Xinhua, Seoul : South Korea plans to unveil its three-year plan for economic innovation next month mentioned by President Park Geun-hye during her news conference on Monday, local media reported Tuesday. “As President Park said during the New Year’s speech, we will draw up the three-year economic innovation plan as soon as we can and unveil it by the end of February,” Yonhap news agency quoted Finance Minister Hyun Oh-seok as saying. Hyun added that the plan will especially deal...
Xinhua, Frankfurt : A survey released by a market research company Monday showed that the economic recovery in the eurozone accelerated at the end of 2013. The final euro zone Purchasing Manager Index (PMI) Composite Output Index rose to 52.1 in December from 51.7 in November, the second highest level during the past two and a half years, according to the survey result of Markit, a leading global financial information services company. It is a sign that the economic recovery...
AFP, Zurich : Switzerland’s central bank said Monday it lost billions in 2013 as gold prices plunged and therefore could not pay dividends to the Swiss cantons for the first time in more than a century. The Swiss National Bank (SNB) has been dishing out dividends to the Swiss cantons ever since its creation in 1907, and to the Swiss Confederation since 1991. But on Monday the bank said neither would receive handouts this year, after provisional figures showed it...
Xinhua, Hanoi : The signing of free trade agreements, which are expected to conclude in 2014, will contribute to boosting exports of Vietnamese commodities, said an official of Vietnam’s Ministry of Industry and Trade (MoIT). Tran Thanh Hai, deputy general director of Import-Export Agency under MoIT said on the website of the ministry Monday that trade cooperation documents including the Trans-Pacific Partnership (TPP), and free trade agreements (FTAs) between Vietnam and the European Union (EU), the European Free Trade Association...
By Doug Gross, CNN STORY HIGHLIGHTS Samsung says its Galaxy S5 phone will be released by April Vice...
The newly elected government of Prime Minister Sheikh Hasina has seemingly chosen its immediate task of fixing economy, which has become a major challenge due to political uncertainty.Some of the most senior cabinet members on their first working day made it clear that the government vowed to tackle violence and anarchy to ensure security so trade and business can go ahead unhindered.”The strike and blockade in the last two to three months, especially the terrorism before and after the national...
AP, Washington The global economy is slowly picking up steam, led by advanced economies appearing to turn the corner after five years of financial crises and recession and a continued good performance by China, the World Bank said Tuesday.However, it says growth prospects remain vulnerable to rising interest rates and potential volatility in capital flows as the U.S. Federal Reserve eases up on the extraordinary stimulus it has been providing to the U.S. economy, the world’s largest.The bank’s twice-yearly Global...
There is mounting criticism of the New Zealand government for getting a 60-seat boat built cheaply in Bangladesh instead of getting it locally.Radio New Zealand says the Ministry of Foreign Affairs and Trade (MFAT) commissioned the aid-funded ferry for $8 million from Bangladesh to replace a vessel linking the New Zealand territory of Tokelau to Samoa.The vessel sails every fortnight.Kim Campbell, chief executive of the Northern Employers and Manufacturers Association, believes the boat-building industry in New Zealand has not been...
Local Hajj agencies need not to take approval from Bangladesh Bank to send collateral money to Saudi agents for those going to Saudi Arabia to perform Umrah.Bangladesh Bank’s Foreign Exchange Policy Department informed various banks of its new policy on Monday.The Saudi embassy usually gives visa through a Hajj agency, and local agents deal with their associates in Saudi Arabia.The Saudi agents take 100,000 Saudi Riyal from Bangladeshi agents as collateral money to ensure people return home after performing Umrah.Earlier,...
Business Desk :The High Court has ordered chemical testing of all kinds of spices marketed by Pran Agro Ltd to...