The Daily Star: Internet Edition Sun. June 12, 2005

Vol. 5 Num 370

Sun. June 12, 2005


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Business

Withdraw money whitening facility
Unnayan Samannay urges finance minister
Terming the proposed budget anti-social and anti-justice, Unnayan Samannay, an NGO, yesterday criticised the finance minister for extending the time limit for whitening black money by another one year.

Basis urges govt to lift 10pc tax on software business
Bangladesh Association of Software and Information Services (Basis) yesterday urged the government to withdraw 10 percent corporate income tax on software businesses from the fiscal year 2006 to FY 2008.

Up money whitening levy to 10pc
Demand tax lawyers
Jatiya Kar Ainjibi Samiti (JKAS), an association of tax lawyers, yesterday demanded that the government increase tax rate for whitening black money to 10 percent from the proposed 7.5 percent.

BTMA seeks withdrawal of import duty on dyeing chemicals
Bangladesh Textile Mills Association (BTMA) in its budget reaction yesterday demanded exemption of value added tax (VAT) and import duty on dyeing chemicals, saying that tax on chemicals is zero in other

Capital market to benefit from proposed budget
The Dhaka Stock Exchange (DSE) yesterday appreciated the proposed budget for widening tax gap between listed and non-listed companies and withdrawal of dividend distribution tax.

Dollar strikes nine-month high against euro
The dollar rose to its highest level against the euro in nine months Friday after the US trade deficit came in somewhat better than expected.
The euro bought 1.2122 dollars at 2100 GMT from 1.

Wintel launches customer rewarding scheme today
Customers will be able to earn reward points against commodity and service purchases under a programme, the first of its kind in Bangladesh.

ICC-B workshop on credit risk management
International Chamber of Commerce-Bangladesh (ICC-B) organised a two-day workshop on 'Credit Risk Management' in Dhaka yesterday.

Saudi backs Opec ceiling hike
Saudi Arabia's powerful oil minister said on Saturday he supported a 500,000 barrel per day rise in Opec's output ceiling and that current prices above $50 a barrel were "too high" and should be brought

Eastern Bank launches Jiban Dhara Loan
Eastern bank Ltd has introduced a new loan scheme, Jiban Dhara Loan, to help people refurbish their lifestyle.

Renata okays 50pc cash, 20pc stock dividends
Renata Limited has declared a 50 percent cash dividend and a 20 percent stock dividend for its shareholders for the year 2004.

Ibn Sina Pharma declares 21pc dividend
The Ibn Sina Pharmaceutical Industry Ltd has okayed a 21 percent dividend for its shareholders for the year 2004.

Citigroup to pay $2b to settle Enron lawsuit
Citigroup Inc, a financial services company, will pay $2 billion to settle a class-action lawsuit over its role in helping Enron Corp.

EU urges textile industry to adapt after China deal
The European Union urged parts of its textile industry on Saturday to adapt to growing competition after the bloc won breathing space in a deal with China to limit imports of Chinese textiles.

G8 close to ‘historic’ debt relief deal
Group of Eight finance (G8) ministers were Saturday on the brink of sealing an "historic" deal to scrap multilateral debt totalling billions of dollars owed by the world's poorest countries.

Indian textile firms look to gain from China's woes
Indian textile makers are raising money and pulling in foreign partners to ramp up production quickly after global quotas elapsed, moves gaining fresh impetus from China's trade dispute with the United