The Daily Star: Internet Edition Wed. January 17, 2007

Vol. 5 Num 937

Wed. January 17, 2007


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Business

25 missions miss export targets in Jul-Oct
Performance of the Bangladeshi missions abroad to reach export target has marked a slight improvement with the number of dismal performers declining to 25 from 27.

Graft costs Lanka billion dollars a year
Kick-backs and crooked deals cost Sri Lanka over a billion dollars last year amounting to about a fifth of tax revenue, the country's top official whistle-blower told AFP in an interview.

Public-private role seen key to building infrastructure
Public-private partnership is needed to develop infrastructure facilities in Bangladesh, faced with poor tax-GDP ratio and shrinking foreign aid, speakers told a function in Dhaka yesterday.

Brac microcredit securitisation honoured
The world's first triple A rated local currency securitisation of microcredit receivables for Brac has been recognized by the financial media as one of the most innovative and ground breaking financial

China to reduce huge trade surplus
China will encourage imports and restrict exports this year in a bid to balance trade and ease the concerns of trading partners.

First Security no more a problem bank
First Security Bank Ltd has come out from 'problem bank' status.

Next few weeks 'crucial' to strike WTO deal
Says Blair
British Prime Minister Tony Blair said on Tuesday the next few weeks will be "particularly crucial" for a deal on the stalled Doha round of World Trade Organization talks.

India urges foreign firms to invest in hydrocarbons
India invited yesterday foreign companies to invest in its hydrocarbon sector noting that a bulk of the country's oil and gas potential still remains 'locked up' in its basins.

Rumee Ali made MD of Enterprisesat Brac
Muhammad A (Rumee) Ali, former deputy governor of Bangladesh Bank, has been appointed managing director of Enterprises at Brac.

Banglalink TV commercial gets int'l award
A TV commercial of Banglalink, 'Din Bodol', has been nominated for 'The Global Mobile Awards 2007', the most prestigious award for mobile advertising, organised by World GSM Association, says a pressrelease.

Citigroup to rebrand with shorter name
Executives at financial giant Citigroup Inc are preparing to rebrand the company with a shorter name Citi and a new logo without the signature red umbrella, according to a published report.

New chairman of City Bank
Aziz Al-Kaiser has been elected chairman of the Board of Directors of The City Bank Limited with immediate effect, says a press release. Mohammed Shoeb has also been made vice-chairman of the bank.

British Airways workers vote to strike
Thousands of British Airways employees have voted to strike following disputes centering on sick pay and pensions, union officials said Monday.

Jail term sought for Hyundai chief
Prosecutors demanded a six-year prison term against Hyundai Motor Co. Chairman Chung Mong-koo for embezzlement and other charges Tuesday, adding to the woes of the largest South Korean automaker.

Gemini Sea Food approves 25pc dividend
Gemini Sea Food Ltd has approved a 25 percent dividend for its shareholders for the year 2005-06.

Africa the big loser if Doha talks fail: Lamy
Africa must change its stance to prevent the failure of the Doha Round of trade opening talks or face being the big loser, World Trade Organisation (WTO) chief Pascal Lamy said Tuesday.

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