Archive / Business - 2018
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4,181 change operators in first week of launchOne week past mobile number portability being made available, 4,181 cellphone users have changed from one mobile operator to another while retaining their existing 11-digit...China's credit loosening may not do much for commodity demandChina's commodity imports may get a shot in the arm from Beijing's decision to ease credit conditions in the world's second-largest economy, but it may...London court blocks Google mass legal action over iPhone data collectionLondon's High Court on Monday blocked an attempt to bring legal action against Alphabet Inc's Google over claims it had collected sensitive data from 4...Scant rains to dent India's cotton output, exportsIndia's cotton production in 2018/19 is likely to fall 4.7 percent from the previous season to 34.8 million bales, as scant rainfall and an attack...Post-Brexit Britain welcome to join Pacific trade pact: Japan PMJapan would welcome Britain to the Pacific trade deal "with open arms" after Brexit, Prime Minister Shinzo Abe has said in an interview published on...Bhaluka's pangas farmers struggling to stay afloatBabul Munshi has been commercially cultivating some local fish species, mostly pangas, in Bhaluka of Mymensingh for the past 11 years taking a Tk 2...Stockmarket can meet financing needsThe stockmarket can play an important role to meet the investment needs of the public and private sectors and turn the country into a developed...Deal this month to let India use Ctg, Mongla portsDhaka and New Delhi are going to sign an agreement this month allowing India to use the Chittagong and Mongla ports to transport cargoes to...BB steps up dollar salesThe central bank has stepped up its dollar sales once again this month to stem the depreciation of the local currency against the greenback.In the...RMG's woes: long work hoursThe garment sector's main challenge now is the long work hours that result from weak supply chain, poor infrastructure, insufficient utility services and high migration...Bangladesh loses Tk 7,000cr a year for breach of IP rightsBangladesh is losing a huge amount of revenue due to the infringement of intellectual property rights (IPR) in economic activities, analysts said yesterday.The IPR allows...Tea workers' wage hiked by 20pcThe wages of tea workers have been increased by 20 percent to Tk 102 per day and Tk 714 per week with retrospective effect from...Bangladeshi RMG getting popular for trade war: surveyBangladesh is becoming a more popular apparel sourcing destination for Western retailers thanks to the ongoing US-China trade war, said a latest survey by the...Bangladesh Bank funds sought for safe rural transportBangladesh Bank should create a special fund to provide low-cost loans to rural people to help them buy modern vehicles to cut road accidents and...ICT sector fails to attract investment: ministerBangladesh is failing to attract foreign investment, particularly from European countries, because of a lack of policies and regulations to ensure data security, ICT and...Private credit growth hits 31-month lowPrivate sector credit growth hit a 31-month low of 14.95 percent in August as investors shy away from business expansion due to the upcoming national...Too many compliance reports raise costs for banks: paperCommercial banks have to submit scores of reports on compliance -- on average 263 a year -- to the central bank, which a new paper...Bangladesh seeks revival of silk industryBangladesh's silk industry is one of the oldest in the world, with farmers in the northwestern border district of Rajshahi producing some of the most...Buy handsets with easeThe telecom regulator has finalised a directive that will soon allow those with no credit card to enjoy equal monthly instalment facility to purchase high-end...Bangladesh to be 26th largest economyBangladesh is likely to be the biggest mover in the global gross domestic product rankings in 2030, becoming the 26th largest economy in the world...Banks' capital base weakens furtherThe banking sector's capital base weakened further in the second quarter this year on the back of deteriorating asset quality of banks, as per the...Focus more on manufacturing to create jobs: analystsThe government should focus more on the manufacturing sector in order to create more jobs and reduce poverty faster, analysts said yesterday.Bangladesh's economy is dominated...S Alam now sets sights on insurersAfter taking over a number of banks and financial institutions in the past few years, Chattogram-based S Alam Group has now set its sights on...Raise RMG basic pay by 70pcUnion leaders yesterday urged the government to revise a recently announced hike in garment workers' basic pay from 32 percent to 70 percent.This will raise...Junk stocks still rising despite DSE cautionPrices of junk stocks are still rising despite Dhaka bourse's several attempts to discourage investors to pour money into the shares which may get delisted...One-third population financially excludedOne-third of the