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Nestle to hike food prices further in 2023: CEO

Nestle will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper, reports Reuters. The increases will not be as steep as they were in 2022, but “we have some catching up to do over the ...

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Bangladesh and Brazil to expand bilateral trade

Bangladesh and Brazil will work together for the further expansion of bilateral trade relations and both countries will support the industries under joint venture and joint collaboration. in this regard, a Memorandum of understanding (MoU) was signed Between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Brazilian Trade and Investment Promotion Agency (APEXBRASIL) last Wednesday at ...

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Bangladesh, South Africa discuss ways to boost trade and investment

State Minister for Foreign Affairs Md Shahriar Alam has said Bangladesh and South Africa have common socio-economic development objectives and there are huge potentials to boost trade and investment. He observed that visa waiver agreement for diplomatic and official passport holders and agreement on avoidance of double taxation between Bangladesh and South Africa will facilitate contacts and increase trade and ...

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55 Bangladeshi companies join consumer goods show ‘Ambiente’ in Germany

Ambiente 2023, an internationally unique platform for consumer goods, began today at Frankfurt, Germany. Some 55 Bangladeshi companies have taken part to showcase their products at the five-day leading global consumer goods show, said a press release here today. Abu Mukhles Alamgir Hossain, Director (Fair and Display) of the Export Promotion Bureau (EPB), said they have been providing subsidised stalls ...

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Economy showing sign of recovery

Despite facing external economic shocks that have led to a dollar crisis, Bangladesh’s export earnings and foreign remittances increased in the first month of 2023. The Export Promotion Bureau (EPB) reported that Bangladesh’s export earnings rose by 5.89 percent to reach $5.13 billion in January 2023, compared to $4.85 billion in the same period last year. Foreign remittances, a crucial ...

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Samsung’s profit plummets to 8-year-low

Samsung Electronics said Tuesday its profit for the last quarter plummeted nearly 70% as a weak global economy depressed demands for its consumer electronics products and computer memory chips. The company’s operating profit of 4.3 trillion won ($3.5 billion) for the three months through December was a 69% decline from the same period a year earlier, representing its lowest quarterly ...

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C&F agents on 2-day strike for 8-point demands

Export and import activities at all customs houses and customs stations have been kept stopped as The Federation of Bangladesh Customs Clearing and Forwarding Agents Association has been observing a two-day work abstention. C&F Agents Association Secretary General Sultan Hossain Khan announced the strike at a press conference on Sunday to realise their 8-point demands. The demands includes HS Code ...

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IMF likely to approve $4.5b loan package for Bangladesh on Monday

Bangladeshi officials have received indications from the International Monetary Fund (IMF) that the multilateral lender’s board has agreed in principle to approve the country’s loan request, reports UNB. Several officials of the Ministry of Finance said that the IMF will approve the loan for Bangladesh on Monday (Jan 30). An IMF team led by Rahul Anand visited Dhaka from October ...

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Stock market gained over Tk 10,185 crore capital last week

The stock market has passed the 4th week of the current month with a capital gain of Tk 10,185 crore in four days, data analysis of the capital market has revealed. The capital of Dhaka Stock Exchange (DSE) was Tk 7.56 lakh crore at the beginning of trading on the first working day of last week. On the last day, ...

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Fake notes infiltrate banks, ATMs!

Lack of sophisticated detection devices and sheer negligence of authorities have enabled a quarter to inject fake notes into banks and automated teller machines (ATMs). Banks say they lack advanced devices to detect counterfeit notes, causing a serious concern for commoners who are often the victims of fake notes. Bankers and jurists are raising eyebrows about counterfeit notes in banks ...

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