Archive / Business - 2019
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Stocks fall back to depressionStocks failed to maintain the momentum of the previous day that saw the biggest single day rise since April 1, 2018, which suggests retail investors...US stocks rally on earnings, trade talks reportWall Street stocks rallied Tuesday following a batch of mostly good earnings and as reports that face-to-face US-China talks will be held next week lifted...Decline in savings downs investmentEach month, Ayesha Amin, a housewife, aims to put Tk 5,000 of the money her husband hands over to her for the running of the...Satellite, submarine cable business may open to private sectorThe government is set to open up the satellite and undersea submarine cable business to the private sector as it looks to expand the capacity...NGOs charge 25pc interest for farm loansThe interest rate on more than one-third of farm loans banks disbursed through non-governmental organisations in fiscal 2018-19 was as high as 25 percent --...PLFS liquidator seeks asset listThe liquidator of People’s Leasing and Financial Services (PLFS) on Monday asked the existing management to provide him with affidavit information on the company’s assets...Exporters get a boostExporters will now be able to issue the certificate of origin to enjoy the generalised system of preferences (GSP) facility in the European Union, instead...SpiceJet to connect Dhaka with Mumbai, DelhiIndia’s political and financial capitals New Delhi and Mumbai will once again be just a flight away from Dhaka thanks to budget carrier SpiceJet’s acquisition...Get VAT registration irrespective of turnoverThe National Board of Revenue (NBR) has asked firms engaged in doing businesses of more than 170 products and services to get value added tax...NPL at state banks didn’t rise: KamalFinance Minister AHM Mustafa Kamal yesterday said he delivered on his promises he made six months ago that the non-performing loans at the state banks...Collaboration to accelerate RMG wage digitalisation: studySome 82 percent of the apparel factory owners will digitise wage disbursement if it assures transparency, saves time and lowers complexities, a recent study found.The...Mostafa Group eyes a comebackDebt-ridden Mostafa Group wants to pay back Tk 1,500 crore loans with around three dozen lenders taking advantage of the central bank’s rescheduling facility, as...Bank Asia’s agent banking deposits cross Tk 1,000crBank Asia’s deposits in agent banking have recently crossed the Tk 1,000 crore mark, further consolidating the bank’s position in the sector. Bangladesh Bank has so...Rejoinder, our replySocial Islami Bank Ltd (SIBL) has sent a rejoinder to a July 17 report of The Daily Star with the headline “Record loan rescheduling at...Pharma exports soar 26pcBangladesh’s medicine exports soared 25.60 percent year-on-year to $130 million last fiscal year thanks to continuous improvement of product quality and government support.The sector has...Youngsters use tech for real-life problemsA two-day hackathon, a competition aiming to find out solutions for real-life problems using technology, took place at GPHouse in Dhaka on Friday and Saturday.Bracathon...Profit soars for MicrosoftMicrosoft on Thursday posted quarterly earnings that trounced expectations, citing growth in partnerships with companies on technology and cloud computing services. One single VAT registration for taxpayer is way forwardI extend my sincerest thanks to the National Board of Revenue (NBR) for amending several provisions of the Finance Bill 2019 and a few statutory...Transit: Stones imported from Bhutan thru’ IndiaSome 1,000 tonnes of stone aggregates from Bhutan were delivered successfully to Bangladesh using Indian territory, paving the way for trade with the landlocked nation...Dream flats to remain elusiveThe dream of owning a flat may never come true for many as properties will become more expensive owing to the hike in prices of...Angry stock investors want PM to step inA group of stock investors yesterday handed over a memorandum to the Prime Minister’s Office and called for initiative from the government to revive the...Pakistan price squeeze hits middle class as well as poorPakistan Prime Minister Imran Khan’s government faces mounting pressure as rising prices and tough austerity policies under Pakistan’s latest bailout from the International Monetary Fund...RMG exporters looking EastThree Asian nations -- India, China and Japan -- are fast emerging as major apparel export destinations for Bangladesh after a jump in orders in...Strong financial sector key to sustainable growthBANGLADESH should put emphasis on building a strong financial sector in order to ensure macroeconomic stability, increase efficiency and liquidity of markets, draw investment and...Mixed earnings at large US banks as Fed rate cut loomsJPMorgan Chase reported record quarterly profits on Tuesday behind strong consumer businesses, but shares were volatile amid worries over expected Federal Reserve interest rate cuts...Trade war, Brexit stoke debt and dollar, hit stocks and sterlingResurgent trade tensions, concern over the