The Daily Star: Internet Edition Sat. June 04, 2005

Vol. 5 Num 362

Sat. June 04, 2005


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Business

BB asks NCBs to recover Tk 992cr bad loan by Dec
Bangladesh Bank has set a target of recovering Tk 992 crore default loans for the four nationalised commercial banks (NCBs), including Tk 232 crore from their top 20 defaulters by December this year.

Bourse fortune hangs on budgetary incentives
Flat market likely to continue until budget
Shares at the Dhaka Stock Exchange (DSE) have been moving flat for last one week or more in absence of "economic impetus" with the investors waiting for incentives in the coming budget.

Consumers, grocers stock up essentials fearing price-hike
Already under pressure from rising prices, city dwellers, especially the middle and lower middle class, have started to stock essential items fearing another price-hike after the next budget.

India begins anti-dumping probe into China silk import
India has begun anti-dumping probe into import of silk from China but exporters fear the move might mar the prospects of value added silk exports from India.

DHL Bangladesh holds mid-year meeting of Operations Dept
DHL Express Bangladesh held its mid-year meeting of the Operations Department recently in Tangail with the theme 'Go beyond stops and be dominant in the competitive market'.

Square launches cook contest
Shera Radhuni to get 20 bhori of gold
In a bid to popularise traditional regional food and encourage creativity in culinary, Square Consumer Products Ltd has recently launched a nationwide cook competition.

Pubali Bank inks loan recovery deal
Pubali Bank Ltd has signed an agreement with Multi Promotional Services Ltd for recovery of classified loan.

Prime Bank, Commercial Bank of Ceylon sign accord
Prime Bank Ltd and Commercial Bank of Ceylon Ltd (CBCL) have signed a correspondent banking agreement regarding collection and disbursement of cash and cheques on Monday in Dhaka.

Apec agrees on ‘Swiss formula’ to cut tariffs
Trade ministers from 21 Asia-Pacific nations agreed here on Friday to a formula that would be used to cut tariffs on non-agricultural products, organizers said.

Britain challenges G8 on total debt write-off
Britain threw down a challenge to its Group of Eight partners Friday, proposing 100-percent debt relief to pay for free education for millions of children in the world's poorest countries.

China links US textile curbs with farm trade
A top Chinese official questioned Thursday why Beijing should honour commitments to open its market to more foreign farm goods if the United States and Europe are slamming their doors to Chinese clothing

4 nations sign trans-Pacific trade pact
New Zealand, Brunei, Chile and Singapore announced a trans-Pacific free trade pact Friday to improve market access between the countries.

Weekly Currency Roundup
May 28-June 02, 2005
Local FX Market
US dollar was mostly steady against Bangladeshi taka. Demand for US dollar remained high.