Archive / Business - 2020
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Forex reserve crosses $43bThe country's forex reserves yesterday hit a fresh record of $43.17 billion thanks to the upward style of remittance and lower import payments, Bangladesh Bank...Sectors recovering at varying paces: MCCIAlthough the country's financial activities gained pace following the coronavirus containment methods came to an end on May 30, it really is still far off...Lobby trading partners for duty benefit just after LDC graduationBangladesh should lobby its main trading partners, including China, Japan, India and the European Union, to guard duty privileges for export development once it leaves...State-run fuel suppliers’ earnings drop on Q1Earnings of state-run gasoline supplying companies dropped found in the July-September period due to a sharp fall found in income from bank deposits and in...Edible oil prices increasingLocal consumers will have to spend more about edible oil as prices are growing in the foreign market almost every week due to decreased production...FBCCI pushes for extending bank loan moratoriumThe Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has reiterated itsrequest for Bangladesh Bank to extend an ongoing loan moratorium until June.Moreover, the...After a trying year, cement manufacturers bracing for slower recoveryWith the year going to come to a close, the cement sector finally experienced some relief from the ongoing pandemic because of increased consumption alongside...Govt sets 8pc GDP growth target found in five-year planThe federal government has set an ambitious average economic growth target of 8 % in its Eighth Five-Year Plan, more so to be achieved amidst...Credit growth calls for another beating in NovNon-public sector credit growth dropped on November once again as a result of eroding confidence of businesses amid the next wave of coronavirus infections.The year-on-year...The fruit of fortuneRoadside fruit stands stacked with oranges are actually a common sight in Dhaka, particularly in urban residential areas and kitchen markets.If you ask such vendor...Sukuk era beginsBanks yesterday flocked to sukuk to invest their idle cash and manage an improved yield than in conventional treasury bills and bonds due to Bangladesh...Budget execution faces roadblocksBangladesh's exterior sector came under strain in January following the outbreak of coronavirus disease in China, the country's largest trading partner, slowed global trade, as...Star’s ICT awards tomorrowThe fifth The Daily Superstar ICT Awards will need place tomorrow with the aim to recognise champions in neuro-scientific ICT and inspire entrepreneurs to work...Vaccine optimism lifts stocks to 1 1.5yr highThe benchmark index of the Dhaka STOCK MARKET rose to its finest level within the last one . 5 years yesterday because of the energetic...Govt will now purchase all jute luggage from private sourcesThe government has made a decision to buy 50 % of jute bags and sacks from private companies and the others from traders following closure...Biman to add latest aircraft to fleet todayPrimary Minister Sheikh Hasina is scheduled to inaugurate a brand new Dash-8 400 aircraft today because of its inclusion found in the fleet of Biman...Beximco Pharma shares perk up on vaccine dealBeximco Pharma has been the most notable choice for stock investors in the last few weeks because they believe the drug maker will make higher...Covid poses challenges for LDC graduationBangladesh is set to graduate from the group of the least-developed countries but will face some issues during the transition period as a result of...Govt to get 150,000 tonnes of rice from IndiaThe government is set to get 150,000 tonnes of rice from India under a state-to-state contract in order to resupply the general public food stocks...Take action against ACI for supplying substandard agricultural machinery: parliamentary bodyA parliamentary human body yesterday recommended to take required action against the ACI company for supplying substandard life-saving elements and agricultural machinery, especially merged harvester.The...Robi debut buoys stocks to 16-month highStocks soared to a good 16-month on top of the trading debut of cellular phone operator Robi Axiata, buoyed by basic investors' investing in spree...A visionary who blazed trails for mostMA Hashem, a organization tycoon, started as a humble tobacco trader in the first 1960s before becoming among the leading business owners and industrialists in...Customs seizes containers for inflated export valueBangla Foodstuff and Beverage Ltd tried to export an individual tonne of foods instead of 22 tonnes declared to say higher funds incentives from the...Govt to ship 50,000 tonnes of urea to NepalBangladesh is defined to send 50,000 tonnes of it has the imported urea fertiliser to Nepal at the import value to greatly help the landlocked...Light engineering may thrive on bike componentsThere is huge potential in the country's light engineering sector to exploit the neighborhood market for motorcycle components, according to speakers at a webinar yesterday."The...Plastic manufacturers were hard-pressed however now expect a comebackThe outbreak of Covid-19 and