The Daily Star: Internet Edition Tue. August 23, 2005

Vol. 5 Num 442

Tue. August 23, 2005


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Business

Fake BO Accounts
Three merchant banks blacklisted
1,53,000 shares of Grameen Mutual blocked
The Securities and Exchange Commission (SEC) has blacklisted three merchant banks for their alleged involvement in applying for primary shares through fake beneficiary owners' accounts.

Attract more FDI in RMG sector
World Bank seminar advises govt
Speakers at a seminar at the World Bank Dhaka office yesterday advised the government to encourage more foreign direct investment (FDI) in the garment sector as productivity in the foreign-invested companies

Tariff cut under NAMA may threaten knitwear export
Speakers at a seminar yesterday said the knitwear sector is enjoying high growth in export in the quota-free post-MFA period, but could be at risk once the tariffs on non-agricultural items are reduced

Responsibilities for UNDP projects shifted to recipients
Full responsibilities for execution, implementation and management of a development programme or a project financed by UNDP have been vested in the recipient government or any national entity, aimingto

New round of Australia-China FTA talks begin in Beijing
Australia and China Monday began a second round of talks on a free trade agreement that could eventually be worth some 20 billion dollars to the Australian economy, officials said.

RanksTel signs distributorship deal with Citi Telecom Ltd
RanksTel has signed a distributorship agreement with Citi Telecom Limited, a concern of Chittagong City Corporation.

Banks directed to maintain 5pc provisioning for SMA
Bangladesh Bank (BB) in a circular yesterday directed all the banks to maintain five percent provisioning for the Special Mention Account (SMA) to bring more discipline in loan disbursement and recovery

Bangla-British fusion food festival kicks off tomorrow
A seven-day international fusion food festival will begin tomorrow at Dhaka Sheraton Hotel.

Govt urged to ban poultry products import to avoid bird flu
Leaders of the Bangladesh Egg Producers Association yesterday urged the government to impose a permanent ban on import of eggs, chicks and poultry products from eight Asian countries including India to

Box set at SEC office to receive complaints
Securities and Exchange Commission (SEC), the regulatory body of the capital market, has set up a box at its office to receive complaints from investors.

Seminar on global raw cotton held
A seminar on global raw cotton and textile market was held in Dhaka Sunday.

China likely to sign textiles deal with US next month
Chinese and US negotiators aim to thrash out a deal over China's surging textile exports for President Hu Jintao and US President Bush to sign next month, an industry executive said in remarks published

Oil holds above $65 on supply jitters
Oil held above $65 a barrel on Monday after being driven higher late last week by concerns over potential supply disruptions in the volatile Middle East.

US crude was off 13 cents at $65.

Correction
In a news item headlined 'StanChart wraps up purchase of Amex business in Bangladesh' published on this page yesterday, it was inadvertently printed that Amex will cease to operate in Bangladesh fromNovember