Archive / Business - 2018
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China leads the venture capital race with US$93.8 bnChinese venture capital is playing an increasingly important role around the world, as the nation’s technology companies have been taking the lead on obtaining financing...Market expanding for rising incomesBangladesh has a market of Tk 20,000-Tk 30,000 crore of agro-processed foods and it is growing thanks to rising incomes, changing lifestyles and urbanisation, said...Dhaka stocks hit 21-month lowThe Dhaka stocks hit its 21-month low yesterday thanks to the thin participation of institutional investors who adopted a wait-and-see policy ahead of the upcoming...Improve ease of doing business for more FDIBangladesh should significantly improve on the “ease of doing business” index to attract more foreign direct investment (FDI) from the US, Marcia Bernicat, outgoing US...Rice yield to go upThe US Department of Agriculture (USDA) has revised its forecast on Bangladesh's rice production in the May-April period of 2018-19, saying it would increase to...Telcos reluctant to compensate for call dropsMobile phone operators gave back only a third of the minutes payable to users because of massive call drops in the year to September, highlighting...Set RMG minimum wage at Tk 12,020Industriall Bangladesh Council, a rights group, yesterday demanded the minimum wage for garment workers be set at Tk 12,020 a month.“We have earlier wanted the...Onion prices rising in IndiaWholesale onion prices have been rising in parts of India for the last two weeks because of falling supplies from producing states, a traders' body...Robi gains, GP losesRobi has pulled in 16,916 customers to its network from three rivals in the first three weeks after the mobile number portability was rolled out,...Stocks feeling the election nervesStock market investors are feeling jittery ahead of the national election scheduled for December, a worrying development.Even last month's disclosure of record GDP growth in...Economists sign declaration against Brazil frontrunnerMore than 350 economists -- among them a Nobel Prize winner -- have signed a declaration saying Brazil's frontrunner to be president, far-right politician Jair...Jobs for the differently abledSome 110 differently-abled persons yesterday got much-needed jobs at a career fair.The Bangladesh Business and Disability Network (BBDN), a platform of employers promoting inclusion of...Amend coastal shipping deal with IndiaLocal seagoing container shippers have urged both the Bangladeshi and Indian governments to allow them to carry goods of third countries for the sake of...Loan write-offs balloon in Q2Loans written off by banks soared in the second quarter of 2018 as efforts to clean up balance sheets petered out.Between the months of April...One-stop service for businesses by DecEntrepreneurs investing in the economic zones will get all types of trade and investment services from various government agencies within 45 working days of their...Rising disposable income boosts furniture industryThe local furniture industry has achieved a significant growth in the last one decade thanks to the rising spending capacity of the consumers.The industry insiders...Pineapple, aloe vera make it to export listLocally grown pineapples and aloe vera are exported abroad in processed form, ushering hopes that farmers would not suffer losses for production gluts, said three...Tk 3,528cr wiped off DSE in a weekDhaka Stock Exchange lost Tk 3,528.19 crore, or 0.90 percent, from its market capitalisation in the last seven working days as institutional investors preferred small-cap...Micro-merchants transact $18b a year: studyAbout 20 lakh people are involved in micro-merchant retail trade in Bangladesh, transacting more than $18.42 billion a year, according to a United Nations study.The...Go to the coast to reduce congestion in citiesBangladesh should use its vast coastal zones for economic development so that the population concentration on Dhaka and Chittagong comes down, said a top official...Develop standards for energy drinksThe National Board of Revenue yesterday requested the Bangladesh Standards and Testing Institution (BSTI) to develop standards for energy drinks and malt beverages to boost...Kar Bahadur title may goThe tax administrator plans to discontinue the Kar Bahadur title, a decoration that was introduced last year to honour long-time taxpaying families and to encourage...Election candidates will have to submit tax certificatesThe tax authority will make submission of income tax certificates mandatory for candidates running for elections in future, said National Board of Revenue Chairman Md...Submarine Cable Company records lowest profitBangladesh Submarine Cable Company Ltd's net profit sank 77 percent to Tk 7.33 crore in fiscal 2017-18 despite logging in record revenue thanks to repayment...State banks' bad loan recovery faltersFive state-run banks made half-hearted efforts in the first half of the year in recovering their non-performing