Archive / Business - 2019
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All TV channels on board Bangabandhu satelliteAll 34 local television channels are now using the feed of the Bangabandhu-1 satellite on a commercial basis -- a development that will save the...Unusual swing unnerves stock investors furtherUnusually high fluctuation in turnover has left investors at the Dhaka Stock Exchange with more worry after the key indicator fell nearly 50 percent yesterday.Turnover...Ensure coordination among govt departmentsThe government’s investment promotion agency should ensure prompt response to the queries of the business community and well-coordinated decisions across all departments, a top chamber...ADB provides $150mn for developing fast-growing Dhaka, Khulna regionsThe Asian Development Bank (ADB) and the government of Bangladesh on Tuesday signed an agreement for $150 million in loans to finance crucial infrastructure such...Reactor support truss installed at Rooppur Plant’s Unit 1Rooppur Nuclear Power Plant construction on Monday achieved another milestone with the installation of reactor support truss at Unit 1.“The role of support truss is...Robi will get listed soonRobi, the country’s second largest mobile operator, is gearing up to get listed, said the chief of the stock market regulator yesterday quoting the finance...Undue intervention by boards causes troubles for lendersUndue intervention by boards has become a major problem for lenders in Bangladesh, a situation which is creating not only a lot of troubles for...China says ‘decoupling’ would harm both sidesChina warned on Monday of instability in international markets from any “decoupling” of China and the United States, after sources said the Trump administration was...Dr Mochtan becomes 12th APO Secretary-GeneralDr AKP Mochtan has assumed the post of Secretary-General of the Asian Productivity Organization (APO) after being elected at the 61st Session of the Governing...Onion prices still high in retail marketThe prices of onion still remain high in the retail market although the prices have declined in the wholesale market.Different wholesalers said, “Onion price has...ICB seeks Tk 1,000cr from BBThe Investment Corporation of Bangladesh has sought Tk 1,000 crore in financial support from Bangladesh Bank on an “emergency basis” to inject liquidity into the...China firm to shell out Tk 300cr to build 100 hostels in DhakaA Chinese company plans to invest Tk 300 crore to establish 100 hostels for singles who are struggling to find a safe and convenient place...Battle to attract trade war’s corporate refugees intensifiesWhen trade war tariffs jolted Chinese tyre-maker Prinx Chengshan into speeding up foreign investment plans, the company wound up in Thailand, thanks to that country’s...China’s industrial profits fall as headwinds hit firmsProfits at China’s industrial firms contracted in August, reversing the previous month’s brief gain, as weak domestic demand and the trade war with the United...Foreign meat finding niche in local marketImported cheaper frozen meat has aggressively been displacing homegrown beef in Bangladeshi eateries for the last one and a half years, which is a matter...Alternative credit scoring to cut cost of funds for small businessesAlternative credit scoring (ACS) will ease access to finance for micro and small enterprises as it speeds up loan processing and lowers the cost of...Golden Harvest stocks jump on news of JV with IFCGolden Harvest stocks leapt 9.73 percent yesterday after news broke that the food processor is setting up a cold storage in a joint venture with...AL team visits BB to ‘know how it functions’A delegation from the ruling Awami League visited the Bangladesh Bank yesterday to “learn how it functions”.“We have not given any instruction to the central...Samsung to offer financing to help boost India smartphone salesSamsung Electronics is to provide finance to potential smartphone buyers, a company executive said on Thursday, in a bid to boost smartphone sales in India...Written-off loans rise in Q2Loans written off by banks surged 21 percent to Tk 54,463 crore in the second quarter of the year from a quarter ago as the...BTRC may waive GP-Robi’s late feesThe government is considering waiving off the late fees, which made up almost half the Tk 13,447 crore claimed by the telecom regulator as unpaid...Govt allows 500 tonnes of hilsa export to IndiaThe government has allowed export of highest 500 tonnes of hilsa to India during Durga Puja. The commerce ministry took the decision yesterday as a gesture...Upskilling: a necessity amid increasing automationINDUSTRIES around the world are facing a skills crisis. The introduction of automation and shortage of skilled personnel in the era of the digital economy...Sanofi’s exit plan baffles employeesFrench pharma giant Sanofi’s intent to leave Bangladesh after 60 years despite being a profitable company has left its 1,000 employees worried about their future.