The Daily Star: Internet Edition Wed. May 16, 2007

Vol. 5 Num 1050

Wed. May 16, 2007


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Business

ACU mulls multi-currency settlement options
Eight-member organisation's board meet begins in Dhaka
Members of eight-nation Asian Clearing Union (ACU) mull introducing multi-currency settlement options in the organisation's transactions.

Adopt cautious policy to face inflationary pressures
ADB advises central bank
The Asian Development Bank (ADB) yesterday advised the central bank to adopt a cautious monetary policy and control budgetary borrowing with a more flexible exchange rates management to mitigate inflationary

Four firms get SEC nod to float IPOs
DSE market capitalisation hits all time high at $6b
One bank and three non-banking financial institutions got go-ahead from the Securities and Exchange Commission (SEC) yesterday to raise a total of Tk102.

China hopes talks may ease trade friction with US
China said Tuesday it hopes next week's high-level trade talks with the US can help smooth out frictions between the two economic giants.

SoE buyers to get now 20pc rebate on full payment
From now on, buyers of the state-owned enterprises (SoEs) will get 20 percent rebate instead of previous 35 percent in case of full payment at a time to the government.

Bangladesh to take part in 'Asia on Show' in Sydney
Bangladesh is going to take part in the 'Asia on Show', one of the largest exhibitions in Sydney, beginning at Sydney Exhibition Centre, Darling Harbour on May 17.

Etihad Airways opens new office
Etihad Airways Bangladesh opened its new office at Gulshan in Dhaka yesterday. Khalfan Battal Ali Al-Mansouri, the UAE Ambassador to Bangladesh, inaugurated the office, says a press release.

Thomson buys Reuters for 8.7b pounds
British financial information group Reuters agreed to be bought by Canadian group Thomson Corp. for 8.7 billion pounds on Tuesday in deal creating the biggest global force in the sector.

US opposition mounts over policy on textiles from Vietnam
Opposition is growing in the US over the import monitoring programme imposed on Vietnamese textiles as lawmakers and senior executives urge greater restraint.

Japan's economy seen growing at slower pace
The Japanese economy likely grew in the first three months of this year but at a slower pace as households and companies find their wallets cannot sustain recent heady expansion, analysts say.

Al-Arafah Islami Bank okays 35pc stock dividend
Al-Arafah Islami Bank Ltd has declared a 35 percent stock dividend for the year 2006.

Unilever opens Vietnam's largest centre
Consumer goods giant Unilever has opened Vietnam's largest distribution centre, a 10-hectare (25 acre) site that will service the booming country and 18 other nations, the company said Tuesday.

Currency