The Daily Star: Internet Edition Sat. May 05, 2007

Vol. 5 Num 1039

Sat. May 05, 2007


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Business

RMG exporters now to pay only fixed terminal handling charges
Apparel manufacturers from now on will not be required to pay extra charges to shipping agents and vessel operators.

Tech transfer stressed to export processed foods to Japan
Speakers at a seminar on Thursday said Bangladesh can carve a niche in the lucrative Japanese processed food market by using Japan's technology in local agriculture sector.

World Bank, IMF face crisis of credibility
The World Bank and IMF grappled with internal upheaval Tuesday, rocked by a scandal that threatens the job of bank president Paul Wolfowitz and Venezuela's surprise decision to withdraw from both powerful

Indo-Pak trade under Safta can't be delinked from politics
Says Islamabad
Pakistan has suggested that strengthening trade relations with India under South Asian Free Trade Area (Safta) cannot be delinked from political issues and wanted New Delhi to provide a 'level-playing'

India, China border trade reopens
Asian giants India and China have reopened trade via a famed alpine Silk Road route a month earlier than scheduled in response to demands from businesses on both sides, a local official said Thursday.

SAIF Powertec launches SMS service to locate containers on port yard
SAIF Powertec Limited, a private sector operator of Chittagong Container Terminal, has launched SMS service for locating containers on the port yard, says a press release.

Tata Group still serious about investment in Bangladesh
Far from abandoning its $3 billion investment plan in Bangladesh, the Tata Group Thursday said it would pursue the steel, power and fertiliser projects after polls to elect a new government in that country.

S'pore-Norway shipyard in Vietnam wins $250m deal
A joint venture shipyard between a Singapore firm and Norway's Aker Yards said Friday it has clinched a 250 million US dollar deal to build six specialised vessels for use in the booming oil and gas industry.

US adds 88,000 jobs in April
US employers added 88,000 jobs in April, the government said Friday in a sign of weaker-than-expected economic activity. The unemployment rate ticked up a notch to 4.5 percent from 4.

Asian finance ministers to seek deeper financial ties
Asian finance ministers meet here today to try to bolster their defences against another economic crisis but one of their loftiest goals -- a common currency -- still seems decades away at least.

Chavez may nationalise banks
Venezuelan President Hugo Chavez warned he will nationalise the country's banks and largest steel producer in an apparent bid to strong-arm the businesses to contribute more to local industry.

Unilever to support school for poor children
Unilever Bangladesh Limited (UBL) and Shathi Shamaj Kalyan Samity (SSKS) signed an agreement on Thursday to continue Unilever's support to the operation of a school for underprivileged children, saysa

Canada unveils million-dollar coin
The Royal Canadian Mint unveiled the world's first 100-kilogram (220.5-pound) pure gold bullion coin Thursday, worth one million Canadian dollars (850,000 US), breaking a record for value.

Asian stocks rally back into the record books
Asian stocks rallied sharply higher Friday with investors following Wall Street's lead and pushing many regional benchmarks further into record territory.

Asean, EU agree to launch FTA
Southeast Asian states and the European Union agreed Friday to launch free trade negotiations, setting aside differences over alleged human rights violations in army-ruled Myanmar, officials said.

Weekly Currency Roundup
April 29-May 03, 2007
Local FX Market
The demand for US dollar was high throughout the week. Higher demand caused the USD to rise against the Bangladeshi taka in this week.