“We...Strike a rural-urban balanceBangladesh Bank wants banks to strike a balance between rural and urban presence to promote balanced economic development in the country, said a top official...Bangladesh can borrow more from abroadThe country has scope to bankroll its infrastructure projects through external borrowing as it has a very low debt to gross domestic product ratio, said...Improve supply chain to lift dev statusBangladesh has to improve its supply chain management system if it wants to be a middle-income country by 2021 and a developed one by 2041,...StanChart gets new chief risk officerStandard Chartered Bangladesh has recently announced appointing Nadia Mizan as chief risk officer and senior credit officer.She had previously been serving as senior credit officer,...Philippines orders shutdown of 11 illegal lending appsThe Securities and Exchange Commission (SEC) of the Philippines has issued a cease and desist order against 11 more illegal mobile lending applications, heeding complaints...Facebook to appoint local representative within 4-6 weeksFacebook will appoint a local representative within the next four to six weeks to ensure payment of value-added tax from their advertisement earnings from Bangladesh...BB move boosts stocksStocks jumped up yesterday buoyed by a Bangladesh Bank move that allowed banks to invest in equities by borrowing funds from the banking regulator.On Sunday,...India’s onion prices surgeThe Centre is mulling imposing stock limits on onion traders as the retail prices of the key kitchen staple have shot up to Rs. 70-80...Graft to blame for project delays: TazulCorruption is the major reason for delays and weak implementation of development projects, said a senior minister yesterday.“Productive projects should be selected to help revenue...UK travel firm collapses, stranding hundreds of thousandsThe world’s oldest travel firm Thomas Cook (TCG.L) collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime...No response from Facebook, Google, YouTubeThe government has failed to bring Facebook, Google, YouTube and other digital platforms under its tax network three months after the new VAT law came...41pc households with migrants to be poor without remittance: WBForty-one percent of households with at least one family member engaged as a migrant worker would be in poverty without remittance, said a senior World...First coal-laden vessel arrives in Payra portA vessel laden with 20,000 tonnes of coal reached the jetty of the Payra port yesterday for the first time in the history of the...Stocks bleed despite GP surgeStocks extended their losses for the third consecutive day as nervous foreign investors continued to dump their shares anticipating further depreciation of the taka.Though heavyweight...US to help fight money laundering: envoyUS Ambassador Earl R Miller yesterday said his country would continue to support Bangladesh in tackling money laundering and terrorist financing and strengthen the rule...Onion still skyrocketingOnion prices kept surging yesterday despite measures and promises from the government to cool down the market of the essential cooking ingredient.Yesterday, the price of...CIP status for 182 exporters, businesspeopleThe government yesterday bestowed the commercially important person (CIP) status on 182 exporters and businesspeople in recognition of their stellar contribution to exports and trade...Bangladesh leads world in green RMG productionBangladesh is now home to the highest number of platinum rated garment factories in the world, which portrays the country’s strong footing in green production,...France pledges billions in fight to halt start-up drainHow do you stop European tech firms from moving to the US once they start eyeing the big time? Part of the solution is finding...Kamal steps in as mediatorThe long drawn-out conflict between the country’s top two mobile operators -- Grameenphone and Robi -- and the telecom regulator over unpaid dues amounting to...Furniture makers demand bonded warehouse facilityThe furniture sector could be one of the major export earners for Bangladesh if the government extends bonded warehouse facility to manufacturers, industry people said...Banks relieved as loan-deposit ratio to stay unchangedJan 2018: BB ordered banks to lower ADR to 83.5pc from 85pc by June.Feb 2018: Interest rate market skyrocketed as a dozen banks ran after...Attacks on Saudi oil facilities - what will it mean for consumers?The attack on Saudi facilities on Saturday caused the biggest oil supply disruption for more than 50 years. Here is what it could mean for...Apple says $14b EU tax order ‘defies reality and common sense’The European Union’s order for Apple to pay 13 billion euros ($14 billion) in back taxes to Ireland “defies reality and common sense,” the US...Pre- and post-IPO earnings raise questionsEarnings of many companies drop even after three-four years of their listing in the bourses, whereas stock investors expect it will rise with the investment...Telcos’ data revenue surgesData revenue for the top three mobile phone operators surged 23 percent to Tk 2,862 crore in the first half of the year on the...