Archive / Business - 2019
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Eid salary, bonus paid to workers: Industrial PoliceAlmost all garment factories have completed paying the wages to their workers yesterday along with the festival bonus for Eid-ul-Azha. “So far, we have not...IMF warns increasing US tariffs could cut China growth sharplyChina’s economy already is slowing amid the trade conflict with the United States, but if Washington were to ramp up tariffs even further it could...Investment in health gives 10 times more returnBangladesh should increase its investment in social sectors such as health, education and nutrition to build a healthy population and enjoy demographic dividend, said a...Govt to purchase Vehicle Mounted Data Interceptor through DPMThe government today approved a proposal to purchase a Vehicle Mounted Data Interceptor for the National Telecommunication Monitoring Centre (NTMC) through Direct Purchase Method (DPM)...BTCL offers unlimited landline calls for Tk 150Landline provider Bangladesh Telecommunications Company Limited (BTCL) has offered unlimited calls within its network for only Tk 150 per month as the struggling state-run company...Govt sets export target at $54bThe government yesterday set the export target for the current fiscal year at $54 billion, up 15.20 percent than that a year ago.Of the amount,...Lack of feasibility studies delays ADPMost of the ministries prepare projects without proper feasibility study and technical design, which increases the cost of projects and delays their implementation, according to...Idea and innovation key to successGenerating ideas and having a keen mind for innovation are key for a fledgling entrepreneur to attain success, said Md Arfan Ali, president and managing...Huawei's first devices powered by HongMeng OS said to launch in 2019Chinese media outlet Global Times reported that Huawei will launch the first commercial devices powered by its in-house operating system this year.Since Huawei was put...Maintaining steady economic growth a big challenge: ICCBMaintaining steady economic growth and reducing inequality are two big challenges for Bangladesh now, Mahbubur Rahman, president of the International Chamber of Commerce Bangladesh, said...Foreign investors retreating from DSENet overseas investment in the Dhaka bourse has been in the negative for the last five months as foreign investors are put off by lack...Proposed tobacco tax structure: what could be achieved?Bangladesh aspires to become a tobacco-free country by 2040. In order to achieve this goal, it is important to explore the tobacco economy of Bangladesh,...Economic zone tax breaks create disparityThe tax exemption benefit given to industrial units inside the economic zones has created disparity between factories outside the industrial enclaves, raising fears of uneven...Coppertech grabs all attention in Dhaka bourseTrading of the much-talked-about shares of Coppertech Industries began on the Dhaka Stock Exchange yesterday with a whopping 355 percent rise in its price.The last...Commward honours creative communication worksThe ninth Communication Award or Commward took place in the capital on August 3 honouring the best works in creative communication in 23 categories.Three “Grand...Prime Bank’s half-year profit rises 28pcPrime Bank’s consolidated profit rose 28 percent year-on-year to Tk 99 crore in the first half of 2019, the bank said in a statement yesterday. Earnings...Growing economy attracts Japanese businessesMany Japanese companies are keen to do business with Bangladesh as its economy is growing, Japanese Ambassador Hiroyasu Izumi said yesterday.“Bangladesh has been achieving impressive...Mehmood Husain NRB Bank CEO for second termMd Mehmood Husain has been reappointed managing director and CEO of NRB Bank for a second term.Husain started his banking career as a probationary officer...Haors need specialised bank, says CPDThe Centre for Policy Dialogue (CPD) has suggested setting up a specialised “Haor Bank” and adequate budgetary allocations to improve livelihoods in the wetland areas.The...MCCI opens second office in Gulshan 1The Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) yesterday opened a second office in the capital to better meet needs of its members. Planning Minister...Leather goods exports dull despite huge potentialVietnam entered the global footwear export market just a decade ago and the Southeast Asian nation’s export now stands at $20 billion a year. On...Buoyant economy demands building brand image: expertsIt is high time for Bangladeshi companies to build brand image as the economy is growing fast, advertising and marketing experts said yesterday. “Bangladesh is not...Global recognition for DmoneyLocal financial technology service provider Dmoney Bangladesh Ltd has been named in the “10 Most Convenient Wallets to Watch in 2019” by APAC Business Headlines,...Trump hits China with more tariffs, sharply escalating trade dispute-- US to impose 10% tariffs on $300 bln of China imports -Trump-- Tariffs to take effect September 1-- New tariffs not constructive - senior...Tax receipts fall short of target by 20pcTax collection