Archive / Business - 2019
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Workers get $0.54 of an $18.25 polo shirtBangladeshi garment workers get only 2.96 percent, or just $0.54, of the $18.25 retail value of a polo shirt in the Western world, said the...Stocks break losing streakDhaka stocks yesterday bounced back on falling for four consecutive days after some institutional investors acted in keeping with the request of the regulator.Market insiders...Asia-Pacific apparel sales to grow slightly in 2019Sales of apparel items in emerging Asia-Pacific countries will continue to grow slightly in 2019 while it will decline in other major regions, including Europe,...Luxury in the hands of fewA small number of people are leading the life of the first-world while hundreds of thousands of workers are languishing in the third-world condition in...Complex regulatory regime may hinder 5G: Banglalink CEOBangladesh's current complex telecom regulatory regime, which has already prevented the sector from achieving its full potential, is not conducive for efficient functioning of 5G...Global economy cooling: IMFThe global economy is slowing more than expected and a sharp downturn could require world leaders to coordinate stimulus measures, the International Monetary Fund said...UN-led organisations call for overhaulUnless national and international financial systems are revamped, governments will fail to keep their promises on critical issues such as combating climate change and eradicating...Bangladesh second fastest growing economy: IMFBangladesh is among the three fastest growing economies in the world, according to the International Monetary Fund (IMF) -- in yet another thumping endorsement of...Bangladesh 3rd in South Asia, 11th globally: WBBangladesh received $15.5 billion in remittance last year, up more than 15 percent year-on-year, according to the World Bank.“In Bangladesh, remittances showed a brisk uptick...Stock investors at wits' endAnguished by the freefall of the stock market over the past month, general investors yesterday staged demonstrations in front of the Dhaka bourse.Since March 3,...Sonia Bashir Kabir leaving MicrosoftSonia Bashir Kabir is leaving Microsoft after serving the American multinational technology firm for five years as managing director for Bangladesh, Myanmar, Nepal, Bhutan and...Inflation creeps up in MarchInflation last month edged up dangerously close to the ceiling set by the government for this fiscal year thanks to a rise in food prices.In...5 best honeymoon destinations in India for new-age couplesIn today’s day and age, couples, especially the new age millennials, desire to indulge in a leisure-filled, luxurious honeymoon, for an unforgettable experience. With an...Transcom brings Tropicana FrutzPepsiCo has brought in Tropicana Frutz—a product of the world's number one packaged juice brand—for the Bangladesh market as part of efforts to widen its...BASIS seeks special card to pay for digital marketingSoftware developers are going to propose to the central bank to introduce a special card to help them bear the expenditure on digital marketing through...Trade deficit narrowsTrade deficit squeezed by 8.42 percent in the first eight months of 2018-19 thanks to the steady growth of exports and a slowdown in imports,...Exports continue good run in MarchExports continued its good run in March, fetching 9.51 percent more than a year earlier and getting into a comfortable position to hit this fiscal...Fintech may boost financial inclusion: BBFinancial technology, popularly known as fintech, may facilitate financial inclusion in Bangladesh by offering new platforms for savings and borrowings such as agent banking, according...MCCI calls for corporate tax cutsThe Metropolitan Chamber of Commerce and Industry (MCCI) yesterday demanded reduction in corporate tax in the next fiscal year to facilitate trade and investment.The trade...Puma opens flagship store in BananiSportswear brand Puma made its entry into the Bangladesh market with the launch of its first flagship store on Banani Road 11 in the capital...Banks gearing up for the digital waveBanks are no longer a place where depositors just go to stash their money and borrowers go to borrow funds during the usual banking hour...Paying with MFS at retails gaining tractionPayments through the mobile financial service platform have trebled in the last one year, in a development that will bring cheer to the central bank...Edible oil import to rise: USDASoybean and palm oil imports are likely to increase by 10 percent to 26.50 lakh tonnes in the year ending in June, buoyed by rising...Rubana climbs BGMEA summitRubana Huq, managing director of Mohammadi Group, is set to be the next president of the BGMEA after her panel managed a clean sweep at...Addressing the menace of NPLsIt is heartening to learn that the newly elected government is keen to address the menace of non-performing loans (NPL) in