The Daily Star: Internet Edition Tue. July 17, 2007

Vol. 5 Num 1112

Tue. July 17, 2007


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Business

Bepza Activities-I
Steps taken to check misuse of bonded warehouse products
New moves to help earn Tk 50cr revenue a year
The Bangladesh Export Processing Zones Authority (Bepza) has taken a number of restrictive measures so that the duty-free bonded warehouse products cannot be illegally channeled to local market from export

Tight monetary policy to hurt economy: FBCCI
The tight monetary policy will cast a negative impact on the country's economy, the country's apex trade body said yesterday.

Outsourcing Business
India faces threat from China
India remains the world's top outsourcing hub but is facing increasing threat from rival China due to India's high attrition rate, poor infrastructure and rising wages, a global research group said.

India among largest job creators in UK
Indian investment in Britain during 2006-07 created 5,130 jobs -- the second largest number of new jobs created after the USA, whose companies created 13,326 jobs during the year, figures with the department

Oil prices above $74
Refinery problems to affect market next year, fears Opec
Oil prices rose Monday amid concerns over production in the North Sea. Opec also said it feared refinery problems may affect the market next year. August Brent rose 9 cents to $77.

Bajaj Auto eyes buying European plants
Bajaj Auto, India's second largest motorcycle manufacturer, is looking at forging a partnership with or buying Italy's Ducati or Britain's Triumph, both iconic marques, a report said Monday.

Warid Telecom introduces economy ISD facility
Warid Telecom has introduced economy ISD facility allowing subscribers to make international calls at lower rates, says s press release.

China blames US media for fanning food fears
China's top quality control official accused foreign media of raising unnecessary alarm about the safety of the country's food and drug exports, complaining in particular about U.S. reports. >TheU.S.

Profit up 36pc at India's Tata Consultancy Services
India's largest software exporter Tata Consultancy Services said Monday that its first quarter net profit rose by 36 percent despite sharp gains in the rupee this year that hit earnings.

StanChart faces heavy taxes in S Korea
South Korean tax authorities have sent bills totalling tens of millions of dollars to a US and a British financial group over the sale of a local bank, a newspaper said Monday.

NZ keen to resume FTA talks with Malaysia
New Zealand Prime Minister Helen Clark on Monday said her government is eager to resume free-trade talks with Malaysia and sees the services sector as a central component of an agreement.

Euro nears 1.38 dollars; pound hits new 26-yr peak
The euro neared a record dollar high on Monday, while the British pound struck the highest level since 1981 against the struggling greenback amid ongoing concerns over the US economy, dealers said.

US criticises Turkey-Iran gas deal
The United States on Monday spoke out against a preliminary agreement between Turkey and its eastern neighbour Iran to carry natural gas from Iran and Turkmenistan to Europe, the Anatolia news agencyreported.

Yuan hits new high against US dollar
China's currency, the yuan, hit a new high against the US dollar on Monday, according to the Chinese Foreign Exchange Trading System.

Currency