The Daily Star: Internet Edition Sun. May 27, 2007

Vol. 5 Num 1061

Sun. May 27, 2007


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Business

Budget Proposals
CPD for discontinuation of money whitening provisions
Suggests rural employment guarantee scheme in Monga-hit areas
Independent think tank Centre for Policy Dialogue (CPD) has recommended discontinuation of all direct and indirect provisions for whitening black money in the budget for the year 2007-08.

Bilateral disputes should not hinder Safta implementation: Adviser
Establishment of economic union proposed
Bilateral discrepancies among the Saarc member countries should not be entered into Safta process as such two-sided disputes sometimes stands as bottlenecks of implementing the regional pact, said Finance

Saarc chamber moves to remove non-tariff barriers
Says chamber president
The Saarc chamber has taken initiatives to remove non-tariff barriers that stand in the way of increased trade in South Asian region, says president of the chamber.

CPD's diagnostic study on price of daily essentials: Recommendations
The recommendations to control the prices of essentials are extracted from the study titled 'Price of Daily Essentials: A Diagnostic Study of Recent Trends', which was conducted by the CPD (Centre for Policy Dialogue) for the Ministry of Commerce, Government of Bangladesh
Part II
A. Overarching Issues
(continued) (i) Reduce Transportation Cost.

Tata Tea sells 30pc stake in Glaceau
So far the overseas acquisitions by Indian companies have been hitting the headlines. Now, it is the sale.

US files WTO complaint against India over alcohol duties
The United States filed a complaint Friday at the World Trade Organization against India, saying its duties on alcoholic beverages and other imports violate global trade rules.

WTO starts membership talks with Iraq
Ambassadors to the World Trade Organization (WTO) Friday held their first meeting on Iraq's membership application to the 150-member trade body.

Dollar falls back on weak US housing data
The dollar weakened Friday after data that was released on existing home sales in the United States undershot market expectations, fueling fears about the extent of an economic slowdown there.

Japan's consumer prices keep falling
Japan said Friday its consumer prices fell for a third straight month in April, although at a slower pace than before, as the world's second-largest economy struggles with stubborn deflationary pressures.

Oil prices higher on US gasoline concerns, Iran
World oil prices firmed Friday in New York as traders looked once again at tight US motor fuel reserves a day ahead of the start of the peak-demand US driving season, analysts said.

Indian shares set to hit record highs as inflation dips
Indian share prices are well placed to hit record highs next week, with sentiment improving after inflation fell for a fourth week in a row, dealers said.

Vietnam's trade deficit at $3.3b
Vietnam's trade deficit has reached 3.26 billion dollars so far this year as the country spent heavily on imports of equipment, steel and oil products, preliminary statistics showed Friday.

Central Ins okays 10pc cash, 10pc stock dividends
Central Insurance Company Ltd has approved a 10 percent cash dividend and a 10 percent stock dividend for the year 2006.

IPDC approves 10pc cash, 5pc stock dividends
Industrial Promotion and Development Company (IPDC) of Bangladesh Ltd has approved a 10 percent cash dividend and a 5 percent stock dividend.