At least 60 percent of people in developing countries lack effective safety net coverage as countries struggle to protect their most vulnerable citizens from the impacts of global financial crisis and food and fuel price hikes, the World Bank said yesterday.

Md Tabarak Hossain Bhuiyan was promoted as the deputy managing director of Prime Bank Ltd with effect from April 1, the bank said in a statement yesterday.

The 39th ATM Booth of Mercantile Bank Limited started its operation at Swadesh Tower, 41/6 Purana Paltan in the city recently.

The High Court Tuesday rejected a writ petition filed by Destiny Multipurpose Cooperative Society Ltd challenging a Bangladesh Bank (BB) report on illegal banking of the company, reports UNB.

TOKYO: Japan said on Tuesday it will provide $60 billion in loans to the International Monetary Fund, becoming the first non-European nation to commit money to boost the fund’s financial firepower to contain the euro zone debt crisis.

WASHINGTON: The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington's grip on the job and leaving developing countries frustrated with the selection process.

Bangladesh Bank is scheduled to complete today the process of distributing letters of intent (LOIs) to the newly approved six conventional private banks and three specialised banks for non-resident Bangladeshis.

Premier Bank declared 22 percent stock dividend for the year 2011 at the 13th Annual General Meeting (AGM) of the bank held at Bangabandhu International Conference Centre in the city on April 15. Dr. H. B. M. Iqbal, Chairman of the Board of Directors presided over the meeting.

Pubali Bank has brought its 310 branches under online network and plans to bring the remaining 100 branches under the network in phases, the bank said in a statement yesterday.

The International Monetary Fund yesterday raised its global growth forecast, with the US boosting the outlook but Asian emerging economies facing slower economic expansion.