Archive / Business - 2018
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Audit looms over Banglalink, AirtelWith audits into Grameenphone and Robi's books already complete, Bangladesh Telecommunication Regulatory Commission (BTRC) is on way to appointing firms to get the same done...Increase bank branches to reach out to poor: MuhithBanks should increase their number of branches to give a boost to financial inclusion, said Finance Minister AMA Muhith yesterday.All the banks together have less...Cotton prices stable despite trade warThe ongoing US-China trade war could not leave any negative impact on cotton prices, contrary to apprehensions that the increasing tariff measures would make the...Govt shelves plan of crop insuranceThe government will not go ahead to implement crop insurance owing to complexities relating to payment of premium and coordination with farmers, said a top...'Pay Eid bonus of workers by Aug 16'All industries including readymade garments factories will have to pay the Eid festival bonus to workers by August 16.The owners have also been asked to...China trade surplus with US easesChina’s trade surplus with the United States eased in July, when President Donald Trump imposed stiff tariffs on billions of dollars worth of Chinese goods...13 firms under DSE scannerThe Dhaka Stock Exchange has decided to come down hard on 13 companies which did not pay any dividend in the last five years.The companies...RESERVE HEIST: BB to file lawsuit in NY court by JanuaryThe central bank is going to file a damage claim with a New York court by January next year to recover its reserve money stolen...RMG MINIMUM WAGE: CPD proposes Tk 10,028The Centre for Policy Dialogue yesterday proposed a minimum monthly wage of Tk 10,028 for garment workers, in what can be deemed a reasonable middle...City Bank launches online supply finance chainCity Bank yesterday launched a digital “Supply Chain Finance and Distributor Finance Facility” through which suppliers will get paid whenever invoices are approved while buyers...Banglalink's first-half revenue lowest in 4.5yrsBanglalink logged in Tk 2,170 crore in revenue in the first half of 2018 -- the lowest in four and a half years -- as...Smartphone imports fall for the first timeSmartphone imports declined more than 9 percent year-on-year to 37.89 lakh units in the first half of the year on the back of a drastic...Solar-powered irrigation improves farmingThe solar irrigation system holds huge potential in Bangladesh and can provide sustainable solutions without requiring any fuel, reduce carbon emission and save millions in...PHP brings in Bangladesh's first green vessel to scrapPHP Family brought in the country's first green vessel—certified to contain no material hazardous to health—to scrap in its ship breaking yard in Sitakunda on...Green factories can give garment exporters another edge: BKMEAGreen industrialisation can play a vital role in garment exporters' competitiveness as the buyers are progressively being drawn to green factories for their commitment towards...China plans tariffs on USD 60 billion of US goods in latest trade salvoChina proposed retaliatory tariffs on USD 60 billion worth of US goods ranging from liquefied natural gas (LNG) to some aircraft on Friday, as a...ADB to give $357m to develop two power linesThe Asian Development Bank (ADB) has approved an assistance package of over $357 million for a project to develop two power lines to help Bangladesh...Monetary policy remains unchangedFear of inflationary pressure, rising commodity prices in the international market and the government's spending spree on mega projects have restrained the central bank from...Huawei's nova 3i hits marketChinese handset-maker Huawei launched its popular smartphone—Huawei nova 3i—at an event at the Pan Pacific Sonargaon in the capital yesterday.The device priced at Tk 28,990...How minimum should be the minimum wage of garment workers?The minimum wage board is working on a new minimum pay for garment workers.In a meeting few days ago, the representative of the garment factory...State banks' escalating bad loans a threat: BB reportThe rising default loans in the eight state banks, which accounts for 57.53 percent of the total classified loans in the banking sector, have become...Bank stocks dive 28.5pc in 7 monthsThe heavyweight banking sector saw a huge decline in its share price and market capitalisation this year due to investors' lack of confidence in banks.As...Five eminent persons get Mercantile Bank awardsFive personalities were honoured on Saturday with the Mercantile Bank Sommanona- 2018 awards for their outstanding contribution to the country in their respective fields.Commerce Minister...Curious logic of govt's costly borrowingThe cost of borrowing, be it for the government or businesses, is imperative: the lower the costs, the better.But for the Bangladesh government this fact...'Egypt wants to invest in Bangladesh’s power sector'Egypt is highly interested to invest in power sector and establish a cable factory in Bangladesh. Newly