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Facebook doubles profit, but sees cooling growth

Facebook on Wednesday reported its profit doubled in the recently ended quarter as digital advertising surged, but warned of cooler growth in the months ahead in an update which sent its shares sinking. Profit jumped to $10.4 billion on revenue of $29 billion, a 56 percent increase from last year, mainly from a jump in ad revenues, Facebook said in ...

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World economy seen growing 6% in 2021: IMF

The International Monetary Fund is sharply upgrading its economic outlook this year for the world’s wealthy countries, especially the United States, as COVID-19 vaccinations help sustain solid rebounds from the pandemic recession, reports AP. But the 190-country lending agency has downgraded its forecast for poorer countries, most of which are struggling to vaccinate. Overall, the IMF said that it expects ...

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Nagad to issue BDT 5 billion zero-coupon bond

Nagad is set to issue a zero-coupon bond of Tk 5 billion with a face value Tk 7.5 billion at the end of its five-year maturity, in a first for a mobile financial services provider in Bangladesh. Strong interest from many foreign investors has already been sighted since the announcement of the bond for the DFS disruptor in Bangladesh. Reportedly, ...

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COVID: US-Bangladesh biz council delivers essential supplies to Dhaka

The US-Bangladesh Business Council, in collaboration with American NGO Project CURE, has donated essential medical supplies to Dhaka to help bolster the country’s fight against Covid-19. The donation includes 60 oxygen concentrators, variable positive air pressure (VPAP) units and other oxygen supplies, and device accessories, including 45,000 pieces of personal protective gear, including KN95 and N95 masks, for corona patients ...

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With eye on 3 SEZs, Japan wants to boost its investment in B’desh

Japan eyes three special economic zones (SEZs), including the one at Araihajar, Narayanjanj, to give a big boost to Japanese investment in Bangladesh but things depend on the success of the first one, says Japanese Ambassador to Bangladesh Naoki Ito. “This (Araihajar EZ) should provide the best possible environment and the best possible incentives for the investors,” he said, adding ...

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Banks reopen, transaction to continue till 1:30pm

All banks across the country reopened on Sunday after a four-day break on account of the holy Eid-ul-Azha festival and weekly holidays. The transaction will go on till 1:30pm, as per a circular issued by Bangladesh Bank. It said the banks will operate on a limited scale between July 25 and August 5 — from 10am to 1.30pm only, instead ...

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Banks to open from Sunday for limited hours

After a four-day break on account of the holy Eid-ul-Azha festival and weekly holidays, banks and financial institutions in Bangladesh will open from Sunday. However, all banks will remain open for customers for only three-and-a-half hours daily due to the country-wide 14-day strict lockdown that was reimposed on Friday to contain the spread of rising Covid cases. As per a ...

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India watchdog accuses Amazon of concealing facts

India’s antitrust regulator has accused Amazon.com Inc of concealing facts and making false submissions when it sought approval for a 2019 investment in a Future Group unit, a letter to the US e-commerce giant seen by Reuters showed. The letter complicates Amazon’s bitter legal battle with Future Group over the Indian’s firm’s decision to sell its retail assets to Reliance ...

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Britain’s new trading scheme to benefit Bangladesh

The UK government has launched a new scheme that aims to drive trade with Bangladesh and other countries boosting jobs and growth. The new trading rules will help countries come out of poverty and help British businesses and consumers at the same time, said the UK government. The UK Developing Countries Trading Scheme (DCTS) is a major opportunity to grow ...

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Covid staff shortage in UK could shut meat production lines

Staff absences could see shortages of meat products, the industry has warned. Meat processors are seeing up to one in 10 of their workforce told to self-isolate by the NHS Covid app. Some companies could be forced “to start shutting down production lines all together,” warned Nick Allen, chief executive of the British Meat Processors Association (BMPA). As Covid cases ...

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