Business - NsNewsWire

Chevron’s Bangladesh exit plan likely to see setback as court orders

by Naim-Ul-Karim DHAKA, April 11 (Xinhua) — Amid growing apprehensions that the U.S. oil and gas giant Chevron may exit Bangladesh without sharing a due part of its profit with its employees, the country’s a High Court Division bench on Monday directed the government not to release the due funds of employers of Chevron Bangladesh […]

Myanmar strives to boost foreign investment in new fiscal year

YANGON, April 9 (Xinhua) — Myanmar’s new investment law, endorsed by the parliament in October 2016, has taken effect with its rules and regulations from April, the start of the new fiscal year 2017-18. The law, which was drafted in 2013 based on suggestions from experts and businessmen with the help of the International Finance […]

Norway to build world’s first ship tunnel

OSLO, April 9 (Xinhua) — Norway will build the world’s first ship tunnel on the Western Stad peninsula to facilitate freight and passenger ship navigation in avoiding a dangerous coastal area, according to the Norwegian Coastal Administration. The 1700-meter-long, 37-meter-wide and 26.5-meter-tall tunnel will pass through the narrowest part of the Stad Peninsula, allowing freight […]

Chinese companies come, hiring more locals in U.S.

BEIJING, April 9 (Xinhua) — Jesus Flores, 59, lives in the U.S. rust-belt town of Illinois. Eighteen years ago, just as he became a father, he lost his job. With the added burden of being responsible for a new life, Flores was beside himself with worry about how he would provide for his growing family. […]

aaa0409 Robi brings innovative mobile recharge campaign through MFS

DHAKA, April 9 (Xinhua) — Leading mobile phone operator, Robi has introduced an innovative recharge campaign for its users. Customers can now enjoy a bonus of 32 min and 32 MB data by recharging 32 taka through bKash &/ Rocket. The bonus offer will be valid for two days and can be used between 12 […]

Chinese gov’t cuts budget on overseas trips, vehicles, receptions

BEIJING, April 8 (Xinhua) — The central government has continued to cut its annual budget for overseas trips, vehicles and receptions this year. Central government departments will spend a maximum of 6.15 billion yuan (891 million U.S. dollars) on the “three public consumptions” in 2017, down 31 million yuan from 2016, according to the Ministry […]

World Bank Provides $507 Million Financing to Improve Infrastructures in Bangladesh

WASHINGTON, April 7 (NsNewsWire) — The World Bank has approved $507 million financing for two projects in Bangladesh to enhance the local financial institutions’ capacity to provide long-term financing for private sector-led infrastructure projects, and improve multimodal transport and trade logistics infrastructure and services, including modernizing of land ports. Built on the success of […]

U.S. firms keen to invest in China

SHANGHAI, April 7 (Xinhua) — After 20 years of doing business in China, U.S. medical technology firm Medtronic chose Shanghai as the site for its first bioprosthetic heart valve manufacturing site outside the America. “The manufacturing site represents… a positive collaboration between Medtronic and our local business partners to increase healthcare access,” said Omar Ishrak, […]

Huawei Spain launches fifth edition of its grant program for study in China

MADRID, April 7 (Xinhua) — Huawei Spain said in a communique Friday that it is launching the fifth edition of its grant program that gives Spanish students the opportunity to study in China. Fifteen university students who are in the second or third year of their studies in telecommunications, engineering or computer studies would be […]