US-based Cargill India seeks to set up bonded warehouses in BD
Cargill India, a US-based company, has sought permission to establish bonded warehouses in Bangladesh's customs zones to import cotton with duty-free facilities, sources say.It has also requested to allow the export of surplus cotton to other countries after meeting local demand. The company recently made the request to the Bangladesh...
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Bank Asia to receive $35m from IFC
Bank Asia PLC has signed an agreement with International Finance Corporation, IFC, a private sector arm of the World Bank Group. Through this agreement, Bank Asia will receive USD 35 million for capacity building of the MSME sector. Sohail R K Hussain, Managing Director of Bank Asia, and Allen Forlemu,...
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Boeing reports $11.8b in annual loss after crisis-ridden year
Boeing on Tuesday reported an annual loss of $11.83 billion, its largest since 2020, as it grappled with problems at its commercial and defense units and the fallout from a crippling strike by US West Coast factory workers, reports Reuters.The loss demonstrates the challenges facing CEO Kelly Ortberg in turning...
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EBL gets $35m loan from WB Group member
Eastern Bank PLC (EBL) gets USD 35 million loan from International Finance Corporation (IFC), a member of the World Bank Group, towards supporting working capital and trade-related lending programme. The formal loan agreement between IFC and EBL was signed at the bank's head office in Dhaka on Tuesday, says a...
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Contract farmers face hefty losses after tomato harvest
Standing on his sprawling 75-bigha (approximately 19 hectares) tomato farmland in Godagari, Rajshahi, Md Ifetkhar Ahmed, a nationally awarded farmer (2007), speaks on a frustrating note.While his initial harvests fetched a decent price, more than 60 per cent of his tomatoes still remain in fields unsold.Mr Ahmed cultivated the crop...
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