Archive / Business - 2020
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US oil prices drop below zero for the very first time in historyWall Street fell sharply on Monday after US crude futures turned negative for the very first time ever sold, underscoring the chaos the coronavirus pandemic...Australia to make Google and Facebook pay for news contentGlobal digital platforms Google and Facebook will be required to purchase news content in Australia, the federal government said on Monday as the coronavirus pandemic...AIIB approves $170m loan to improve Bangladesh’s sanitation infrastructureAbout 1.5 million residents in Dhaka will reap the benefits of improved sanitation services following the approval of a $170 million loan by the Board...Nagad to fall in line finallyNagad, a mobile financial service agency of the Bangladesh POSTOFFICE and a private entity, has received an interim licence from the Bangladesh Bank, within its...Exporters are a bundle of nerves nowBangladesh's export earnings await an enormous blow in the coming months as the global coronavirus pandemic has wreaked havoc on orders and shipment while sending...Govt should join hands with non-state actors in fight against COVID-19The government should synergy with the non-governmental organisations in its fight against the raging coronavirus as the non-state actors have an appreciable occurrence in the...Logistics industry rattledThe logistics and freight forwarding business in Bangladesh has been devastated by the global coronavirus pandemic, which has resulted in a nosedive in transportation of...Government support may be the crying need of the ICT sector nowThis season started with quite disturbing news for your world.The coronavirus pandemic that started from China did not remain confined to that country, but rapidly...Nimble-footed Reserve Bank of India shows Bangladesh Bank the wayAdversity brings out the very best in man, William Shakespeare once said.And just how that the Reserve Bank of India, the neighbouring country's central bank,...GDP growth to plunge to 33-year low this yearThere is absolutely no denying that 2020 is a write-off for the high-flying Bangladesh economy, shot right down to the bottom by the novel coronavirus.But...Importers shunning deliveries, creating Ctg port slowdownThat something is amiss becomes evident right at the gates of the Chattogram port: there are no long queues of goods-transporting vehicles. Instead, only one...And their personnel join the frontlineA lot of the workplace in Bangladesh has turn off, sending an incredible number of employees home to hold back out the coronavirus pandemic.However the...Global airlines' estimated losses due to coronavirus rise to $314b: IATAEstimated global airline losses from the coronavirus pandemic have climbed to $314 billion, 25% more than previously forecast, due to the severity of the financial...PG Denim and Rudolf Group Develop Antimicrobial Textile ConceptDespite the global pandemic and the Italian government’s decision to turn off industrial production, two players from Italy’s denim sector are joining forces to build...Roadblock in choosing full digital wage payment overnightOnly 9 % garment factories pay wages to workers through mobile financial offerings (MFS) and 4 per cent through banks, according to a new study,...Families need ‘credit rating support due to remittance inflow halted’An organization features expressed grave concern that migrant Bangladeshi personnel, particularly in Middle Eastern countries, cannot send remittance due to shut down of banks following...Producing the bell toll intended for the poor and the vulnerableAre we doing more than enough to support households reliant on labour profits from the formal and informal sectors found in this time of distress?The...Govt’s Tk 5,000cr lifeline for farmers all setThere seems to be finally some light towards the end of the tunnel for the agriculture sector as the central bank and agriculture ministry have...Banks to remain closed in lockdown areasBangladesh Bank has ordered halting businesses of bank branches found in areas place under lockdown by the government through the general holidays to avoid the...Fiscal inclusion agenda gets a good startThe central bank's order to open bank or mobile phone financial service (MFS) makes up about disbursing the salaries of employees of export-oriented factories from...Bangladesh Lender cuts repurchase price and reserve ratio to inject liquid money into economyThe central bank today cut both policy rate and cash reserve ratio (CRR) once more to inject liquid funds into the market to push through...Coronavirus serves up a surplus of hilsha in the market this BaishakhThe rapid spread of coronavirus in Bangladesh has shattered traders' hopes of a sales bonanza of hilsha fish marking the celebration of Pahela Baishakh, the...2019 was a stellar year for Standard Chartered Bangladesh2019 was a stellar year for Standard Chartered BangladeshStandard Chartered Bangladesh logged in 14.33 % higher profits for 2019, marking the next consecutive year of...Bangladeshis adopting e-commerce faster than ever amid pandemicWith the bad comes the nice as they say and this could prove true so far as the coronavirus pandemic and Bangladesh's e-commerce industry can...Banks to seek help fulfil gigantic stimulus packageBanks have decided to call upon the central bank to take more policy measures to allow them to implement