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ADB, Meghna Group sign $20m deal for green flour mill

The Asian Development Bank (ADB) and the Meghna Group of Industries have signed a $20-million loan agreement to support the construction of a greenfield, state-of-the-art, energy-efficient flour-milling plant in Bangladesh.This new facility will double the group's wheat flour output and enable the production of quality products while consuming 37-per cent...

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MIDAS Winter SME Fair kicks off in city

A three-day fair styled 'MIDAS Winter SME Fair - 2024' began at the MIDAS Centre in the city on Thursday hosting youth and women entrepreneurs to encourage further employment and promote women's empowerment.As many as 70 youth and women entrepreneurs are participating in the fair housing a vast collection of...

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Qatar to invest $1.3b in climate technology in Britain

LONDON, Dec 5 (Reuters): Qatar will invest 1 billion pounds ($1.3 billion) in climate technology in the United Kingdom, with engineering company Rolls-Royce set to benefit from some of the cash to support its energy transition, the British government said on Wednesday.The announcement was made during a two-day state visit...

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Tax exemptions to be cut 'drastically' in response to IMF's conditions

Bangladesh must meet strict conditions if it wants to get budget support from various partner organisations, including the International Monetary Fund (IMF), and, as a result, the current tax exemptions in industry and trade will be reduced 'drastically', according to National Board of Revenue Chairman Md Abdur Rahman Khan, reports...

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MERCANTILE BANK OPENS CRM BOOTH AT HEAD OFFICE

Mercantile Bank PLC inaugurated a state-of-the-art CRM Booth on its Head Office premises Thursday, offering 24/7 cash deposit and withdrawal service through a single machine. Mati Ul Hasan, Managing Director of the bank, along with other officials launched the facility. The CRM (Cash Recycle Machine) allows account holders to deposit...

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ISLAMI BANK OPENS GANGNI BRANCH IN MEHERPUR

Islami Bank Bangladesh PLC inaugurated its 399th branch namely 'Gangni Branch' in Meherpur on Thursday. Mohammed Monirul Moula, managing director of the bank, inaugurated the branch as the chief guest. Md Altaf Hossain, additional managing director, and Md Maksudur Rahman, deputy managing director, were present as special guests.

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Exporters to get cash incentives for shoe, bag made from synthetic-fabrics mix

Exporters will enjoy cash incentives on shoes and bags made from a mixture of synthetic materials and fabrics under the bond and duty drawback facilities, Bangladesh Bank (BB) announced on Thursday.In a circular, the central bank said the government will provide a 3.0 per cent cash assistance for goods shipped...

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China automakers pivot to hybrids for Europe to counter EV tariffs

SHANGHAI, Dec 05 (Reuters): Automakers in China are ramping up exports of hybrid vehicles to Europe and planning more models for the key market, exposing the limits of the European Union's electric vehicle tariff scheme.The bloc's latest EV tariffs to protect its auto industry from a flood of cheap Chinese...

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Russia's Rosneft invests $20b in India

NEW DELHI, Dec 05 (Reuters): Russian oil producer Rosneft invested $20 billion in India recently, the Indian government quoted Russian President Vladimir Putin as saying in a statement on Thursday, without giving details.Putin said in January that Rosneft planned to expand its presence in India and Indian government officials said...

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German industrial orders fall in latest economic blow

FRANKFURT, Dec 05 (AFP): German industrial orders fell in October after recording a strong jump the previous month, official data showed Thursday, the latest sign of weakness in the country's crucial manufacturing sector.New orders, closely watched as an indicator of future business activity in Europe's biggest economy, fell 1.5 per...

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