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Qatar to supply Bangladesh LNG under long-term deal: Official

The oil-rich Qatar is expected to ink a long-term, deal with Bangladesh on Thursday to supply liquefied natural gas (LNG) as the country desperately looks for the petroleum product at cheaper rate as the Ukraine crisis spiked its prices for the past one year, officials said on Wednesday. Prime Minister’s energy affairs adviser Tawfiq-e-Elahi Chowdhury told the news agency that ...

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BTMA urges garment makers to buy yarn from local market

Bangladesh Textile Mills Association (BTMA) on Tuesday urged the woven and knit garment makers to open back-to-back letters of credit (LCs) and buy yarn from the local market to reduce stockpiling of unsold yarn and save US dollar. The textile millers also demanded the government for increasing the allocation from the Export Development Fund (EDF) to US$30 million from $20 ...

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NDB issued CNY 8.5 bln bond in China Interbank Bond Market

New Development Bank (NDB) has successfully issued CNY 8.5 billion bond in the China Interbank Bond Market, as part of its strategy to diversify the Bank’s presence in the capital markets and mobilize resources for financing sustainable development projects. NDB established a new benchmark Panda bond transaction in the China Interbank Bond Market which surpass its previous issuance size of ...

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Bank default loans surge to Tk1.31 lakh crore

The defaulted loans in the banking sector climbed by aboutTk10, 954 crore to Tk1,31, 621 crore in the January-March quarter. According to Bangladesh Bank (BB) the defaulted loans increased by 9 percent from three months ago and 16 percent from a year earlier, UNB reports. Despite different initiative of the central bank, defaulted loans is on a rising trend, which ...

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Gold prices cut by Tk 1749 a bhori

Bangladesh Jewelers Association (BAJUS) has decided to reduce the price of gold by 1,749 per bhori following a decrease in the price of pure gold in the local market. With the latest cut, a customer will be able to buy one bhori of 22-carat gold (11.664 grammes) at Tk 96,695. The new prices will come into effect from Monday (May ...

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FBCCI donates Tk 1cr to Bangabazar fire-affected traders

  The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) today handed over a cheque for Tk one crore as grants to rehabilitate the traders who were affected by the recent fire incident at Bangabazar clothing market in the capital. FBCCI President Md. Jashim Uddin handed over the cheque to the BangaBazar Complex Dokan Malik Samity today at the ...

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Difficult times bring Russia and Cuba closer together

For the first time since the breakup of the Soviet Union, Russia is taking an intense interest in Cuba as Moscow has become increasingly isolated over its invasion of Ukraine, AFP reports. Top Russian officials have flocked to the island nation this year, starting in March with Nikolai Patrushev, Moscow’s secretary of the Security Council, alongside the executive director of ...

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FBCCI’s Jashim Uddin takes over as President of SAARC Chamber

President of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) Md. Jashim Uddin took charge as the president of the SAARC Chamber of Commerce and Industry (SCCI), the apex trade body of the South Asian region, at the Hotel Intercontinental in Dhaka on Thursday. He will be serving as the SAARC Chamber president in 2023–24. The new president ...

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Chinese Company to invest $10.73m in BEPZA EZ

Chinese factory Join Win (Bangladesh) Company Ltd. is going to set up a shoe accessories manufacturing industry in BEPZA Economic Zone (EZ) with an investment of US$ 10.73 million. They today signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex in the city, said a press release. Ali Reza Mazid, Member (Investment Promotion) ...

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Govt to buy 1.80cr liters of soybean oil, 80,000 MTs of fertiliser

The Cabinet Committee on Government Purchase (CCGP) has approved separate proposals for procuring some 1.80 crore liters of soyabean oil, 80,000 metric tons of fertiliser and 12,500 metric tons of sugar to meet the demand of the country. The approvals was given at the 18th meeting of the CCGP held on Wednesday (May 24, 2023) virtually with Finance Minister AHM ...

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