The Daily Star: Internet Edition Thu. July 05, 2007

Vol. 5 Num 1100

Thu. July 05, 2007


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Business

Special economic zone soon for organised industrialisation
Says industries adviser
The government is mulling to set up a special economic zone (SEZ) shortly in order to give the growing unplanned industrialisation into an organised shape.

Remittances stand close to $6b in FY07
Clock 24.61pc growth
Bangladesh received close to US$ 6 billion remittances in the just concluded fiscal year, thanks to increased manpower export.

Bangladesh RMG to face tough time as curb on China to expire in 2008
Says IMF
Bangladesh will face much greater competition in its two largest garment export markets -- USA and EU -- in the near future as the safeguard restrictions on China are due to expire in 2008.

Dhaka seeks WTO help for RMG access to rich states
Dhaka sought WTO support to secure full market access of Bangladesh's readymade garments to developed countries' markets, which is 'crucial' for the country's economy.

China's economy to grow 10.9pc in 2007
Growth in China's roaring economy is expected to continue apace this year, rising 10.9 percent, a government think tank report said Wednesday, urging further economic cooling measures.

Japanese cut investments in Thailand
Japanese firms in Thailand are beginning to reduce their investments in the kingdom due to the strong baht and negative perceptions about the investment climate, a survey said Wednesday.

UN business summit aims to make firms more responsible
United Nations Secretary General Ban Ki-moon will open one of the world body's biggest meetings with business leaders today to try to sharpen global standards for corporate behaviour.

Proper steps suggested to tap $170b IT outsourcing business
If proper steps are taken, Bangladesh can earn a huge foreign exchange utilising the golden opportunity from the booming international IT outsourcing business, a seminar in Dhaka made this observation

146 customs points closed down
The National Board of Revenue (NBR) has formally closed down operations of 146 customs points with effect from July 1 for being inactive for a long time. NBR issued a gazette on June 27 to this effect.

Korean RMG accessories plant in Karnaphuli EPZ soon
Korean company M/s Kosh Industrial (BD) Limited is going to set up a garments accessories manufacturing industry in the Karnaphuli Export Processing Zone with an investment of US$ 8 million.

Prime Bank, DBBL sign deal for sharing ATM, POS network
Clients of Prime Bank Ltd will be able to use the ATMs (automated teller machines) and POS (point of sale) of Dutch-Bangla Bank Ltd (DBBL).

Danone in talks to sell biscuit unit to rival
French group Danone, whose LU cookies have accompanied the snacks of generations of French children, said Tuesday it was in exclusive talks with US rival Kraft Foods about the sale of its biscuit unit

Currency