Archive / Business - 2019
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DSE turnover hits 13-month lowThe stocks have continued to bleed on Dhaka Stock Exchange, pushing the turnover to a 13-month low yesterday despite a raft of measures from the...Two new border haats in the offingThe federal Indian government has cleared Tripura state authorities’ proposal for setting up a second integrated check post (ICP) along the border with Bangladesh and...Trade war threat adds to Boeing woesAlready in crisis mode over the grounding of its top-selling 737 MAX aircraft, Boeing now finds itself at risk of becoming collateral damage in the...Suspicious transactions go up 64pcBanks and financial organisations sent a record number of suspicious transaction and activities reports to the Bangladesh Financial Intelligence Unit last fiscal year, in an...Bangladesh now depends less on India for cottonAfrican nations have surpassed India to become the largest source of cotton for Bangladesh as local spinners and millers look to cut down their dependence...Trade deficit narrows 9pcTrade deficit fell 9.24 percent year-on-year to $11.92 billion in the first nine months of the current fiscal year, giving some breathing space to the...Few deviations don’t define whole industry: BGMEABangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday clarified its position on a report published by Worker Rights Consortium (WRC) saying a few deviations...Homegrown innovation key to digital boomSolving local problems using homegrown innovations will be key to pulling off major business successes in the digital industry, said a top e-ecommerce expert in...Liquidity crunch intensifyingLiquidity crunch in the banking sector is deepening due to slow growth of deposits and a lethargic recovery of loans.The majority of the banks are...GP faces fresh restrictionsThe telecom regulator has decided to increase the floor price of Grameenphone’s call rate by 5 paisa to Tk 0.50 a minute from June as...Hatil brings robot carpentersHatil has invested over Tk 200 crore to renovate its Zirani Bazar factory in Savar with state-of-the-art machinery, including automated robotic systems, in an attempt...Uber shares sink on stock market debutUber shares slid to close 7.6% down on their first day of trading, as the highly anticipated share market listing failed to win over investors.Boss...Kamal defends govt’s GDP growth dataFinance Minister AHM Mustafa Kamal yesterday defended the government’s GDP growth data, saying the rates are based on solid numbers.His remark came a day after...Denim prospects brightenGlobal consumption of denim fabric increased at a compound annual growth rate of 4.77 percent between 2012 and 2016 because of a significant rise in...TV stations to take services from next weekAll the local television stations are now ready to get on board the Bangabandhu Satellite – 1 -- one year after its launch.They will join...Poor dyeing models and textile imports concern areas for Vietnam, say expertsDespite being the next biggest exporter of textile and readymade garments globally, Vietnam is yet to fully exploit its true potentials, because of its incompetent...IPDC on a rollWhen a majority of financial institutions are struggling with default loans and a lack of corporate governance, IPDC Finance Ltd has achieved stellar success by...Rising mercury fuels AC salesSales of air conditioners have doubled year-on-year in April as people are seeking ways to get respite from the scorching summer.Samsung posted 150 percent sales...China, US to hold more trade talksChina and the United States have agreed to hold more trade talks in Beijing, Vice Premier Liu He said, as US President Donald Trump ordered...Exports fetch $3b in AprilExports grew 2.69 percent year-on-year to $3.03 billion in April riding mainly on the higher shipment of apparel items, official data showed yesterday.Last month’s receipts,...Trump says no hurry to sign China deal-- US tariff increase on Chinese goods takes effect-- China to retaliate, does not immediately give details-- US, Chinese officials start second day of talksUS...Next budget to be more pro-peopleFinance Minister AHM Mustafa Kamal yesterday said the next budget for fiscal 2019-20 would be more people-friendly, ensuring smooth implementation of development projects.