AFP, BEIJING: China’s central bank yesterday said it would again reduce interest rates by 25 basis points, its fourth such cut since November as it tries to boost growth. The benchmark interest rate would be reduced to 4.85 per cent and the deposit rate to 2 per cent from Sunday, the People’s…

Abu Dhabi based airline 'Rotana Jet' recently began its operation in Bangladesh, says a press release. Rotana Jet will initially operate three weekly flights on Tuesdays, Thursdays and Saturdays. Flights will be operated by Airbus A319 with 120 seat capacity. The airline plans to operate to…

Xinhua/BSS, TOKYO: Japanese automaker Toyota Motor Corp on Friday announced that it has developed virtual human model software which could simulate posture changes of vehicle occupant prior to collisions and thus may help improvement of safety technologies to better protect occupants. “Toyota…

AFP, NEW YORK: US online giant eBay said on Friday its board approved the planned spinoff of its PayPal online payments unit, which will trade as an independent company July 20. The plan calls for the distribution of PayPal stock to eBay shareholders on July 17, with the financial unit starting to trade…

BSS/Xinhua, VIENNA: The Austrian trade deficit has decreased by 3.16 billion euros (US$ 3.52 billion) to reach 1.74 billion euros in 2014, Statistics Austria stated Friday. In its conclusive findings on the 2014 trade balance, the statistics office said the result had come about from a 0.7 per cent…

Malik Md Nizamul Hasan Sheriff has recently joined Bakhrabad Gas Distribution Company Limited as managing director, says a press release. Prior to the appointment, Sheriff was serving the company as general manager.    

Mostafa Kamal and Moslem Mia have been elected president and secretary respectively of Dhaka Newspaper Hawkers’ Multipurpose Cooperative Society Limited, says a press release. All the mem-bers of the managing committee were elected unopposed. The other office-bearers are : vice president -Motaleb…

AFP, MOSCOW: Russia’s oil giant Rosneft said on Friday its net profit rose by 30.2 per cent in the first quarter from the same period last year to 56 billion rubles ($1 billion). The results were adjusted however as the company revised its 2014 first-quarter income down from 88 to 43 billion rubles…

AFP, ATHENS: Greece will hold a referendum on July 5 on the outcome of negotiations with its international creditors taking place in Brussels yesterday, Prime Minister Alexis Tsipras announced. “The people must decide free of any blackmail... the referendum will take place on July 5,” Tsipras…

The Bangladesh Securities and Exchange Commission has announced that it will be making some changes to the rules and regulations governing Venture Capitalist and Private Equity firms. The firms will be under the jurisdiction of the Alternative Investment Rules which will be published on a gazette notification…

AFP, LONDON: Oil prices rose over the week despite the crude market facing pressure from high supplies, as traders awaited deals over Greece’s bailout and Iran’s nuclear programme. OIL: The weekly US industry report showed domestic output still high and commercial fuel inventories at generous…

PTI, London: Global economy is “slowly slipping” into Great Depression-like problems of 1930s, Reserve Bank of India (RBI) Governor Raghuram Rajan has warned, asking central banks from across the world to define “rules of the game” to find a solution. Rajan, who is among the…