The Daily Star: Internet Edition Fri. May 27, 2005

Vol. 5 Num 354

Fri. May 27, 2005


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Business

Dhaka to seek help for ship building, Mongla port
Bangladesh-Malaysia Joint Commission Meeting begins June 7
Bangladesh will seek Malaysian investment in ship building industry and Mongla port development during the Bangladesh-Malaysia Joint Commission Meeting (JCM) to be held on June 7 in Dhaka.

11 banks asked to cut non-performing loans
In a bid to minimise default loan, Bangladesh Bank yesterday instructed managing directors of eleven banks to make a projection on what level they will be able to cut the ratio of non-performing loans

Failure to Hold AGMs, Submit Financial Statements
SEC fines 9 officials of 2 companies
The Securities and Exchange Commission (SEC) yesterday fined nine management officials, including chairmen and managing directors, of two companies for failing to hold annual general meetings (AGMs) and

Altaf seeks Italian aid for leather sector
Commerce Minister Altaf Hossain Choudhury has sought assistance of the Italian government in supporting the emerging leather sector in Bangladesh to produce high quality leather products through transfer

Fish export to India thru' Benapole suspended
Export of all kind of fishes, including hilsa, to India through Benapole border remains suspended from May 16 following a ban imposed by Delhi.

Inflation under control, says Indian finance minister
Indian inflation is under control after a year of record oil prices, but more strong economic growth depends on a successful annual monsoon, Finance Minister P. Chidambaram told reporters Thursday.

Thai ISPs seek level-playing field
Twenty internet service providers in Thailand called on the National Telecommunications Commission (NTC) Wednesday to ensure a level-playing field for old and new business operators before it issues new

Rising Group to set up spinning mill
Rising Group, a leading apparel manufacturer, yesterday signed a syndicated term loan agreement with six local private banks to set up a spinning mill with a daily production capacity of 20 tonnes yarn.

Fakhruddin Ahmed made PKSF MD
Fakhruddin Ahmed, former governor of Bangladesh Bank, has been appointed new managing director of Palli Karma-Sahayak Foundation (PKSF), a press release said Thursday.

Reliance Ins recommends 10pc cash, 1:3 stock dividends
Reliance Insurance Ltd has recommended a 10 percent cash dividend and 1:3 stock dividend that is one bonus share for every three shares for its shareholders for the year 2004.

Kay & Que Bangladesh okays 5pc dividend
Kay & Que (Bangladesh) Ltd has declared a five percent dividend for its shareholders for the year 2004.

India to allow local cos to invest in diamond mines abroad
India is considering allowing domestic companies to invest in diamond mines abroad to ensure uninterrupted supply of rough diamonds for cutting and polishing, Commerce and Industry Minister Kamal Nath

Kenya says 40,000 jobs threatened by China textile
Kenyan President Mwai Kibaki on Thursday ordered urgent action to save some 40,000 textile industry jobs threatened by a massive surge in Chinese clothing exports to the United States and Europe.

EU to seek urgent talks with China over textile imports
The EU's executive commission said Wednesday it would seek urgent talks with Beijing on surging Chinese textile exports, in the latest step towards imposing limits in a row with the Asian economic giant.

WTO to start membership talks with Iran
The World Trade Organisation on Thursday decided to start membership talks with Iran, after the United States lifted its long-standing opposition to Tehran's bid, Iran's ambassador said.

Pragati Ins declares 20pc cash, 25pc stock dividends
Pragati Insurance Ltd has declared a 20 percent cash dividend and a 25 percent stock dividend for its shareholders for the year 2004.