Archive / Business - 2019
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DSE profits contract as investors fleeDhaka Stock Exchange’s profits dropped 6.70 percent year-on-year to Tk 97.4 crore in fiscal 2018-19 as a narrow product range and lacklustre stock market ward...Lengthy auction process costs govt croresUnclaimed goods worth crores of taka rot away every year at the Chattogram port for the customs authority’s lengthy auction process that takes six to...8 digital startups get Tk 3crEight startups recently got about Tk 3 crore in funding, in the form of both investment in return for partial ownership alongside grants, through a...Govt’s solid plan for single-digit interest rateBangladesh Bank is set to raise the loan-deposit ratio by another 1 percentage point as it looks to reduce the interest rate for manufacturing sector...Loan write-offs rocketLoans written off by banks escalated 42.66 percent year-on-year to Tk 1,640 crore in the first nine months of the year as lenders, awash with...Real estate sector bounces backThings are finally looking up for realtors in 2020 after a bumpy last few years thanks to government support to public servants for housing loans...Facebook can be effective tool for brandingSocial media platforms, especially Facebook, can play a significant role in developing of building businesses in Bangladesh if entrepreneurs can use them properly, experts and...Japan’s output, retail sales fall, signalling economic strainsJapan’s industrial output slipped for the second straight month in November, raising the likelihood the economy will contract in the fourth quarter due to slowing...People’s participation in public service delivery key to attaining SDGsEnhancing accountability and widening space for citizen’s participation in the delivery process of public services are vital to realise the Sustainable Development Goals in Bangladesh,...New top brass for ICABMuhammad Farooq was elected president of the Institute of Chartered Accountants of Bangladesh (ICAB) yesterday.Farooq is currently the managing partner of Howladar Yunus & Co,...Panchagarh all set to see record high tea productionTea growers in the district expect the highest-ever tea production of 1 crore kilograms (10,000 tonnes) this year against last year's 81 lakh kg, thanks...Resilient supply chain needed to cut economic losses from disastersBangladesh needs to put in place a supply chain that is resilient to natural calamities and the impacts of climate change in order to cut...Bike, AC, compressor makers get tax benefits till 2032The National Board of Revenue (NBR) has extended the reduced tax benefit to the manufacturers of motorcycle, air conditioner and compressors to June 2032 although...Sustainability practices offer $51b business opportunitiesSustainable businesses can unlock new market opportunities worth $51 billion in Bangladesh and $5 trillion in Asia by 2030, according to the Global Reporting Initiative’s...Time to formalise informal e-waste management in BangladeshWith 4-5 percent annual growth, the global electrical and electronic waste (e-waste) reached up to 44.7 million tonnes in 2016, of which 20 percent, or...Stocks nosedive to three and a half-years lowDhaka stocks suffered a huge fall yesterday as skittish foreign investors went for selloffs fearing currency devaluation amid policy uncertainty and year-end portfolio adjustments by...REHAB fair begins Dec 24A five-day REHAB Winter Fair 2019 is set to begin in Dhaka on December 24 to showcase flats, plots and other real estate and housing...US top trade negotiator praises deal, China remains cautiousUS President Donald Trump’s top trade negotiator praised a “phase one” US-China trade deal which is expected to nearly double US exports to China over...Middle Eastern suppliers eye BangladeshMiddle East-based cement raw materials exporters are keen to expand their sales in Bangladesh as the country is increasingly scaling up its manufacturing capacity to...E-commerce sales to reach $3b in 4 yearsBangladesh’s e-commerce market stands at $1.6 billion currently and will double to $3 billion by 2023 on the back of a digital foundation laid down...US-China trade deal gets tepid receptionUS officials announced a truce in the trade war with China with much fanfare, but economists and trade experts call it largely a victory for...Telecom sector’s revenue to cross $5b by 2023The telecommunication industry’s revenue will grow by 34 percent in the next five years to $5.08 billion from $3.8 billion at present, on the back...