The Daily Star: Internet Edition Tue. April 24, 2007

Vol. 5 Num 1029

Tue. April 24, 2007


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Business

Rajuk's delay in okaying new project designs stifles housing growth
Blames REHAB
Developers yesterday blamed city planners for unprecedented delays in approving new project designs, which has stifled growth in the sector.

Govt may cut discretionary power of tax officials
NBR chairman says
The government is actively considering curtailing the discretionary power of the customs and tax officials, the chief of the tax administration told businesspeople in the port city Sunday.

Ctg Port NCT Management
Finish pre-qualification process to appoint pvt firm in 10 days
Shipping adviser asks officials
Shipping Adviser M A Matin yesterday asked the officials of the shipping ministry to complete the pre-qualification process for appointing a private operator for new mooring container terminal (NCT) at

Foreigners, locals urged to up investment in yarn, fabric production
Cotton and textile convention begins
The textiles and jute adviser has urged foreigners and locals to increase investment in yarn and fabric production to ensure a smooth supply for the garment industry.

Dhaka Bank arranges Tk 68cr for new paper mill
A major paper mill will be set up at Shantapara of Ghorashal in Narsingdi district.

HSBC celebrates 'Greater China Trade Day' today
HSBC's trade teams across Asia-Pacific will celebrate 'Greater China Trade Day' today to promote the bank's capabilities to support trade with companies operating in mainland China, Hong Kong, Taiwanand

IFC gives $5m trade finance facilities to Southeast Bank
International Finance Corporation (IFC), the private sector arm of the World Bank Group, yesterday announced that local Southeast Bank is joining its Global Trade Finance Programme under which IFC isproviding

SEC fines 3 firm directors
The Securities and Exchange Commission (SEC) has fined all directors of three textile companies -- Sripur Textile Mills Limited, Kashem Silk Mills Limited and Kashem Textile Mills Limited -- for violation

Wolfowitz must quit, say ex-World Bank executives
More than 40 senior former World Bank officials called Monday for the immediate resignation of its embattled leader Paul Wolfowitz, saying he had lost trust and respect.

China to boost oil reserves
China's future energy demands will rely more heavily on clean power such as wind and solar, but more oil would be stockpiled in case of emergencies, a top official said.

India may keep key rates unchanged
Under pressure not to halt rapid growth, India's central bank may keep key rates unchanged when it meets on Tuesday, even though inflation is well above its target zone, analysts said Monday.

Citigroup, HSBC launch retail business in China
US-based Citigroup and Britain's HSBC were among a group of banks that started providing local-currency retail services in China Monday after receiving the final green light, state media said.

SingTel eyes central Asia, Middle East
Singapore Telecommunications is eyeing investment opportunities in central Asia and the Middle East, but its business will primarily be focused in Asia, its new chief executive said Monday.

Currency