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Plea for modern methods in business

The state minister for foreign affairs has stressed the application of scientific and modern methods in business management to increase profits. M Shahriar Alam was inaugurating a two-day training for the management officials of various businesses in Dhaka. He said modern management methods could generate more profits and employment, thus ensuring greater private sector contribution to Bangladesh’s economy. He also ...

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Bangladesh Bank instructs banks to cut interest on loans

Commercial banks have not brought down lending rates, despite a cut in interests on deposits, says the Bangladesh Bank. “Bangladesh Bank thinks it’s necessary to cut interest rates on loans to create an investment-friendly atmosphere in the country,” reads the minutes of a bankers’ meeting held on Apr 30 at the Bangladesh Bank. It also says that Governor Atiur Rahman ...

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Bangladesh invites Thailand’s PTTEP to explore oil, gas in the Bay

Bangladesh has invited Thailand’s biggest energy firm to bid for exploration in the Bay of Bengal, to which the Forbes Global 500 company has responded positively, an official statement in Dhaka said Ambassador to Bangkok Saida Muna Tasneem extended the invite to Thai Energy Minister Narongchai Akrasanee on Thursday Narongchai said PTT Exploration and Production Pcl, as the state oil ...

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India, Bangladesh agree on coastal shipping

India and Bangladesh has finalised a draft agreement on coastal shipping to allow river vessels to carry cargo between the two countries. Government sources said that the agreement was finalised during a secretary-level talk held at New Delhi on Friday. The arrangement would allow River Sea Vessels (RSV) to carry cargo between the two neighbouring countries. In terms of berthing ...

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Bangladesh set to earn $1.2 million a year as Cabinet clears 10GBPS bandwidth export to India

The Cabinet has cleared an agreement to export unused submarine cable bandwidth to India that will fetch Bangladesh $1.2 million every year. The proposal, placed by the Post and Telecommunication Division, was approved at Monday’s regular meeting, chaired by Prime Minister Sheikh Hasina, Cabinet Secretary Muhammad Musharraf Hossain Bhuiyan said. He said the agreement to supply 10GBPS (gigabyte per second) ...

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Sonali Bank chairman resigns

The Chairman of state-owned  Bangladeshes  Sonali Bank AHM Habibur Rahman has resigned eight months before the completion of his tenure. He submitted his resignation letter to the board of directors on Sunday. He cited ‘personal reason’ for resigning. The resignation was later forwarded to the Bank and Financial Institution Division at the Ministry of Finance. Even though Habibur Rahman showed ...

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Marks & Spencer shares jump on clothing sales increase

Marks & Spencer shares rose to their highest level in seven years after the retailer posted a long-awaited rise in clothing sales. The retailer said sales for the three months to 28 March rose by 1.9%. Closely-watched general merchandising sales, which include women’s clothing, rose 0.7% on a like-for-like basis over the quarter, its best performance in nearly four years. ...

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Asian shares edge up as US jobs data awaited

The dollar stuck to its recent ranges in holiday-thinned trading on Friday and stocks edged up as investors awaited key US employment figures for possible clues on when the Federal Reserve will hike interest rates. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, while Japan’s Nikkei stock average was up 0.3 percent. Wall Street logged modest gains ...

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Major powers and Iran have stretched talks on Tehran’s nuclear programme into a second day past an end-March deadline, with diplomats saying the chances for a preliminary deal were balanced between success and collapse.   Both Brent and US crude prices snapped three-session losing streaks on Wednesday, gaining $2 or more after data from the Energy Information Administration (EIA) showed ...

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