Apartment in Tk. 4 lakh

April 14, 2000

Dhaka, Apr 13 (UNB)- A standard size unit of 650 sq ft apartment comprising two bedrooms will be available at a price of around Tk 4 lakh.

This was announced by the chairman of Nitol National Builders (NNB)– a joint venture company between Nitol Group of Companies and the Associated City planners of Singapore today.

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Chinese exports surge 39 percent

April 14, 2000

BEIJING, APR 13 (AP) - In their biggest surge in five years, China's exports grew 39.1 percent in the first quarter of the year to dlrs 52 billion, according to preliminary figures reported by state media Thursday.

Imports also grew, but the export boom drove China's trade surplus up 22 percent in the first three months to dlrs 5.22 billion, newspapers reported, citing government trade figures.

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Most Asian markets fall on Nasdaq drop

April 14, 2000

HONG KONG, APR 13 (AP) - Most Asian markets tumbled Thursday as investors sold technology issues following a steep plunge by the U.S. Nasdaq composite index.

In Tokyo, the benchmark 225-issue Nikkei Stock Average fell 306.79 points, or 1.5 percent, to finish at 20,526.42. On Wednesday, the average closed up 310.69 points, or 1.5 percent.

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Bank of Japan says economy showing more improvement

April 13, 2000

TOKYO, APR 12 (AP) - Improvements in Japan's economy are becoming increasingly visible, the Bank of Japan said in its monthly report released Wednesday.

"Recovery has started in some areas of private demand, as seen in a gradual upturn in business fixed investment," the central bank said.

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ADB to again raise growth forecasts for Asia

April 13, 2000

MANILA, APR 12 (AP) - The Asian Development Bank (ADB) will raise its economic growth forecasts for Asia once again because the region is recovering more rapidly than expected from its financial crisis, its president said.

The Manila-based bank plans to announce later this month that it expects developing countries in Asia will grow by an average of more than 6 percent this year, President Tadao Chino said. The ADB originally forecast 5.1 percent growth this year for the region, excluding Japan, and raised that to 5.7 percent last November.

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Hong Kong share prices edge higher

April 13, 2000

HONG KONG, APR 12 (AP) - Share prices on the Hong Kong Stock Exchange closed higher Wednesday, following news of a deal between local Internet company Pacific Century CyberWorks and Australia's Telstra Corp.

The blue-chip Hang Seng Index rose 89.43 points, or 0.5 percent, to close at 16,577.09. On Tuesday, the index had fallen 363.08 points, or 2.2 percent.

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ADB sees possible role for Asian monetary fund

April 13, 2000

MANILA, APR 12 (AP) - The president of the Asian Development Bank (ADB) says there may be a role for a new Asian monetary fund to help countries hit by financial problems, but the International Monetary Fund should continue to take the lead in responding to future crises.

The issue is a highly sensitive one for the Manila-based development bank, whose major shareholders are Japan, which is sympathetic to the proposed Asian fund, and the United States, which opposes any moves that could undermine the influence of the IMF or weaken the resolve of Asian countries to pursue the often-tough reforms advocated by the IMF.

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Grameen Phone in Barishal

April 12, 2000

Dhaka, Apr 11 (UNB) - Grameen Phone Limited will launch its mobile phone service in Barisal on Saturday to provide more effective service to its valued subscribers.

President Justice Shahabuddin Ahmed will launch the service by making the first phone call from Bangabhaban.

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New body of ICC Bangladesh

April 12, 2000

Dhaka, Apr 11 (UNB) – Bangladesh National Committee of the Paris-based International Chamber of Commerce (ICC), the world business organization, has elected a new 17-member executive board for a two-year term.

Mahbubur Rahman has been unanimously reelected as the President while Latifur Rahman and ASM Quasem have been elected Vice-presidents for the year 2000-2002, said a press release of ICC Bangladesh today (Tuesday).

