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Bangladesh eyes $ 2.2b from GCF for 48 projects

Bangladesh is expecting to get US$ 2.2 billion from Green Climate Fund (GCF) for implementation of 48 projects as it has finalised the country programme (CP) prioritising adaptation to the impacts of climate change, officials said. However, a good number of mitigation projects have also been included in the CP,...

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Revenue board exempts BSC from VAT on buying six Chinese ships

The National Board of Revenue (NBR) has exempted the Bangladesh Shipping Corporation (BSC) from paying Value Added Tax (VAT) on account of its purchase of six new ocean-going ships.Otherwise, the corporation would be required to pay VAT at a rate of 15 per cent on the purchase value of the...

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ADB provides $200m loan to upgrade rural road network

The Asian Development Bank (ADB) will provide more than $200 million as credit to help improve rural road network for 51.5 million people in Bangladesh.The ADB Board of Directors gave approval to the finance package at its headquarters in Manila on Tuesday, said an ADB press release."Rural roads are critical...

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BIMSTEC to push for free trade

Free trade issue and cooperation on customs matters will figure prominently in a two-day meeting of the BIMSTEC trade negotiating committee beginning in Dhaka on November 18, officials said. Other issues related to the framework agreement among the member-countries of BIMSTEC will also come up for discussion at the meeting....

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Exporters to get Tk 11.25b in incentives FE Report

The government released the second installment of cash incentives totalling Tk 11.25 billion for disbursement among exporters in the current fiscal year (FY), 2018-19.The Ministry of Finance issued a circular to this effect on Tuesday.This installment covers the October-December period of the fiscal year.Of the total amount, Tk 1.25 billion...

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News Briefs-(8-11-2018)

Malaysia seeks FBCCI support to export missionMalaysian High Commissioner to Bangladesh Nur Ashikin Binti Mohd Taib on Wednesday sought cooperation of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to hold the 'Export Acceleration Mission' to be held in Dhaka during November 11-12. She made the request during...

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Chief Executive Officer (Business Complex-1) of Partex Star Group Quazi Mohammad Shahed

Chief Executive Officer (Business Complex-1) of Partex Star Group Quazi Mohammad Shahed and Chief Operating Officer of Rakeen Development Company BD Ltd. AKM Zahurul Islam exchanging documents after signing an agreement between Partex Furniture Industries Limited and Rakeen Development Company BD Ltd in the city recently. Under the deal, all...

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Prime Minister Sheikh Hasina announcing the inauguration of the BEPZA Public School and College

Prime Minister Sheikh Hasina announcing the inauguration of the BEPZA Public School and College, Uttara EPZ, Nilphamari through video conferencing from the Gonobhaban, Dhaka recently

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President of the International Business Forum of Bangladesh Humayun Rashid

President of the International Business Forum of Bangladesh Humayun Rashid, Immediate Past President Hafizur Rahman Khan, Vice President MS Siddiqui, Vice President (Finance) Lutfunnisa Saudia Khan cutting a cake to celebrate the 13th anniversary of the forum at a city hotel recently

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Marcel posts 41pc sales growth in 10 months

Marcel, one of the leading electronics and electrical appliance manufacturers in the country, posted 41 per cent sales growth in the period from January to October of this year, reports UNB.The local brand also set a target of 82 per cent sales growth in the next year. To meet the...

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Hyundai, Kia to invest $250m in Grab

The Hyundai Motor Company and Kia Motors Corporation are set to invest an extra $250 million in Singapore's ride-hailing firm Grab, reports CNBC.In a statement Wednesday, the Hyundai Motor Group and Grab Holdings said they would also set up a partnership to pilot electrical vehicle (EV) programmes throughout Southeast Asia.The...

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IFC supports development of wind farm in Jordan

The International Finance Corporation (IFC) has set up a financing package to fund the construction of a wind farm in Jordan, it announced on Tuesday, reports CNBC.The package, of up to $80 million, will support the 51.75-megawatt (MW) Arbour Wind Farm in the south of the country. The facility is...

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China remains Dubai's biggest trading partner in first nine months

DUBAI, Nov 07 (Xinhua): China maintained its position as the biggest trading partner with Dubai, the United Arab Emirates (UAE), in the first nine months of 2018, Dubai Customs reported Tuesday.China's trade with Dubai in the first nine months amounted to AED 102.9 billion (about 27.8 billion US dollars), reported...

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Philippines' trade deficit widens as imports surge

MANILA, Nov 07 (Xinhua): The Philippines' trade deficit widened in September this year as imports continued to surge outpacing exports that declined during the month, the government said on Wednesday.The Philippine Statistics Authority (PSA) said the Philippines' deficit widened to 3.93 billion US dollars in September 2018, from the 1.75...

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Brunei's economy declines 2.8pc in Q2 2018

BANDAR SERI BEGAWAN, Nov 07 (Xinhua): Brunei's economy posted a negative growth of 2.8 per cent year-on-year at constant prices to 4326.9 million Brunei dollars (3151.9 million US dollars) in the second quarter of 2018, dragged by slowing oil and gas production.According to the latest statistics released by the country's...

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