loans, which account for 47 percent of the...Bangladesh to import 1.425m tonnes oil productsBangladesh Petroleum Corp (BPC) issued an international tender on Tuesday to import up to 1.425 million tonnes of refined oil products in the first half...Joint efforts to ease congestionThe customs authority plans to start working along with all stakeholders soon to ease congestion of vehicles at Benapole and Petrapole land ports.The decision for...Stocks plunge to 3.5-month low amid correctionThe benchmark index of Dhaka Stock Exchange (DSE) plunged to a three-and-a-half months low yesterday mainly because of a huge fall in prices of top...IDLC Finance's profit grows marginallyIDLC Finance's net profits grew just 1 percent to Tk 182.15 crore in the first nine months of the year thanks to interest rate volatility...Rescheduled loans jump in Q2Banks went on a loan rescheduling spree once again in the second quarter of 2018 after holding back in the first quarter.Between the months of...Asean's Dhaka committee members visit BIAC, ICCBThe members of the Dhaka committee of the Association of South East Asian Nations (Asean) yesterday visited the Bangladesh International Arbitration Centre (BIAC) and the...Now '013' too GPGrameenphone yesterday launched its new “013” number series as its existing “017” prefix has reached its 10 crore capacity.The rollout came through the first official...IPDC, Trust Bank cleared to issue bondsTrust Bank and IPDC Finance have recently attained the Bangladesh Securities and Exchange Commission's approval to issue bonds for raising capital.The bank will raise Tk...SDGs not possible without youth uplift: expertsThe Sustainable Development Goals will not be achieved without ensuring quality education and employment for the youth, experts said yesterday.There is no doubt that the...Walmart acquires online lingerie retailerWalmart Inc said on Friday it has acquired online lingerie retailer Bare Necessities for an undisclosed amount, its second apparel-focused acquisition in less than two...The art of managing corporate reputationIn today's world, corporate reputation management is one of the key business drivers for any organisation. No wonder managing reputation is taking the centre stage...Don't hire temporary employeesState-owned banks and financial institutions have been instructed not to recruit any more employees on a temporary basis.The finance ministry issued a circular recently asking...DataSoft spreads wings to NepalAfter winning contracts in Japan and Saudi Arabia DataSoft has now gotten a breakthrough in neighbouring Nepal, with the local tech giant set to provide...5th mobile assembly plant opens todayMobile handset assembling is set to expand further in the country as a fifth company is set to officially announce its enrolment today with its...FTA with Sri Lanka soon: TofailBangladesh expects to sign a free trade agreement with Sri Lanka during the tenure of the incumbent government as both countries have already completed looking...Tea prices rise on slow outputTea consumption will be costlier in Bangladesh as the price of the world's second most popular drink after water increased 31 percent in the local...Ecnec’s flurry of project approval continuesThe Ecnec yesterday approved 17 projects including one for land acquisition to elevate the Faridpur-Kuakata highway into a four lane one to establish smooth communication...AB Bank MD steps downAB Bank Managing Director Moshiur Rahman Chowdhury yesterday handed in his resignation 17 months into his three-year term at the helm of the first generation...Fat profits: Asian traders cash in as Europe thirsts for waste oilsOnce surreptitiously dumped down drains in the dead of night, Asia's used cooking oil is fast becoming one of the most sought-after commodities in Europe...China's ultra wealthy buffeted as trade war bitesChina's ultra wealthy saw their ranks thinned this year as the trade war with the US pummelled stocks and shredded billions of dollars of paper...Regulator to go tough on institutional investorsThe stockmarket regulator said it is going to change the definition of institutional investors so that they played their due role in the market instead...Integrated connectivity to bolster trade in South AsiaSouth Asia will be benefitted if seamless trade can be ensured, land ports are integrated and related rules are harmonised, said Gowher Rizvi, international affairs...Innovative entrepreneurs can create quality jobs: expertsBangladesh needs a lot of innovative entrepreneurs to create quality jobs, add value to the gross domestic product and help the country become a developed...China slashes US LPG imports amid trade warChina has choked back on imports of liquefied petroleum gas (LPG) from the United States, traders and analysts said, turning to the Middle East for...PM stresses proper use of maritime resourcesProper utilisation of maritime resources available in South Asia can help the region achieve tremendous success in socio-economic development of the people, Prime Minister Sheikh...