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Amazon to shut its bookstores, other shops

Amazon.com Inc said on Wednesday it plans to close all 68 of its brick-and-mortar bookstores, pop-ups and shops carrying toys and home goods in the United States and United Kingdom, ending some of its longest-running retail experiments. The news, which Reuters was first to report, marks a turning point for a company that began as an online bookseller and helped ...

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Asian shares slip, oil above $110 as Russia sanctions bite

Asian stocks came under renewed pressure on Wednesday and the price of oil surged past $110 per barrel as investors fretted about the impact of aggressive sanctions against Russia over its invasion of Ukraine. As global sanctions against Moscow tighten, the United States banned Russian flights using American airspace, following similar moves by the European Union and Canada, reports Reuters. ...

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First-ever flagship showroom of Sony-Smart in March

Bangladeshi leading technology-product marketing company Smart Technology (BD) Ltd has come out with a good news for Sony-lover in the month independence, March. Officials of the company said that the first-ever flagship showroom “Sony-Smart” of Japanese Sony Corporation and Bangladesh’s Smart Technologies (BD) Ltd is going to be opened in early March. The final touch at the show-room has been ...

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Have a Ramadan to Remember with Asda

This year, Asda are preparing to celebrate their biggest Ramadan yet with more great deals, more of your favourite products, and an easier shopping experience than ever. As we can finally celebrate Sehris and Iftars together again,  look no further than Asda’s extensive and affordable selection of all your favourite brands to help you break your fast hassle-free and create ...

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Bank of Russia increases key rate by 10.5 pp to 20%

The board of directors of the Bank of Russia has decided to increase the key rate by 10.5 percentage points to 20% per annum starting February 28. This will support the financial and price stability and protect the savings of citizens from depreciation, the regulator said in a statement on Monday. This is an all-time high of the key rate. ...

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Banks write off Tk 580bn bad debts in 18 years

Some Tk 580 billion defaulted loans have been written off in the country’s banking sector in the last 18 years. Banks have written off Tk 579.76 billion from 2003 to September 2021, which is 57.31 percent of the total nonperforming loans (NPL) at present, reveals the latest report of Bangladesh Bank. Banking sector experts say banks have taken this path ...

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Stocks rebound, oil back below $100

Stocks around the world were rebounding on Friday and US Treasuries were selling off as investors welcomed coordinated Western sanctions on Russia that targeted its banks but did not block it from a global payments system and left its energy sector largely untouched. Oil prices were lower on Friday as concerns about supply disruptions eased. On Thursday, oil surpassed $100 ...

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WB approves $300m to help Bangladesh bolster its urban bodies

The World Bank has approved $300 million to help Bangladesh strengthen its urban local government institutions to respond to the Covid-19 pandemic and improve preparedness to future shocks, benefitting about 40 million urban residents. The Local Government Covid-19 Response and Recovery Project will support urban local government institutions to effectively respond to and recover from the pandemic, the World Bank ...

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Oil tops $100, havens rally, stocks dive as Russia invades Ukraine

Oil prices soared past $100 and safe havens rallied while equities tumbled Thursday after Russian President Vladimir Putin sent forces into Ukraine, accelerating fears of a major war in eastern Europe. After weeks of warnings from the United States and other powers, the Kremlin — which is said to have around 200,000 lined up — ordered a wide-ranging offensive into ...

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Bangladesh wants to raise ICT products export to $5 billion by 2025

Commerce Minister Tipu Munshi on Wednesday assured that the government will provide all necessary support for boosting export income from ICT products and services to US$5billion by 2025. “There is a huge demand of Bangladeshi ICT products abroad and we have to utilise this opportunity to achieve our export income target,” he said. Tipu Munshi came up with remarks while ...

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