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Summit overcomes financing hurdles for two big power projects Local power company Summit has overcome its financing hurdles to two major base-load power projects while it is formally withdrawing from another power project in Bibiyana so that the government can award the deal for that to a Saudi company. Summit chief Muhammad Aziz Khan has […]

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China Communication Construction Company Ltd (CCCC) yesterday placed a feasibility study for a multi-lane road tunnel under the Karnaphuli River to Bangladesh Bridge Authority. The company proposed to build the 3.5-kilometre-long tunnel at least 33 metres down from the river bed at a cost of over $700 million, according to the report. The tunnel may […]

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Bangladesh has objected to the new rules of the UK Border Agency on the financial statements required for British visa applications. The UK government named only 14 banks in Bangladesh to issue financial documents to support visa applications, which the Bangladesh foreign ministry said was a violation of international rules. “Picking only 14 banks out […]

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BP Plc is expected to pay a record US criminal penalty and plead guilty to criminal misconduct in the 2010 Deepwater Horizon disaster through a plea deal reached with the Department of Justice (DoJ) that may be announced as soon as Thursday, according to sources familiar with discussions. Three sources, who spoke to Reuters on […]

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Agora to get its food items tested by a government research organisation before selling to customers Ahmad Ismail Mustafa, chairman of Bangladesh Council of Scientific Research (BCSIR), and Niaz Rahim, managing director of Rahimafrooz Superstores, shake hands after signing a deal in Dhaka yesterday. Rahimafrooz’s chain superstore Agora will use BCSIR’s technology to ensure safe […]

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WB says the country should cash in on its low-cost edge over the competitors From left, Ahsan H Mansur, executive director of Policy Research Institute; Zahid Hussain, a senior economist of World Bank in Bangladesh; AMA Muhith, finance minister; Ellen Goldstein, WB country director; Debapriya Bhattacharya, distinguished fellow of the Centre for Policy Dialogue, and […]

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Dhaka, Nov 14 (bdnews24.com)—Former central bank Governor Salehuddin Ahmed on Wednesday alleged that a part of the private sector credit was diverted to some other areas where it was not meant to go. “I conducted a study on 18 branches in Cox’s Bazaar, Netrokona and other areas recently and I found some businessmen took SME […]

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The comeback of GMG Airlines, which is now offline, by previously announced December this year is still uncertain as the airliner could not complete its ‘new business strategy’ yet. “It will take time, but the delay will not be from our side,” said Asif Ahmed, director (marketing, communication, HR and customer experience) of GMG Airlines. […]

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Dhaka, Nov 13 (bdnews24.com) – Bangladesh needs to attain 7.5 to 8.0 percent growth along with 8.0 percent remittance growth to reach middle income country status by 2021, says a World Bank report. The report titled `Bangladesh: Towards Accelerated, Inclusive and Sustainable Growth-Opportunities and Challenges` revealed that both GDP growth and remittances would play an […]

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The Emirates Group yesterday announced its half yearly results, which remain robust despite continued global economic pressure and high fuel prices. The Group posted $575 million net profit for the first six months of its current fiscal year that ended on September 30, up 68 percent from $343 million from September 30 last year, said […]

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Prime Minister Sheikh Hasina and her Belarusian counterpart Mikhail Myasnikovich witness the signing of 12 agreements and MoUs between Dhaka and Minsk at her office on Monday. Bangladesh and Belarus inked seven agreements and five memorandums of understanding (MoU) on Monday to strengthen bilateral relationship. The agreement and MoUs were signed for expansion of trade […]

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Shafiul Islam Mohiuddin, president of Bangladesh Garment Manufacturers and Exporters Association, speaks in a press briefing after the meeting with buyers at the BGMEA office in Dhaka Sunday.  Over two dozens of renowned global buyers on Sunday said Bangladesh is their first choice for garment sourcing in the wake of China’s shift from the RMG […]

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