Wednesday Business News 2

Eid
Afghan tailors race against the clock
Afp, Kabul
Mobin Frough's eyes are red and bleary.

 
BSTI resumes special drive against adulteration
Unb, Dhaka
Bangladesh Standard and Testing Institution (BSTI) is set to kick off a special drive across the country to check the sales of adulterated food and other commodities that caused serious public health concern.

 
Citigroup to take over Wachovia banking assets
Afp, Washington
Citigroup yesterday agreed to a takeover of Wachovia Bank in a deal backed by regulators and which gives the government a stake in one of the nation's biggest banks.

 
Asian stocks tumble despite US bailout deal
Afp, Hong Kong
Asian stocks tumbled Monday despite a deal being reached in Washington on a massive bailout plan for the US finance market and as the global credit crisis spread to Europe.

 
India's SMEs to contribute to GDP's 22pc
Ann/The Statesman
With the improvement in technology, India's small and medium enterprises' contribution to the GDP of the country is likely to go up by at least 5 per cent and touch 22 per cent by 2012, a study by the Associated Chambers of Commerce and Industry (Assocham) has said.

 
$540m ejected from Pak market in only 3 months
Ann/The Nation
Foreign investors have ejected US$540 million from the Pakistani stock market in only three months from July to September amid prolonged political uncertainty, burgeoning insecurity in the tribal belt of the country coupled with global and local economic slowdown.

 
Oil prices slide on demand fears
Afp, London
Oil prices sank on Monday amid persistent worries about long-term global energy demand, as traders feared that the tentative US bailout deal would fail to boost slowing global economic growth.

 
Dollar jumps against euro before US bailout vote
Afp, London
The dollar shot up against the euro and also rose versus the yen on Monday as US lawmakers prepared to vote on whether to rubber-stamp a 700-billion-dollar bailout of stricken Wall Street banks.