The Daily Star: Internet Edition Mon. December 25, 2006

Vol. 5 Num 917

Mon. December 25, 2006


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Business

Indo-Bangla Trade Under FTA
Better infrastructure at land borders to yield benefits: WB
Improvements in transportation, storage and administrative infrastructure at land borders would yield substantial benefits for Bangladesh and India in case of a pact on free trade, suggested a World Bank

IMF to quit Sri Lanka
The International Monetary Fund announced Sunday it was closing its office in Sri Lanka from next month as the embattled island no longer had a borrowing programme with them.

Rapid Industrialisation
India must abandon laidback attitude: Manmohan
Indians must abandon their laidback attitude to improving efficiency and reducing red-tape so that Asia's fourth-largest economy can industrialise rapidly, Prime Minister Manmohan Singh said Sunday.

Mamun Rashid made MD of Citigroup
Citigroup Country Officer Bangladesh Mamun Rashid has recently been promoted to the post of managing director, says a press release.

State-run banks remain open today to do polls-related transactions
The central bank yesterday asked all state-run commercial and specialised banks to keep their branches open today (Monday) to perform election-related transactions.

HK Visit
BGMEA seeks simplified visa processing
BGMEA President S M Fazlul Hoque has urged the China embassy in Dhaka to simplify visa processing to facilitate the Bangladesh RMG makers and officials' visit to Hong Kong.

China mulls same tax rate for local, overseas firms
Chinese lawmakers on Sunday mulled a draft law that would impose a 25 percent income tax on both domestic and foreign firms, eliminating the preferential rate for overseas companies, state media said.

Major Asian currencies tend upwards against dollar
Major Asian currencies ended the past week mixed with an overall upward bias against the US dollar in thin and lacklustre pre-Christmas trading.

Organon Bangladesh now Nuvista Pharma
The name of Organon (Bangladesh) Ltd has been changed to Nuvista Pharma Ltd with effect from December 7, 2006.

ASA cuts service charges
Non-government development organisation ASA has reduced its service charges by 2 percent-2.50 percent with effect from January 1, 2007.

MIDAS Financing approves 10pc stock, 2pc cash dividends
MIDAS Financing Ltd has approved a 10 percent stock dividend and a 2 percent cash dividend for its shareholders.

Growth in China economy set to slow
Growth in China's economy may slow next year due to macroeconomic controls which are curbing investment and exports, a government report said on December 22. The economy is likely to expand 9.

Japan's 2006, a year of growth
Japan's economy continued its revival in 2006 but the year was also marked by unease over social inequalities.

Currency