The Daily Star: Internet Edition Sun. June 17, 2007

Vol. 5 Num 1082

Sun. June 17, 2007


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Business

Newly corporatised banks don't need bureaucrats
Says BB governor
In the wake of government's move to vest some bureaucrats with responsibilities of the newly corporatised banks, central bank governor could not help expressing his worry saying that the officials who

Lift supplementary duty on used microbus
Importers urge govt
Importers and dealers of reconditioned vehicles yesterday urged the government to withdraw supplementary duty on reconditioned microbus proposed in the budget for fiscal year 2007-08.

WB heir-apparent faces tough task of restoring trust
Robert Zoellick, the presumed next head of the World Bank, will shoulder the task of rebuilding trust in the development lender after a scandal at the top exposed deep divisions.

Oil prices jump to $71
World oil prices edged higher Friday, after strong gains earlier this week, as the market focused on low US gasoline reserves during a high demand season.

China top business destination of ROK
More than 700,000 South Korean people are running some 30,000 companies across China, making it the top destination for investment from the Republic of Korea, according to a recent business forum.

China pledges to free slave labourers
China has pledged to rescue hundreds of people forced to work as slaves in appalling conditions, launching a national probe to find those responsible, state media said Saturday.

US tightens high-tech export controls for China
The United States late Friday slapped new restrictions on high-technology exports to China and moved to create a pool of so-called "trusted customers" within the Chinese business community who will be

China, US to step up anti-piracy work
China has promised to pursue product pirates identified by US authorities in a new effort to stamp out its thriving counterfeit industry, the head of the US customs agency said Friday.

India, Russia allow free use of airspace to their airlines
India and Russia have signed an agreement to allow each other's designated airlines to fly in their respective territories without any restriction, barely weeks after resolving a recent tiff over theuse

Philippine overseas workers send $1.2b home in March
Philippine overseas workers sent 1.2 billion dollars home in April, up 32.6 percent over the same period last year, the central bank said Friday.

Billion-dollar upgrade for Delhi rail hub
India Friday approved a 1.2-billion-dollar modernisation plan for New Delhi's main railway station, which transports some 300,000 passengers a day, a report said.

iPhones now available at selected US stores
Customers clamoring to get their hands on Apple Inc.'s highly anticipated iPhone better make sure they're at the right store.

US sticks to opposition to Iran-Pak-India gas pipeline
The US Friday said that it is skeptical about the proposed USD seven-billion Iran-Pakistan-India (IPI) gas pipeline project pointing out it has already made clear the "consequences" for any country which

Sino-Russian trade to hit $40b
The Sino-Russian trade volume is expected to exceed $40 billion this year, State Councilor Tang Jiaxuan said on Friday.

New MD of Chevron Bangladesh
Steve Wilson has been appointed managing director of Chevron Bangladesh effective from yesterday, says a press release.

Citigroup South Asia head due today
Sanjay Nayar, area head of Citigroup South Asia and chief executive officer of Citigroup India, is expected to arrive in Dhaka today on a two-day visit, says a press release.

New chief of specialised textile mills assoc
Liakat Ali Bhuiyan has been nominated president of Bangladesh Specialised Textile Mills & Powerloom Industries Association (BSTMPIA) due to the demise of the association's president Mohammad ShahjadaMia.

Indian real-estate firm raises $2.24b in IPO
India's top real-estate firm DLF raised 2.24 billion dollars in the country's largest initial public offering, which closed Friday, a banker involved in the sale said.

Rate hike not imminent
Says BoJ chief
The Bank of Japan decided Friday to keep a benchmark interest rate unchanged at 0.

Myanmar dragging its feet on forced labour: ILO
The International Labour Organisation on Friday warned that forced labour was still widespread in Myanmar, where the military junta has so far ignored ILO recommendations to stop the practice.