Indian RPG Group’s tyre-making arm Ceat Friday announced formation of a joint venture company with the Bangladesh-based AK Khan & Company to set up a manufacturing facility in the neighbouring country. The facility, which will come up at the investment…
Category: Finance
Microsoft profit dips
Microsoft Corp’s quarterly profit edged lower as Office software sales slowed ahead of a new launch, offsetting a solid but unspectacular start for its Windows 8 operating system and sending the company’s shares down 1.4 percent.The results mark a stark…
Emirates acquires 3 new Boeing 777F
SkyCargo, the freight division of Emirates, one of the world’s fastest growing international airlines, has significantly boosted its total cargo capacity and expanded its dedicated freighter network with the addition of three new Boeing 777F aircraft. The three new freighters,…
Gazipur RMG fire injures 40
At least 40 people were injured in a fire at a readymade garment factory in Konabari under Sadar upazila of the district on Wednesday morning. The fire originated at about 10:45am at the 7th and 8th and floors and soon…
Capital market stabilising: Muhith
Finance Minister Abul Maal Abdul Muhith has claimed the instability at the capital market has somewhat decreased in the recent times, and will lessen further following demutualisation of the two bourses. He was speaking at the inauguration ceremony of the…
Thai fisheries seek Bangladesh workers
The Bangkok Post quoted National Fisheries Association of Thailand President Phubet Chanthanimi as saying that they hoped to bring in about 50,000 workers from Bangladesh through a government-to-government deal. He warned that the labour shortage could bring the whole industry…
Dreamliner crisis: Boeing halts 787 jet delivery
Boeing has suspended deliveries of its new 787 Dreamliner aircraft until a battery problem is resolved. An email from the US aerospace giant said it would continue to build the plane, but not deliver any until US safety officials gave…
Chevron product vessel probe
Chittagong Port Authority has formed a five-member panel to investigate into the unloading of a lightering vessel, laden with Chevron products, at the port without clearance. The port’s sub-keeper Captain Nazmul Haque has been made head of the panel. The…
Zaheer new WB acting country director
Salman Zaheer, cooperation director of the World Bank`s (WB) South Asian Region, has been made new acting country director to Bangladesh. The disclosure came from a WB press release on Saturday. Zaheer, an India citizen, will take up his new…
BB steps to stop money laundering: Deals inked with 13 countries
Bangladesh Bank (BB) singed bilateral deal with 13 countries to stop money laundering, terrorists financing and to take back the laundered money. A source in BB said that BB inked the deals with the countries in different times in last…
JICA to disburse Tk 450 cr SME credits
Staff Reporter Japan International Cooperation Agency (JICA) on Sunday said that it would disburse an amount of Tk 450 crore its under Financial Sector Project for the Development of SME (FSPDSME) among local level entrepreneurs of Bangladesh. The JICA announcement…
Goldstein ‘optimistic of WB financing’
Jan 8: The World Bank’s Bangladesh Country Director said on Tuesday she remains ‘optimistic’ about the global lender financing the Padma bridge project.
Directors’ recruitment in state-run banks: Process not transparent: CPD
Distinguished Fellow of Center for Policy Dialogue (CPD) economist Debapriya Bhattacharya termed the process of directors’ appointment to state-run banks ‘not transparent’. “The director-recruitment is not transparent, rather they are being recruited basically upon political decision, he added. Debapriya Bhattacharya…
Global malaria battle stalls for fund crunch
Reuters via Yahoo Health Global funding for the fight against malaria has stalled in the past two years, threatening to reverse what the World Health Organisation (WHO) says are “remarkable recent gains” in the battle to control one of the…
Bridge fund on fair probe: WB, Muhith surprised
Agency The WB Dhaka office on Saturday issued a statement saying the bank will proceed with support for the Padma Bridge only if the Anti-corruption Commission (ACC) launches a full and fair investigation based on evidence of corruption under the…
‘Please panel for Padma fund’
A South Asia Director of Japan International Cooperation Agency (JICA) on Monday said the World Bank’s return to Padma bridge project depended on its external panel’s ‘satisfaction’. “If the external panel is not satisfied, the World Bank will not be…
‘Abul Hasan recommended, not me’
Former Communications Minister Syed Abul Hossain has admitted of receiving recommendation from former State Minister for Foreign Affairs Abul Hasan Chowdhury to appoint Canadian firm SNC Lavalin as Padma bridge project consultant. But he claimed that he did not put…
Japan pledges $2.1 bln for metro rail
Japan has made about $ 2.1 billion aid commitment for the Mass Rapid Transit Development (MRT) project aimed at easing the Dhaka’s nagging traffic gridlock. “The total cost of the project is $2.7 billion and Japan will provide us $2.1…