The Daily Star: Internet Edition Thu. May 12, 2005

Vol. 5 Num 339

Thu. May 12, 2005


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Business

Economy continues facing medium-term risks
Says ADB quarterly update on Bangladesh
Bangladesh economy continues facing a number of medium-term risks including longer-term impact of the MFA phaseout on garment industry, a possible increase in hartal especially in the run-up to the next

Duty-free Access to US Market
US lawmakers assure Dhaka of full support
Five US lawmakers have assured Bangladesh of their full support in getting duty-free access of textiles and other products to American market as a bill seeking the facility is placed in Congress.

Premier Bank IPO Scam
SEC sends back probe report to enforcement body to recheck
The Securities and Exchange Commission (SEC) yesterday sent back the probe report on Premier Bank IPO scam to its enforcement committee to recheck the violations with the legal provisions in the Depository

Baira seeks changes to anti-money laundering law to boost remittance
Bangladesh Association of International Recruiting Agencies (Baira) yesterday urged the government to make some amendments to the anti-money laundering act to boost remittance through legal channels.

Pakistan mulls FTA with S’pore
Pakistan intends to broker a "comprehensive" free trade agreement (FTA) with Singapore as part of its drive for closer economic ties with Southeast Asia, Prime Minister Shaukat Aziz said here Wednesday.

Sonargaon hotel launches wireless internet service
Pan Pacific Sonargaon hotel yesterday introduced high-speed broadband internet service with wireless access facility for its guests.

Bank Asia declares 25pc stock dividend
Bank Asia Limited has approved a 25 percent stock dividend for its shareholders.

Transcom Electronics launches promotional offer
Transcom Electronics Limited has launched a consumer promotional offer styled 'Ghasha Carde Thasha Upahar'.

Pepsi offer to meet Amitabh continues
Soft drink giant Pepsi's promotional campaign to provide its customers with the opportunity to meet Indian film icon Amitabh Bachhan is going on.

Oil prices fall
Oil prices sagged on Wednesday as the International Energy Agency said weakening economic growth and higher fuel costs slowed oil demand growth in the first quarter of this year.

Suvastu's 50-50 fair begins today
With an offer of handing over of shops with 50 percent payment, a weeklong "50-50" fair begins at Suvastu Nazar Valley in the capital's Progoti Sarani today.

Microsoft, Tata team up to deliver IT solutions
US computer software giant Microsoft Corp. and India's biggest software services exporter, Tata Consultancy Services, announced plans Tuesday to jointly deliver information technology solutions.

EU hopes to avoid safeguard steps in curbing Chinese textile exports
The European Union does want to impose safeguard measures to stem a rising tide of Chinese textile exports and instead hopes China will agree to voluntarily curb them, a senior EU diplomat said Wednesday.

No plan to adjust currency next week: China's central bank
China's central bank said Wednesday it has no plans to adjust its currency system next week after media reports added to intense speculation that it was readying to revalue or widen the yuan's trading