The Daily Star: Internet Edition Wed. March 22, 2006

Vol. 5 Num 645

Wed. March 22, 2006


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Business

Call money rate jumps to 43pc
When the foreign exchange market seems to be stable, interest rate in call money market has started rising as the rate jumped to 43 percent yesterday from the previous day's 30 percent.

Joint ventures can cut Dhaka-Bangkok trade imbalance
Seminar observes
Business leaders and policy makers of Thailand and Bangladesh have underscored the need for taking steps to form joint venture projects to reduce growing trade imbalance between the two countries.

First Safta ministerial meet likely in Dhaka next month
The first meeting of Safta Ministerial Council of Commerce Ministers is proposed to be held here on April 20 to take measures for making operational the South Asian Free Trade Area that has been given

Innovative Financing for Development
France to impose solidarity levy on air tickets from July 1
France will impose international solidarity levy on air tickets from July 1, 2006 to generate 200 million euros annually in a bid to increase its contribution to official development assistance for developing

Indian central bank appoints panel to prepare rupee float
India's central bank has appointed an expert panel to create a fully convertible rupee, a move which is expected to boost much needed foreign investment in the fast growing economy.

Nitol Motors, Indian firm to set up tractor plant in Bangladesh
Nitol Motors Limited of Bangladesh and Escorts India Ltd of India yesterday signed a memorandum of understanding (MoU) to set up a joint venture tractor manufacturing facility in Bangladesh at a costof

Toyota launches Yaris car
Toyota, the world's leading car maker, yesterday introduced a new generation car, Yaris, in local market.

Dutch-Bangla Bank Ltd recommends 25pc dividend
The board of directors of Dutch-Bangla Bank Ltd yesterday recommended a 25 percent cash dividend for the year 2005, says a press release.

Oil prices continue lower in Asian trade
Oil prices in Asian trade continued lower to test the key 60 dollar support level Tuesday as expectations of a build in US crude stockpiles this week depressed prices further, dealers said.

US lawmakers in China as yuan battle heats up
Two US lawmakers hoping to pressure China into revaluing its currency began talks here Tuesday, insisting they were still worried about the yuan despite encouraging signs of flexibility last week.

Energy independence illusory for developed economies: IEA
The quest for energy independence by the world's top economies is illusory, and European nations in particular would be better served by developing natural gas supplies from Russia, said the head of the

ADB to double investments in Asia water projects
The Asian Development Bank (ADB) intends to double annual investment in Asian water projects to two billion dollars over the next five years, a senior ADB official said here Monday.

Office bearers of ICAB's Dhaka regional body
Md Anisur Rahman and Harun-or-Rashid have been elected chairman and secretary of the Dhaka Regional Committee (DRC) of Institute of Chartered Accountants of Bangladesh (ICAB).

i-mobile TV 901 set hits local market by May
i-mobile international, a Thailand-based mobile set manufacturer, is going to launch its 'i-mobile TV 901' handset in Bangladesh market by May, officials announced yesterday in Dhaka.

Bank holiday March 26
Bangladesh Bank and all scheduled banks will remain closed on Sunday (March 26) on the occasion of Independence and National Day, said a press release.

Google launches financial news
Google Inc. is introducing a financial news, stock quote and chat service that seeks to shake up the online finance information market now dominated by Internet media rivals and online brokers.

Nissan to sell most of truck division stake to Volvo
Nissan Motor said Tuesday it will sell 13 percent out of its 19 percent shareholding in Nissan Diesel Motor to Sweden's Volvo for 1.5 billion Krona (195 million dollars).