Archive / Business - 2019
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Sheikh Fazle Fahim, new FBCCI presidentSheikh Fazle Fahim, managing director of Obsidian Bangladesh Ltd, has been elected as the president of the Federation of Bangladesh Chambers of Commerce and Industry...Lack of trust weighs on banksA lack of trust is to blame for the banking sector’s current woes, said noted economist Wahiduddin Mahmud yesterday.An implicit element of trust works in...US oil sanctions take effect on VenezuelaUS sanctions came into effect Sunday to block Venezuela’s economic lifeline of oil exports, in what Washington hopes will be a major blow in its...Yamaha, ACI Motors unveil 2 new bikesJapanese motorbike manufacturer Yamaha, in partnership with ACI Motors Ltd, yesterday launched two new models of two-wheeler with a view to attracting young riders in...Bangladesh not on track to achieve 3 SDGsRising inequality, increasing effects of natural disasters and high level of bribery and crimes are pushing SDG indicators in the wrong direction and will obstruct...Building a sustainable brand key to success: expertsNokia as a mobile phone brand has gone down to nowhere now from the by far market leader a decade ago. Motorola, another brand that...Indian consumers face post-election fuel price shock, economy could be hitSurging global oil prices will pose a first big challenge to India’s new government, whoever wins an election now under way, especially as domestic prices...China’s industrial profits pick up in March with 13.9pc riseProfits at China’s industrial firms grew in March, rebounding from four months of contraction, adding to optimism the world’s second-largest economy may be starting to...Logistics network needs urgent improvement: studyBangladesh needs to drastically improve its logistics network to handle the fast growing inbound and outbound cargo and container movement in line with the country’s...Demolition of BGMEA building to take more timeDemolition of the illegally-constructed BGMEA building will take more time as the Rajuk is yet to finalise the contractor for the job.The deadline for submitting...BB remains strict about offshore banking operationsThe central bank has turned down banks’ request to grant them waiver on maintaining statutory liquidity ratio and cash reserve ratio for offshore banking operations...MIDAS’ Francophonie award celebratedAmbassadors, presidents of chambers representing French-speaking countries, businesspeople and high-ups of the MIDAS yesterday celebrated the MIDAS becoming the first recipient of a “2019 Francophonie...Boro harvest begins amid falling rice priceFarmers have started harvesting the biggest paddy crop, boro, in various parts of the country but the declining prices of the staple have stoked concerns...China to recalibrate Belt and RoadChina is expected to promote a recalibrated version of its Belt and Road initiative at a summit of heads of state this week in Beijing,...GP profits soar despite hurdlesGrameenphone yesterday reported Tk 890 crore in net profit for the first quarter of 2019, up 25.6 percent year-on-year, as the indomitable operator continues to...Biman fare starts at Tk 25,200Biman Bangladesh Airlines is going to resume direct flights from Dhaka to Delhi from May 13 with ticket prices starting at $300 (Tk 25,200), excluding...Workers get 26pc less than they should: TIBGarment workers are getting 26 percent less in basic pay than what they should have under the new salary structure, according to the Transparency International...CPD seeks “actual data” on GDP analysisThe Centre for Policy Dialogue (CPD) on Tuesday urged the government to publish the “actual data” based on which the GDP has been assessed.CPD distinguished...Kamal's blasé remarks send stocks tumblingStocks fell sharply yesterday, in what can be viewed as a strong reaction to the finance minister's comment on Monday that the market's bear run...Indonesians keen to invest in energy sectorIndonesian investors are keen on investing in Bangladesh's energy and power sectors, as they see immense potential in the south Asian country, the envoy of...BB loosens rules for loan classificationIn a major move, the central bank yesterday eased the loan classification rules as it continues to engineer to show a lower nonperforming loan figure,...Outsourcing to revamp services sectorOutsourcing can transform the service sector in Bangladesh, especially in the areas of health, telecom and finance by way of improving efficiency, cutting costs and...Stocks' slide not unusual: KamalThe Dhaka Stock Exchange's bear run since February is nothing unusual, said Finance Minister AHM Mustafa Kamal yesterday, going so far as to blame the...Loans against movable assets on the cardsPeople can soon get loans from banks by keeping their movable assets with banks as collateral, in a development that will expand the access to...Teatulia brings pride gaining foothold