower and cumbersome documentation process of the banks, said Asian Development

Patent Right
India, Pakistan to jointly fight for basmati rice
India and Pakistan have agreed to jointly fight a battle in global trade forums for basmati rice to check against patenting of the commodity by other countries, ending their dispute over the premium long-grain

US employers bracing for immigration rules
Employers across the country may have to fire workers with questionable Social Security numbers to avoid getting snagged in a Bush administration crackdown on illegal immigrants.

India inflation eases after interest rates left steady
India's inflation rate eased to 4.36 percent on falling food prices, official data on Friday showed, after the central bank held benchmark interest rates steady earlier in the week.

UAE deports striking workers
The United Arab Emirates (UAE) has deported two dozen striking foreign construction workers who had been demanding a pay hike and were refusing to return to work, the Gulf News daily reported on Friday.

Sri Lanka earns more by selling less tea
Sri Lanka's tea export volumes fell by 10 percent in the first six months of this year, but earnings rose marginally by three percent, a commodity broker said Thursday.

Lanka to issue $500m int'l bond
The Central Bank of Sri Lanka, on behalf of the Government of Sri Lanka, is due to issue an international bond amounting to US dollars 500 million in international markets in 2007.

US job growth unexpectedly low
The US jobs market softened dramatically in July, with employers adding a weaker than expected 92,000 jobs, after 126,000 the previous month, and unemployment rising up a notch, the Labor Department said

Japan, SKorea agree on open skies deal
Japan and South Korea have reached an open skies agreement, giving the two countries' carriers the freedom to increase flights as they wish, officials said Friday.

CRAB renews deal with Indian rating agency ICRA
Credit Rating Agency of Bangladesh (CRAB) Ltd has renewed its technical cooperation agreement with Indian rating agency ICRA for another 3 years, says a press release.

China launches food price investigation
China's government announced an investigation Friday of sharply rising food prices, accusing companies of hoarding and threatening social stability.

US, China agree on product safety plan
Beijing and Washington have agreed to cooperate more closely on product and food safety, the two governments announced. That move came as U.S.

Oil prices ease
World oil prices eased on Friday as traders paused for breath following a week which saw New York crude strike a record high 78.77 dollars per barrel on concerns over US energy supplies.

Toyota posts record 32pc quarterly profit
Toyota, on track to overtake General Motors as the world's biggest automaker this year, said Friday its April-June profit jumped 32.

Honda Malaysia sets target for 2 new models
Honda Malaysia Sdn Bhd expects to sell 60 units annually of each of its newly launched Civic Type R and Civic Hybrid in the local market, managing director and chief executive officer Atsushi Fujimoto

Weekly Currency Roundup
July 29-August 02, 2007
Local FX Market
The US dollar/BDT market was liquid and USD remained steady against the BDT in the week. The dollar showed little movement against the Bangladeshitaka.