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US oil production could hit 14 ml bpd

2014-08-08 00:00:00

HOUSTON, Aug. 7 (Xinhua): Technological advances will allow energy firms to pump more crude out of oil plays and drive US oil production to as high as 14 million barrels per day in 2016, an oil company executive said yesterday....

Chicago agricultural commodities rise on tensions in Ukraine

2014-08-08 00:00:00

CHICAGO, Aug. 7 (Xinhua): Chicago agricultural commodities closed higher yesterday as tensions in Ukraine led to a rush of short covering. The most active corn contract for December delivery rose 7 cents, or 1.91 per cent, to close at 3.7425...

\\\'International factoring\\\' sought as trade payment mechanism

FE report | 2014-08-08 00:00:00

Local banks, enterprises and trade bodies are in favour of introducing 'international factoring' on an experiment basis at the initial stage as the practice is still unfamiliar to most of the local stakeholders like banks and exporters, a study has...

New power project gets Tk 1.0b loan from BIFFL

FE Report | 2014-08-08 00:00:00

The Bangladesh Infrastructure Finance Fund Ltd (BIFFL), a new state-run financial institution, has provided loan amounting to Tk 1.0 billion to a private company for setting up a power plant in Munsiganj. It was the first loan of BIFFL since...

Billions in investments underscore US shift toward focus on trade with Africa

2014-08-08 00:00:00

WASHINGTON, Aug. 7 (Xinhua): This week's US-Africa Leaders Summit wrapped up yesterday after the announcement of 33 billion US dollars in investment commitments, highlighting Washington's shift toward a focus on trade with the continent, experts say. The unprecedented event, which...

India approves foreign investment hike in railways, defence

2014-08-08 00:00:00

NEW DELHI, Aug 7 (AFP): India's cabinet has approved plans to open its defence and railways industries to foreign investment as new Prime Minister Narendra Modi's right-wing administration moves to reform and revive the ailing economy. The cabinet agreed late...

News Briefs

2014-08-08 00:00:00

Spanish factories raise output MADRID, Aug 7: Spanish factories boosted production in the year to June for the eighth month in a row, official data showed Monday, as a hesitant economic recovery gathered strength. Spanish industry pushed up output by...

Photo: Mario Draghi, president of the European Central Bank (ECB)

2014-08-08 00:00:00

RBI chief warns of another mkt crash

2014-08-08 00:00:00

NEW DELHI, Aug 7 (AFP): India's central bank governor, renowned for forecasting the 2008 financial meltdown, has warned that the world economy faces risk of another market crash as asset prices surge. Increasing global financial instability stems from investors chasing...

EU, Canada end free trade talks

2014-08-08 00:00:00

BRUSSELS, Aug 7 (Xinhua): The European Union (EU) and Canada on Wednesday finished negotiations on the Comprehensive Economic and Trade Agreement (CETA), said an EU official statement. Following last October's breakthrough on the political issues regarding the free trade agreement...

Sri Lanka to cut rate

2014-08-08 00:00:00

COLOMBO, Aug 7 (Reuters): Sri Lanka's central bank chief said on Thursday there is a greater chance of a cut in key monetary policy rates than a hike, despite the IMF's advice to keep key rates on hold for the...

British govt to explore Bitcoin potential

2014-08-08 00:00:00

LONDON, Aug 7 (AFP): British finance minister George Osborne said Wednesday the government would further explore the potential of digital currencies such as Bitcoin. The regulation of virtual and digital currencies, and the risks associated with them, will be examined...

ECB holds key rate at 0.15pc

2014-08-08 00:00:00

FRANKFURT, Aug 7 (AFP): The European Central Bank held its key interest rates unchanged at its regular policy meeting Thursday, two months after easing monetary conditions in the 18-country euro area. As widely expected, the ECB's decision-making governing council decided...

Bans against Russia a heavy blow to Finnish economy

2014-08-08 00:00:00

HELSINKI, Aug 7 (Xinhua): While voicing his support for the latest round of EU sanctions against Russia, Finnish Prime Minister Alexander Stubb admitted that it will exert a significant indirect impact on the Finnish economy. He told a press conference...

Moody\\\'s maintains Cyprus ratings

2014-08-08 00:00:00

NCOSIA, Aug 7 (Xinhua): Moody's international ratings agency has maintained Cyprus's Caa3 ratings with a positive outlook but warned of a default risk in a report on Wednesday. Despite the better than expected performance of the Cypriot economy, Moody's said...