$20M LAUNDERED ABROAD: AB Bank sues 15, including former chairman, 2 MDsAB Bank has filed a case against 15 persons, including a former chairman and two managing directors, over their alleged involvement in laundering $20 million...Reconditioned car importers in trouble as sales dropReconditioned car importers are in deep trouble as their sales dropped drastically in the first five months of the fiscal year because of a faulty...Shipping industry sails into the unknown with new pollution rulesFaced with imminent new global marine pollution rules, shipping companies and insurers are puzzling over the risks.To reduce emissions of toxic sulphur that cause premature...Why Saudi is listing its crown jewelSaudi oil giant Aramco’s valuation soared to $1.88 trillion on Wednesday as it hit the domestic stock exchange after the world’s largest initial public offering.The...Missing the cause for the symptomsThe stock of non-performing loans (NPLs) is increasing in both public and private banks. This is raising the threat to financial stability, impairing financial intermediation...Strong global, regional partnership to help achieve sustainable goalsA strong global and regional partnership can help nations achieve the Sustainable Development Goals (SDGs), said experts, as an international conference on financing inclusive and...Unilever, BGMEA to improve livelihoods of RMG workersUnilever Bangladesh and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have rolled out an initiative to work together on a number of Sustainable Development...Reserve Bank of India Feb rate cut on a knife’s edgeA February Reserve Bank of India rate cut is on a knife’s edge, with just under half of economists polled expecting easing at that meeting,...ADB maintains robust growth outlook for BangladeshBangladesh is expected to grow robustly in 2019 and 2020 riding on domestic consumption and strong remittance earnings, said the Asian Development Bank yesterday as...Rise in sea level may reduce 24pc cropland by 2045Bangladesh’s agriculture sector is under threat from climate change, as the sea level rise may reduce availability of cropland by 24 percent in coastal divisions...Vaping linked to rare lung disease: studyDoctors treating a patient with a rare lung disease usually caused by exposure to industrial metals say it may instead be the first case linked...Al-Arafah launches Islamic WalletAl-Arafah Islami Bank in association with Dmoney Bangladesh yesterday launched an “Islamic Wallet”, which it terms as the country’s first Shariah- and mobile phone-based enabler...Waivers eat up 10pc of tax income: KamalThe tax income would be 10 percent higher if the government includes the tax exemptions and waivers that it extends to various industrial and social...Bangladesh an ideal destination for FDIPresident Md Abdul Hamid yesterday sought foreign direct investment (FDI) from businesses, saying that government efforts have turned Bangladesh into a business and investment-friendly destination. “Bangladesh...Redesign development strategies to meet people’s needsGovernments should redesign development strategies by reducing reliance on growth-oriented thoughts in order to tackle social and political discontents, said Mario Pezzini, director of the...Japan upgrades third quarter GDPJapan’s economy expanded at a much faster pace than initially reported in the third quarter, as resilient domestic demand and business spending offset the hit...Trade deficit widensTrade deficit widened slightly in the first four months of the fiscal year when exports fell more than imports, a development that has exposed the...Tannery relocation led to job losses: expertsThe relocation of the tannery industry from Hazaribagh to Savar has not brought any good news for its workers and deepened their woes further in...Top VAT-payers to be honoured todayThe National Board of Revenue will honour the country’s top VAT-payers today in its bid to encourage compliance and raise awareness on the need to...Maruti Suzuki recalls over 60,000 vehicles across 3 brandsIndia's largest car manufacturer Maruti Suzuki has proactively recalled 63,493 certain petrol Smart Hybrid (SHVS) variants of Ciaz, Ertiga and XL6 vehicles, the company said...EPZ firms await easy cargo container rulesThe National Board of Revenue considers easing rules and procedures for investors in the export processing zones to promote trade and investment, said officials. Firms located...IPDC rolls out blockchain-based supply chain finance platformIPDC Finance Ltd has rolled out a blockchain-based supply chain finance platform, the first of its kind in Bangladesh, with a view to giving out...Asia-Pacific businesses to discuss ways of financing SDGsBusiness leaders from the Asia-Pacific region will discuss ways of financing the sustainable development goals at a conference in Dhaka between December 10 and 12....Internet service providers seek 5G licenceThe Internet Service Providers Association Bangladesh (ISPAB) is seeking fifth-generation licence to provide low-cost service to users as the government plans to introduce the superfast...NBR cuts VAT on coal import for power plantsThe National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent...Authentic data key to fair competition: analystsReal-time and authentic data on prices, production and demand are vital to ensure competition in the market, said analysts yesterday. There have been debates in some...FBCCI president castigates Kamal for high lending ratesFinance Minister AHM Mustafa Kamal did not do anything to bring reforms in the banking sector since coming to office 11 months back, FBCCI President...Brazil’s economy grows 0.6pc in third quarterBrazil’s economy -- Latin America’s largest -- picked up pace in the third quarter, official figures showed Tuesday, beating expectations and offering relief to President...