Bangladesh and Vietnam have decided to take steps to increase the volume of annual bilateral trade to US$1000 million by 2016 as the both countries agreed to remove all trade related barriers and establish physical connectivity for their mutual benefits, reports BSS. This decision was taken during a…

Industries Minister Amir Hossain Amu yesterday sought Japanese assistances in making affordable Pajero sports car and Mitsubishi pick-up for the people of the country, reports BSS. The minister made the request while new Japanese Ambassador in Bangladesh Masato Watanabe paid a courtesy call on him at…

AFP, MOSCOW: Russia's central bank chief yesterday insisted that the country's beleaguered banking system is out of danger after being battered by the economic crisis rocking the country. "The situation in the banking system is by and large a mirror for what is happening in the economy,"…

PTI, Beijing: China’s central bank has allowed usage of Russian currency ruble along with yuan instead of US dollar in Suifenhe city on the Sino-Russian border in northeast China, the first site in the communist country where a foreign currency can freely circulate. The People’s Bank of…

Stocks fell for a third straight day, with banking, energy, cement and tannery shares posting the major declines yesterday, as investors continued selling shares for refreshing their portfolio, reports BSS. The broader DSEX index of Dhaka Stock Exchange (DSE) fell 28.72 points to 4815.63 when the blue-chip…

AFP, SHANGHAI: China is mulling the merger of two of its largest shipping companies as part of a restructuring plan for state-owned enterprises (SOEs), according to a media report. Beijing may merge China Ocean Shipping Group, known as Cosco, the largest shipping company in the country by fleet size,…

Warren Buffett's investment firm Berkshire Hathaway has agreed a deal to buy aircraft components manufacturer Precision Castparts Corp (PCC) for $37.2 billion (£24 billion), reports BBC. This represents $235 a share, compared with Friday's closing price of $194. Buffett said he had "admired…

Russian energy giant Gazprom has announced a sharp rise in profits thanks in large part to a weak rouble, reports BBC. Net profit for the first three months of the year was 382 billion roubles ($5.9 billion; £3.8 billion), up 71 per cent on a year earlier. Total sales rose 6 per cent to 1.65 trillion…

AFP, HONG KONG: Oil prices fell in Asian trade yesterday, extending weeks of losses after a US report stoked expectations of a global glut. US benchmark West Texas Intermediate (WTI) for September delivery was at $43.76, down from $43.87 on Friday in New York -- its lowest close since March 17. Brent…

AFP, TOKYO: The dollar rose against the yen in Asia yesterday after a solid US jobs report boosted expectations the Federal Reserve will soon lift interest rates. In Tokyo, the greenback ticked up to 124.40 yen from 124.22 yen in New York on Friday. The euro edged higher to $1.0972 and 136.48 yen, from…

AFP, ATHENS: Greece and its creditors were to continue talks yesterday after marathon discussions late into the night, with both sides indicating that the terms of a third bailout were close to being finalised. The finance and economy ministers, Euclid Tsakalotos and Giorgos Stathakis, were back at…

AFP, SHANGHAI: Chinese Internet giant Alibaba is to pay 28.3 billion yuan ($4.6 billion) for a near-20 per cent stake in consumer electronics retailer Suning, the two companies said in a statement yesterday. At the same time the Chinese shopping chain will invest up to 14 billion yuan for just over…

AFP, HONG KONG: A seafood lunch in Hong Kong is enjoyed by locals and visitors alike, but with threatened species on the menu and fishing practices that endanger marine life, campaigners want to change the city’s appetite. Hong Kong is the second-largest consumer of seafood per capita in Asia—an…

AFP, SHANGHAI: Shanghai shares closed up 4.92 per cent yesterday as speculation of a broad overhaul of state-owned enterprises (SOEs) trumped weak economic figures released over the weekend, dealers said. The benchmark Shanghai Composite Index added 184.22 points to 3,928.42 on turnover of 652.6 billion…