The Daily Star: Internet Edition Sun. February 20, 2005

Vol. 5 Num 262

Sun. February 20, 2005


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Business

Global Ins IPO eight times oversubscribed
The initial public offering (IPO) of Global Insurance Limited has received tremendous responses from investors, oversubscribing by around eight times.

Saifur asks donors to ensure adequate fund for the poor
Finance and Planning Minister M Saifur Rahman urged world donor community to ensure adequate development funding for poor countries like Bangladesh for poverty alleviation and social uplift.

CITF to help promote local products
Organisers hope
Organisers hope Chittagong International Trade Fair (CITF) 2005 will be an outstanding congregation of buyers and sellers from home and abroad that can help promote market of local products.

Iranian FM to visit India, gas imports seen as key topic
Iran's foreign minister is to begin a three-day visit to India Sunday for talks following New Delhi's decision to launch discussions on securing gas to fuel its energy-hungry economy.

WEF Asia roundtable from Apr 28 in S'pore
The World Economic Forum in partnership with the Singapore Economic Development Board (EDB) on Friday announced its Asia roundtable that will be held in Singapore on April 28 and 29.

Air travel to Phuket falls
Phuket International Airport lost revenue of more than Bt100 million in the first two months of this year due to a sharp decline in the number of travellers after the tsunami, the airport director said

Britain invites India for July G-7 meet in Scotland
Britain has invited India for a summit of the Group of Seven industralised nations and Russia to be held in Scotland in July, a report said Saturday.
The meeting is to be held from July 6 to 8.

Singapore announces $792m in tax cuts
Singapore announced personal tax cuts and other financial breaks worth 1.3 billion Singapore dollars (792 million US) on Friday as it reported the budget would return to surplus in the next financialyear.

Inflation fears flare on surprise jump in US wholesale prices
Inflation moved to the front burner Friday after a report showing a surprisingly sharp increase in wholesale prices prompted a reassessment of the US economic outlook.

Pak economy to grow at 8pc in coming years: Aziz
Pakistan's economy is expected to achieve a growth rate of eight percent over the next several years, Prime Minister Shawkat Aziz said here Saturday.

US, Central American countries add green provisions to FTA
The United States and Central American nations on Friday added provisions aimed at protecting the environment in a seven-nation free trade agreement.

ECB ready to hold rates steady for now
With growth patchy, the European Central Bank is ready to hold interest rates low a while longer, even as it keeps a wary eye on inflationary risks from cheap money, ECB policymakers said Friday.

Oil prices climb back over $48
Oil prices rose Friday bolstered by expectations of possible OPEC production cuts and reversing a slide in the previous session that was triggered by hefty stock builds in the United States.

Hyundai projects new image as elegant sedan maker
Six years ago, US late-night talk show host Jay Leno compared Hyundai cars to luge sleds, saying you had to push to get them going and they only went downhill.