Over half of the world’s poor people are still out of social safety net coverage despite the fact that the investment in the social safety net programmes saw a significant increase in the recent years, according to a new  report published by World Bank Group,  reports BSS. “A growing…

Bangladesh earned USD 124.73 billion by exporting readymade garments over the last six and a half years, Commerce Minister Tofail Ahmed said yesterday, reports BSS. ”Bangladesh earned $124.73 billion by exporting readymade garments to 140 countries of the world from January, 2008-2009 to May,…

Beijing on Monday named a former vice minister of finance as its preferred candidate to head the China-led Asian Infrastructure Investment Bank (AIIB), a potential rival to the Washington-based World Bank,  reports AFP from Beijing. “The Chinese government has officially nominated Jin Liqun…

Oil rebounded in Asia yesterday on bargain-hunting after prices plunged a day earlier as Greek defiance against austerity measures imposed by its creditors sparked turbulence in global markets, reports AFP from Singapore. Prices rose ahead of an emergency summit on Greece by eurozone leaders in Brussels…

Stocks regained yesterday after witnessing fall in the previous three consecutive trading sessions. The rebound was attributed to the rally in the multinational companies (MNCs) and power sectors, reports BSS. The broader price index of Dhaka Stock Exchange (DSE), DSEX, recovered the three day’s…

AFP, SHANGHAI: Chinese shares took another tumble Tuesday, defying government efforts to arrest a precipitous fall that has wiped an estimated $3.2 trillion off markets and threatens the world’s number-two economy. The government over the weekend announced a halt to initial public offerings (IPOs)…

AFP, SEOUL: Samsung Elec-tronics yesterday flagged a second-quarter drop in operating profit that missed analyst estimates after sales of its newest flagship smartphone failed to meet expectations. The earnings forecast came as a South Korean court ruled in Samsung’s favour against a US hedge…

SM Jaffar has joined the Premier Bank Limited as deputy managing director recently, says a press release. Prior to the appointment, he was serving as additional managing director of Progoti Insurance Limited.

AFP, TOKYO: The euro held steady yesterday as European leaders prepare for a summit after Greece at the weekend voted against accepting more austerity measures, pushing the country closer to a eurozone exit. In Tokyo afternoon trading, the common currency edged down to $1.1031 and 135.30 yen from 1.1057…

Emirates airlines plans to launch services in Multan, Pakistan from August 1, says a press release. Multan will be the airline’s 6th destination in Pakistan. The aircraft can carry up to 23 tonnes of cargo, which will open up many more trade opportunities in the region. Emirates presently operates…

With a view to tapping into the growing commercial vehicles’ market in Bangladesh, IFAD Autos Ltd, country’s one of the leading motor vehicle body manufacturers, is now setting up an assembly plant for buses and trucks in Dhamrai, Dhaka. The company hopes to assemble 4,000 vehicles at the…

AFP, LONDON: British Prime Minister David Cameron's government will this week unveil the first Conservative budget in almost 20 years, targeting deep welfare cutbacks to honour a campaign pledge to slash spending. Finance minister George Osborne, boosted by a surprise May 7 vote giving his centre-right…

AFP, BRUSSELS: European leaders warned Greek Prime Minister Alexis Tsipras to present new bailout proposals at an emergency summit yesterday or risk leaving the euro, after Greeks defiantly voted ‘No’ to further austerity in a referendum. Tsipras will face his 18 eurozone counterparts in…

AFP, LONDON: British bank HSBC fired six staff after they filmed a mock Islamic State-style execution video during a team-building day out and posted footage online, a spokesman confirmed yesterday. The bank described the video, showing staff members in balaclavas holding a fake knife over a kneeling…