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Govt
offloading in Berger Paints
April
21, 2000
Dhaka,
Apr 20 (UNB)- As part of its privatization program, the government started
offloading its shares in the multinational company Berger Paints
Bangladesh Ltd to private sector.
As
majority shareholder the authorities of the Berger Paints started
purchasing the 42.33 percent government stakes in the firm at about Tk
26.74 crore.
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Railway
will receive telecom systems worth Tk 33 cr
April
21, 2000
Dhaka,
Apr 20(UNB) – Bangladesh Railway will receive telecommunication systems
worth over Tk 33 crore for the on going contract no. 1 of Jamuna
(Bangabandhu) Bridge Railway link project from ALCATEL contracting SA of
Spain against the Spanish government funding.
An
agreement to this effect was signed between Bangladesh Railway and ALCATEL
in the project office of the Jamuna Bridge Railway link project recently,
said a BR press release today.
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DSE
rises
April
21, 2000
Dhaka,
Apr 20 (UNB) – Although the losers dominated over the gainers, the
benchmark index rose slightly at the Dhaka Stock Exchange (DSE) today.
All
Share Price Index at the country’s main bourse gained 0.78 points or
0.14 percent to close at 519.28 points from Wednesday’s 518.50 points.
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CSE
falls
April
21, 2000
Chittagong,
Apr 20 (UNB) – The price index at the Chittagong Stock Exchange (CSE)
closed lower today (Thursday) as the losers outnumbered the gainers.
All
Share price index at the country’s second bourse shed 2.02 points or
0.18 percent to close at 1094.39 points from Wednesday’s 1096.41 points.
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Singapore's
total trade up 22.6 percent, latest figures show
April
21, 2000
SINGAPORE,
APR 20 (AP) - Singapore's trade with the rest of the world grew by 22.6
percent in March compared with the same month in 1999, showing that economic
growth is firmly on track, the Trade Development Board said Thursday.
Total
exports grew by 22.3 percent over the same period, a statement from the
board said.
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Entrepreneurs’
recommendations for export ignored by Govt.
April
20, 2000
Dhaka,
Apr 19 (UNB) – The government today came under fire in the Export
Promotion Council meeting where entrepreneurs alleged their recommendations
for boosting export were ignored.
In
the 32nd meeting of the Council at a local Hotel, the businessmen
also expressed dissatisfaction over delayed implementation of the government
decisions, including Prime Minister’s order, and the government machinery
for not functioning properly.
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Industrial
sector would face serious setback to India
April
20, 2000
Dhaka,
Apr 19 (UNB) – A leading chamber today cautioned the government that the
industrial sector would face a serious setback by 2005 if the country’s
products do not get free access to India.
“India
is a big market for consumer items. If we can’t enter there, no
sustainable export growth will take place,” Latifur Rahman, president of
Metropolitan Chamber of Commerce and Industry (MCCI), told a meeting of the
Export Promotion Council that was presided over by Commerce Minister Abdul
Jalil.
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Reform
program in the insurance sector
April
20, 2000
Dhaka,
Apr 19 (UNB) – As the banking sector has been under reform, the government
plans to conduct a similar program in the insurance sector that the
concerned ministers and top officials said reeling under massive
irregularities and indiscipline.
The
government’s reform plan was disclosed by Finance and Commerce Ministers
who accompanied by Foreign and Food Ministers joined the inaugural function
of a new private insurance company at a hotel here this (Wednesday) morning.
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Govt
should come up with long-term policy to build up backward linkage industries
April
20, 2000
Dhaka,
Apr 19 (UNB)- BGMEA feels that the government should come up with a
coordinated and long-term policy to build up backward linkage industries to
feed the apparel sector and help it sustain the post-2004 quota-free regime.
“We
are not getting any specific guidelines that we expect from the government
about backward linkage industries,” said Anisur Rahman Sinha, president of
Bangladesh Garment Manufacturers and Exporters Association (BGMEA), while
exchanging views with journalists at its headquarters today.
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DSE
falls
April
20, 2000
Dhaka,
Apr 19 (UNB) – Although the gainers outnumbered the losers, trading at
Dhaka Stock Exchange finished lower today.
All
Share Price Index at the country’s main bourse shed 2.35 points or 0.44
percent to close at 518.50 points from Tuesday’s 520.85 points.
