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

Hyundai Rotem set to get Tk 26.79b contract

South Korean rolling stock manufacturer Hyundai Rotem Company, the second lowest bidder, is set to be awarded a locomotive supply contract worth Tk 26.79 billion. The railway ministry sent a proposal in this regard to the cabinet committee on government purchase (CCGP) a couple of days ago. The lowest bidder,...

Thai businesses seek to invest in BD

Thai entrepreneurs have sought to invest in Bangladesh in different sectors like automobiles, renewable power and energy, electronics equipment, household equipment and infrastructural development. Kobsak Pootrakool, Minister attached to the Thai Prime Minister's Office, said this at a 'Business Dialogue' between a high-profile Thai delegation and the Bangladesh-Thai Chamber of...

Denim Show kicks off in city

With its investment in advanced technologies and use of finer fabrics, Bangladesh has emerged as a lucrative denim sourcing destination to the global buyers, participants at a denim show said. The two-day 'Bangladesh Denim Show' kicked off Wednesday at the International Convention City Bashundhara, focusing on equality in the supply...

Most migrant workers can't avail WEWB services

Most migrant workers are being deprived of services of the Wage Earners' Welfare Board (WEWB), speakers at a workshop said on Tuesday.Due to lack of hassle-free access to the services and proper campaign, most workers can't avail themselves of supports from the Welfare Board, they added.Rights activists, officials and civil...

News Briefs(10-5-2018)

Walmart acquiring FlipkartTOKYO, May 9: US retail giant Walmart Inc is acquiring Indian e-commerce player Flipkart, the chief executive of one of Flipkart's biggest shareholders, SoftBank Group, said on Wednesday. Walmart would invest $10 billion-$12 billion in Flipkart for a controlling stake of more than 51 per cent at a...

China ramps up checks on US pork imports

BEIJING May 9 (Reuters): China has ramped up inspections of pork shipped from the United States (US), importers and industry sources said, the latest American product to be hit by a potentially costly slowdown at Chinese ports in the past couple of weeks.Some trade experts said they believe Beijing is...

IMF raises 2018 GDP growth forecast for Asia, Hong Kong

HONG KONG, May 9 (Xinhua): The International Monetary Fund (IMF) raised its forecast for Asia's economic growth to 5.6 per cent, and that for Hong Kong to 3.6 per cent, according to a report it released here Wednesday.The IMF released its latest regional outlook for the Asia Pacific, forecasting economic...

Indian pharma cos see optimistic attitude of ties with Chinese mkt

NEW DELHI, May 9 (Xinhua): Organised by Drug Export Promotion Council of India, the 6th Medifest India was opened in New Delhi, capital of India. Many pharmaceutical companies in India participating in the Expo welcomed China's tariff cuts for some medicine imports.From May 1, China has scrapped import tariffs on...

Toyota nets $23b profit in fiscal yr 2017-18

TOKYO, May 9 (AFP): Japanese car giant Toyota reported a record full-year net profit on Wednesday thanks to a weaker yen and US tax cuts, but warned about the outlook for the next 12 months.Company president Akio Toyoda said the industry was facing "profound change" and pledged to transform the...

Alibaba buys Pakistan e-commerce firm Daraz

SHANGHAI, May 9 (AFP): Chinese e-commerce giant Alibaba said on Wednesday it had purchased leading Pakistani online retailer Daraz, continuing its overseas expansion by gaining a foothold in the growing South Asian consumer market.The move came after Alibaba announced in March a doubling of its investment in Southeast Asian e-commerce...

Babuganj civil society and local elite recently accorded a reception (with a bouquet) to Salma Nasreen ndc, Director, BDBL

Babuganj civil society and local elite recently accorded a reception (with a bouquet) to Salma Nasreen ndc, Director, Bangladesh Development Bank Limited (BDBL) and Additional Secretary to the Financial Institutions Division, Ministry of Finance while she was participating in a tripartite audit meeting in Sonali Bank Ltd, Barishal. General Manager...