Expatriates' Welfare and Overseas Employment Minister Nurul Islam yesterday said Probashi Kallyan Bank will be made a scheduled bank for ensuring smooth services for expatriates, reports UNB. Wage Earners Board of the Ministry provided Tk 50 crore to the bank authorities in this regard, said the…

Bangladesh will achieve 6.8 per cent GDP growth in 2016-17 financial year (FY17), predicts the World Bank (WB), reports BSS. “Growth will be sustained at 6.8 per cent in 2017. The economy in Bangladesh has weathered global uncertainties well aided by strengthening investment and a recovery of…

State Minister for Power, Energy and Mineral Resources Nasrul Hamid yesterday said the government has undertaken an initiative to import additional 2,000 MW electricity from neighbouring India within the next two years, reports BSS. “Currently we are importing 600 MW power from India and will…

Finance Minister AMA Muhith yesterday said 7.4 per cent GDP growth will be projected in the new fiscal year 2017-18 (FY18) that will begins on July 1, reports BSS. The minister told the journalists after meetings on Financial Coordination Committee and Budget Monitoring Committee at the secretariat…

Local solar module producers have urged the government to protect local manufacturers by imposing a 10-per cent duty on the import of foreign-made solar modules, reports UNB. The local manufacturers also want the government to impose a reference value at US 50 Cents per watt-peak. Solar Module Manufac-turers…

AFP, SHANGHAI: Global carmakers converge on China for the Shanghai auto show this week, with the industry bracing for a sharp sales slowdown and potential…

A huge range of security weaknesses, said to be worth more than $2m (£1.6m) if sold on the black market, have been leaked online by a hacking group, reports BBC. The tools are said to have been created by the US National Security Agency.  Accompanying documents appear to indicate it was able…

AFP, XIONGAN:  Business owner Hu Weibing weeps at the prospect of losing everything, including his home, after China’s surprise announcement…

AFP, DOHA: Qatar and the Philippines have signed trade agreements worth $200 million during the final leg of President Rodrigo Duterte’s Gulf tour, Manila’s trade and industry secretary told reporters in Doha yesterday. Ramon Lopez said 6,000 jobs would be created in the Philippines as a…

Stocks opened the week down as the major sectors closed the session with falling trends at both Dhaka and Chittagong Stock exchanges yesterday, reports BSS. The falling major sectors included bank and financial institutions. A total of 168 securities of the large-cap group incurred losses due to lower…

AFP, NEW DELHI: With 100 million new internet users every year, Amazon is betting big on India, but a major new investment in homegrown rival Flipkart means the battle to dominate the fast-growing e-commerce market is set to heat up. Flipkart announced this week that top international companies including…

AFP, TEHRAN: Iran’s President Hassan Rouhani inaugurated five new phases of the South Pars gas field yesterday, the result of some $20 billion in investment, local media reported.  The ribbon-cutting of phases 17-21 pave the way for Iran to surpass the production levels of neighbouring Qatar,…

AFP, BEIJING: China’s growth stabilised in the first quarter thanks to rising investments and a recovery in exports, experts said, though they warned the reprieve may be temporary. According to an AFP survey of 16 economic analysts, the gross domestic product expanded 6.8 percent in the first…

AFP, GENEVA:  Credit Suisse’s chief and other top executives offered Friday to have their bonuses slashed by 40 per cent, following investor concern over the size of their proposed compensation packages. Credit Suisse chief Tidjane Thiam and the bank’s executive board proposed that…

Xinhua, TUNIS: Tunisia suffers a trade deficit of 3.88 billion dinars (1.67 billion US dollars) in the first quarter of 2017, the National Institute of Statistics (INS) of Tunisia announced on Saturday. The deficit widened 8 per cent year on year to 66 per cent, said the INS in a periodic note. The…