Archive / Business - 2018
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Invest more in BangladeshPrime Minister Sheikh Hasina on Monday urged the US businessmen to invest more in Bangladesh as the country's strategic location is making it an emerging...Chinese investors keen on power sectorChinese investors are keen to park their funds in Bangladesh's power sector as there is a huge room for investment, said a top diplomat.“The Chinese...Microsoft, Amazon, Google join fight to prevent famineTech giants Microsoft, Amazon and Google are joining forces with international organizations to help identify and head off famines in developing nations using data analysis...Comprehensive Economic Partnership Agreement to top agendaDhaka and New Delhi will look to heighten the possibility of signing the Comprehensive Economic Partnership Agreement (CEPA) between the two countries during Indian commerce...Banks' deposit base expands slightlyBanks' aggressive drive for funds has finally pushed up the deposit growth, easing the cash crunch that has crippled the banking sector in recent months.Yet,...Edible oil prices dropEdible oil prices have fallen in the local market on the back of a price slump fuelled by higher global production and the US-China trade...Use software to keep accountsIn a bid to automate the value-added tax system, the revenue authority has ordered businesses clocking more than Tk 5 crore in annual turnover to...Stocks fall sharply on political worriesDhaka Stock Exchange yesterday saw its biggest single-day fall in over two and a half months fearing political uncertainty in the run-up to the national...Rebrand to Superbrand-Meet theBrandmakersbehindRising from the ashes and evolving as a phoenix, that’s the story of IPDC Finance. It was a just a few years ago, under the...JV to invest Tk 500cr in steel plantJapan's Nippon Steel has formed a joint venture company with Bangladesh's McDonald Steel Building Products Ltd to set up an import substitute plant in the...Indian fabric makers eye BangladeshIndian manufacturers look to capture a bigger share of the fabric market in Bangladesh as the country has already shown its strength in the global...Thai Lion Air enters Dhaka next monthThai Lion Air, a low-cost private airline of Thailand, yesterday announced to start flights from Dhaka from the beginning of next month.Tune Aviation, the general...Seven banks in 'red zone'The central bank is concerned about seven banks, including three state-run lenders, for their deteriorating financial health stemming largely from rising default loans and declining...Indian traders halt exports through Benapole portIndian traders have suspended exporting goods through Benapole Land Port from Saturday morning alleging that Bangladeshi handlers have been charging 'extra money' for unloading goods...HSBC to honour top exporters tomorrowHSBC Bangladesh will recognise a number of exporters tomorrow for their outstanding contribution towards sustainable growth of the economy.The eighth edition of the HSBC Export...Start taxing fossil fuels, industrial pollutionTaxing fossil fuel use alongside air and water pollution by industries can reduce consumption of the natural resources while generating additional revenue, speakers said yesterday.It...Norfund to buy 10pc stake in MTBNorfund, owned by the Norwegian government, has reached an agreement to buy 10 percent equity shares in Mutual Trust Bank at more than Tk 173...Four firms deposit Tk 100cr as fees for tower licencesFour companies selected to be awarded with telecom tower licences handed over a total of Tk 100 crore as fees along with bank guarantees worth...More licences soon for int'l call routingThe government has taken an initiative to award more licences for international voice call routing business just before the 11th general election and is scheduled...Board, workers at loggerheadsUnion leaders and members of a government-formed board which declared Tk 8,000 as the minimum monthly wage for garment workers are at loggerheads over the...The case for environmental fiscal reforms in BangladeshThe 2041 Perspective Plan seeks to transform Bangladesh from lower middle income to an upper middle income country by 2031 and eventually to a high...Lal Teer develops hybrid onion seedLal Teer Seed Ltd has developed a hybrid onion seed with potential to boost production, cut import reliance drastically and meet local consumption, said the...Loans for farmers to be cheaperThe central bank has moved to slash the lending rate on farm loans by one percentage point to 8 percent as most banks have cut...GDP growth reaches 7.86pc in final countBangladesh's economy grew 7.86 percent last fiscal year riding on the agriculture sector, especially an increase in rice production, as the government unveiled the final...EU business group laments China's 'reform deficit'Foreign companies cannot compete on a level playing field in China because the world's second-largest economy is stuck in a "reform deficit", a European business...10 firms to invest $220m