Archive / Business - 2019
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Global strain stirs BOJ debate of more easing in MarchBank of Japan policymakers debated the feasibility of ramping up monetary stimulus at their rate review this month as heightening overseas risks weighed on the...German consumer morale slips despite vibrant job marketAfter a buoyant start to the year, German consumers are less optimistic heading into April despite a renewed growth outlook and a vibrant labour market,...Cut corporate taxChartered accountants yesterday urged the government to cut the corporate tax by 2 percentage points across the board to tempt both local and foreign investors...Rice output to rise, USDA forecastsBangladesh’s rice production is expected to increase 7 percent year-on-year to 3.49 crore tonnes in the 12 months to April thanks to higher acreage and...Private banks sweating out over depositsPrivate banks saw a decline in deposit growth in December last year despite offering higher interest rates, highlighting the ongoing liquidity crisis in the banking...Sales pick up on economic boomSales of commercial vehicles rose 10.65 percent year-on-year to 25,980 units in 2018 fuelled by rising economic activities amid stable political situation, according to data...Banks' capital base shrinking fastThe banking sector's capital base eroded alarmingly last year on the back of an increase in default loans.As of December last year, banks' capital adequacy...Global markets fall amid slowdown fearsMarkets in the UK and US have tumbled with analysts attributing the drop to growing fears of a global slowdown.The FTSE 100 saw its worst...Malaysia a top country for Bangladeshi touristsMalaysia is witnessing a rapid increase in the number of Bangladeshi tourists while Nepal saw a decline, said officials yesterday.Malaysia received 154,000 Bangladeshi tourists in...5G rollout by 2021Customers' appetite for data is expanding every year, compelling mobile operators to increase their capacity and invest huge amounts of money in it, said experts...MIDAS awarded for standing by women entrepreneursThe MIDAS, which pioneered nurturing women entrepreneurship in Bangladesh, has won an award from three French-speaking bilateral chambers in the country for its outstanding contribution...Discounts aplenty at travel martA three-day international tourism fair got off to a flying start in Dhaka yesterday as travel lovers rushed to book tickets to avail themselves of...Banks on loan write-off spreeLoans written off by banks surged 20 percent last year as efforts to rein in default loans did not pay off.In 2018 loans amounting to...Organic push earns global praiseBangladesh is fast forging its way to be a hub of organic textile manufacturing amid a rise in demand from international apparel retailers.In the country,...Belt and Road a win-win for Bangladesh, ChinaChina's Belt and Road Initiative (BRI) could be a boon for Bangladesh as the former is looking to use its surplus capacity and the latter...Japan a key market for ICT sectorJapan holds great potential for Bangladesh's ICT sector, with the Fareast nation on course to generating a lion's share of the government's export target of...Per capita income hits $1,909Bangladesh's per capita gross national income (GNI) jumped more than 9 percent to $1,909 last fiscal year from $1,751 a year ago, showed provisional official...DataSoft to roll out 4 IoT devices next monthLocal tech giant DataSoft is set to introduce four state-of-the-art Internet of Things devices next month to make people's lives less stressful.The devices would send...ADP shrinks but projects shoot upThe number of development projects for this fiscal year has increased by about 32 percent even though allocation has shrunk, suggesting delays in implementation and...Paris catches Asian tigers in most expensive city raceParis and Hong Kong for the first time joined Singapore as the world's most expensive cities to live in, a study revealed on Tuesday, with...Kamal for simple interest rate instead of compoundFinance Minister AHM Mustafa Kamal has come up with several ideas including setting simple interest rate instead of compound interest rate when giving loans with...BASIS SoftExpo begins todayThe 15th edition of the BASIS SoftExpo 2019 is set to begin at the International Convention City Bashundhara in the capital today.This year's three-day show—that...Domino's to roll out 30-minute pizza deliveryDomino's, the world's leading pizza chain, is planning to introduce 30-minute pizza delivery service in Bangladesh within the next three months, in a development that...BASIC drowning in default loansBASIC Bank continues to be overwhelmed with default loans despite going on a loan rescheduling spree, with the scam-hit bank logging in operating loss of...China trade talks ‘progress’ boosts Wall StreetOptimism on a US-China trade deal drove Wall Street higher on Friday, with the S&P 500 and Nasdaq posting their highest closes since October 9. The...Women