AFP, Strasbourg :The European Commission on Tuesday said France, Italy and Portugal were in violation of EU rules on public spending and would be more closely monitored by Brussels. In a regular report on the national budgets in EU member states, the commission pointed to France’s “large public debt coupled with deteriorated productivity growth”.It also singled out Italy’s “high government debt” along with a worrying level of long-term unemployment that “weighs on growth prospects”. In total, the public spending in...
Economic Reporter :The country’s scheduled banks are offering single digit interest rate for all products, except consumer loans and credit card, to their clients as per the decision of a recent meeting between Finance Minister AMA Muhith and the bank authorities.“As per the decision, each bank is bringing down their interest rates to single digit. Banks are implementing this decision,” Secretary General of the Association of Bankers Bangladesh (ABB) M Arfan Ali told.Recently, Finance Minister AMA Muhith told the journalists...
BSS, Rajshahi :In line with other banks, Rajshahi Krishi Unnayan Bank (RAKUB) has opened mobile banking operation at its Local Principal Office (LPO) Monday.Dutch Bangla Bank Limited extended requisite technical support towards the venture.RAKUB Chairman Prof Dr Shah Newaz Ali opened the programme as the chief guest saying the bank has entered into a new era of banking.Managing Director Mofazzal Hossain, Deputy Managing Director Dr Nazmul Bari, General Manager (Administration) Nishit Kumar Shaha, General Manager (Operation) Ekramul Haque and General...
Business Desk :State Minister for Fisheries and Livestock Ashraf Ali Khan Khasru MP said on Thursday officials in banks as well as other financial institutions can play an important role in boosting national economy.He said bank officials through providing their transaction service networks to the door-steps of the people can play a pivotal role in steering the nation towards progress and prosperity.He also urged bankers to discharge their duties with utmost sincerity and honesty by keeping them above their self-interests...
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AFP, Hong Kong :Asian markets rallied on Monday, extending their gains at the end of last week, following another strong US jobs report that reinforced confidence in the US economy and helped settle trade war nerves.While Friday’s tit-for-tat tariffs on billions of dollars of goods by the world’s top two economies were seen as damaging, analysts said the the impact would be limited.Global markets had been tumbling ahead of the imposition of the tariffs but bounced on Friday.The upbeat sentiment...
Business Desk :Raymond Apparels Ltd, a buying house and Triton, an advertising agency, are going to organize programme “Sramik Ullash”...
Xinhua, Frankfurt :The European Central Bank (ECB) Thursday decided to cut all the interest rates by 10 basis points and start buying non-financial private sector assets.The interest rates on the main refinancing operations, the marginal lending facility and the deposit facility of the Eurosystem will be decreased by 10 basis points to 0.05 percent, 0. 3 percent and minus 0.2 percent starting from the operation to be settled on Sept. 10, 2014, said an ECB announcement.The Eurosystem will purchase a...
AFP, Shanghai :A new bank dedicated to the emerging BRICS countries opened for business in China’s commercial hub of Shanghai Tuesday, the official Xinhua news agency reported.The so-called emerging BRICS countries are made up of Brazil, Russia, India, China and South Africa, and their “New Development Bank” has been seen as a challenge to the Washington-based International Monetary Fund and World Bank.The institution’s management was “working on initiation of operations”, Xinhua quoted bank president K. V. Kamath, formerly a private...
Economic Reporter :Stocks extended loss to straight third week on Sunday when the indices sunk further to close the week’s first trading session. DSEX, the broader price index of Dhaka Stock Exchange (DSE) lost over 37 points to finish the day at 4435.46 when the blue-chip DS30 and the Shariah DSES followed it to finish down at 1703.77 and 1078.86 respectively.Market analysts attributed the fall to the heavy sell-off in large-cap securities, including BSRM Limited, Orion Pharma and Summit Power.According...