fell short of target by 20 percent in fiscal 2018-19, with the National Board of Revenue (NBR) blaming exemptions and discounts given to...Frequent changes in tax regime to bring no goodAn article with the title “One single VAT registration for taxpayer is way forward” published on July 21 in Star Business and authored by Mr...Biman logs Tk 272cr profit on anti-graft drivesBiman Bangladesh Airlines posted a profit of Tk 272 crore in 2018-19 thanks to increasing ticket sales, for which the officials of the national flag...Kamal to sit with private banks SundayFinance Minister AHM Mustafa Kamal will sit with the chairmen and managing directors of private banks on Sunday to discuss the latest situation in the...Loan recovery falters in first quarterBanks’ loan recovery in the first quarter of 2019 was 9.68 percent higher than a year earlier, but given the extraordinary rate at which default...Illegally imported handsets to get no networkMobile handsets with fake International Mobile Equipment Identity (IMEI) numbers will not be able to use Bangladesh’s mobile network after a certain period as the...City Bank’s half-year profit soars 33pcThe City Bank’s consolidated profit rose around 33 percent year-on-year to Tk 184.56 crore in the first half of 2019.The bank disclosed its half-yearly financial...Brac Bank’s half-yearly profit down 12pcBrac Bank’s consolidated profit dropped 12 percent in the first half of 2019 despite maintaining good growth in deposits and loans with superior asset quality...A challenging time for monetary policyBangladesh has made substantial progress in achieving price and macroeconomic stability. It has succeeded in maintaining inflation in modest single digits range, while also achieving...Credit growth unlikely to risePrivate sector credit growth, which fell to a six-year low of 11.3 percent last fiscal year, is unlikely to rise in the coming months owing...Rural India develops taste for chocolateTwo years ago, Satish P, a bakery owner in the small village of Harohalli near Bengaluru, had his doubts about stocking Mondelez’s Cadbury Silk bars.Priced...First big US offshore wind project hits snagTrump administration infighting is holding up approval of the first major US offshore wind energy project, with agencies sparring over whether the proposal does enough...Demand for mosquito repellents hits the roofDemand for mosquito repellents, particularly for personal use, is spiralling as panic-stricken people rush to buy protectors from Aedes mosquito, which has bitten the highest...Export of plastic products rises as new markets emergeShipments of plastic products rose 22 percent year-on-year to $120 million in fiscal 2018-19, something manufacturers and traders attribute to the emergence of new export...DSE turnover drops 13 pcStocks closed flat after a choppy trading session yesterday as investors retained their cautious stance amid a volatile market. DSEX, the benchmark index of the...China’s industrial profits fall in June, add to fears of slowdownProfits earned by China’s industrial firms contracted in June after a brief gain the previous month, fuelling concern that a slowdown in manufacturing from a...BRI needs India to be useful for BangladeshBangladesh has a lot to gain from cooperation between China and India for the Belt Road Initiative (BRI), said two leading economists yesterday.In 2016, Bangladesh...NBR misses revised revenue target by Tk 50,000crThe National Board of Revenue (NBR) logged Tk 230,000 crore in tax in the just concluded fiscal year but failed to reach the target for...Bangladesh’s position remains unchangedBangladesh was placed 116th out of 129 countries in this year’s Global Innovation Index, unchanged from last year’s ranking. The country scored 23.31 in 100 in...Foreign satellites face tough timesThe telecom regulator has drafted a guideline on landing rights for broadcasting satellite services as the government looks to monetise the country’s lone satellite Bangabandhu-1.The...Wheat import falls for first time in seven yearsBangladesh’s wheat imports in fiscal 2018-19 declined for the first time in seven years for the higher carry-over stock in the hands of private traders...ADB lifts growth estimate to 8.1pcThe Asian Development Bank (ADB) has upgraded Bangladesh’s growth estimate for fiscal 2018-19 to what would be the highest in the Asia Pacific region, in...Diversification to help log $60b exports by 2021Bangladesh can reach its export target of $60 billion by 2021 if new products and value addition can be ensured alongside market diversification, said Commerce...GP will go to court for arbitrationGrameenphone yesterday said it would go to courts to bring the Bangladesh Telecommunication Regulatory Commission to table for an arbitration in order to settle the...Unique Meghnaghat to build 584MW plantBangladesh’s largest ever combined cycle power plant of 584 megawatts (MW) fuelled by natural gas is set to be established by Unique Meghnaghat Power at...Govt to buy gas from IOCs at Asian rateThe government will buy gas from international oil companies (IOCs) at the Asian market rate from now, in a departure from its previous stance to...