outlook for corporate America and the growing risk of a chaotic Brexit in the United Kingdom curtailed appetite for...No NOC for GP, Robi until dues clearedThe telecom regulator yesterday decided to refrain from issuing any kind of approval related to service and maintenance to Grameenphone and Robi to create pressure...Stock investors want BSEC chair to resignStock investors have demanded resignation of the chairman of Bangladesh Securities and Exchange Commission, as the market has lost 260.48 points or Tk 16,863 crore...Export target to be 15pc higher: MunshiThe government is likely to set a 15 percent higher export target for this fiscal year as it looks to hit $60 billion in receipts...Record loan rescheduling at Social Islami BankSocial Islami Bank rescheduled a record amount of loans in the first quarter of 2019 and yet failed to arrest its default loans from spiralling,...Bar on mutual funds to give stock dividendThe stockmarket regulator yesterday came up with the decision of barring the open-end and closed-end mutual funds from providing any return on unit (a form...Order issued to freeze accounts of 11 former directors, officialsBangladesh Financial Intelligence Unit (BFIU) yesterday issued an order to freeze the accounts of nine former directors and two officials of troubled Peoples Leasing and...Stocks sink to 2.5-year lowDhaka bourse’s index hit a two-and-a-half-year low yesterday after sinking for seven days straight as investors continue to stay away from the market for lack...Prospects of paint industryThe Asia Pacific region occupies a substantial share in the global paints market thanks to the presence of numerous developing countries, including China, India, Vietnam...Fareast Islami co-op society chairman heldCriminal Investigation Department (CID) today claimed to have arrested the chairman and owner of Fareast Islami Multi Cooperative Society Limited, Shamim Kabir, for allegedly embezzling...Vivo to open mobile assembly plant in BangladeshChinese smartphone manufacturer Vivo is all set to roll out the first mobile assembly plant in Bangladesh with full foreign direct investment, as international companies...Adcomm celebrates 45th anniversaryAdvertising agency Adcomm recently celebrated its 45th anniversary at its head office in Dhaka with its chairman, Geeteara Safiya Choudhury, along with employees in attendance.Founded...Trump administration freezing fuel efficiency penaltiesThe Trump administration said late on Friday it was issuing final rules to suspend a 2016 Obama administration regulation that more than doubled penalties for...Liquidator appointed for People’s LeasingThe High Court yesterday gave the go-ahead to the central bank to appoint a liquidator for People’s Leasing and Financial Services (PLFS), a non-bank financial...Apparel prices fall 1.61pc in 4yrsPrices of garment items exported from Bangladesh dipped by 1.61 percent over the last four years, a reflection of the pressure international clothing retailers and...Non-state actors helping reach SDGsNon-state actors, including NGOs, think-tanks, media and private sectors, in developing countries like Bangladesh are playing a critical role in implementing the Sustainable Development Goals...AIIB pledges all-out support for BangladeshThe Asian Infrastructure Investment Bank will extend all-out financing support to Bangladesh in the coming days and has even agreed to let the country select...Dhaka Bank sets sights on digital transformationDhaka Bank is increasingly embracing digital transformation to serve its clients better as tech-savvy customers expect advanced services and products, its top executive said.“Digital innovations...WB, AIIB approve $200m loan for safe water, sanitation in BangladeshThe World Bank and the Asian Infrastructure Investment Bank (AIIB) have approved $100 million each to increase access to improved water supply and sanitation system...Stock investors lost Tk 13,201cr in 12 daysStock investors are still reeling from Finance Minister AHM Mustafa Kamal’s maiden budget 12 days on, with the Dhaka Stock Exchange losing Tk 13,201 crore...Govt formulates strategy to raise revenue collectionThe government has devised a strategy to ramp up revenue collection by Tk 60,000 crore in the new fiscal year in order to help the...Nagad sets sights on mobile top-up businessBangladesh Post Office’s mobile financial service Nagad is seeking to take over the mobile phone top-up business in the country, which last year saw credit...3 economic zones get $17.91b investment proposalsBusinesses from home and abroad have come up with investment proposals worth $17.91 billion in Mirsarai, Sreehatta and Moheshkhali economic zones, which are now under...Worries among 15 banks, NBFIs over Tk 850cr depositSome 15 banks and non-bank financial institutions (NBFI) that have Tk 850 crore stuck with People’s Leasing Financial Services (PLFS) are on edge over the...BTRC refuses to accept operators’ quarterly payment sans VATThe telecom regulator has refrained from receiving mobile phone operators’ various payments for the April-June quarter after the latter declined to include the associated value-added...