Archive / Business - 2020
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Janata MD in the line of fireA central bank probe body has recommended its higher-ups take punitive measure against Janata Bank Managing Director Md Abdus Salam Azad for his alleged involvement...Hospitable business climate the Holy Grail of BIDAClimbing up the World Bank’s definitive Ease of Doing Business index is Bangladesh’s first priority as a solid performance in the ranking would accelerate the...Majority of CEOs expect global economy to cool: PwC surveyMore than half of chief executives in an annual survey by PwC expect a slowdown in global economic growth this year, in marked contrast to...Bank Asia gets new DMDSM Iqbal Hossain has recently been promoted to the post of deputy managing director of Bank Asia.He was previously the senior executive vice president and...Telcos fined Tk 4.71cr over illegal call terminationThe telecom regulator is set to slap all four mobile operators with fines after their SIMs were found being used in illegal call termination.Call termination...Govt failing to create jobs for youths fast enoughThe government will be able to create only half of the 3 crore jobs it promised to generate by 2030 at the current pace of...NEW MONETARY POLICY: Nothing really new except renewal of old worriesThe Bangladesh Bank (BB) has adjusted the monetary programme for the current fiscal year. Although the adjustment is limited to just one component, it is...BB joins in to curb Ramadan price hikeThe central bank yesterday instructed banks to settle letters of credit for 17 essential commodities promptly for uninterrupted supply during Ramadan.As per the Bangladesh Bank...Diversify exports at hasteExport concentration on just one product, garment, and a few destinations may cause economic vulnerabilities in the economy, said Shams Mahmud, the newly elected president...SUNFLOWER PRODUCTION GAINS TRACTIONThe production of sunflower plants, a great source of vegetable oil and livestock feed, is gaining popularity in Bangladesh. The high salinity tolerant plant can...UK’s Javid aims to double UK growth after BrexitFinance minister Sajid Javid is aiming to roughly double Britain’s underlying rate of economic growth after it leaves the European Union, but will not champion...Master plan for sustainable tourism developmentThe government is working to prepare a detailed master plan to ensure sustainable development of the local tourism industry.“If properly implemented, the master plan will...Risky loans soaring. BB’s plan? Hide figure.The central bank is planning to sweep the bulging stressed assets under the rug when it publishes its annual financial stability report in April such...Foreign brands want easy tariff rules to expand in BangladeshMany multinational clothing brands, which source billions of dollars of garment items from Bangladesh, have recently expressed their willingness to open their outlets in the...Should Bangladesh copy Aadhaar?Aadhaar is a one-time identity card issued by the Unique Identification Authority of India (UIDAI) free of cost for all residents of India, making it...Bangladesh receives $957m remittance in 15 daysExpatriate Bangladeshis sent around US$ 957 million remittances during the first fifteen days of January in the fiscal 2019-20.The country received around $843 million remittances...Govt officials stand in way of digitalisationGovernment officials’ overbearing attitude stands in the way of seamless flow of foreign investment and materialising the dream of digitalisation, said a former senior secretary...Accord to finally pack bags in MayThe Accord on Fire and Building Safety in Bangladesh, the platform of more than 190 mostly Europe-based retailers formed after the Rana Plaza building collapse,...BDCom brings high-speed internet at Tk 300 a monthPeople can now use unlimited and high-speed internet at only Tk 300 a month as BDCom Online Ltd yesterday launched a package of broadband internet...Bangladesh falls two notchesBangladesh has fallen two notches in the World Bank’s Women, Business and the Law 2020 study, meaning the country will have to go a long...Gamblers having a field day at bourseAt a time when the premier bourse and well-performing stocks are sinking, at least six stocks are swimming against the tide.Between January 1 and 15,...What the finance minister should watch out forThe government has taken a firm decision to enforce the ceiling on lending interest rate from April 1, 2020. The 9 percent maximum lending rate...BB to relax rules for unintentional defaultersThe loan payment process will be eased for unintentional defaulters if they have valid grounds for their failure to clear the loans, said Bangladesh Bank...Govt moves to use surplus funds of state organisationsThe government yesterday placed a bill in parliament with a view to bringing the surplus money held by 61 state agencies to the national exchequer...BB makes easier digital marketing paymentBangladesh’s e-commerce sector has received a major boost after the central bank opened up an opportunity for them to make payment