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Bangladeshi tech company, Toggi Services launches air purifier device

Bangladeshi tech company, Toggi Services Limited, has launched an electric air purifier device from its own brand which is available at ecommerce platform only. Made with German method, the Toggi-branded air purifier is capable of cleansing confined air covering up to 30 cubic meters area for four times per hour to keep the room fresh whether at home or office, ...

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McDonald’s hit by customer data breach in Taiwan and South Korea

Burger giant McDonald’s hit by customer data breach McDonald’s hit by data breach in Taiwan and South Korea McDonald’s is the latest big company to be hit by a data breach that has exposed customers’ details. The world’s biggest burger chain said cyber attackers had accessed a “small number” of files on customers in South Korea and Taiwan. The breach ...

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Bangladesh’s stock market a hidden gem, says HSBC

Thanks to the potential of the country’s listed companies, HSBC has termed Bangladesh’s stock market as a “hidden gem” for fund managers. Although Bangladesh has higher earnings growth, the sell-side remains limited, the British multinational investment bank said in a report on the Asia frontier styled, “Bangladesh at 50: ready to close the gap with Vietnam”. With a market cap-to-GDP ...

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Unilever Bangladesh appoints Zaved Akhtar as new CEO

Unilever Bangladesh Limited on Thursday announced the appointment of Zaved Akhtar as their Chief Executive Officer (CEO) and Managing Director (MD) — effective from 1 July 1, 2021. Zaved will also join the Unilever South Asia Leadership Team. He is currently serving as the Vice President of Digital Transformation & Growth, South Asia, based in India. He will succeed Kedar ...

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World Bank sees Bangladesh GDP growing at 5.1% in FY22

The World Bank expects Bangladesh to recover gradually from the pandemic crisis, with 5.1 percent growth in fiscal year 2021-22 on the back of 3.6 percent in the outgoing financial year ending Jun 30. Private consumption, the main engine of growth, is supported in the country by normalising activity, moderate inflation, and rising ready-made garment exports, the global lender said ...

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Free vaccines, food to cost India an additional $11billion

India will need to spend an additional 800 billion rupees ($11 billion) to provide free vaccines and food to millions of people devastated by a deadly wave of coronavirus infections, Bloomberg News said on Tuesday. The government of the world’s second most populous nation will earmark an additional 700 billion rupees to provide food until November to the poor and ...

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Tesla cancels the longest-range Model S Plaid, confirms Elon Musk

Production for Tesla Inc’s (TSLA.O) longest-range Model S Plaid+ is canceled, CEO Elon Musk said in a tweet on Sunday. “Plaid+ is canceled. No need, as Plaid is just so good.” Musk tweeted. Model S Plaid+, which would have been Tesla’s highest-end model with a driving range of 520 miles, was unveiled at a battery event last year and Musk ...

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Banking transact hour from 10am to 3pm until June 6

Banks will continue their existing limited hour- transactions from 10 am to 3 pm on workdays until June 16. Bangladesh Bank issued a circular on Sunday for all banks in compliance with the Cabinet Division’s latest directives on the countrywide restrictions to contain the Coronavirus transmission. The banks can keep open offices until 4:30 pm to do their necessary activities, ...

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G7 nations sign historic pact to make tech giants pay fair taxes

Finance ministers from the G7 group of leading economies are confident of striking a deal on taxing multinational companies at their meeting in London of UK. The agreement is expected to include a global minimum rate of corporation tax. It would target tech giants such as Amazon and Microsoft. Finance minsters will also discuss climate change at the two-day meeting ...

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Listed and non-listed companies get 2.5pc tax cut

Companies listed on the stock exchanges will get a 2.5 per cent corporate tax cut from the 2021-22 fiscal year, according to the budget proposal placed in the parliament on Thursday. “I propose to further reduce the tax rate for listed companies from 25% to 22.5% for FY2021-22”, said Finance Minister AHM Mustafa Kamal. He also proposed to reduce the ...

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