The Daily Star: Internet Edition Fri. August 05, 2005

Vol. 5 Num 424

Fri. August 05, 2005


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Business

Financial sector needs homegrown reforms
BEA seminar observes
Homegrown reforms are needed to bring discipline in the country's financial sector, speakers at a seminar said yesterday in Dhaka.

FBCCI Election
No verdict of hearing at arbitration board
The FBCCI arbitration board yesterday heard an appeal, which sought permission to submit nomination papers of a candidate afresh for the biennial election of the country's apex trade body, but returned

Graft, red tapes, poor infrastructure up cost of business
DCCI seminar told
Corruption, poor infrastructure facilities and bureaucratic tangles in Bangladesh are increasing the cost of doing business, speakers at a seminar observed in Dhaka Wednesday.

Saifur for Dhaka-Jakarta air link to boost trade
Finance Minister Saifur Rahman has urged the Indonesian government to take steps for introducing direct air link between Dhaka and Jakarta to boost bilateral trade.

Mobile phones to reach 2b subscribers this year
The worldwide mobile phone market will cross two billion subscribers this year and be approaching three billion by the end of 2010, according to the latest edition of the Global Mobile Forecasts to 2010

SEC extends time for securities firms to become limited cos
The Securities and Exchange Commission (SEC) yesterday extended the deadline for conversion of proprietorship-based securities firms into limited companies by six more months, official sources said.

Govt team visits Benapole to probe allegation of age- old truck import
A high-powered government team Wednesday visited Benapole land port to look into the allegation of import of age-old Indian trucks violating rules.

Oracle to buy majority stake of Indian I-Flex for $900m
The US software maker Oracle has announced on Tuesday a $ 900 million deal to buy out majority stake in India's blue chip financial software services company I-Flex Solutions, signalling another round

Canadian co to invest $1.289m in Adamjee EPZ
Canadian company Hy-Lan Sweater International Limited will set up a computerised hi-speed sweater manufacturing factory in Adamjee Export Processing Zone (EPZ).

Lankan tourist arrivals up 42pc, but hoteliers unhappy
Tourism authorities say tourist numbers to the island are increasing but hoteliers and inbound tour operators say the industry is in dire straits.

ROK, S'pore ink free trade agreement
South Korea on Thursday signed a landmark free trade agreement (FTA) with Singapore, a first with an Asian country, the foreign ministry here said.

Further changes to yuan at proper time: Central bank
China's central bank said Thursday that it will make further adjustments to the yuan at an appropriate time, signalling that more changes to the currency would be forthcoming after a 2.

SingTel earnings up 14pc; regional units mixed
Au Singapore Telecommunication said Thursday its first quarter to June net profit rose 13.