The Daily Star: Internet Edition Sat. May 20, 2006

Vol. 5 Num 701

Sat. May 20, 2006


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Business

Spiralling Prices of Essentials
Action against syndicate by June, says Hafiz
Meet with bazaar committee soon to fix prices
The government will identify the people responsible for spiralling prices of essentials, including sugar, and take stern action against the syndicate by June, Commerce Minister Hafiz Uddin Ahmed said

Saarc nations differ over non-tariff barriers
Differences have surfaced among seven members of the South Asian Association for Regional Cooperation (Saarc) over the issue of non-tariff barriers (NTBs) and safeguard measures after they tried to defend

Tata Motors, Videocon plan Rs 2,150cr investment in West Bengal
West Bengal's Marxist Chief Minister Buddhadeb Bhattacharjee could not have asked for a better beginning in his second successive stint in the top post as two major Indian industrial houses-- Tata Motors

Top central bankers to advise IMF on fund-raising
The IMF said Thursday it had appointed an illustrious panel of advisors, including former Federal Reserve chief Alan Greenspan, to come up with ideas to avert a cash crisis for the global lender.

Japan's economic growth slows but beats forecasts
Japan said its economic growth slowed in the first quarter from the fast pace of late last year as consumer spending cooled and imports rose but it was still a better performance than expected.

Oil prices continue to rebound
Oil prices rebounded on Friday as concerns resurfaced over major crude producers Iran and Nigeria, dealers said.
In London, Brent North Sea crude for July delivery advanced by 18 cents to 69.

China steelmakers in emergency meeting over iron ore prices
Chinese steelmakers held an emergency meeting Friday after major Japanese and European steel groups agreed to a sharp rise in the price of iron ore that is likely to force China's mills to follow suit.

Poland, India sign deal to boost trade
Poland and India signed a cooperation agreement Friday aimed at boosting trade and investment between the two countries, officials said.

StanChart launches 'Business Account'
Standard Chartered SME Banking recently launched 'Business Account' in Bangladesh, which is a hybrid deposit account with unique features and benefits, especially developed to cater to the financial needs

S'pore launches new service to boost SMEs
Singapore's SME (small and medium-sized enterprises) Credit Bureau launched a new service, the Singapore Business Toolkit, to help SMEs finance, Minister of State for Education and Trade and IndustryChan

Toyota eyes 8th plant in North America
Toyota Motor Corp is considering building an eighth North American plant as it looks to expand production on US soil to try to avert trade spats with Washington, a report said Friday.

Weekly Currency Roundup
May 14-May 18, 2006
Local FX Market
Demand for US dollar was stable in this week and USD declined slightly against Bangladeshi taka.

Mittal boosts Arcelor bid to $32.94b
Mittal Steel said on Friday that it had raised its hostile takeover bid for Arcelor to 25.8 billion euros (32.94 billion dollars) from 18.6 billion euros.

IMF chief nominates new deputy
International Monetary Fund chief Rodrigo Rato Thursday nominated a new deputy to succeed Anne Krueger, who is stepping down after five years in the job.

Reckitt Benckiser declares 42pc dividend
Reckitt Benckiser (Bangladesh) Ltd has declared a 42 per cent dividend for its shareholders for the year 2005.