in two yearsTen local and foreign companies will invest about $220 million in Bangabandhu Hi-Tech City at Gazipur's Kaliakoir within a year, leading to the creation of...US law firms to advise BB on damage claimUS law firms will provide reports to Bangladesh Bank in the next three weeks on the basis of which the central bank will file a...India to merge three state-owned banksIndia plans to merge three state-run banks, Bank of Baroda, Dena Bank and Vijaya Bank, the financial services secretary said on Monday, as part of...Measure development by wellbeing, not numbersBangladesh has made considerable progress in terms of economic development, catching attention of many global thinkers, said Prof Jomo Kwame Sundaram, a member of the...IFC ready to lend $1b a yearThe International Finance Corporation (IFC), a member of the World Bank Group, is ready to lend Bangladesh $1 billion a year to meet its long-term...Explore more of AsiaBangladeshi exporters, especially entrepreneurs in garment manufacturing, need to explore more Asian markets alongside traditional European and North American ones to prop up earnings, Atiur...Credit for 7pc growth goes to political stabilityPolitical stability and growing maturity of democratic institutions have helped Bangladesh's economy achieve more than 7 percent growth, said Gowher Rizvi, prime minister's international affairs...Trade deficit rises 12pc in JulyTrade deficit jumped 12.14 percent in July in continuation of the trend seen throughout last fiscal year on the back of higher import payments against...Bangladesh demands better prices for garment itemsBangladesh sought better prices for its export items, especially garments, from the US retailers and brands in the fourth round of Ticfa meeting held in...DBBL awards scholarships to 3,031 studentsDutch-Bangla Bank Ltd (DBBL) yesterday awarded scholarships to 3,031 meritorious and unprivileged students who passed SSC and equivalent examinations this year and are now studying...Go for rooftop solar panels to raise power outputFactories should make the best use of their rooftops by installing solar panels to get power for their own consumption and for the national grid,...State sugar mills seek ways to clear stockState-run Bangladesh Sugar and Food Industries Corporation (BSFIC) has urged the government to increase import duty on the sweetener to curb import and clear its...ADP spending slower than last yearThe annual development programme (ADP) is still dogged by the perennial syndrome of low implementation despite the government's various steps to speed up execution.According to...Govt plans long-term tax policiesThe government will frame long-term tax policies to help businesses get rid of the anxieties stemmed from the frequent changes to tax structures brought in...Bangladesh seeks more access to American marketBangladesh and the United States Trade and Investment Cooperation Forum Agreement (TICFA) Council held its fourth meeting to promote expanded bilateral trade and investment in...Tax receipts rise, but growth slowsTax receipts rose 4.86 percent year-on-year to Tk 13,867 crore in July this year, although the collection growth slowed down significantly because of a slump...US-China trade war threatens emerging markets, says IMF chiefThe intensifying trade war between China and the United States could “shock” emerging markets that are already in danger, the head of the International Monetary...US invites China for trade talks againThe Trump administration has invited Chinese officials to restart trade talks, the White House’s top economic adviser said on Wednesday, as Washington prepares to escalate...BB issues guideline on unclaimed depositsThe central bank yesterday said unclaimed bank deposits would be transferred to the government account if no demand is received for refund of the inoperative...China to lend more this year: envoyChina will lend more to Bangladesh this year than in the previous year to help improve its infrastructure, the envoy of the Asian economic powerhouse...13 banks face Tk 10,971cr provision deficitThirteen banks faced a combined provisioning shortfall of Tk 10,971 crore in the second quarter of 2018 which not only exposed their worsening financial health...Banking loopholes limit potential of stockmarketBangladesh's stockmarket is being held back from reaching its potential because of the indiscipline in the banking sector, which has spoiled companies' attitude, said M...Keep spending on skills development: expertsAdequate and constant investment in human capital and skills development are the essentials to preparing the next generation for uncertainties of the future job market,...ADB lending to cross $2b this yearAsian Development Bank's lending to Bangladesh is likely to exceed $2 billion this year, said a top official yesterday.The ADB has already approved over $1.6...Source tax on export proceeds brought downThe National Board of Revenue (NBR) has reduced withholding tax on the total proceeds from exports for all items to 0.6 percent in the face...