Archive / Business - 2019
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Special committee to heal stock illsThe government is set to form a special committee to take definitive actions against listed companies that have shuttered and overvaluation of stock price, as...Rod price falls on low demand, scrap price slumpIn a surprise development, prices of mild-steel rod fell in Bangladesh owing to lower demand, the fall of raw material prices in global market, and...All buildings must be insured: KamalAll kinds of structures, including buildings and flats, must be brought under insurance coverage as the government looks to develop the insurance sector in Bangladesh,...Apple has sour reaction to Goldman Sachs’ analyst noteApple Inc struck out at a Goldman Sachs Group Inc analyst on Friday in a relatively rare public dust-up between a blue chip Wall Street...Fed to cut rates again as optimism is testedFacing a dauntingly uncertain economic horizon and ceaselessly pelted with insults and demands for stimulus from the US president, the Federal Reserve is set to...UAE investors set to inject US$10b into Bangladesh economyA good number of UAE business groups are set to invest $10 billion (Dh36.7 billion) into Bangladesh, according to the Bangladesh Economic Forum, which takes...Port signature forgers let off bypassing lawThe 22 clearing and forwarding agents and importers guilty of forging signatures and stamp seals of government officials in the past four years got away...Sanofi to leave BangladeshSanofi, the French pharmaceuticals giant, is planning to exit Bangladesh after 60 years in the country by offloading stakes, in a massive blow to the...Attacks on Saudi facilities threaten spare oil capacity, price hikesSaturday’s attacks on key Saudi Arabia processing plants will test the world’s ability to handle a supply crisis as it faces the temporary loss of...Truck sales down 26pcDaily sales of truck—a major goods carrier—fell 26 percent year-on-year in 2019 owing to bank’s liquidity crisis and a slowdown in public expenditure since the...StanChart, Channel i to honour icons in agricultureStandard Chartered and Channel i will jointly honour a number of individuals and organisations next Friday in recognition of their contribution to the country’s agriculture...Bangladesh: the tiger of AsiaBangladesh has become a tiger among the Asian nations as no other country in the continent has grown as much as it recorded, said a...Stocks in free fallDhaka stocks continued its losing streak, as it lost a total of 302.95 points in three weeks amid persistent liquidity crunch and confidence crisis among...Fruits imports soarA tall glass of chilled vivid purple drink awaits Sarah Hussain as she comes down for breakfast with her family.Instead of calorific toast or sugary...Apple’s new, lower priced iPhone draws tepid response in AsiaApple Inc’s new, lower priced iPhone that comes with a faster processor but lacks 5G technology disappointed Asia, where cheaper and feature-packed handsets from rivals...PLFS’s stock trading suspension continuesTrading of shares of the People’s Leasing and Financial Services (PLFS), which is under process of liquidation, will be suspended for another 15 days starting...New top brass for Bangladesh Cotton AssociationSultan Reaz Chowdhury and Md Pavel Hossain have recently been elected president and general secretary respectively of Bangladesh Cotton Association.The association also elected Nuruzzaman, Zinat...Bangladesh has second most GOTS-confirmed manufacturing plantsInternationally, the quantity of offices affirmed by the GOTS rose 14.6% to 5,760 out of 2018 and Bangladesh proceeded with its second position here. Bangladesh...PM opens Community BankCommunity Bank Bangladesh yesterday began its journey with a view to reaching out the growth centres across the country.Prime Minister Sheikh Hasina opened the bank,...New era at Alibaba as Jack Ma rides into the sunsetJack Ma stepped aside as leader of the Alibaba Group on Tuesday, ending a spectacularly successful 20-year run during which the charismatic former English teacher's...Govt raises hopes for aspiring entrepreneursThe government yesterday raised the hopes of aspiring entrepreneurs as it announced a Credit Guarantee Fund (CGF) to act as guarantors for them when they...BB mulls int’l factoringThe central bank will introduce international factoring soon to help both exporters and importers run their global trade smoothly, said its Deputy Governor Ahmed Jamal...Banks’ capital base strengthensThe banking sector’s capital base strengthened on paper in the second quarter of the year after some banks were allowed to keep their provisioning against...BGMEA pondering computerized installment framework for clothing laborersPiece of clothing plant proprietors will acquaint computerized pay dispensing with guarantee female laborers get full responsibility for income and more straightforwardness in installment, said...Citi India CEO visits BangladeshAshu Khullar, Citi India CEO and Citi South Asia cluster head, visited Bangladesh last Thursday, highlighting before clients, key stakeholders and