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Kamal seeks more Korean investment in Bangladesh

BSS Finance Minister AHM Mustafa Kamal on August 20 urged the newly appointed Korean Ambassador to Bangladesh Lee Jang-Keun to play an important role in bringing more Korean investors to Bangladesh. The Finance Minister made the call during a virtual meeting with the Korean Ambassador, said a Finance Ministry press release. The

JPMorgan appoints former UK finance minister as adviser

LONDON, (AFP) US investment bank JPMorgan on Tuesday said it had appointed Britain’s former finance minister Sajid Javid as a paid senior adviser. Javid, who remains an MP in the ruling Conservative party after he resigned as Chancellor of the Exchequer in February, will join the bank’s advisory council for Europe,

Industries not to be set up at random, says BIDA

The National Steering Committee recently held discussion on Ease of Doing Business to take decision that industries should not be set up here and there, rather separate zones would be allocated for separate industries. This discussion came at a virtual National Steering Committee meeting on Ease of Doing Business organized by Bangladesh

Govt to procure 30,000 tonnes of urea fertilizer

BSS The Cabinet Committee on Government Purchase yesterday approved two proposals including one for procuring 30,000 metric tons of bagged granular urea fertilizer from Karnaphuli Fertilizer Company Limited (KAFCO), Bangladesh with a cost of around Taka 57.60 crore. The approval came from the 18th meeting of the Cabinet Committee on Government

Brazil economy minister hit by loss of 2 top deputies

RIO DE JANEIRO, AFP – Brazilian economy minister Paulo Guedes said Tuesday two of his top deputies had resigned in a “stampede,” news that could rattle market confidence in his reform agenda for Latin America’s biggest economy. Guedes, the powerful free-market guru to far-right President Jair Bolsonaro, is battling to steer

ADB, HSBC to finance $1.2b in trade to boost supplies

BSS The Asian Development Bank (ADB) and the HSBC have launched a programme to support up to $1.2 billion a year in trade by companies in Asia and the Pacific producing goods crucial to the ongoing fight against the coronavirus disease (COVID-19) pandemic. The targeted financing available through the new program

ADB expects Bangladesh’s GDP to grow by 7.5 in FY2021

The Asian Development Bank (ADB) said, it expects gross domestic product (GDP) of the country to grow by 4.5% in fiscal year 2020 and by 7.5% in 2021. ADB made this growth forecast in its latest report of Asian Development Outlook (ADO) 2020 Supplement on Thursday, reports UNB. For the effect of

Britain tells banks to prepare for pandemic debt pile

Huw Jones, Reuters (London) British banks need to accelerate preparations for dealing with businesses unable to repay money they borrowed to cope with the coronavirus pandemic, the national financial sector regulator said on Tuesday. Over 900,000 businesses have taken out state-backed loans worth around 38 billion pounds ($48 billion) under schemes

Nat’l Budget of FY 2020-21 at a brief look

The budget for the fiscal year 2020-21 has been presented amid the stagnation of country's economy due to the pandemic situation. The Finance Minister AHM Mustafa Kamal presented the budget proposal  on June 11. The minister presented the budget for FY2020-21  in a parliamentary session chaired by the Speaker Shirin Sharmin