The Daily Star: Internet Edition Fri. June 03, 2005

Vol. 5 Num 361

Fri. June 03, 2005


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Business

Requisition of vehicles takes toll on RMG export
BGMEA tells Ctg police
BGMEA leaders yesterday asked Chittagong Metropolitan Police (CMP) not to requisition vehicles that are on export duty, saying such harassment by the police is taking toll on export of readymade garments.

Customs fines two firms Tk 4cr for duty evasion
Customs in a rare departmental case has fined two trading firms Tk 4 crore and confiscated goods worth Tk one crore for duty evasion while importing goods from India through Benapole land port.

Beximco Pharma to raise Tk 3.15b from London Stock Exchange
In a bid to re-engineer financial structure, Beximco Pharma-ceuticals Ltd yesterday said it will raise nearly Tk 3.15 billion from Alternative Investment Market (AIM) of London Stock Exchange (LSE).

Nokia to make cellphone infrastructure in India
Nokia announced last Tuesday that it will establish a high-end Base Station Controller (BSC) manufacturing unit in Chennai.

China won't link yuan issue with textile row
Commerce minister says
China will not link the issue of reforming its currency with an international row over its booming textile exports, Commerce minister Bo Xilai said Thursday.

SEDF, BGMEA sign MoU to host LDC meet
SouthAsia Enterprise Development Facility (SEDF) will help Bangladesh Garments Manufacturers & Exporters Association (BGMEA) host a conference of 15 Asian least developed countries (LDCs) in Dhaka between

China scraps import tariffs on Taiwan fruits
Following up on goodies pledged during the recent mainland visits of two Taipei politicians, China said Wednesday it will drop import tariffs on 15 Taiwanese fruits, including pineapples and papayas.

Beximco Pharma okays 5pc cash, 25pc stock dividends
Beximco Pharmaceuticals Limited has declared 5 percent cash and 25 percent stock dividends for its shareholders.

Oil prices cool ahead of US inventories
World oil prices cooled slightly Thursday ahead of keenly awaited data on US crude stockpiles, a day after surging by more than two dollars on supply fears.

BASIC Bank okays 27.5pc dividend
BASIC Bank Ltd has declared for the year 2004 a 27.5 percent dividend of which 20 percent is stock and 7.5 percent is cash dividend.

Unilever, AKTEL sign deal on music talent hunt
Unilever Bangladesh Ltd and ATKEL have signed an agreement regarding SMS voting services for Close Up1, a programme to hunt music talents in the country.

New DMD of Gonophone
Neaz-Ur-Rahim, former general manager (Security and Surveillance) of BTTB, has taken over as the deputy managing director of Gonophone Bangladesh Ltd.

Jakarta cuts jet fuel price to support airline business
Indonesia said Thursday it would lower the price of jet fuel for June by 7.0 percent, a move that will relieve pressure on the country's struggling domestic aviation business.

WTO head urges govts to step up efforts on new trade pact
The head of the World Trade Organisation (WTO) on Thursday urged governments to step up efforts to drive forward talks to liberalize global commerce, warning that a negotiating deadline is near.

BoJ calls for lowering reserve target
The Bank of Japan should consider gradually lowering its liquidity target range to reflect receding demand for funds from commercial banks, Atsushi Mizuno, a central bank policy board member, said Thursday.