entrepreneurs need training on marketing skillsWomen entrepreneurs need training on how to produce quality products and market those properly to excel in life, owners of small and medium enterprises opined...Foreign firms barred to 49pc stakesE-commerce entrepreneurs have raised concerns about the new government policy restricting foreign investors from holding more than 49 percent stakes in digital ventures as it...China passes new foreign investment lawChina has passed a new foreign investment law in a move widely seen as an effort to facilitate US trade talks. Delegates voted overwhelmingly in favour...New models on display to draw buyersAutomakers and exhibitors have brought in new models of cars to meet the demand of the country's growing consumer class and car-lovers at the 14th...Take steps to reinstate GSPCommerce Minister Tipu Munshi yesterday asked US Ambassador to Bangladesh Earl R Miller to take steps to reinstate the Generalised System of Preferences (GSP) status...Just come to meNational Board of Revenue Chairman Md Mosharraf Hossain Bhuiyan yesterday called upon businesses to approach him for revenue-related issues before going to the ministers and...Asian carmakers eye bigger share of Bangladesh marketBangladesh's growing automobile market, fuelled by consistent economic growth and rising purchasing power, is drawing in automakers from around the globe, especially the Asian ones...MIGA VP in DhakaS Vijay Iyer, vice-president and chief operating officer of Multilateral Investment Guarantee Agency, the political risk insurance arm of World Bank Group, is currently in...'Next budget to be growth oriented'Finance Minister AHM Mustafa Kamal on Sunday said the next national budget will be presented in a simplified manner with much focus on creating more...Govt devises ways to boost VATThe government will appoint a revenue official for every 10 electronic fiscal device (EFD), which helps to record sales and VAT payments in businesses, and...Set aside fund for young entrepreneursThe government should put in a place a special fund to promote young entrepreneurs with a view to enabling them to create businesses and jobs,...Solar energy reduces rural povertySolar home system (SHS) is helping reduce poverty in remote areas of Bangladesh through income-generating activities, industry people said yesterday. The number of SHS installation reached...Cruise test run on March 29Passenger and cruise vessel services between Bangladesh and India are expected to begin from March 29, opening new horizons for cross-border tourism, said officials.Bangladesh Inland...Prime Bank, JCB launch platinum credit cardA platinum credit card was launched in Bangladesh yesterday through a partnership between Prime Bank and international payment channel Japan Credit Bureau (JCB) Co for...Women empowerment key to SDGs: expertsWomen business leaders and entrepreneurs yesterday called for full inclusion of womenfolk in the country's fast-paced economic growth to achieve the Sustainable Development Goal (SDG)...Sonali's profit hits 7-year highSonali Bank logged the highest net profit in seven years thanks to its deposits with different banks and massive drives to recover funds from loan...Govt in a fix over revised budgetThe finance division is facing a difficult situation in fixing the size of the revised budget as many ministries and divisions are demanding additional funds...Tiger Steel making plant at Tk 200crTiger Steel Bangladesh plans to open a new prefabricated steel manufacturing plant in April.The company has already spent Tk 20 crore on the factory being...Japanese power firm to expand in BangladeshJapan's Mitsubishi Hitachi Power Systems (MHPS) plans to expand its footprint in Bangladesh in a bid to grab more market shares.As part of the move,...Banks get six months more to lower ADRBanks have got another six months to lower their advance-deposit ratio, a move that is expected to tame the current volatility in the money market.In...Govt plans to build modern dry fish processing zone in Cox’s BazarThe government planned to set up a modern dry fish processing zone in the country’s tourist hub Cox’s Bazar aimed at introducing time-fitting dry fish...Stock turnover falls on liquidity crisisThe stock market ended the week in the negative territory amid fears of a liquidity crisis in the banking sector, analysts said yesterday.Turnover, one of...Try habitual defaulters thru' special tribunalEconomists yesterday called upon the government to set up a special tribunal to bring habitual defaulters to book with a view to restoring corporate governance...Promote jute goods to earn more foreign currencyPrime Minister Sheikh Hasina yesterday laid emphasis on branding jute products as environment-friendly ones throughout the world to expand global reach and earn more foreign...Pesticide use falls but risks remainThe cultivation of Bt brinjal has enabled farmers to reduce pesticide use and log higher profits but the genetically modified vegetable is not fully free...