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India asks UN group to vacate rent-free office

India's new Hindu nationalist government has asked a U.N. body overseeing military activity in the troubled Kashmir region to vacate a government bungalow in the middle of the capital that is has been using rent-free for 40 years. indiaIndia claims Kashmir in its entirety and discourages any intervention or criticism in its dispute with Pakistan over the region. It has fought two wars with Pakistan over Kashmir, part of which is under Islamabad's control. A UN official confirmed Friday that the UN Military Observer Group in India and Pakistan has been aske...

Saudi Fund for Dev approves $ 50m for Teesta bridge

The Saudi Fund for Development (SFD), a Saudi government agency that channels bilateral aid to developing countries through grants and soft loans, has approved US$ 50 million for the construction of a bridge over the Teesta River , and it is likely to provide more funds for a couple of big projects in Bangladesh, said an official. suady fundThe Board of Directors of the SFD approved the US$ 50 million fund in June this year for a PC Girder Bridge over the Teesta River and a four-member Bangladesh delegation leaves here for Saudi Arabia on Saturday t...

Untapped opportunity in Bangladesh construction sector

UK Trade & Industry (UKTI) has identified an untapped opportunity in Bangladesh for the construction sector. handshakeIt said that a company that is a household name in Bangladesh and is a conglomerate worth £38m wants to expand its construction division and form a joint venture with a company in the UK. The company is particularly interested in precast buildings that can be produced locally. UKTI said that the company thinks that precast buildings that require considerably less time to build than conventional structures will have strong demand...

Exports edge up 11.65pc, fetch $30.17b in FY 14

Exports in the just-concluded fiscal year (FY) of 2013-14 fetched $30.17 billion. The amount reflected an 11.65 per cent growth over the previous fiscal due to increased shipments of apparel products despite having some odds like political turmoil and tragic factory incidents. However, the overall export receipts fell short of target by 1.06 per cent set for the July-June period of FY 2013-14, according to official data released Thursday, reports the Financial Expres. export-importThe single month earnings in June, 2014 reached...

Forex reserves crosses $21b again

Forex-res1Kazi Saidur Rahman, General Manager of Bangladesh Bank Forex Reserve and Treasury Management Department said, the reserves stood at $21.12 billion on Thursday. According to the central bank, the reserves earlier exceeded $21 billion on June 16 but depleted following payment of $970 million import bills to the Asian Clearing Union (ACU) on July 6. Rahman attributed the rise in forex reserves to ‘the positive trend’ in remittance inflow and export earnings, and disbursement of foreign loans to local organisations. He said Bangladesh co...

Shwapno revamps Malibag outlet in city

The largest retail chain superstore Shwapno has recently started its  journey by expanding their store located at Malibagh, Dhaka.Residents of Shantibagh, Sobujbagh, Shahidbagh, Gulbagh, Rajarbagh, Momenbagh, Shiddhesshori and Chamelibagh will be able to purchase their necessary grocery items along with furniture and lifestyle products. Malibag relaunchingThe extended Malibagh outlet has been inaugurated by Mr. Sabbir Hasan Nasir, Executive Director, ACI Logistics Ltd. The volume of this refurbished outlet is 9,500 squ...
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