Finance News: Latest Financial News, Finance News today in Bangladesh

Outflow outweighs inbound tourists

Every year on an average one million Bangladeshi tourists are going abroad spending a lot of money in foreign currencies, according to sources with local tour operators. Against this large number of outbound tourists, less than 50 thousand are coming in, the sources said. Toufiq Uddin Ahmed, president of the...

Cement export prospect bright

Bangladesh is expected to be Asian hub of cement production soon for qualitative product diversification and use of environment-friendly technologies, industry-insiders said while seeking government support in paving the path for export of the surplus output in larger volumes. They said the demand for quality cement is high in outside...

No move to inject new life into BSCIC industrial plots

The government is yet to take any initiative to infuse fresh life into hundreds of industrial estates under the BSCIC, thus putting investors in dire straits, insiders said. Nearly 1,000 industrial plots of Bangladesh Small and Cottage Industries Corporation (BSCIC) have been lying vacant for a long despite high demand...

Labour row clouds French job-creation summit

PARIS, July 6 (AFP): French President Francois Hollande on Monday kicks off a summit with business leaders aimed at creating half a million vitally-needed jobs in return for lower taxes, but a labour row threatens to mar the event. The two-day conference aims to tackle record unemployment of 3.38 million...

UK economy \\\'to beat France by 2020\\\'

The UK's economy is set to overtake that of France by 2020 to become the second largest in Europe, according to forecasts by consultancy firm PwC, reports BBC. It says the UK's value is aided by the strength of the pound against the dollar compared with that of euro, together...

News Briefs

France scrapping plan to raise tax on hotel stays PARIS, July 6: France is expected to scrap a planned hike in the tax levied on hotel stays after an outcry by the tourist industry, the Journal de Dimanche newspaper reported Sunday. The draft law proposed by the lower house of...

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Photo: Islami Bank Bangladesh Limited

Ctg, Mongla, Benapole ports struggle hard to cope with stockpile of undelivered cars

Country's main two seaports Chittagong, Mongla and landport Benapole are struggling hard to cope with a huge number of undelivered cars those stockpiled due to complexities relating to customs, officials said. The cars lying undelivered for a long time are disrupting normal port activities severely, they said. "The disruptions caused...

BoCom selected to clear yuan in South Korea

BEIJING, July 6 (Xinhuanet): Shanghai-based Bank of Communications scored a first when it was designated by China's central bank as a yuan clearing bank in Seoul, the lender said in an e-mailed statement Friday. The People's Bank of China signed a yuan clearing agreement with the Bank of Korea on...

Indian Modi to unveil reform agenda in maiden budget

NEW DELHI, July 6 (AFP): India's new government, led by right-winger Narendra Modi, Thursday unveils its maiden budget -- its first big policy statement on how it intends to overhaul an economy saddled with slow growth and weak public finances. Although Modi's government will likely fail to shrink a yawning...

US co to invest $1.175b in Iran

TEHRAN, July 6 (AFP): A US company has signed a preliminary agreement to invest US$1.175 billion (864 million euros) in Iran, in a rare joint commercial project to turn rubbish and human waste into electricity. California-based World Eco Energy told the news agency it plans to produce 250 megawatts daily...

DIFC looks to Asia for next 10 yrs of growth

DUBAI, July 6 (Gulf News): The Dubai International Financial Centre (DIFC) has helped grow Dubai's banking and financial industry from 6.0 to 7.0 per cent of Dubai's GDP in 2005 to more than 11 per cent today, after 10 years of strong growth the DIFC is now looking to companies...

Malawi seeks economic freedom, after 50 years of independence

BLANTYRE, Malawi, July 6 (AFP): As Malawi marks 50 years of freedom from colonial rule on Sunday, many local people say the country today is living in a new form of bondage: poverty. At an event in the capital Lilongwe, thousands of Malawians, along with African leaders such as Zimbabwe's...

Japan hopes Ottawa trade talks result by end-year

OTTAWA, July 6 (Reuters): Current trade talks in Ottawa between Japan, the United States and 10 other Pacific rim countries are key to advancing the planned Trans-Pacific Partnership (TPP) to its final stage by year-end, Japan's chief negotiator said on Saturday. US President Barack Obama said on June 20 his...