The Daily Star: Internet Edition Tue. April 19, 2005

Vol. 5 Num 318

Tue. April 19, 2005


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Business

New slab blamed for low import duty collection
Collection of import duty declined by 2.75 percent in the first nine months of the current fiscal due to introduction of three tier duty slab instead of four tier slab and reduction of rate in the highest tax slab.

Address compliance issues to survive in global market
Speakers tell seminar on knitwear
In order to match the global standard, speakers at a seminar yesterday underscored the need for meeting social and environment compliance issues in the export-oriented knitwear sector.

BB Restriction
Tk 150cr garment export at stake
Uncertainties loomed large on export of readymade garments worth Tk 150 crore after Bangladesh Bank imposed restrictions on 19 branches of 13 nationalised and private banks to open LCs, BGMEA sourcessaid

Petrobangla asked to submit report on money losses
The Energy Ministry yesterday asked Petrobangla to submit a full-fledged report on losses of money and time for re-tendering of different projects.

Bangladesh promises high for captive power generation
Bangladesh is set to be a booming market for captive power generation as textile, pharmaceuticals and frozen foods sectors are growing rapidly, felt Farrukh J.

Dream Knitting to invest $1.67m in CEPZ
Dream Knitting (BD) Limited, a Japan-Bangladesh joint venture composite knit textile industry, will invest US$ 1.67 million in the Chittagong Export Processing Zone.

ADB South Asia DG arrives tomorrow
Kunio Senga, director general of South Asian Department of the Asian Development Bank (ADB), will visit Bangladesh from April 20 to 22.

Islamic Finance and Investment okays 10pc stock dividend
Islamic Finance and Investment Limited (IFIL) has approved a 10 percent stock dividend for its shareholders.

Eastern Housing, DBH sign MoU
Real estate developer Eastern Housing Ltd has signed memorandum of understanding (MoU) with Delta Brac Housing Finance Corporation Ltd (DBH) in Dhaka recently.

Citigroup posts $5.44b Q1 net income
Citigroup, a global financial services company and the parent company of Citibank, NA, has posted a $5.44 billion net income after tax for the first three months that ended on March 31, 2005.

Bakhteyer made panel member of ICC body
Md Bakhteyer Hossain, senior principal officer of Mutual Trust Bank Limited, has been selected a member of expert panel of Documentary Credit Dispute Resolution Expertise (Docdex) of the Paris based International

Pakistan rolls out first locally designed car
Pakistan on Monday launched its first locally designed car, saying it had joined an elite group of 16 countries to achieve the feat.

Qatar Airways keen to fly to Ctg, Sylhet
Besides raising frequencies of flights to Dhaka, Qatar Airways is also interested to operate in Chittagong and Sylhet.

More aid, debt relief needed to help poor nations
Finance chiefs say
International Monetary Fund and World Bank meetings closed Sunday with a broad sense that more aid is needed to help poor nations, but with donors still haggling over numbers and the best approach.

China, Australia sign deal to negotiate free trade pact
China and Australia Monday signed an agreement to begin negotiations on a free trade pact, with visiting Prime Minister John Howard also announcing Canberra's recognition of China as free market economy.