in US, UKA Bangladeshi tea brand has gone global with successful business, expanding to the United States and the United Kingdom after several years' of efforts.Teatulia, pronounced...Airbus sets sights on Bangladesh marketThe aviation market of Bangladesh is growing rapidly and expected to expand at a faster rate in near future, generating interest from European aerospace giant...Get ready for fourth industrial revolutionSalman F Rahman, private industry and investment adviser to the prime minister, yesterday urged the youth of Bangladesh to prepare themselves to face the challenges...Summit LNG arrives at MoheshkhaliSummit LNG, a vessel with floating storage and re-gasification unit (FSRU), has arrived in the Bay of Bengal ahead of schedule to supply 500 million...Apparel should have minimum priceBangladesh needs to set a base price for garment items to ensure proper rates from international retailers and brands for all manufacturers and bring an...DSE wants curbs on sponsors' share saleThe Dhaka Stock Exchange has come up with a set of proposals to rein in sponsors, directors and placement shareholders from dumping their shares as...Is Wall Street's first female boss closer?Wall Street could soon welcome its first-ever female chief executive after JP Morgan announced that finance boss Marianne Lake will take over running its consumer...BGMEA building yet to be vacated; Rajuk seals it offThe occupants of the BGMEA complex are dragging their feet in vacating the illegal structure, failing to clear out the building yesterday, which was the...Alibaba head’s remarks spark debate over China working hoursChinese e-commerce tycoon Jack Ma has long been an example of how the power of big dreams, strong leadership and sheer elbow grease can create...Buyers offer low prices for image crisisThe main job of the incoming BGMEA board of directors would be to brighten the image of Bangladesh's garment industry, said Siddiqur Rahman, the outgoing...Little progress in RMG workers' well-beingBangladesh has made significant progress in ensuring workplace safety and increasing the wages and capacity of workers but there hasn't been much improvement in their...Huawei ready to deal with digital challengesHuawei is all set to fight the digital challenges the world would face in the days to come helped by its self-developed chips, ICT devices...GP users set to pay moreGrameenphone subscribers can brace themselves for higher charges thanks to a set of decisions taken at a telecom division meeting yesterday -- a baffling move...One-fifth of Rana Plaza survivors getting weakerThe condition of one-fifth the Rana Plaza survivors is getting worse six years after the disaster, revealed a study of ActionAid Bangladesh yesterday.Almost half of...Stocks drop to five-month lowDhaka stocks sank deeper into the red yesterday, hitting a five-month low and eliciting angry calls for resignation of the stock market watchdog's chief from...Handlooms on the declineThe number of handlooms fell by more than quarter in Bangladesh in the last 15 years, cutting jobs, largely because of the sector's shift towards...Huawei has big plans for AI, 5GHuawei will bring huge change to the world with its work in the field of artificial intelligence (AI) and fifth-generation (5G) network, a top official...Move to rid banks of NPL burdenThe central bank has moved to form an asset management company to deal with the growing non-performing loans (NPLs) of banks, as part of its...Esquire Knit falls within a day of DSE debutEsquire Knit slid below its offering price within a day of its stock market debut on April 9 -- in a baffling development for a...Accord to stay on until May 19The Supreme Court yesterday extended the tenure of Accord to May 19 in what can be viewed as a small victory for the European retailers'...Transforming business to gauge return on experienceCustomers' profiles are changing rapidly. According to a report published by the Brookings Institution in September 2018, just over a half of the world population...BGMEA seeks more time to relocate HQThe Bangladesh Garment Manufac-turers and Exporters Association (BGMEA) has sought more time from courts to relocate its headquarters to Uttara as the new building is...Growth slows to five-year lowRevenue collection growth slowed to 7 percent in the July-February period of the current fiscal year -- the lowest in five years -- owing to...New ride-hailing app promises low faresDhaka is set to get another ride-hailing option by the end of the month named Drivill that promises at least 10 percent lower fares and...Regent cuts fleet size to beat financial woesRegent Airways has moved to shave off two aircraft from its fleet as part of its plan to ride out the financial crisis the local...Gas price hike to hit industriesThe proposed hike in gas price will take a heavy toll on the industries which are highly dependent on gas to run their factories, entrepreneurs...