Bangladesh Bank (BB) has issued compulsory anti-money laundering (AML) guidelines for non-banking financial institutions (NBFIs) to help combat money laundering and terror financing, reports yesterday. Similar to those for commercial banks, the guidelines emphasized that NBFIs should know their clients…

AFP, LONDON: Britain should build a third runway at London Heathrow airport to ease congestion, a government-appointed commission recommended yesterday despite opposition from environmentalists and London mayor Boris Johnson. The runway would cost £17.6 billion ($27.6 billion), but would generate…

AFP, SINGAPORE: Oil prices eased in Asian trading yesterday after Greece missed a 1.5-billion-euro ($1.7-billion) payment to the International Monetary Fund. In mid-afternoon trade, US benchmark West Texas Intermediate for August delivery was 85 cents lower at $58.62 while Brent crude was down 78 cents…

A Memorandum of Understanding (MoU) has been signed between Ifad Autos and Ashok Leyland of India on the assembly of Ashok Leyland vehicles in Bangladesh, reports UNB. Managing director of Ifad Autos Taskin Ahmed and Ashok Leyland’s managing director Vinod Dasari signed the MoU on behalf of their…

The government is relentlessly working for the development of Jamdani industry like muslin industry, Industries Minister Amir Hossain Amu said yesterday. “The Bangladesh Small and Cottage Industries Corporation (BSCIC) has set up a Jamdani Industrial City and a research centre at Noapara in Narayanganj…

AFP, NEW DELHI:  Some of India’s biggest industrialists pledged billions of dollars yesterday to back Prime Minister Narendra Modi’s ambitious plan to provide Internet connection for all. After storming to power at a general election in May 2014, the Internet savvy prime minister promised…

Shamsuddin Ahmad has been elected chairman of Prime Bank Securities Limited in the 21st board meeting of the company on Monday, says a press release.   Ahmad is also the chairman of the Audit Committee of Prime Bank Limited. He has 26 years of experience in the World Bank tackling development challenges…

The country’s local electronics giant Walton is now offering its produced LED (Light Emitting Diode) television at the same prices of CRT (Cathode Ray Tube) televisions, says a press release. Now, the customers who are belonging to the lower income group can purchase a Walton brand 19-inch LED…

Mahindra Comviva, one of the global leaders in providing mobile financial and mobility solutions, signed a strategic agreement with the Pole SCS (Secured Communicating Solutions) of Provence Alpes Côte d’Azur region, France, a worldwide recognised technology cluster dedicated to the development…

AFP, BEIJING: The World Bank yesterday urged China to accelerate reform of its state-dominated financial sector, warning that failure to address the issue could end “three decades of stellar performance” for the world’s second-largest economy. The ruling Communist Party has pledged…

AFP,  KUALA LUMPUR: Credit ratings agency Fitch surprised analysts by upgrading Malaysia’s sovereign outlook to “stable” from “negative”, boosting the country’s currency yesterday and providing welcome relief to the country’s controversy-plagued government.…

AFP, MOSCOW: Gas giant Gazprom said yesterday it was halting all natural gas supplies to Ukraine after pricing talks broke down in the latest row between Russia and its war-torn ex-Soviet neighbour. “Ukraine did not pay for July gas supplies,” Gazprom said. “Gazprom halted gas supplies…

AFP, VIENNA: An Austrian court has rejected a class action case against Facebook for alleged privacy breaches, saying it lacks jurisdiction to decide the matter, court officials said yesterday. Law graduate Max Schrems and 25,000 other users are suing Facebook for various rights violations, including…

AFP, TOKYO: The euro held steady in Asia yesterday as traders shrugged off the widely expected default by Greece, with focus now turning to the weekend’s referendum, which could determine the country’s eurozone future. The single currency bought $1.1136 and 136.44 yen in Tokyo trade compared…

AFP, ATHENS: In chaotic scenes, thousands of angry elderly Greeks yesterday besieged the nation’s crisis-hit banks, which have reopened to allow them to withdraw vital cash from their state pensions. “Let them go to hell!” said one pensioner waiting to get his money, after failed talks…

AFP, SKOPJE: Greece’s regional neighbours took measures Monday to protect their banks and economies from the escalating financial crisis there and the possibility of a Greek exit from the euro. Athens on Sunday announced capital controls following a collapse in bailout negotiations with its creditors,…

AFP, MAHACHAI:  A belated Thai clampdown on illegal fishing is forcing unlicensed vessels ashore, threatening to paralyse a key industry as the kingdom desperately tries to avoid a European Union ban on exports worth $1 billion a year. Barrels of fish packed in ice are usually rolled off boats…

AFP, BEIJING: Chinese manufacturing activity saw a slight improvement in June, official data suggested yesterday, but analysts said more stimulus to the world’s number two economy would likely be needed to re-energise the sector. The official Purchasing Managers’ Index (PMI) released by…