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PM invites Malaysia to set up full Perodua car production facility in Bangladesh

Prime Minister Sheikh Hasina on Wednesday invited Malaysia to set up full manufacturing facilities for their Perodua cars in Bangladesh.She said this when outgoing Malaysian High Commissioner Haznah Md. Hashim called on her at the Prime Minister's Office (PMO), reports UNB.Prime Minister's Press Secretary M Nayeemul Islam Khan briefed reporters...

Reopening of offices and businesses

With the reopening of offices and businesses, a clothing vendor finds some customers seeking to make purchases. The photo was taken on the New Market premises in the capital on Wednesday. — FE photo

Luxury brands suffer as Chinese shoppers hold back

BEIJING, July 24 (BBC): China's economic slowdown and a crackdown by Beijing on displays of wealth are taking a toll on some of the world's top luxury brands.LVMH says its sales in Asia, which include China but not Japan, fell by 14 per cent in the three months to the...

India likely to ease curbs on some Chinese investments

NEW DELHI, July 24 (Reuters): India is likely to ease restrictions on Chinese investment in non-sensitive sectors like solar panels and battery manufacturing where New Delhi lacks expertise and which hinders domestic manufacturing, two government sources said.The government plans to free up sectors to Chinese investment that it deems less...

NRB Bank launches Offshore Banking

NRB Bank Ltd has opened Offshore Banking Unit (OBU) with the slogan 'Banking Beyond Boundary'. Mohammed Mahtabur Rahman, Chairman of the bank, formally inaugurated the Offshore Banking Unit at the bank's corporate head office in Dhaka recently. Vice Chairmen Golam Kabir and Mohammed Jamil Iqbal, Chairman of the Audit Committee...

Japan plans record hike in minimum wage

TOKYO, July 24 (Reuters): A panel at the Japanese labour ministry has decided to raise the national average minimum wage by about 5 per cent to 1,054 yen ($6.85) per hour this fiscal year, the biggest ever jump, public broadcaster NHK reported on Wednesday.Achievement of sustainable inflation and strong wage...

Thailand unveils billion-dollar scheme to boost economy

BANGKOK, July 24 (AFP): Thailand's government unveiled a billion-dollar handout scheme on Wednesday that it hopes will boost the flagging economy but warned recipients would not be allowed to spend the money on marijuana, jewellery or lottery tickets.More than 50 million eligible citizens will be able to begin registering for...

Gold prices rise on softer dollar

NEW YORK, July 24 (Reuters): Gold prices rose on Wednesday as the dollar slipped with investors' focus shifting to U.S. economic data due this week for fresh signals on the timing of the central bank's interest rate cuts.Spot gold was up 0.7% at $2,425.28 per ounce, as of 1349 GMT....