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MOU signed between Proshika and BSF

April 12, 2000

Dhaka, Apr 11 (UNB) – A memorandum of understanding (MOU) was signed between Proshika and Bangladesh Silk Foundation (BSF) here on Monday for supporting sericulture activities.

Under the MOU, Proshika will provide technical and financial assistance to the Silk Foundation in implementing its five-year Silk Development Project (SDP), said a press release.  

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Foreign direct investment in China rebounds, industrial output rises

April 12, 2000

BEIJING, APR 11 (AP) - Reversing a steady decline that has slowed economic growth, China's actually used foreign direct investment grew 10.3 percent in March, a senior trade official said Tuesday.

Ma Xiuhong, assistant minister for Foreign Trade and Economic Cooperation, didn't provide a nominal figure for March, but she told a news conference that the one-month rise brought first quarter actual foreign direct investment to dlrs 7.14 billion, a 2.7 percent decline from the same period last year.

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Most Asian stock markets close lower

April 12, 2000

HONG KONG, APR 11 (AP) - Most Asian stock markets closed lower Tuesday on the back of an overnight tumble in U.S. technology stocks.

In Hong Hong, the blue-chip Hang Seng Index fell 363.08 points, or 2.2 percent, to close at 16,487.66. On Monday, the index had lost 90.94 points, or 0.5 percent.

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Don't strangle markets with regulation, NYSE chief says

April 12, 2000

SINGAPORE, APR 11 (AP) - Financial market regulations should focus on disclosure rather than trying to control market levels, New York Stock Exchange chief Richard Grasso said Tuesday.

Market regulators must make certain that "regulation is never confused with strangulation," Grasso said at a law conference in Singapore.

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Swedish grant for Bangladesh

April 11, 2000

Dhaka, Apr 10 (UNB) – Bangladesh will receive Tk 7 crore in Swedish grants under an additional agreement on Personnel and Consultancy Fund signed here today.

Joint Chief of Economic Relations Division AKM Khairul Alam and Swedish Ambassador Anders Johnson signed the accord at the ERD on behalf of the respective side.

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U.S. group claims Philippine copyright piracy worsening

April 11, 2000

MANILA, APR 10 (AP) - A coalition of seven trade associations representing U.S. copyright-based industries has petitioned the U.S government to put the Philippines back on the list of the world's worst violators of intellectual property rights because of the proliferation of bootlegged video compact discs and CD-ROMs.

The Philippines was removed from the category three years ago after the passage of the country's Intellectual Priority Rights Code of 1997, which imposed hefty fines and imprisonment on transgressors.

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Dollar climbs in Japan market

April 11, 2000

TOKYO, APR 10 (AP) - The U.S. dollar climbed against the yen Monday morning after data showed that downward pressure on Japanese domestic prices remains a problem. Tokyo stocks rose.

The dollar bought 106.08 yen in late morning trading, up 1.11 yen from late Friday in Tokyo and also above its late New York level of 105.38 yen on Friday.

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China's trade with Taiwan booms amid tensions

April 10, 2000

BEIJING, APR 9 (AP) - China's trade with Taiwan grew 14.5 percent last year, state media said Sunday in a report that highlighted growing economic ties despite mounting political tensions.

Trade totaled $ 23.5 billion, the Business Weekly newspaper said, citing customs figures.

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BB auction on Treasury Bills

April 10, 2000

Dhaka, Apr 9 (UNB) – The 83rd auction of the 28-day, 91-day, 182-day, 364-day, 2-year and 5-year Treasury Bills was held here today.

Tk 893.50 crore, Tk 1.00 crore, Tk 224.50 crore, Tk 106.00 crore and Tk 104.00 crore were offered respectively for the 28-day, 91-day, 182-day, 364-day and 2-year bills.

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Prime-line introduces by Prime Bank

April 9, 2000

Dhaka, Apr 8 (UNB) – In a bid to expand client services, Prime Bank Limited is the first among the local commercial banks to introduce online banking service in the country.

The pioneer of the information technology-based banking in Bangladesh today (Saturday) introduced the service “Prime Line” for its clients.

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