“The budget will...Bangladesh has ADB’s rapt attentionThe Daily Star was in Nadi, Fiji for the 52nd Annual Meeting of the Asian Development Bank’s Board of Governors at the invitation of the...SMEs constrained by limited access to credit: studyThe micro, small and medium enterprises sector (MSMEs) in Bangladesh is constrained by limited access to credit, leaving them with a financing need of Tk...Japan’s labour shortage eats away at back-breaking work cultureWhen she worked in sales for a Japanese bank, Chihiro Narazaki was passed over for the best assignments in favour of older colleagues. Her input...Garment exports to US up 10pcGarment exports to the US increased 10.10 percent year-on-year to $1.08 billion in the first two months of the year, with the shipments expected to...Stocks continue bleedingStocks continued to suffer massively for the consecutive second session yesterday as institutional investors remained inactive amid a liquidity crunch in the banking sector.DSEX, the...IMF chief says US-China tensions threat to world economyThe head of the International Monetary Fund said Tuesday that fresh trade tensions between the United States and China were the main threat to the...BMW quarterly profit tumbles 78pcBMW’s first-quarter operating profit fell 78 percent to 589 million euros, despite higher deliveries of luxury vehicles, as the carmaker felt the effects of higher...Look beyond WTO for post-LDC benefits: officialBangladesh needs to work with some alternative organisations of World Trade Organization (WTO) to continue enjoying trade privileges once its status graduates to a developing...Bangladesh a lucrative destination for investorsThe entry of Japan Tobacco International (JTI) into Bangladesh through its $1.47 billion acquisition of Akij Group’s tobacco business would attract more international investors to...Expansion of tax net should be a top priorityBangladesh has an estimated population of more than 16 crore, but the number of registered taxpayers (e-TIN holders) is roughly 38 lakh and the number...Stocks back in the redStocks went back to sinking yesterday just a day after its rising streak in the previous three days, in what can be viewed as a...Telenor, Axiata enter discussions to merge Asian operationsTelenor Group and Axiata Group Berhad are in discussions regarding a potential non-cash combination of their telecom and infrastructure assets in Asia (MergeCo), in which...Go cashless to tide through Eid expensesThe holy month of Ramadan that crescendos in Eid-ul-Fitr is undoubtedly the dearest for people in Bangladesh.Not only does one have to spend more on...Fifth edition of Agrow Award launchedStandard Chartered Bangladesh yesterday announced the launch of a fifth edition of Standard Chartered - Channel I Agrow Award 2019 to recognise the best performers...Jobs not being created at required rate: governorThe current rate of employment generation is not at the required rate, said Bangladesh Bank Governor Fazle Kabir yesterday.Many say that the current GDP growth...Better digital connectivity to ensure better lifeThings have changed a lot in Bangladesh in the last two decades. Bangladesh is now experiencing high-speed ICT development and the changes in the ICT...Spend zakat funds collectivelyExperts yesterday stressed the need for spending zakat money collectively on education, healthcare and income generating activities for marginalised people for a good impact.The third...Govt seeks ADB support to develop bond marketAsian Development Bank in developing its untapped sectors as it strives to become a developed nation by 2041. The Bangladesh delegation at the 52nd annual meeting...Govt support needed to popularise crop insurance: expertsCrop insurance may not be successful in Bangladesh if the government doesn’t extend support and awareness among farmers is not raised, said experts yesterday.Costly weather...Other sectors to get same benefits as garmentThe government will extend the same facilities that the garment sector currently enjoys to other sectors as it earnestly looks to diversify Bangladesh’s export basket...‘High migration cost is killing migrants’High migration cost is killing migrants, Expatriates’ Welfare and Overseas Employment State Minister Imran Ahmed said today.“Let’s work together in a way that the migrant...Banglalink getting back in the raceBanglalink has started to get back its business after its hefty investment in strengthening network, with the operator logging in 4.5 percent higher revenue in...Bring down corporate taxThe country’s apex trade body yesterday demanded a 2.5 percentage point reduction in corporate tax for both listed and non-listed companies and a hike in...Govt warns of stern actionThe government will take stern action against the businessmen if they are found to be involved in making the market of basic commodities volatile in...Summit LNG begins supplying gas to national gridSummit LNG Terminal Co Ltd (SLNG) has begun supplying re-gasified liquefied natural gas to the national grid in a development that will go a long...60pc RMG workers to lose jobs by 2030Some 60 percent of garment workers in Bangladesh will lose jobs by 2030 and will be replaced by robots because of the automation brought about...Microsoft sets sights on cloud business in BangladeshMICROSOFT is targeting to get huge business through its cloud solution segment in Bangladesh, especially from the private sector, as the country has been advancing...Stocks tumble to 27-month lowDhaka stocks sank to a 27-month low yesterday, compelling aggrieved investors to stage a hunger strike in front of the Dhaka Stock Exchange building.The DSEX,...