the next lockdown put the plastic industry in Bangladesh into serious trouble in the first three months of the crisis.The...Remittance resurgence no treat for sickly emerging economiesLarger-than-expected money transfers from migrants overseas own provided a tonic for many sickly economies through the coronavirus crisis, however the outlook for such flows remains...Displaced workers of three sectors to receive cash assistanceThe workers who dropped their jobs because of the Covid-19 fallout across three sectors -- garments, leather and footwear -- are going to finally receive...No bar for the present time on two telcos’ value-added servicesThe telecom regulator yesterday temporarily withdrew its ban on Robi and Banglalink on providing value-added services from third parties after the operators decided to ensure...Bangladesh urges India to lift restrictions found on seed importBangladesh yesterday demanded the withdrawal of a bar on seed imports from India to boost bilateral cooperation in the agricultural sector.Agro mechanization, improving the caliber...Crystal Ins shares see surprise rise in demandAn abnormal surge in the stock price of newly listed companies is still a common scenario in the neighborhood market, where these overvalued shares in...Robi’s currency markets debut on ThursdayRobi Axiata's initial public offering (IPO) is defined going to the secondary market on Thursday.The business raised Tk 523.7 crore from the stock market by...FDI edges down for first time in 7yrsForeign direct investment to Bangladesh dropped last fiscal year, the first decline in seven years, as a result of the pandemic-induced slowdown running a business...Major commodity processors more into crushing oilseedsLocal firms are steadily expanding their oilseed crushing capacities, not simply to get more oil but to also focus on a growing demand for soybean...Changing demands prove a boon for LottoThe ongoing pandemic is a blessing for Lotto Sport Italia since it enjoyed increased sales in Bangladesh for the past several months carrying out a...Interest relief for Japanese investorsBangladesh Bank yesterday lowered the interest rate of which Japanese investors can avail funds from the foreign direct investment promotion project, looking to draw more...Garment factories reverting to cash for wage payment: studyGarments factories are reverting to cash to pay wages and salaries to personnel just months once they embraced digital payments at the height of the...Port users irked by delays in bay terminal constructionChattogram port users and businesses yesterday expressed their concerns over delays in the construction of a bay terminal, the long-waited mega expansion project of the...Regulator to weigh the potential of OTC market companiesRegulator to weigh the potential of OTC market companiesThe currency markets regulator has initiated a proceed to check out the business potential of the firms...Demand for high-value crops tumblesFarmers who cultivate high-value crops such as for example broccoli, lettuce and avocado have observed their sales stop by about 50 % as a result...Vaccine rollout cheers up stock investorsThe beginning of the Covid-19 vaccine rollout in the UK and the US cheered institutional investors all over the world, allowing global stock markets to...Nearly half the state-run entities running at a lossNearly half of the listed state-run companies have been incurring losses for several years due to too little competitiveness, subsequently affecting stock investors.Of the full...Govt to take decision before next budget: KamalThe government will need a decision on whether to utilize the country's forex reserves on development projects before the next gross annual budget is passed,...Dreams going beyond bordersSoftware and mobile application developer Dream71 Bangladesh Ltd has won a global tender to build a mobile application for the parliament of East Timor.On Wednesday,...All telecom indicators but data consumption are negativeAll indicators in the telecommunication sector in Bangladesh were in the negative in the next quarter of 2020, aside from the increase in internet data...Inefficient bureaucracy now top roadblock: CPDInefficient government bureaucracy is among the most top roadblock for the improvement of the country's business competitiveness, according to the Bangladesh Business Environment Study released...Covid restrictions in Europe increase woes of garment suppliersLockdowns and tightening of coronavirus constraints before Christmas in several Europe to tackle the next wave of infections have started increasing the woes of garment...Banks to pay out another Tk 1,350cr on stocksBanks are going to invest yet another Tk 1,350 crore in the stock market by utilising Bangladesh Bank's incentive, a production that will more likely...PM for further integrating Bangladesh-India economiesPrime Minister Sheikh Hasina today suggested further more integrating economies of Bangladesh and India to consolidate the global and regional worth chains."I believe both our...Akij to move big in Bangabandhu Shilpa NagarAkij Venture, a problem of Akij Group, has expressed its intention to get Tk 3,480 crore to create 18 manufacturing conveniences at the Bangabandhu Sheikh...