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CSE
falls
April
20, 2000
Chittagong,
Apr 19 (UNB) – Downward trend at the Chittagong Stock Exchange continued
today (Wednesday) with further fall in its benchmark as the losers
outnumbered the gainers.
All
Share price index at the country’s second bourse shed 2.69 points or 0.24
percent to close at 1096.41 points from Tuesday’s 1099.10 points.
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Another
big Japanese bank merger announced
April
20, 2000
TOKYO,
APR 19 (AP) - Two more huge Japanese banks announced merger plans Wednesday,
becoming the latest mega-alliance in the increasing concentration of the
struggling financial sector here.
The
Bank of Tokyo-Mitsubishi Ltd. and Mitsubishi Trust and Banking Corp.
combination will create the world's fifth-largest financial group, '`7U
approximately 90 trillion yen (dlrs 857 billion) in assets, they said.
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Asian
markets close higher
April
20, 2000
HONG
KONG, APR 19 (AP) - Asian stock markets closed mostly higher Wednesday on
the back of Wall Street's rise - although many prices peaked out early and
failed to hold onto their biggest gains.
Tokyo's
key stock index snapped a four-day losing streak, led by technology shares
that were boosted by New York's higher prices on Tuesday.
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Mobile
operators ready to withdraw incoming call charge
April
19, 2000
Dhaka,
Apr 18 (UNB)- Mobile phone operators say they are ready to withdraw the
incoming call charge if the government imposes a time-based tariff on
calls from fixed phones to mobile phones.
They
made this proposal at meeting with the Secretary of Post and
Telecommunication Ministry here on Monday. Representatives of all mobile
phone operators except BRTA attended the meeting.
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The
country had a surplus stock of fertilizer
April
19, 2000
Dhaka,
Apr 18 (UNB) – The country had a stock of 214,459 tons of urea at the
beginning of April after meeting the demand of peak January-March period
and the surplus would increase to 369,327 tons by this month with local
produce.
“After
meeting the current month’s demand of only 76,864 tons, country will
have a stock of 292,463 tons of urea,” said a government announcement
after review of stock and supply position in the midst of the dry-season
IRRI-Boro paddy cultivation.
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ICD
causing
huge revenue loss
April
19, 2000
Dhaka,
Apr 18 (UNB) – The enhanced capacity of Dhaka’s Inland Container Depot
(ICD) is hardly being used causing huge revenue loss.
Railway
authority expanded the handling capacity of ICD to 90,000 TUEs (Twenty
Equivalent Units) per year from 25,000 TUEs at a cost of Tk 58 crore in
the wake of increasing export and import trade.
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GP's
marketing and operation
postponed in Barisal
April
19, 2000
Barisal,
Apr 18 (UNB) – Marketing and operation of Grameen Phone Ltd was
postponed here for an indefinite period on Sunday, a day after it went
into operation in the district.
The
authorities took the decision as its local dealers shut down their
showrooms as some leaders of a political party ransacked a showroom soon
after the inauguration of Grameen Phone network here Saturday.
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CSE
falls
April
19, 2000
Chittagong,
Apr 18 (UNB) – Trading at the Chittagong Stock Exchange closed lower
today (Tuesday) marking a slight fall in its benchmark as the losers
outnumbered the gainers.
All
Share price index at the country’s second bourse shed 4.51 points or
0.40 percent to close at 1099.10 points from Monday’s 1103.60 points.
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DSE
falls
April
19, 2000
Dhaka,
Apr 18 (UNB) – The price index at the Dhaka Stock Exchange closed lower
today (Tuesday) as the losers strongly dominated the gainers.
All
Share Price Index at the country’s main bourse dropped by 3.84 points or
0.73 percent to close at 520.85 points from 524.69 points on Monday.
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Most
Asian stock markets closed higher
April
19, 2000
HONG
KONG, APR 18 (AP) - Most Asian stock markets closed higher Tuesday,
boosted by a strong rebound overnight on Wall
Street.
Bucking
the trend was the Tokyo Stock Exchange, where the benchmark
225-issue Nikkei stock average closed down 39.12 points, or
0.21 percent, at 18,969.52. On Monday it tumbled almost 7 percent -
its fifth-worst fall ever - after U.S. stocks took a record plunge on
Friday.
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Billionaire
Warren Buffett gains in market drop
April
19, 2000
OMAHA,
Nebraska, APR 18 (AP) - Billionaire investor Warren Buffett
has been redeemed - at least for now.