the lion's share of the government's...Prioritisation, selection and distribution of the stimulus packageOn 5 April, the honourable prime minister has announced the next stimulus package in view of addressing the adversity of coronavirus on our economy.This financial...Bangladesh urges global partners to honour conditions of RMG purchasing contractsBangladesh and five other countries have urged global brands, retailers and traders to consider all potential impacts on employees and smaller businesses in the supply...Govt battling an unknown quantityBangladesh has so far announced a $8.56 billion stimulus package that is nearly three times the original projected financial losses from the coronavirus pandemic.Earlier found...A glut of freight waits on the shipsGradual delivery of goods has generated space shortage at the Chattogram port and a long queue of vessels at the external anchorage within the last...Stimulus package geared towards the long street to normalcyThe Tk 72,750 crore package announced by the prime minister promises to supply support to small and large businesses in industry and services to tide...Steelmakers facing cocktails of challengesSteel manufacturers are actually bracing for massive losses seeing as the coronavirus pandemic features disrupted the import of recycleables and production -- a expansion which...PM’s stimulus package to save lots of economy, livelihood: FBCCIThe Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) on Sunday welcomed the stimulus package of Tk 72,750 crore to greatly help mitigate the...All shops in 12 cities, district towns to be closed early; pharmacies out of purviewAll shops and business establishments including eateries in 12 cities and district towns will close early each night to limit the spread of coronavirus.Local administration...Stimulus comes at the right timePrime Minister Sheikh Hasina has realised the value of the stimulus package for the economy at the proper time, like she did in previous cases...Qatar Airways helps a large number of Germans reach homeQatar Airways has helped thousands of Germans reach home from different countries amid the worldwide flight cancellations and travel restrictions enforced after the novel coronavirus...Banks asked never to charge late costs for credit cardsBangladesh Bank yesterday asked lenders not to impose any late payment service fees on credit cardholders, who have found it difficult to clear the bills...Telcos seek free spectrumCellular phone operators have asked the telecom regulator to allocate some spectrum for free for the moment, reasoning that their network had become busier for...Global brands promise to the stand by position apparel suppliersAt least 15 international apparel retailers and brands have up to now assured Bangladesh's garment manufacturers that they can accept shipments of products that were...Moody's lauds Indonesia's economic response but virus containment efforts lagIndonesia's response to support the COVID-19 outbreak has been slower weighed against some other countries in the region despite policies to limit the financial and...Tk 3,500cr yarn, fabrics accumulate in millsYarn and fabrics worth Tk 3,500 crore have piled-up in a few 250 spinning and weaving mills due to the ongoing movement restriction to curb...BB asks exporters to use for loans from stimulus package immediatelyExport-oriented industries will have to make an application for loans immediately if they would like to get funds from the Tk 5,000 crore stimulus package...World Bank sees 'major global recession' due to pandemicWorld Bank Group President David Malpass has said the rapidly spreading COVID-19 pandemic was expected to result in a "major global recession" that could likely...Bangladesh to reduce 0.2-0.4 % GDP growth rate due to virus outbreak: ADBAround 0.2 per cent to 0.4 % of Bangladesh's Gross Domestic Product (GDP) growth rate could be lost due to Covid-19 outbreak, as forecasted by...Govt needs to do more for SMEs, domestic industriesThere is no question that the export-oriented sectors, particularly garment, have been dealt a cruel blow by the global coronavirus pandemic. Which is why, Prime...Homegrown ventilator goes on clinical testing in a few daysThe Military Institute of Science and Technology (MIST), an engineering university run by the Bangladesh MILITARY, has designed a ventilator, in the most positive development...Flower industry wiltingIf you are actually in the southwest village Godkhali or its neighbourhood Panisara, you will see there is absolutely no dearth of colours from the...Now more buyers assure garment suppliers of taking goodsMany international clothing retailers are coming up with assurances to help garment suppliers by taking the shipment of goods that contain already been produced or...Running out of ventilators is a genuine possibility. And Walton comes to rescueFor weeks now, the country has been obsessed with one group of numbers: just how many confirmed cases of coronavirus and just how many have...The 9pc lending rate from the following month seems unlikelyBanks' capacity to provide loans at 9 % interest has shrunk even prior to the government-fixed ceiling is implemented as both individuals and corporate institutions...Infrastructure project works grind to a haltThe coronavirus pandemic has thrown a spanner in the works of most major infrastructure projects, a turn of events that's poised to delay implementation and...