appointed Egyptian Ambassador to Bangladesh Walid Ahmed Shamseldin said...Vibrant bond market to beef up financial sector: analystsThe absence of a vibrant bond market is putting pressure on the country's financial sector as the business community largely depends on banks to get...Footwear piques Chinese firmsChinese companies are keen on exploring Bangladesh's leather and footwear market, seeking to draw investors and have a share of the flourishing sector.A total of...Transformation at the speed of thoughtBusiness leaders tend to be visionaries. They know where their businesses are going today, and they are supposed to know where they want to go...Cotton Day observed in DhakaThe Cotton USA organised a seminar and fashion show in Dhaka on Monday to celebrate the third edition of the Cotton Day.More than 100 spinning...No more extension for Accord, AllianceThe government will not extend the tenure of Accord and Alliance as the Remediation Coordination Cell (RCC) is capable of running inspection and monitoring of...Xiaomi enters BangladeshChinese smartphone maker Xiaomi yesterday officially announced its entrance to Bangladesh with a view to establishing a plant within the next couple of years.“Bangladesh is...GP profit rises 36pc in Apr-JunGrameenphone's net profit rose 36.3 percent year-on-year to Tk 1,080.44 crore in the April-June period, the highest in a single quarter in the operator's history,...Roadshows to draw foreign funds in hi-tech parksBangladesh Hi-Tech Park Authority is set to organise roadshows in different cities around the world from September to attract foreign investors, including non-resident Bangladeshis.The decision...Lift weight limit for vehiclesChittagong-based business leaders yesterday threatened to shut down the wholesale hub in Khatunganj and stop transporting goods if the weight limit on the vehicles plying...Too many offers baffle mobile usersThe telecom regulator has stepped in to protect customers by way of stopping mobile phone operators from confusing subscribers with hundreds of voice and data...Customers face disruption in few GP servicesCustomers have been facing disruption in accessing a few services of Grameenphone since last night.They could not activate services through My GP App, Flexi Plan,...Export stars to be awarded todayThe government will honour 63 companies today with export trophies for their extraordinary performance in fiscal 2014-15.The commerce ministry and the Export Promotion Bureau (EPB)...Innovative hiring pays offEvery year Unilever gets 1.8 million job applications from across the world, some 7,000 of them coming from one of the 190 countries the company...France keen to be part of Bangladesh developmentChief executives and representatives of different business entities, ministries and development agencies of France have applauded the impressive growth of Bangladesh and expressed their interest...PM offers 500 acres land in SEZs for Singapore investorsPrime Minister Sheikh Hasina on Tuesday offered the Singapore investors 500 acres of land in the Special Economic Zones (SEZs) for setting up industries.The prime...US company GE to invest 7.4 bn in BangladeshUS company General Electric (GE) on Wednesday signed two separate deals – one with state-owned PDB and another with Summit Group, a local business house...FTAs will steer the way in post-LDC eraThe government is working to sign both free trade agreements and preferential trade agreements with major trading partners to offset the probable bad impact on...Compliant firms to get rid of customs hasslesThe National Board of Revenue is set to offer compliant businesses the privilege to clear their imported and exported goods fast by awarding them the...ICB's investment capacity raisedThe central bank will not consider the Investment Corporation of Bangladesh (ICB) as a single party borrower of banks in a bid to increase the...Lowering lending rate overnight difficult: MuhithFinance Minister AMA Muhith yesterday said it is difficult to bring down the lending rate of banks to single-digit overnight.Muhith made the comment after a...Cuba reauthorizes private sector, yet with tighter controlsCuba on Tuesday reauthorized private businesses after a year-long freeze, but with tighter controls than before on a segment of the economy that now makes...Iran to sell oil despite US sanctionsIranian vice president Eshaq Jahangiri acknowledged on Tuesday that US sanctions would hurt the economy but promised to “sell as much oil as we can”...Weapons of trade war: What might China have up its sleeve?The first shots have been fired in a trade war between China and the United States that experts say could be damaging for the world...OPEC refutes Trump criticismThe president of OPEC defended the oil producer group on Monday against US president Donald Trump’s recent demands for higher oil output, saying OPEC does...China’s factory-gate prices upChina’s factory price inflation rose in June, the government said Tuesday, as a trade war threatens producers in both of the world’s top two economies.The...