The Daily Star: Internet Edition Wed. June 21, 2006

Vol. 5 Num 734

Wed. June 21, 2006


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Business

Political uncertainty may lower growth in FY07
Says Citigroup report on Bangladesh
US banking giant Citigroup forecast a low economic growth in FY07 in Bangladesh due to an uncertain political environment. "While GDP growth in FY06 came a 29-year high at 6.

Int'l trade centre opens tomorrow
Entrepreneurs to get access to trade-related database
Bangladesh is going to open an international trade centre (ITC) offering easy access of entrepreneurs to a world-famous trade-related online database and a web portal as part of an aggressive drive for

China seeks speedier restructuring of textile industry
China's textile industry has been urged to speed up restructuring to focus more on innovation and higher-value products, state media said Tuesday.

Govt urged to recognise buying houses' assoc
Leaders of Bangladesh garment buying houses have urged the government to recognise their association as a trade body.

Oil prices rebound
World oil prices rallied slightly on Tuesday as the market focused on renewed tensions over Iran and the US hurricane season that could again disrupt energy supplies, analysts said.

Desco a role model for power firms
Seminar told
Speakers at a seminar yesterday said the Dhaka Electric Supply Company (Desco) is a role model for power distribution companies.

ADB chief urges Asia to make more efficient use of energy
Asia must use energy more efficiently because the actions of the world's most populous continent will have a large bearing on climate change, Asian Development Bank president Haruhiko Kuroda said Tuesday.

Container congestion
Customs starts auction process
Chittagong customs authorities here yesterday started the process of putting imported goods of 1,100 consignments on auction.

Dollar steady in Asia on US rate hike expectations
The dollar was steady in Asian trade Tuesday, helped by an increasing expectations that the Federal Resreve will keep hiking interest rates even after this month's anticipated increase, dealers said.

Youngone to set up textile unit at Dhaka EPZ
South Korea-based Youngone Industrial Group is going to establish its 16th industrial unit at Dhaka Export Processing Zone (DEPZ) by investing US$ 7 million to manufacture textile fabrics.

Future cellphone growth to come from poor states
Future expansion in the mobile telephone business will come from developing economies whose less than affluent consumers cannot be overlooked while overall growth slows, experts said Tuesday.

Call centres to generate $7.3b for Philippines by 2010
Annual foreign exchange earnings from the Philippines call centre industry will nearly triple to 7.3 billion dollars in 2010, up from about 2.6 billion dollars this year, an industry leader said Tuesday.

Kuwait to set up $1.2b oil refinery in Pakistan
Kuwait has agreed to set up an oil refinery in Pakistan involving a 1.2 billion dollar investment, officials said Tuesday.

Chinese PM sees no 'selfish interests' in African deals
China on Monday signed seven cooperation accords with the Republic of Congo as Chinese Prime Minister Wen Jiabao insisted Beijing had no "selfish interests" in pursing deals in Africa.

Thai Airways expects big turnaround in second quarter
Flag carrier Thai Airways International expects a big turnaround in the quarter ending June 30 compared to its 117-million-dollar loss in the same period last year, executives said Tuesday.