Archive / Business - 2020
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BB measures to aid small businesses: FBCCIThe country's apex trade body has welcomed the central bank measures that targeted at channelling funds to smaller businesses hit hard by the coronavirus pandemic. Banks...Delinquent borrowers rush to take good thing about no interest on loans for Apr, MayThe country's banking sector has seen a declining trend of lending in recent days as nearly all businesses have put on hold their expansion plans...At last the Ctg port is looking less jam-packedThe Chattogram port is finally drifting from a standstill as the seemingly never-ending congestion both at the terminals and the outer anchorage is unscrambling carrying...Factories open in port city with lax health insurance and safety measuresWith great trepidation and no other choice, about 1.5 lakh employees in Chattogram have joined their workstation from April 26.And the factories, and there are...FY21 budget to arrive June: finance ministryThe cover fiscal 2020-21 will surely be unveiled in June following the finance ministry yesterday put all suspense to bed by sending out a press...In this moment of crisis, the poor and needy should be aided with cash support via MFSBangladesh has started working with the extreme consequences of the global coronavirus pandemic in earnest, with curtailed financial activities manifested in factory closures, cancellation of...Deadline extension for tax matters on the cardsThe government is likely to give relief to taxpayers from penalties for their inability to adhere to deadlines during the shutdown, said finance ministry officials.Officials...ICT goes all out to fight COVID-19The federal government has put its best foot forward in using ICT tools to determine the COVID-19 challenges and has recently induced board popular mobile...Cheer for maize farmers amid the gloomAn early harvest of maize has come as a stroke of luck for farmers because they are improving prices amid low imports as the coronavirus...IPDC became a maverick NBFI in 2019IPDC, the country's first private sector non-banking financial institution, swam against the tide in 2019.Its profits soared 25 % year-on-year to Tk 56 crore in...Garment workers’ salary disbursement from stimulus package starts from todayWorkers of the export-oriented industries may take a sigh of relief as banks will be disbursing their wages from today from the government's stimulus package...Govt to get paddy at Tk 26, rice at Tk 36 per kgThe federal government will buy eight lakh metric tonnes of paddy at Tk 26 per kg in today's Boro season.At the same time, the federal...Overlooked by state and law, informal personnel on the verge of starvationPeople used in the informal sector get little attention from the policymakers although they take into account 85 per cent of the country's total employed...Opening factories would do more harm than goodThe recent events in the garment sector regarding the workers' unpaid wages, layoffs, retrenchment and opening of factories without proper safety measures portray that the...Do we know how many lost livelihoods during shutdown?Everywhere, jobs are being lost on an enormous scale for measures adopted to fight medical crisis due to coronavirus, and Bangladesh is no exception.But do...IDLC profits pounded by topsy-turvy financial marketsIDLC Finance, a listed non-bank lender, took another hit to its profit this past year thanks to the bearish currency markets and volatile money market.In...Boro yield to provide some respiteFarmers are expected to bag an increased amount of boro paddy this harvesting season because of favourable weather and low pest infestation, a development that...Dutch buyers won't cancel apparel orders from BangladeshHOLLAND has assured that Dutch buyers won't cancel or suspend their orders from the readymade garment factories in Bangladesh.Dutch Minister for Foreign Trade and Development...Biman waives demurrage on storage at Shahjalal AirportThe government yesterday made a decision to waive the demurrage costs on the storage of imported recycleables of garment items piled up at Hazrat Shahjalal...AC sellers in warm waterThis was said to be a busy summer for the air conditioner manufacturers, what Bangladesh's tremendous growth momentum that is raising the purchasing capacity of...Would the store rent waiver the next time finally decongest Ctg port?The Chattogram Port Authority (CPA) has once more announced full waiver on store rent for all import containers that have arrived following the general holiday...Adverse weather ahead for banks: Moody’sThe global rating agency Moody's Investors Service yesterday gave a poor outlook for the country's banking sector for another 12 to 1 . 