Business Desk :International male grooming brand Studio X is started its journey in Bangladesh with a full range of products...
Xinhua, Kuala Lumpur :The Nomura Research has revised up Malaysia’s 2018 gross domestic product (GDP) forecast to 5.5 percent from 5 percent, due to improving oil prices.As a net exporter of oil (0.3 percent of GDP) and an even larger net exporter of liquefied natural gas (LNG) (2.6 percent of GDP) – the price of which is closely linked to oil, Malaysia stands out as a clear-cut winner in the region from higher oil prices, Nomura said in its Asia...
UNB, Beijing :Asian stock markets were mostly lower Monday after Chinese manufacturing weakened and oil went on roller-coaster ride.KEEPING SCORE: The Shanghai Composite Index gave up 1.2 percent to 3,173.08 and Tokyo’s Nikkei 225 was off 0.6 percent to 17,576. Hong Kong’s Hang Seng shed 0.3 percent to 24,441.32. Seoul’s Kospi was down 0.1 percent at 1,947.68. Markets were mixed in Southeast Asia while Australia’s S&P/ASX 200 rose 0.8 percent to 5,631.50.CHINESE MANUFACTURING: Surveys by HSBC Corp. and a Chinese...
Business Desk :European Union (EU) Delegation to Bangladesh Ambassador Charles Whiteley has praised Bangladesh’s recent economic transformation and its ability to produce quality exportable products in the region. He made the statement while meeting the Board of Directors of Metropolitan Chamber of Commerce and Industry (MCCI) at Gulshan office in Dhaka on Wednesday, said a press release.The EU envoy was received by MCCI members, led by its President Md Saiful Islam.During the visit, Whiteley emphasized the capacity building of public,...
Economic Reporter :State-owned mobile phone operator Teletalk has teamed up with NOKIA and Alcatel-Lucent-Shanghai Bel (ALSB) to spread out its network under a modernization and expansion project.To this end, Teletalk on Wednesday struck two separate deals with NOKIA and ALSB for package-2 and package-3.Teletalk Managing Director Gias Uddin Ahmed, NOKIA South Asia Market Unit Head Nicolas Bouverot and NOKIA Networks CT Country Head Roland Reynier inked the agreements in presence of State Minister for Posts and Telecommunications Tarana Halim at...
Business Desk :Trade utilising the inland water transport (IWT) services can serve as one of the key factors for economic recovery in Bangladesh, as well as in South Asia. But lower navigability and inadequate infrastructure at river ports are now the biggest challenges faced by the country.Despite having a huge potential, the IWT sector could not grow properly due to the lack of waterway maintenance for years, speakers said at a webinar titled “Promoting Inland Waterways: Prospects and Challenges,” organised...
Business Desk :The government has decided to launch countrywide truck sales of key essential items through family cards in June 2022 to keep the prices within people’s purchasing power, according to a statement.However, the state-owned Trading Corporation of Bangladesh (TCB) suspended its decision to sell essential items like edible oil, lentils and sugar through truck sales which was set to begin on May 16. Dhaka City South Corporation (DSCC), Dhaka City North Corporation (DNCC) and Barisal City Corporation continue distributing...
AFP, Sydney :Qantas’ chief executive Alan Joyce Friday said the Australian carrier expects to post a pre-tax profit in the three months to September following a record net loss, and was on track to complete its major cost-cutting programme.Speaking at the airline’s annual meeting in Melbourne Joyce said preliminary figures showed Qantas had made an underlying profit before tax for the first-quarter of the 2015 financial year.“In four months we expect to deliver a first half-profit for 2015,” Joyce said,...
Business Report :United Commercial Bank Limited (UCB) and International Finance Corporation (IFC) signed three agreements in Dhaka. Under the agreements IFC will finance UCB for a total sum of USD75 million in three modes: GTFP, WCSS STF and SEF Remediation finance for RMG industries, says a press release on Monday. A signing ceremony was held at corporate office of UCB at Gulshan Dhaka on Monday, which was represented by Muhammed Ali, Managing Director of UCB and Mengitsu Alemayehu, Director, South...
AFP, London :The price of gold collapsed this week close to five-year lows, punished by mounting speculation of a US Federal Reserve rate hike later this month. Gold nosedived to $1,046.43 per ounce on Thursday, touching the lowest level since early February 2010, as the stronger dollar dented demand. Upbeat non-farm payrolls data on Friday reinforced expectations of a December 16 Fed rate increase, dealers said. “Gold has been taking a hammering on increasing expectations of a December rate rise...