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Egypt hikes fuel prices as part of austerity drive

Egypt on Saturday announced new hikes on fuel prices as part of austerity measures tied to an IMF loan as it seeks to cut subsidies and reduce its public debt.   The price hikes of between 35 and 50 percent were announced by Oil Minister Tarek el-Molla and go into effect immediately, state media reported.  They follow a decision this ...

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A trade war looms as Trump slaps tariffs on Chinese imports

Photo: President Donald Trump speaks to reporters at the White House on Friday in Washington. Washington, June 16 : President Donald Trump brought the world’s two biggest economies to the brink of a trade war Friday by announcing a 25 percent tariff on up to $50 billion in Chinese imports to take effect July 6. Beijing quickly responded that it ...

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Trump preps China tariff target list, Beijing ready to retaliate

US President Donald Trump on Friday was due to unveil a final list of Chinese imports that would face punishing tariffs, fanning fears of a trade war as Beijing warned that it could swiftly strike back.   The threat of massive duties on billions of dollars of goods sent Shanghai stocks to their lowest level since September 2016, though it ...

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British engine maker Rolls-Royce cutting 4,600 jobs

LONDON, June 14, 2018 : Rolls-Royce, the British maker of plane engines, said Thursday that it plans to cut 4,600 mainly British jobs by 2020, adding to thousands of cuts already announced in recent years. “Rolls-Royce announces the next stage in our drive for pace and simplicity with a proposed restructuring that will deliver improved returns, higher margins and increased ...

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German Business Council formed to strengthen business ties with Bangladesh

Photo: Members of German business community in Bangladesh at a meeting in Dhaka. Dhaka, Jun 13 : The Germany Embassy, Dhaka and the German business community in Bangladesh have jointly agreed to establish the German Business Council (GBC), a platform for the German businesses in Bangladesh. This group will also take the lead to strengthen business relationship between Bangladesh and ...

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New five-taka,two-taka notes to be issued Monday

The government will issue newly introduced Taka 5 and Taka 2 notes as the government currency from Monday (tomorrow), said a press release.   Finance Division Secretary Mohammad Muslim Chowdhury will sign the notes which will be issued at Motijheel branch of Bangladesh Bank (BB) on Sunday (tomorrow) and other offices of the central bank later, the release said.  The ...

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House of Fraser to close more than half its UK stores

Department store chain will shut 31 outlets, including London flagship Full list of 31 House of Fraser stores under threat of closure High street 2018: lost shops and at least 35,000 jobs at risk House of Fraser is to close more than half its UK stores, putting a further 6,000 jobs at risk and dealing another hammer blow to the ...

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Asian shares rally on jobs data, despite trade talks impasse

Singapore, Jun 4 : Asian stock indexes rose Monday as investors rallied around a U.S. jobs report, despite fresh signs of a burgeoning trade war as weekend China-U.S. trade talks ended in an apparent impasse. KEEPING SCORE: Japan’s benchmark Nikkei 225 index rose 1.4 percent to 22,481.64 and South Korea’s Kospi gained 0.3 percent to 2,446.77. Hong Kong’s Hang Seng ...

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NBR likely to get Tk 291,000cr revenue collection target for 2018-19 FY

Dhaka, June 2 : The National Board of Revenue (NBR) is likely to get a gigantic target to collect Tk 291,000 crore in revenue during the coming 2018-19 fiscal year, up 16.84 percent from Tk 248,190 crore of the current fiscal year. According to sources at the NBR, Finance Minister AMA Muhith has asked the revenue collecting authority to fix sector-wise ...

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Small firms face ‘extermination’ due to Network Rail asset sale

Thousands of businesses based in railway arches are facing rent hikes of up to 500% George Grant with his father Ronnie, who started his business 60 years ago in Clapham’s railway arches. George Grant (right) with his father Ronnie, who started his business 60 years ago in Clapham’s railway arches. Photograph: David Levene for the Guardian Thousands of small businesses ...

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