population in Bangladesh is still financially excluded because of the high cost of financial transaction and poor regulations, experts said yesterday.Other major...Bangladesh lags behind peers in internet usageBangladesh is still lagging behind its peers in Asia when it comes to internet usage and its awareness, found a recent survey.Only 33 percent of...EBL, Summit strike interest rate swap dealEastern Bank has struck an interest rate swap deal with Summit Group, a first-of-its-kind agreement for a local bank.An interest rate swap is a contract...Home textile exporters in a tight cornerAt a time when home textiles, especially terry towels, promise both enhanced earnings and diversity to Bangladesh's export basket, many mills are shutting down unable...Foreign funds rise in stocksNet foreign investment in the premier bourse returned to the positive territory after five months as foreign investors' purchase soared slightly in September as they...Toru to help budding entrepreneurs flourishToru Institute of Inclusive Innovation, a startup incubator, yesterday launched a programme to facilitate budding entrepreneurs to realise their innovative ideas.Called the Impactor programme, it...Carbon tax may yield Tk 4,300cr a year: PRICarbon tax would facilitate reduction in emission of environment-polluting greenhouse gas and allow the state to earn revenue, said the Policy Research Institute (PRI) of...Call for unity after Johnson attacks PM’s Brexit strategyAfter former colleague Boris Johnson hijacked the opening of the Conservative Party’s annual conference with another attack on the government’s Brexit plan, British Prime Minister...Banks' board meetings should discuss scheduled issues only: BBBangladesh Bank yesterday asked banks' directors not to take decisions in the board meetings on topics not included in the agenda of the day.If unscheduled...US, Canada hold last-minute trade talks as deadline loomsCanadian and American negotiators were holding last-minute talks on Sunday aimed at overhauling the North American Free Trade Agreement ahead of a midnight deadline imposed...Musk to resign as Tesla chairmanTesla Inc and Elon Musk have agreed to pay $20 million each to financial regulators and the billionaire will step down as the company's chairman...Dhaka Bank offers EMV contactless cardsDhaka Bank has recently launched a range of EMV contactless cards with Visa.“On contactless platform, the bank brings Visa Signature, Platinum and Gold Credit Cards...Import tariffs on LNG to goThe National Board of Revenue is going to waive import tariffs on liquefied natural gas (LNG) to enable industries to bring down their costs, said...Switch to any operatorCustomers can now switch to any operator without changing their existing 11-digit mobile phone number as the country is set to introduce the much-awaited mobile...Political uncertainty led to market fallBrokers and merchant bankers yesterday blamed fears over political uncertainty centring the upcoming parliamentary elections as the main reason behind the recent stock market fall...Tea plantation can help cut poverty in north: expertsSmall scale tea plantations can help eradicate poverty in northern Bangladesh and create a sustainable avenue for income generation for the poor, said speakers at...Google launches app-based job marketplaceKormo, an experimental job marketplace of Google, was officially launched in Bangladesh yesterday with the view of helping people in the informal sector, either unemployed...Oil import bill to soar this yearThe government's oil import bill is set to jump 36 percent this fiscal year thanks to the appreciation of the dollar and an increase in...Banks' profit rises 20pcBanks' net profit soared 19.55 percent in the first six months of the year, compared to the same period a year ago, propelled by impressive...Sponsors of Padma Islami Life Ins to sell ownershipThe sponsors of Padma Islami Life Insurance listed on both Dhaka and Chittagong stock exchanges yesterday announced to sell their entire holdings in the company.The...Bangladeshi traders stop fish export to TripuraFish supply from Bangladesh to Tripura has been affected with traders from the neighbouring country stopping export to the north eastern Indian state after Indian...Singapore firm invests $15m in ShohozOnline ride-hailing and ticketing platform Shohoz yesterday announced it has raised $15 million from Golden Gate Ventures of Singapore to expand its business.However, both Shohoz...Trade row: China says US putting 'knife to its neck'A senior Chinese official said on Tuesday it is difficult to proceed with trade talks with the United States while Washington is putting “a knife...Most advanced data centre set for test runA test run of Bangladesh's first Tier 4 national data centre, comprising the most advanced technology in use around the world, will begin in the...Accord, Alliance brought dramatic changes: BernicatWorkplace safety in Bangladesh's garment sector has witnessed a dramatic transformation due to inspection and remediation by two foreign agencies, the Accord and the Alliance,...