The Daily Star: Internet Edition Sun. December 07, 2003

Volume 4 Number 191

Sun. December 07, 2003

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Business

DSE general index crosses 1000-mark for first time
Shares with strong fundamentals continue rising
The Dhaka Stock Exchange (DSE) General Index crossed 1000-mark yesterday for the first time since its introduction two years ago.

WTO Geneva meet
Dhaka firm to maintain previous stances
Bangladesh will remain firm on its previous stances with regard to LDC issues in the World trade Organisation (WTO) during its general council meeting scheduled for December 15-16 in Geneva.

Saarc trade fair starts in Dhaka on Dec 27
A five-day Saarc Trade Fair will begin in Dhaka on December 27 aiming at expanding intra-regional trade among the seven Saarc countries.

Joint task force with Nepal formed
Bid to boost bilateral trade
Bangladesh embassy in Nepal and the Confederation of Nepalese Industries (CNI) have formed a joint taskforce to find out ways and means for strengthening bilateral trade and commerce between the two countries.

Int'l building materials show
Firms from 6 countries display products
A total of 27 companies from six countries including Bangladesh are showcasing a wide array of products at the four-day international architectural building materials exhibition, which began at DhakaSheraton

Lanka central bank governor due Tuesday
Governor of the central bank of Sri Lanka AS Jayawardne arrives in Dhaka Tuesday to open a branch of a leading Sri Lankan bank here.

Ecnec okays Tk 935cr projects
The Executive Committee of National Economic Council (Ecnec) yesterday approved nine development projects, involving nearly Tk 935 crore, including Tk 466 crore in project aid.

Management deal renewal for Dhaka Sheraton Wednesday
Starwood Hotels and Resorts Worldwide Inc and Bangladesh Services Limited, owner of Dhaka Sheraton Hotel, will renew the management contract to operate the hotel under Sheraton brand for the next five

IDLC cuts home loan interest rate
Industrial Development Leasing Company (IDLC) of Bangladesh Limited has reduced interest rate on home loan products from 15.75 per cent to 14.25 per cent for priority clients and to 14.

Call money rate falls
The call money rate fell down further yesterday, thanks to inflow of funds from the government's exchequer last week, fund managers said.

The inter-bank money rate touched its intra-day high at 8.

StanChart receives best bank award
Standard Chartered Bank has been awarded the "Best Bank" in emerging Asian currencies and emerging African/ Middle East currencies in 2003 by FX Week, says a press release.

New convenor of Merchant Bankers Assoc
Ziaul Quddus, chief executive of Swadesh Investment Management Limited, has been made convenor of Bangladesh Merchant Bankers Association recently.

Fast Super Glue
Fast Corporation (Pvt) Ltd has launched Fast Super Glue.

Patro Plus, the production unit of Dhaka-based Fast Group, has manufactured the glue, says a press release.

Asian forex reserves hit record $1.85 trillion
Asian foreign exchange reserves have hit a record high of $1.

Lifting of US steel tariffs double victory for WTO
The World Trade Organisation won a double victory with the decision by Washington to lift steel tariffs -- proving even its biggest members must obey the rules, while preventing a global trade war.

Globalisation U-turn may increase inflation
IMF's ex-chief economist says
A reversal in the globalisation trend could sharply increase global inflation, which has declined significantly since the early 1980s, according to the IMF's former chief economist, Ken Rogoff.