Business articles

Energy firms take fresh hit but most Asia markets bounce

HONG KONG,  – Energy firms once again sank in Asian trade Thursday after another plunge in oil prices as glut fears return, though most regional markets enjoyed a recovery from the previous day’s sell-off, reports BSS. Crude traders are firmly in retreat as production cuts led by OPEC and Russia fail to calm fears about […]

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US, Qatar agree F-15 fighter sale

WASHINGTON, June 15, 2017 – US Secretary of Defense Jim Mattis and his Qatari counterpart Khalid al-Attiyah signed a letter of agreement Wednesday for a $12-billion sale of US-manufactured F-15 fighters, the Pentagon said, reports AFP/BSS. The sale comes amid a simmering crisis in the Gulf after Qatar’s neighbors accused it of supporting terrorism and […]

Amu for improving inland waterways to boost economy in South Asia

DHAKA,  – Industries Minister Amir Hossain Amu today called for improving inland waterways in Bangladesh to help boost the economy of the South Asian region through easy movement of people and goods, reports BSS. “The inland waterway transport has the potentials to support regional cooperation and integration by creating a common transportation route across several […]

BUILD for changes in Alternative Investment Rules-2015

DHAKA, – Business Initiative Leading Development (BUILD) has called for simplification of repatriation policy and facilitating venture capital investment by bringing changes to the Alternative Investment Rules 2015, reports BSS. “Repatriation without approval limit should be maintained as per foreign exchange guideline,” BUILD made this observation at the 6th meeting of its Financial Sector Development […]

BUILD for changes in Alternative Investment Rules-2015

DHAKA,  – Business Initiative Leading Development (BUILD) has called for simplification of repatriation policy and facilitating venture capital investment by bringing changes to the Alternative Investment Rules 2015, reports BSS. “Repatriation without approval limit should be maintained as per foreign exchange guideline,” BUILD made this observation at the 6th meeting of its Financial Sector Development […]

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BGMEA demands removal of tax at source for 2 yrs

DHAKA, June 4, 2017 – Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today demanded full withdrawal of tax at source for two years, reports BSS. The trade body of country’s apparel sector made the demand at a post-budget press conference at its office, as 1 percent tax has been imposed at source for the readymade […]

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Chinese premier’s visit to push forward China-Germany economic, trade cooperation : Interview

BERLIN, June 4, 2017 – Chinese Premier Li Keqiang’s visit to Germany will push forward bilateral economic and trade cooperation, said commercial counselor of the Chinese Embassy in Germany, reports BSS/Xinhua. “Economic and trade cooperation has always been the ballast of China-Germany relations. Premier Li’s visit to Germany has made fruitful achievements in the economic and […]

Stocks close post-budget session mixed

DHAKA, June 04, 2017 – Stocks closed the post budget session mixed in green today when investors were analyzing the possible impact of the proposed budget and the fiscal policy on the country’s capital market, reports BSS. Finance Minister AMA Muhith on Thursday unveiled the national budget for the 2017-18 financial year (FY18) at the […]

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AirAsia announces discounted ticket sale

Mumbai, Jun 4, 2017 – Malaysian budget airlines group, AirAsia on Saturday announced discounted fares, starting as low as Rs 1,099 for domestic destinations operated by its Indian joint venture carrier and Rs 2,999 for international flights operated by other group airlines under a limited period offer, reports BSS/PTI. Travellers can enjoy fares from as […]

Jeep hits pothole even as Fiat counts on expanding sales

DETROIT, June 4, 2017 – The iconic Jeep brand is the cornerstone of Fiat Chrysler’s strategy to bolster its position in the global auto industry, but the brand’s US sales have hit a pothole, reports BSS/AFP. FCA chief Sergio Marchionne has mused about spinning off the Jeep just as he spun off Ferrari to raise […]

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Rajshahi’s mango to be exported to six European countries

RAJSHAHI, – Mangoes produced in Bagha Upazila areas nationwide famous for the delicious seasonal fruit are going to be exported to six European countries like England, Sweden, France, Norway, Portugal and Russia this year, reports BSS. The venture has been started since last year. Hortex Foundation and Department of Upazila Agriculture Extension jointly launched the […]

Muhith outlines plans for capital market development

DHAKA,  – Finance Minister AMA Muhith today outlined several plans to develop the country’s capital market While unveiling the national budget for 2017-18 financial year (FY18) in parliament, he highlighted the government’s initiatives to strengthen the country’s capital market. “A plan has been taken to establish a separate clearing and settlement company as part of […]

Remittance inflow picking up again

DHAKA,  – Inflow of remittances that witnessed a sluggish trend in recent months is picking up again as expatriates sent home US$807.77 million in the first 19 days of May, which is $115.76 million up from the same period of the previous month, according to Bangladesh Bank (BB) data, reports BSS. The country received $692 […]

