World Bank approves $150m for Morocco

The World Bank announced that it had approved a $ 150 million financing to support small businesses in Morocco and improve social programs in the country of North Africa . The funds, approved on Friday, will help the government to "modernize its national identification system and provide funding to promote innovative start-ups and job creation," […]

Read More →
Volkswagen pleads guilty in US court in diesel emissions scandal

Volkswagen AG pleaded guilty on Friday to fraud, obstruction of justice and falsifying statements as part of a $4.3 billion settlement reached with the US Justice Department in January over the automaker’s diesel emissions scandal. It was the first time the company has pleaded guilty to criminal conduct in any court in the world, a […]

Read More →
Rain brings smile to tea planters in Sylhet region

The strong rain Thursday came as a boost for the tea gardens at Sylhet as the shower could help owners avoid the drop in production normally caused by drought at this time of year. "The rain has been very beneficial for us," said Iftekher Enam, director of Chatlapur Tea Estate in Kulaura in Moulvibazar. He […]

Read More →
Tourists help Cyprus economy keep growing

The economy of the Eurozone charter member Cyprus grew for an eighth consecutive quarter, aided by the record number of tourists flocking to the Mediterranean island, official figures showed Friday . Gross Domestic Product (GDP) grew by 0.7% in the fourth quarter of 2016, maintaining the growth rate observed over the previous three months, the […]

Read More →
Some Indian banks risk skipping coupon payments: Fitch

Some Indian banks are at risk of skipping coupon payments on their capital instruments despite recent easing of rules by the central bank and capital injection by the government into state-run lenders, Fitch Ratings said on Thursday. Mid-sized banks are the most at risk of breaching capital triggers, the agency said. A Fitch analysis showed […]

Read More →
Alibaba seeks $5b loan amid tech financing rush

Chinese e-commerce giant Alibaba Group Holding Ltd. is in talks with banks to raise $ 5 billion in new financing, sources told Thomson Reuters Basis Point, amid a wave of collection Of funds by Chinese technology giants. Alibaba seeks to raise offshore funds via a bullet loan with a maturity of five years, in order […]

Read More →
3 state banks to raise Tk 4,100cr in bonds

Three state banks will issue different types of bonds worth 4 100 crore Tk to deal with a huge capital shortage. The Central Bank has already given its primary consent to Bank BASIC, Bank Janata and Bank Rupali with certain conditions, in order to help them improve their financial health. BASIC Bank will issue cashless […]

Read More →
Airtel users facing network disruption in Dhaka

A large number of Airtel subscribers in Dhaka were facing network interruptions today due to network integration and upgradation. Customers may have faced some interruptions in using the Airtel network due to the ongoing network integration and upgradation process, said a press release floated to media this evening. “We humbly regret this temporary inconvenience,” said […]

Read More →
Sri Lanka to scale back port deal with China

Sri Lanka has terminated a profitable but controversial deal to sell a deep sea port to a Chinese company after numerous demonstrations, said Thursday the Portuguese minister. Arjuna Ranatunga said the government was renegotiating the sale of the port of Hambantota charged with debts, but strategically located. He had hoped to transfer an 80 percent […]

Read More →
Bangladesh needs agro-commodity value chain: analysts

The country should develop a value chain for agricultural and commodities sectors to link growers and producers with processors and markets as well as add value to products, according to speakers. They said the private sector has to come forward to help the country build the value chain to have a meaningful impact. They made […]

Read More →