DHAKA: Commercial Bank of Kuwait, the Gulf state’s fifth largest lender by assets, said a majority of shareholders had approved a plan to convert the bank into a full-fledged Islamic lender.Kuwait state news agency KUNA reported last week, gulfnews.com publishes this report on

DHAKA: PRAN Dairy Limited and Land O’ Lakes Inc. signed a Memorandum of Understanding (MOU) to enhance Bangladesh’s dairy at the PRAN-RFL Group corporate headquarters last week.Under this project, Land O’ Lakes and PRAN Dairy will jointly invest six million US-dollars to increase

DHAKA: MasterCard has arranged “MasterCard South Asia Payments Round Table” at a hotel in Dhaka on Sunday.  Vicky Bindra, President, Asia Pacific and Ari Sarker, Division President, South Asia, MasterCard along with senior leaders of the South Asian Banking Industry attended the

DHAKA: A corporate deal has been signed between Bashundhara Cement and Bestec Constructions Limited with a view to using the cement in Bestec Constructions’ RMC plant.The agreement was signed at the conference room of Bashundhara Media House on Sunday noon.Bashundhara Group Managing

SAVAR, DHAKA: Workers of Adorn Knitwear Limited staged demonstration and laid a siege to the factory at Chowrongi Super Market of Savar Bazar, on outskirt of capital Dhaka, Sunday morning demanding payment of the due wages.Protesters and Industrial Police sources said workers came to the

DHAKA: Finance Minister Abul Maal Abdul Muhith said seven percent inflation will be projected in the budget for the upcoming 2014-15 fiscal year.He said, inflation rate was predicted 7.5 percent in current fiscal year. The trend is now down warding.We want to project 7 percent inflation

DHAKA: Investors witnessed sharp fall in the benchmark indices of the country’s bourses on Sunday.The DSE board index shed over 32 points to stand at 4,588 at the close on the first trading day of the week.Trade deals stood at 86,882 with transaction at Tk 4,613 million.    Of the

SYLHET: Finance Minister Abul Maal Abdul Muhith categorically said the volume of the next budget for coming fiscal year 2014-15 may decrease for adjusting deficit of revenue collection.He came up with the disclosure to the journalists while he was visiting the renovation work of Sylhet

DHAKA: The USDA Post says that Bangladesh rice imports are likely to decline sharply to around 100,000 tons in MY (Market Year) 2014-15 (May-April), down about 75% from an estimated 400,000 tons in MY 2013-14 due to higher than expected production.The Post has increased the projections

DHAKA: New Zealand dairy giant Fonterra has been fined $NZ300,000 ($256,675; £154,748) after it admitted four food-safety violations during a 2013 botulism scare.The scare led to a worldwide milk product recall and to several countries blocking imports of New Zealand dairy

DHAKA: ICDDRB and PRAN-RFL Group (Durable Plastics Ltd) have signed a memorandum of understanding Thursday to collaborate on a research project to assess the benefits of safe water use in improving street food safety in Dhaka city. Under the agreement PRAN-RFL, as the research and

DHAKA: The US trade deficit increased sharply in February as imports rose and exports fell amid signs of slowing growth in China and Europe’s tepid recovery.US official data showed on Thursday, reports The Straits Times.The nation’s trade gap in goods and services with the rest of the

DHAKA: Mazda Motor Corp is to recall about 88,000 vehicles globally to fix a programming glitch in its engine control computer.The Japanese automaker is recalling the Mazda3, Mazda6 and CX-5, manufactured between October 2012 and January 2014, spokeswoman Misato Kobayashi said, reports

DHAKA: The ten-nation Association of Southeast Asian Nations (ASEAN) officially formed its ‘Dhaka Committee’ to open a new dimension in building relationship with Bangladesh. Through a program joining by ministers, politicians, diplomats, businessmen, and officials of the foreign

DHAKA: Investors witnessed gain in the benchmark indices of the country’s bourses on Thursday.The key index of Dhaka Stock Exchange, DSEX, rose over 25 points to stand at 4,621 at the close on the last trading day of the week.Trade deals stood at 92,763with transaction at Tk 5,180

DHAKA: The global economy could be heading for years of "sub-par growth", according to the head of the International Monetary Fund (IMF).Christine Lagarde warned that without "brave action" the world could fall into a "low growth trap".She said the global economy would grow by more than

DHAKA: Bangladeshi expatriates sent Tk 1047.94 crore as remittance in the first nine months of fiscal year 2013-14.Sources from the Department of Foreign Currency Affairs of Bangladesh Bank (BB) made the disclosure on Wednesday.They also informed that the amount of remittance in March

DHAKA: South Asia needs up to US$2.5 trillion of investment in infrastructure by 2020 if the region is to make further gains in battling poverty and provide for its growing population.The World Bank said on Wednesday, reports The Straits Times.Despite boasting similar economic growth

DHAKA: Investors witnessed gain in the benchmark indices of the country’s bourses on Wednesday.The key index of Dhaka Stock Exchange, DSEX, rose over 68 points to stand at 4595 at the close on the fourth trading day of the week.Trade deals stood at 89873 with transaction at Tk 5003

DHAKA: Finance Minister AMA Muhith sought financial aid from World Bank (WB) to implement and assist the budget of the country.The finance minister made the plea when World Bank Vice President for South Asia Philippe Le Houerou met him at his secretariat office on Tuesday.In response to