The
chairman of Berkshire Hathaway Inc., who shuns high technology
companies because he says he cannot forecast their future,
came under criticism last year when his holding company's stock
tumbled 20 percent even as technology stocks claimed record gains.
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Bank
of Tokyo-Mitsubishi and Mitsubishi Trust near merger
April
19, 2000
TOKYO,
APR 18 (AP) - The Bank of Tokyo-Mitsubishi and Mitsubishi Trust
and Banking Corp. are likely to agree this week to merge as early as
spring 2001, Japan's top economic newspaper
reported Tuesday.
The
merger, reported in the Nihon Keizai daily, would create the world's
fifth-largest financial group, with 87 trillion yen ($ 837
billion) in deposits and other assets.
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No financial meltdown expected in Russia following U.S. market drop
April
19, 2000
MOSCOW, APR 18 (AP) - Wall Street's gyrations are
unlikely to cause a financial meltdown in Russia, officials said
Tuesday, as Russia's markets appeared to stabilize after an initial
tumble.
Russia's benchmark index sank 7.8 percent on Monday, following
last week's declines on Wall Street, but no further
slide occurred Tuesday.
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Rolls-Royce
will set up power plants in Bangladesh
April
18, 2000
Dhaka,
Apr 17 (UNB) – Rolls-Royce Power Ventures (RRPV) Ltd will set up 10-60
megawatt power plants in Bangladesh with 100 per cent foreign capital.
The
multinational power company’s business plan here was disclosed by a
high-powered delegation of RRPV when it met with Executive Chairman of
Board of Investment M Mokammel Haque today (Monday).
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UNCTAD-ICC
workshop for reliable investment guide
April
18, 2000
Dhaka,
Apr 17 (UNB) - As an UNCTAD-ICC joint workshop began here today to prepare
a reliable and authentic investment guide for Bangladesh, private sector
leaders identified corruption and bureaucracy as hurdles standing in the
way of FDI.
They
felt the other reasons that kept investors away despite Bangladesh’s
potentials and favourable policy support for investment must be detected
and remedies prescribed to attract more FDI which the country needs to
develop industries and widen exports.
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BAPA
to set up a National Dairy Board
April
18, 2000
Dhaka,
Apr 17 (UNB)- Bangladesh Agro-processing Association has proposed the
government to set up a National Dairy Board for speedy development of dairy
farms in the country.
A
delegation of the association brought the proposal to Finance Minister Shah
AMS Kibria when it called on the minister today. Association president Major
General (rtd) Amjad Khan led the delegation.
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Czech
Republic shown interest in joint-venture
April
16, 2000
Dhaka,
Apr 15 (UNB) – Czech Republic has shown interest to invest in
joint-venture projects in Bangladesh’s burgeoning gas and energy sector
in addition to setting up of fertilizer factories.
This
was indicated by the visiting Vice Minister for Industry and Trade of
Czech Republic, Jiri Maceska, when he met with
Industries Minister Tofail Ahmed at his official residence here
today.
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Construction
of BTV sub-station in Rangamati
April
16, 2000
Rangamati,
Apr 15 (UNB) – Work is in full swing on the construction of 10-kilowatt
sub-station of Bangladesh Television at the cost of Tk 13 crores.
Being
built with French assistance, the sub-station will be equipped with all
modern transmission facilities including a 120-metre high tower and
automatic control system.
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AC
chair coaches added to Dhaka-Ctg train
April
16, 2000
Dhaka,
Apr 15 (UNB) – As the program to make rail journey more comfortable goes
on, two AC chair coaches were today added to a Dhaka-Chittagong train.
Another two will join the Dhaka-Sylhet route soon.
Rail
India Technical and Economic Services (RITES) in cooperation with its
local associate Nascom Ltd has furnished the AC cars under a
build-operate-and-transfer (BOT) agreement with Bangladesh Railway.
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Weak
euro best thing for Europe's economy, analysts say
April
16, 2000
SINGAPORE,
APR 15 (AP) - The weakness of the new common European
currency has helped Europe rather than hurt it, analysts and officials
said Saturday at international conference in Singapore.
"The
behavior of the euro in its first year of existence could not
have been better," said Antonio Borges, dean of France's INSEAD
business school.
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Business News of April 1, 2000 to April 7, 2000
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Business News of April 1, 2000 to April 7, 2000
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