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GSP not reinstated for compliance failure: Gauhar

Prime minister’s foreign affairs adviser Gauhar Rizvi said on Monday the Generalized System of Preferences, popularly known as GSP, was not reinstated due to the failure on the part of Bangladesh to meet conditions set by the US. gauhar RizveHe said this while speaking at a seminar on foreign affairs at the national defense college at Mirpur in the capital. The Bangladesh Institute of International Strategic Studies and the Bangladesh Enterprise Institute jointly organized the seminar. Gauhar said, “We have to fulfil the promises we gave...

BB plans $2-bln funding for infrastructure

Bangladesh Bank said recently that it planned to provide funds of $2 billion to develop the country’s infrastructure, in hopes of spurring economic growth. Poor infrastructure is often cited as one of the major hindrances to growth in the South Asian bbcountry. “We may provide up to $2 billion from our $26 billion foreign-exchange reserve to the proposed sovereign wealth fund to develop infrastructure facilities across the country,” said Atiur Rahman, the governor of Bangladesh Bank. Bangladesh’s foreign exchange reserves hit a record $26.06 billion on Mond...

Govt to approve proposal for new road to Myanmar

Bangladesh’s economic policy-making body is all set to approve a proposal for constructing a new road to Myanmar, aimed at boosting bilateral trade, an official said Monday. A Planning Ministry official who did not like to be named said the Executive Committee of the National Economic Council will likely approve the proposal on Tuesday in a meeting with BD-MyanmarPrime Minister Sheikh Hasina in the chair, reports Xinhua. The 540 million taka (about 7 million US dollars) proposed new road will pass through Bangladesh’s two southeastern hilly dist...

Bangladeshi family enjoys Gladstone life

MD ARIFUL Islam and his wife Summiyah Afrose Mumira came to Gladstone four months ago for work. While Md works as a chief engineer, his lovely wife is looking after their six-month-old Rumysa. “We have found a lot of Bangladeshi people here,” said Summiyah. BD Family“There are lots of small communities here, in Bangladesh there is so many many people.” Summiyah is studying a diploma of childcare, and hopes to work in the field when she is finished. The couple came to Australia in 2013, where Md studied in Tasmania before a brief stint in...

IBBL Shari`ah Supervisory Meet held

A meeting of the Shari`ah Supervisory Committee of Islami Bank Bangladesh Limited was held on August 24, 2015, Monday at Islami Bank Tower. Sheikh Moulana Mohammad Qutubuddin, Chairman of the Committee and President of Baitush Sharaf Anjuman-E-Ittehad Bangladesh presided over the meeting. [caption id="attachment_19182" align="alignright" width="540"]DSC_00 A meeting of Shari`ah Supervisory Committee of Islami Bank Bangladesh Limited was held on August 24, 2015 with Sheikh Moulana Mohammad Qutubuddin, Chairman of the Committee & President of Baitush Sharaf Anjuma...

Axiata sees PATAMI up 34.2pc YoY

Axiata Group Berhad (Axiata) recently announced its unaudited results for the second quarter of 2015. The Group saw improved performance amidst heightened competitive pressures and maturing markets. Year-to-date (YTD) revenue for the Group was up 2.3% to RM9.5 billion from RM9.2 billion a year ago. The Group recorded earnings before interest, tax, depreciation and amortization (EBITDA) of RM3.5 billion, tapering slightly from a year ago due to marginal increase in operating costs. Group profit after tax (PAT) improved 2.8% YTD to RM1.2 billion from RM1.1 billion previously. Profit after taxation and minority interests (PATAMI) gained 34.2% year-on-year (YoY) to RM611 million with YTD growth of 5.8% to RM1.2 billion following
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