Photo: The DB police nabbed seven persons along with fake currencies

2014-08-08 00:00:00

exchange rate

2014-08-08 00:00:00

Global growth to slow as populations age: Moody\\\'s

2014-08-08 00:00:00

PARIS, Aug 07 (AFP): As populations age around the world, economies will be held back and growth trends will slow sharply in the next 20 years, a report forecast on Thursday. The mismatch of old people to the numbers of...

Dollar mixed ahead of central bank meetings

2014-08-08 00:00:00

NEW YORK, Aug 7 (AFP): The dollar Wednesday dropped against the yen and the euro, but gained on the British pound ahead of central bank meetings in Britain, Japan and Europe later this week. The euro, which had dropped to...

Asia\\\'s most expensive home per square foot on sale in Hong Kong

2014-08-08 00:00:00

HONG KONG, Aug 07 (AFP): Asia's most expensive home per square foot is set to go on sale in Hong Kong, which boasts some of the world's costliest properties despite efforts to curb skyrocketing prices. The 4,661 square-foot (433 square-metre)...

World Bank trims Philippine growth forecast, sees higher inflation

2014-08-08 00:00:00

MANILA, Aug 7 (Reuters): The World Bank lowered its growth forecasts for the Philippines this year and the next after weak state spending in the second quarter and a tightening of monetary policy, but the bank said strong domestic demand...

South African business confidence at 15-year low

2014-08-08 00:00:00

JOHANNESBURG, Aug 07 (AFP): South African business confidence has fallen to its lowest level since 1999, amid protracted labour disputes, a leading survey showed on Thursday. The South African Chamber of Commerce and Industry's Business Confidence Index fell to the...

Thai consumer confidence index hits 11-month high in July

2014-08-08 00:00:00

BANGKOK, Aug 7 (Reuters): A university's index of Thai consumer confidence rose for the third month in July, suggesting domestic demand might be improving after the army seized power and pledged to fix an economy battered by prolonged political tensions....

Weak German industry output adds to signs of Q2 slowdown

2014-08-08 00:00:00

BERLIN, Aug 7 (Reuters): German industrial output rose just 0.3 per cent on the month in June, missing a forecast rise of 1.3 per cent, as fears over the crisis in Ukraine weighed, adding to signals that Europe's largest economy...

Strong Swiss franc hits Nestle earnings: company results

2014-08-08 00:00:00

ZURICH, Aug 07 (AFP): The world's leading food industry group Nestle on Thursday posted slumping earnings and sales for the first half of the year, blaming the effect of a strong Swiss franc. During the first six months of the...

Australia\\\'s jobless rate hits 12-year high

2014-08-08 00:00:00

SYDNEY, Aug 07 (AFP): Australia's unemployment rate spiked to a 12-year high of 6.4 per cent in July, data showed Thursday, lowering expectations of a near-term hike in interest rates as the economy shows signs of weakness. The surprise jump...

Country now under barbaric rule, alleges Mirza Fakhrul

2014-08-08 00:00:00

BNP termed Thursday 'heinous and inhuman' the police attacks on the workers of Tuba Group who were on a movement demanding their dues and festival bonus, reports UNB. In a statement, BNP acting secretary general Mirza Fakhrul Islam Alamgir also...

Broadcasting policy an evil attempt to gag media, alleges SCBA

2014-08-08 00:00:00

President of the Supreme Court Bar Association (SCBA) Khandaker Mahbub Hossain alleged Thursday that the new broadcasting policy is an 'evil attempt' by the government to muzzle the mass media, reports UNB. "We think the government has framed the new...

ACC approves filing chargesheet against Kh Mosharraf

FE Report | 2014-08-08 00:00:00

The Anti Corruption Commission (ACC) approved Thursday a proposal for submitting chargesheet against former health and family welfare minister and senior BNP leader Dr Khandaker Mosharraf Hossain in a money laundering case. ACC public relations officer Pranab Kumar Bhattacharya told...

Iranian MPs urge Islamic states to unite on Palestine

2014-08-08 00:00:00

Visiting Iranian parliamentary delegation chief Fatemah Rahbar urged the Islamic countries Thursday to unite on the Palestine issue, reports BSS. She made the call at a press conference at the Jatiya Sangsad (JS) media centre at the end of a...