5 years...Walton ventilators tripped for clinical trials todayBangladesh is inching towards a significant breakthrough in its fight the coronavirus pandemic, as the Usage of Information programme beneath the government's ICT division has...A glut of fresh fruits organized at the portWith the attention on Ramadan, Jannat Enterprise, a Dhaka-based importer, earned about 250 tonnes of dates from Egypt in 20 refrigerated (reefer) containers that attained...GSK Bangladesh had a spectacular turnaround in 2019GSK Bangladesh's profits surged in 2019 despite the fact that the British multinational saw a decline in turnover because of the relief from incurring losses...Bangladesh Bank to provide half of Tk 20,000cr stimulus package for SMEsBangladesh Bank provides half of the Tk 20,000 crore stimulus package announced by the federal government for the cottage, micro, small and medium enterprises sector...Another fillip for farmersFarmers will enjoy agriculture loans at 4 % interest as the government looks to improve the growers who will feed the country amid the coronavirus-induced...Technology is a useful servant. Let’s harness it for social protection, social distancing and community testingThe government is hard-pressed in giving an answer to the raging coronavirus pandemic with every resource, instrument, policy and strategy it can get its hands...CPA pleads with importers to ease port congestionIn a last-ditch move, the Chattogram Port Authority (CPA) has started writing to importers directly asking them to take delivery of imported cargoes that contain...Nation reels towards poultry shortageThere's been a stunning slump popular for meat and eggs since coronavirus arrived on these shores. And the dizzying speed of which the lethal pathogen...Frozen food featuring its day in sunlight amid pandemicIn an instant of crisis, many touch base for comfort foods.And that is accurately how urban residents are behaving as uncertainty about the future and...Shrimp farmers in no-win situationFarmers who've cultivated black tiger shrimp for the export markets in the hope of earning profits were dealt with a massive blow by the coronavirus...No thirst for carbonated drinks even amidst hot spellThe soft drinks industry has been pounded by the outbreak of coronavirus in Bangladesh at a time when it typically enjoys mounting sales for the...Factories should be opened soon, however in phasesFactories in the export-oriented industries should be allowed to reopen slowly but surely for the sake of the economy, said business leaders and specialists yesterday.They...Layoffs unlawful during general shutdownThe Department of Inspection for Factories and Establishments (DIFE) has launched a study to find out if the garment factories that 're going for short-term...Govt now turns to AIIB for $450mBangladesh has sought $450 million from the Asian Infrastructure Investment Bank (AIIB) because of this fiscal year to meet up the emergency health expenditure and...Carriers divided over spectrum allocation top-up amid surge popularThe search for additional spectrum allocation proposal to manage the surge popular for data through the protracted shutdowns has resulted in a faction among the...Bangladesh Bank forms Tk 15,000cr fund for industrial, service sectorsThe Bangladesh Bank yesterday formed a refinance scheme of Tk 15,000 crore for the professional and service sectors, much to the relief of the cash-strapped...Garment factories should go for gradual reopening: CPDGarment factories ought to be reopened slowly but surely after ensuring health and safety of workers just because a long-term shutdown will hurt the economy,...Grameenphone can’t give up raking in profitsGrameenphone's net profits soared 25.8 per cent year-on-year to Tk 1,070 crore in the primary quarter of the entire year driven by data income and...CHT fruit growers provided short end of the stickFor those who have had a pineapple recently, there's a fairly good chance it originated from the Chittagong Hill Tracts. That's as the three districts...The expansion priorities now changed all on a suddenTo contain the pass on of the lethal coronavirus, the federal government has set up some inevitable methods like social distancing and countrywide shutdown though...Remittance to nosedive 22pc in 2020: WBRemittance circulation to Bangladesh might plunge by as a lot of as 22 % in 2020 as a result of the fallout of the global...Ice cream industry melting on a rumourHardly anyone arises at the National Parliament House nowadays to get some good fresh in the evenings.And for Md Moslem Uddin, an ice cream seller...Now 10 more industries would like helpAt least 10 industry bodies have put on both finance ministry and the Bangladesh Bank to get financial support from the Tk 5,000 crore stimulus...Shippers annoyed about extra charges for port congestionOn April 5, OEL Bangladesh, a container vessel, arrived at the outer anchorage of Chattogram port bearing a variety of import goods, including recycleables for...Companies move shareholder meetings online amid shutdownIn a first for Bangladesh, listed companies are employing virtual platforms to carry annual general meetings within their business continuity plans while avoiding mass gatherings...Another $1.25b from ADB will be of great helpBangladesh has sought an additional $1.25 billion from the Asian Development Bank (ADB) to ballast the country's purses in its fight against coronavirus and beyond. The...BB frees up Tk 3,000cr for farmers, micro enterprisesThe Bangladesh Bank yesterday unveiled a financial package of Tk 3,000 crore for underprivileged farmers, professionals and micro enterprises to keep them afloat.Marginal businesses and...Cash transfer may be the assistance the indegent need right nowEarly data on the poverty impact of the coronavirus-induced coma of the economy, as Nobel laureate economist Paul Krugman characterises it, is rather alarming. A survey...