community partners the potential...Bangladeshi goods will reach highest global standards soonBangladeshi goods will reach highest global standards in the near future thanks to the increased efforts of the local manufacturers to improve quality, US Ambassador...Local govts can finance only 14pc of their spendLocal government institutions generate only 14 percent of their expenditures and rely on the central government for the rest, Ahsan H Mansur, executive director of...Hall-Mark may get a lifelineIn the most absurd turn of events, Finance Minister AHM Mustafa Kamal yesterday said steps are on way to defibrillate the disgraced Hall-Mark Group that...Focus more on SMEs to be a developed nationBangladesh hould give more focus on small and medium enterprises to materialise its vision of becoming a developed nation by 2041, SME Foundation Chairperson KM...Reliance sells 49pc stakes to Japan’s JeraJust two days after signing deals with the government to build a 750MW power plant in Meghnaghat, India’s Reliance Power has sold 49 percent of...Lebanese officials declare state of economic emergencyLebanon's political leaders declared what they called an economic state of emergency Monday following a meeting aimed at finding a solution to the country's economic...DSE dragged down by three large-cap stocksThree heavyweight stocks Grameenphone, Brac Bank and British American Tobacco Bangladesh led the slump in the last one month that saw the prime index of...BTRC starts work on 5G guidelineBangladesh is homing in on a 2022 roll-out of the fifth generation (5G) cellular network technology, with the telecom regulator now working on a guideline...RMG Sustainability Council to be formed by Nov 25RMG Sustainability Council (RSC), a tripartite compliance and safety monitoring body of the apparel sector, will be formally formed by November 25 as agreed upon...Massive policy reforms a must to attract foreign investorsBangladesh needs massive policy reforms and more business-friendly rules and regulations to attract more foreign investors, said Kazi M Aminul Islam, the outgoing executive chairman...Inflation edges down in AugustInflation declined 13 basis points to 5.49 percent in August, helped by the downward movement of both food and non-food prices.Last month’s rate also bucked...GDP growth tops 26 countriesBangladesh recorded the highest economic growth among a list of 26 countries in the last 10 years, according to The Spectator Index.Since 2009, the country’s...Huawei denies US allegations of technology theftBeleaguered Chinese telecom giant Huawei today denied accusations reported in the Wall Street Journal that it stole technology from a Portuguese inventor, accusing him of...BRTC to offload sharesThe BRTC will offload shares of Taka 1,000 crore in the capital market as the cabinet today approved the draft of “The Bangladesh Road Transport...Strike halts container movement at Ctg portContainer movement at the Chattogram port remained suspended for nine hours yesterday as workers associated with articulated lorries went on strike demanding the arrest of...Migrant workers suffer for rogue recruitmentLack of awareness on labour standards and ethical recruitment practices is a major factor which exacerbates vulnerabilities of migrants, analysts said yesterday.Labour intensive business models...Container transport from Ctg port halted due to workers’ strikePrime Mover-Trailer Sramik Union, a platform for the members who transport goods from Chattogram Port to various depots, went on an indefinite strike this morning,...Banks hardly lend via agent bankingBanks are showing reluctance in lending through the agent banking window based in rural areas despite mobilising large sums through the platform.As of June, Tk...Trump moves ahead with new tariffs on Chinese productWashington moved ahead Sunday with new tariffs on Chinese imports as it stepped up a high-pressure campaign aimed at coercing Beijing to sign a new...Women employment falling in urban areasThe number of women working in urban Bangladesh has been declining since 2010 but it is the opposite in case of rural women, according to...Listed cement makers’ earnings on the declineOut of the seven cement manufacturers listed on the Dhaka Stock Exchange (DSE), earnings per share of three companies rose in recent quarters while the...China, US kick off new round of tariffs in trade warChina and the United States began imposing additional tariffs on each other’s goods on Sunday, the latest escalation in a bruising trade war, despite signs...BGMEA to get knowhow on better sewing skillsSudokkho, a United Kingdom and Switzerland-funded programme, will provide technical assistance to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on imparting training on skills...China’s factory activity shrinksFactory activity in China shrank in August for the fourth month in a row as the United States ramped up trade pressure and domestic demand...Mirsarai economic zone getting gas todayThe Mirsarai economic zone is all set to provide gas connections to industrial units which are taking shape inside it.The zone’s gas distribution capacity has...