Bangladesh. This is appropriate...Before India votes, RBI cuts rates by 25 basis points to spur growthThe Reserve Bank of India (RBI) cut its policy interest rate by 25 basis points on Thursday, in a widely expected move to boost the...Germany's Siegwerk to open ink blending centreSiegwerk, a German packaging ink-making giant, is going to open an ink blending centre in Bangladesh this year to expand its footprint in the $100-million-plus...Poor network quality shrinks 4G usagePoor network quality is forcing mobile data users in Bangladesh to consume only one-tenth of what Indians are using every month on average, Jerry Wang,...Voting to BGMEA biennial polls going on to elect boardVoting to the biennial election to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) for 2019-22 is going on to elect the board for the...Telcos fall short of 4G speed promiseNone of the mobile operators can maintain the required 4G speed of 7 megabytes per second in any of the four divisions of Khulna, Rajshahi,...Fastest in Asia-PacificBangladesh is on track to log in the fastest economic growth in the Asia-Pacific region in fiscal 2019-20, said the Asian Development Bank in its...Compliant tanners to boost exports: expertBangladesh has the potential to expand its share of leather and leather products in the lucrative global market if it can make its tanneries fully...Mechanisation key to higher farm yieldBangladesh lags far behind its peers in the use of farm machinery despite having huge potential as agriculture remains an important sector of the country's...Private credit growth hits 53-month lowPrivate sector credit growth hit a 53-month low in February thanks to the ongoing liquidity crunch brought about by the rising default loans.In February, credit...GP woes over unpaid dues get worseGrameenphone's woes over unpaid dues just got worse, with the government now likely to claim about Tk 800 crore more following revision of the audit...Sri Lanka powers up South Asia’s first pilot mobile 5G serviceFor the first time in South Asia, Sri Lanka's largest telecommunications service provider Dialog Axiata PLC has successfully demonstrated a fully standards based 5G mobile...Remittance up 10.28pcInward remittances edged up 10.28 percent year-on-year to $11.87 billion in nine months to March this year thanks to the steady depreciation of the taka...Big university gender pay gap revealedMore than nine out of 10 British universities pay their average male employee more than they pay their average female employee.Nearly all government departments and...Businesses on same page with govt over VAT lawBusinesses are on board with the government's plan to introduce four different rates of value-added tax (VAT) from July, clearing the way for the implementation...Japanese firms bullish on BangladeshThe majority of Japanese companies operating in Bangladesh plan to go for business expansion over the next two years thanks to cheap labour and high...Lending rate to be brought down: PMPrime Minister Sheikh Hasina yesterday said the government will take measures again to reduce the interest rate for the sake of the country's industrialisation."We'll sit...Recovery fails to keep pace with default loan spikeThe pace of recovery of banks' nonperforming loans (NPL) was much lower than the rate at which their NPL increased last year -- an ominous...Women entrepreneurs need easy funds, policy supportWomen entrepreneurs have come a long way despite facing social and economic barriers, speakers said yesterday.Now female entrepreneurs need policy support and more budgetary allocation,...Budget to be realisticThe budget for the next fiscal year will be realistic, meaning the government will be able to attain both the revenue and expenditure targets, said...Boeing unveils fix to flight system after deadly crashesEmbattled aviation giant Boeing pledged Wednesday to do all it can to prevent crashes like the two that killed nearly 350 people in recent months,...AIIB lends $120m for Ctg power system upgradeThe Asian Infrastructure Investment Bank (AIIB) has approved a loan of $120 million for a project that will upgrade and expand the power transmission system...Pound rebounds on Brexit deal hopesSterling rallied Tuesday on fresh hope that British Prime Minister Theresa May would avoid a chaotic no-deal Brexit, while global stock markets recovered.As Wall Street...Sonali Bank: once bitten, twice shySonali Bank has emerged as an anomaly in the banking sector, logging in almost half the loan-deposit ratio than other banks last year, at a...Locally assembled Samsung handsets bearing fruitThe local assembly of handsets by Samsung is already bearing fruit as their quality in some cases is better than the imported ones and the...MFS market to heat up as PM opens NagadPrime Minister Sheikh Hasina yesterday inaugurated digital financial service provider Nagad, a product developed by Bangladesh Post Office with a private company in a bid...