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Japan exits recession as GDP grows 5.0% in Q3

TOKYO (AFP)  Photo: Collected/Business Today Japan’s economy exited recession in the third quarter, growing a better-than-expected 5.0 percent, government data showed Monday, following a record contraction. A rise in domestic demand as well as exports helped drive the quarter-on-quarter growth, after the coronavirus pandemic and a consumption tax hike slammed the

IFC helps businesses in poorest countries with $4b

Image: Collected The International Finance Corporation (IFC) has said it has so far extended USD 4 billion to private sector businesses in the poorest countries to help fight the coronavirus pandemic. The IFC, which is the largest global development institution focused on the private sector in emerging markets, in March committed

Kamal urges IFC support for private sector

BSS Mustafa Kamal/Photo: Collected Finance Minister AHM Mustafa Kamal has urged the International Finance Corporation (IFC) to develop Bangladesh’s fixed income securities, especially the bond market, side by side providing more support to the private sector being affected by the COVID-19 pandemic. He also called upon the IFC to enrich the ‘Taka Bond’

Coronavirus (Covid19) and the Banking Industry: Impact and Solutions

Leor Melamedov Photo: Collected Banks certainly have their hands full in light of the novel coronavirus outbreak (COVID-19). Borrowers and businesses face job losses, slowed sales, and declining profits as the virus continues to spread around the world. Banking customers are likely to start seeking financial relief, and federal bank regulators in the U.S. are encouraging banks to

New US jobless claims drop to 787,000 as stimulus talks stall

WASHINGTON (AFP) Photo: Collected New claims for US jobless benefits fell to 787,000 last week, the Labor Department said Thursday, as congressional negotiations over a new economic stimulus package lost momentum. The big improvement brought claims below 800,000 for the second time since the pandemic started, with new seasonally adjusted

RAKUB to help farmers’ recoup losses caused by Covid-19, flood

BSS Photo: IFAD Rajshahi Krishi Unnayan Bank (RAKUB) has been working relentlessly to recoup the existing losses being caused by the novel Coronavirus (Covid-19) and flood in the country’s northwest region. The specialized commercial bank has been providing loans to the potential and other worst affected agricultural sectors so that the borrowers can

BRAC organizes webinar to observe the International Day for the Eradication of Poverty

The International Day for the Eradication of Poverty is annually held worldwide. This year, to commemorate the day, the non-governmental development organisation BRAC has organised a webinar titled ‘Breaking the barriers of poverty: New priorities in poverty reduction in the backdrop of COVID-19’. The webinar’s main objective is to call attention to the initiatives that

Huawei Launches All-scenario Intelligent Connectivity Solutions

David Wang Recently, the UN Broadband Commission and Huawei held the sixth Ultra-Broadband Forum (UBBF 2020) online in Beijing. With the theme of ‘Intelligent Connectivity, New Value Together,’ this year’s UBBF discussed the challenges and opportunities facing the connectivity industry in the intelligent era. At the event, David Wang, Huawei Executive Director and Chairman of the