Oil prices rally after heavy sell-off

NEW YORK, – Oil prices rebounded Friday from previous day’s rout, as traders shrugged off their disappointment over the Organization of the Petroleum Exporting Countries'(OPEC) output agreement, reports BSS. Oil prices settled sharply lower Thursday, with both U.S. oil and Brent crude tumbling nearly 5 percent, as investors were disappointed about the OPEC’s decision to […]

Rajshahi sets target to export 100 tonnes mango

RAJSHAHI, – Around 100 tonnes of mango are likely to be exported from Rajshahi to the markets in China and Europe this year creating high hope among farmers, traders and others concerned, reports BSS. Deb Dulal Dhali, Deputy Director of Department of Agriculture Extension (DAE), here said the mangoes were produced through adopting fruit bagging […]

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IPDC Finance Ltd becomes the first Bangladeshi institute to win the ADFIAP Award 2017

IPDC Finance Ltd, the first financial institution of Bangladesh established in 1981, has been awarded in the “Corporate Social Responsibility” category under “Outstanding Development Project Awards” at the ADFIAP Award 2017. IPDC Finance Limited becomes the only institution from Bangladesh to win this prestigious award and mark its proud footprint globally. The ADFIAP “Outstanding Development […]

Tencent net profits up 58% in Q1 to beat estimates

HONG KONG : Chinese technology giant Tencent on Wednesday reported first quarter results which exceeded expectations, helped by robust revenues from its hit mobile games, reports BSS. Its overall revenue jumped 55 percent to 49.55 billion yuan year-on-year, while net profit was up 58 percent at 14.48 billion yuan. Analysts polled by Bloomberg News expected […]

GDP of APEC economies forecast to expand 3.8 percent in 2017-2018

HANOI : The gross domestic product (GDP) of the Asia-Pacific Economic Cooperation (APEC) economies is forecast to expand 3.8 percent in the 2017-2018 period, higher than global growth, reports BSS. The forecast was released in the latest APEC Regional Trends Analysis themed “Globalization: The Good, The Bad, and the Role of Policy” launched by APEC […]

Tusk says EU wants safeguards against trade dumping by UK

STRASBOURG : Any trade deal linking the EU and Britain after Brexit will require guarantees against “unfair competition” by the UK, EU Council President Donald Tusk said on Wednesday, reports BSS. With tensions high as next month’s Brexit talks approach, Britain has said it will fight back if the EU will not strike an acceptable […]

Iceland’s central bank cuts rates to tame currency

REYKJAVIK : Iceland on Wednesday announced a quarter-point cut in interest rates to curb the growing strength of its national currency, buoyed by booming tourism, and to stimulate inflation, reports BSS. The Central Bank of Iceland said interest rates would be lowered to 4.75 percent as it faces the dilemma of a strong economic growth […]

Thousands demonstrate in Greece in general strike over new cuts

ATHENS : Thousands of Greeks demonstrated on Wednesday against a new round of austerity cuts in a 24-hour general strike that disrupted travel and shut down public services, reports BSS. Around 12,000 people took part in separate protests in Athens and another 6,000 in Thessaloniki according to police, a day before the measures are to […]

Britain’s state-rescued Lloyds bank back in private hands

LONDON : British bank Lloyds, bailed-out by the UK government at the height of the financial crisis, said Wednesday that it had returned to full private ownership, reports BSS. “Lloyds Banking Group has… notified the market that the government’s stake in the group has been reduced to zero; as such, the group has returned to […]

UK unemployment dips to lowest rate since 1975

LONDON : Britain’s unemployment rate has dipped to 4.6 percent, the lowest level for 42 years, official data showed on Wednesday, three weeks before a general election, reports BSS. However wage growth has been weak, dampening expectations for a rise in the Bank of England’s main interest rate any time soon. The unemployment rate fell […]

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Walton refrigerators get 5-Star rating on energy efficiency

Some frost and non-frost refrigerators of the country’s leading electronics brand ‘Walton’ received ‘Five Star Energy Rating’ from Bangladesh Standards and Testing Institute (BSTI) in last month (April 2017). The huge power saving Walton refrigerators secured the BSTI’s highest energy rating certificate for maintaining the ‘Bangladesh Standards 1850:2012.’ It was learnt that only Walton fridges […]

Nigerian economy glimpses dim light at end of tunnel

LAGOS :Suffering from rampant inflation, stalled investment and mass layoffs, Nigeria is still gripped by one of the worst economic crises in its history, reports BSS. But for the first time in months, the West African economic giant is finally looking to exit its first recession in decades. On Thursday, parliament approved the government’s ambitious […]

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