to social media giants...Telecom complaints double, one-third solvedThe Bangladesh Telecommunication Regulatory Commission received more than 14,000 complaints last year, almost double from a year ago, because of the inclusion of new options...Electricity production at Payra power plant beginsElectricity production at the coal-fired Payra thermal power plant started in Patuakhali’s Kalapara upazila on Monday.The ministry of Power, Energy and Mineral Resources informed that...Revisiting the devaluation debateThe debate on taka devaluation is a debate on whether the exchange rate is currently overvalued. How do we know?There are three common reference exchange...BIDA to roll out the red carpet for foreign investorsBIDA has shelled out Tk 2 crore to set up a lounge at the Hazrat Shahjalal International Airport as part of its efforts to woo...Tannery estate needs quick upgrade for better leather pricesThe government should facilitate quick installation of the central effluent treatment plant at the Savar Tannery Industrial Estate to ensure better prices for Bangladeshi leather...Foreign companies at DITF see Bangladesh as a potential marketForeign participants at the Dhaka International Trade Fair (DITF) eye Bangladesh as a potential market given the country’s rising per capita income and vast consumer...146 educational institutions get govt Wi-FiThe government yesterday launched Wi-Fi service at 146 public educational institutions in 23 districts, to be availed free of cost for the first two years. This...Private banks ready for Basel IIIMost of the private banks have raised their capital base in line with the Basel III requirements three months prior to the deadline set to...Small vendors making the best of winterThe cold surely gives a boost in sales at corner tea stalls providing Bangladeshis a bonus excuse at having steaming cups of their caffeine fix....Bangladesh must comply with ILO standards for GSP PlusThe European Union wants a guarantee from Bangladesh that its factories would ensure fair practice and comply with the International Labour Organisation standards if the...DSE MD’s recruitment gamed, allege directorsKazi Sanaul Hoq’s appointment as the managing director of the Dhaka Stock Exchange has run into a spot of controversy after a group of directors...Purbachal’s water supply to be under private sectorWater supply in the Purbachal New Town in the outskirts of Dhaka would be provided by a private sector player, in a development that can...Regent Airways confident of turnaroundRegent Airways, which is now operating with just two aircraft, yesterday vowed to bounce back from its current predicament by adding four more aircraft to...Edible oil prices hauled up by VATThe imposition of value-added tax (VAT) and advance tax (AT) in the value chain of edible oil are contributing to the spike in prices of...Farm mechanisation gets a shot in the armFarmers may get 50 to 70 percent incentive while buying agricultural machinery and also avail low-cost loans, as the government looks to pivot to farm...Gold, oil prices retreat, shares rebound in Asian tradingShares advanced in Asia Tuesday following modest gains on Wall Street despite caution over rising tensions between the U.S. and Iran.U.S. officials were bracing for...Bullet train for only Dhaka-Ctg route: PMBangladesh will have only one route for bullet train and it will run between Dhaka and Chattogram, Prime Minister Sheikh Hasina said yesterday.The premier shared...Trade deficit tapering offTrade deficit narrowed 79.51 percent in November to $1.06 billion from the previous month on the back of sliding imports -- a worrying development as...Inflation crawling upBangladesh’s average inflation crept up four basis points in 2019, which saw fluctuations throughout the year and a skyrocketing of the price of onion, an...Global tensions fuel edible oil pricesEdible oil has seen a 20 percent rise in domestic prices in the last one month thanks to their soaring international rates, which will surely...Dozen banks face capital shortfallSeven state-run banks have failed to meet the minimum capital requirement, meaning they need further taxpayer-funded recapitalisation to stay afloat.The latest data from the Bangladesh...Ring Shine crash landsAbdullah Hujaifah, a retail investor, was terribly excited when his name was drawn from the lottery for Ring Shine Textiles’ initial public offering (IPO).This was...BTRC’s third attempt to audit BanglalinkBangladesh Telecommunication Regulatory Commission (BTRC) yesterday called for expression of interest (EoI) to conduct financial and technical audits of Banglalink, its third attempt to do...Widening revenue shortfall raises alarmRevenue collection deficit from target widened further in November despite the pace of overall collection growth last month compared with October, according to provisional data...5G, data security to have greatest impact on businessFifth-generation (5G) mobile service and data security are the two major technologies Bangladeshi companies believe will have the greatest impact on businesses in the next...
