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Saudi firm to invest $100 million in Bangabandhu Hi-Tech City

DataVolt, a pioneering data centre developing and power generation company of Saudi Arabia, has announced to set up a data centre at a cost of US$100 million in Bangabandhu Hi-Tech City (BHTC) at Kaliakor in Gazipur district. DataVolt Chief Strategy Officer Ayad Al Amri made this announcement at a bilateral meeting with State Minister for ICT Zunaid Ahmed Palak at ...

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Foreign exchange reserves fall below $22bn

The foreign exchange reserves of Bangladesh Bank (BB) decreased to $21.5 billion after paying the $1.31 billion import bills of the Asian Clearing Union (ACU). The foreign exchange reserves of Bangladesh have fallen in stress and continually decreased since easing the COVID-19 pandemic increasing the demand for imports, reports UNB. Despite BB’s move to tighten the spending of US dollars ...

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Chinese Company to invest US$19.5m in Mongla EPZ

Chinese factory M/s QSL.S Garments Company Ltd is going to set up a Readymade Garments (RMG) industry in Mongla EPZ (MEPZ) with an investment of US$19.5 million. In presence of BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, Bangladesh Export Processing Zones Authority (BEPZA) and M/s QSL.S Garments Co. Ltd. today signed an agreement to this effect at ...

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Riyadh to boost cooperation with Dhaka in all possible areas: Crown Prince

Saudi Crown Prince and Prime Minister Mohammad Bin Salman has said the kingdom would work together with Bangladesh to enhance cooperation in all possible areas. He made this assurance at a meeting with Bangladesh Prime Minister Sheikh Hasina on the sidelines of the G20 summit on Sunday morning in New Delhi, reports UNB. According to the Foreign Ministry of Bangladesh, ...

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Global food prices down 2.1 pct in August: FAO

The benchmark index of international food commodity prices has declined 2.1 percent compared to July, the United Nations Food and Agriculture Organization (FAO) said Friday. The prices of rice, however, surged by 9.8 percent in August to a 15-year high compared to a month earlier. The increase was triggered by India’s rice export ban from July, complicated by a seasonal ...

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Yellen says US ‘carefully’ monitoring China economy

The United States is “carefully” monitoring China’s challenges, US Treasury Secretary Janet Yellen said Friday, as the slowdown in the world’s second largest economy raises concerns for global growth, reports AFP. Many are worried about the Asian giant’s struggles, with the threat of recession in Europe and high inflation in many major economies contributing to a plunge in demand for ...

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Govt to import 2 cargoes of LNG at cost of Tk 1,270cr

The government will import two cargoes of Liquefied Natural Gas (LNG) from the international spot market at a total cost of Taka 1,269.8 crore. Cabinet Committee on Government Purchase on Thursday approved two separate proposals of state-owned Petrobangla, placed by the Energy and Mineral Resources Division, UNB reports. Both the proposals were approved as unsolicited offers on the basis of ...

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Toyota blames shutdown on ‘insufficient disk space’

Car giant Toyota on Wednesday blamed a shutdown of all its factories in Japan last month on a system malfunction caused by “insufficient disk space”. The world’s top-selling automaker said the one-day stoppage on August 29 at all 14 of its domestic plants happened after servers that process parts orders broke down following a maintenance procedure. During this operation “data ...

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Global trade finance gap expands to 2.5 trillion USD in 2022: ADB

The global trade finance gap grew to a record 2.5 trillion U.S dollars in 2022 from 1.7 trillion dollars two years earlier, as rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity of banks to deliver trade financing, according to the 2023 Trade Finance Gaps, Growth and Jobs Survey released by the Asian Development Bank (ADB) ...

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Bangladesh gets $1,599m remittance in August

During the month of August in the fiscal 2023-24, expatriate Bangladeshis sent around US $ 1,599.45 million remittances. As per Bangladesh Bank (BB) available data, state-owned banks brought in $183.19 million while 43 private sector banks brought $1,376.02 million remittances. The highest $340.17 million remittance came to the country through Islami Bank Bangladesh Ltd.

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