Archive / Business - 2020
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Online system to be launched today to weed out fake audited accountsIf you enquire at the apex body of the chartered accountants about the firms and organizations its members audit and sign annually, you will get...GPH Ispat recovers from Covid-19 hiccupGPH Ispat, among the top steel manufacturers in Bangladesh, has made a turnaround in profits in the first quarter of the ongoing fiscal year.The Chattogram-based...Edible oil prices keep risingThe cost of edible oil has risen in local markets amid stockpiling by large economies due to the potential risk of a second wave of...Agent banking winning hearts of remittersAlong with deposit mobilisation and loan disbursement, banks' agent banking outlets are becoming increasingly the key point in distributing remittance in the remotest the main...BEZA sings manage 3 local companies for investment in JEZLand lease agreement was signed for the very first time with three local companies paving method for investment in Jamalpur Economic Zone (JEZ). Bangladesh Economic Zones...Private hospitals look to make a turnaround in 2021Samorita Hospital, the lone listed healthcare provider, yesterday reported a sharp drop in profit for the last fiscal year, reflecting the sluggish business in the...ACI returns to profit on higher sales of hygiene productsAs the coronavirus pandemic continues to hammer financial activities, Advanced Chemical Industries (ACI) has managed the crisis than most others since it posted an elevated...BB cuts credit risk for banks to increase stimulus fund disbursementMicrofinance institutions will take loans from three banks to make certain that the government's Tk 3,000 crore stimulus package smoothly reaches marginal businesses farmers and...Advent Pharma warned for breaching rulesThe Financial Reporting Council (FRC) has discovered that Advent Pharma breached regulations while appointing its external auditor for fiscal 2018-19.The company's board of directors appointed...Commerce ministry asks trade bodies to make sure face mask useThe commerce ministry has requested trade bodies to make sure the utilization of face masks to avoid the spread of coronavirus and weather its second...Container use made easier for EPZ factoriesThe National Board of Revenue has managed to get easier for businesses in the country's export processing zones to use import-export containers, a move that...Jute Spinners posts loss in Q1Jute Spinners announced losses for the first quarter of the existing fiscal year, a development which might have tamed the company's fluctuating stock price.The jute...How eco-fashion offers a renaissance for different Tunisian brandsThe sun is setting by the time Tunisian designer Chems Eddine Mechri reaches the breezy, seaside town of Mahdia. He has spent half your day...Bangladesh adds 3.3cr internet surfers in a decadeThe number of internet users in Bangladesh expanded by 3.3 crore between 2010 and 2019, bringing another 20 % of the populace online, according to...A brand from Bogura bringing both fame and fortuneA factory in Bogura town is certainly going above and beyond to produce a make of fame and fortune since it is manufacturing world-class digital...Economists, businesses for second round of stimulusEconomists and businesspeople yesterday suggested that the federal government float a second group of stimulus packages, reasoning that the country's economical recovery from the fallouts...Frozen food industry emerges as a bright spot amid pandemic gloomThe ongoing Covid-19 pandemic has forced the world to adapt to a fresh reality. Many consumers who wish to spend time at restaurants and cafes...Wage rate ticking upWorkers in Bangladesh remain making do with lower wages compared to the pre-pandemic level as the ongoing monetary growth has not translated into higher incomes...WhatsApp launches payment service in IndiaWhatsApp today announced it really is starting its payment services across India."Starting today, persons across India can send money through WhatsApp. This secure payment experience...Submarine Cable overstated performance in financial statements: auditBangladesh Submarine Cable Company Ltd (BSCCL) has overstated its earnings per share (EPS) and net asset value (NAV) without issuing stocks against the share money...Govt eyes self-sufficiency in onion productionThe federal government has taken an initiative to improve onion production in the united states by 10 lakh tonnes next three years so that you...Healthcare Pharma going all outHealthcare Pharmaceuticals Ltd (HPL) will invest about Tk 220 crore ($25.68 million) to establish large-scale active pharmaceutical ingredient (API) and formulation facilities to meet their...Mobile internet surfers cross 10cr markThe number of men and women using internet on the mobile phones in Bangladesh crossed the 10-crore mark in September as customers' shift towards the...36 textile mills abused duty benefit while importing capital machineryThirty-six textile mills, situated in Narsingdi, imported 30,350 power looms in the last five years to create clothes under a one-percent concessionary duty benefit for...NBR to develop e-tax return filing system with own resourcesThe National Board of Revenue (NBR) has made a decision to develop an online tax return filing system using its own resources in order that...Govt seeks 85pc rise in power transmission project costThe government will seek approval for the first revision of the Aminbazar-Maowa-Mongla Transmission Line Project today since it increases the cost by 85 per cent...Imported goods released thru signature, website forgeriesA group of folks are forging the signatures of officials of the commerce ministry, the Department of Livestock, Atomic Energy Commission and the Department of...Exports drop on faltering recovery of apparelBangladesh's merchandise exports declined 4.08 % year-on-year to $2.94 billion in October because of the faltering recovery of garment shipment from the coronavirus pandemic, official...Daraz continues growth amid pandemicOn November 11 this past year, online shopping platform Daraz sold Tk 8.5 crore-worth products within the first 45 minutes of a 24-hour shopping event...Banks get additional time to disburse loans among small enterprisesBangladesh Bank yesterday extended the deadline for CMSME loan disbursements under its Tk 20,000 crore stimulus package before end of November as some lenders have...Berger to create second metal container plantJenson & Nicholson (Bangladesh), a wholly owned subsidiary of Berger Paints Bangladesh, plans to get Tk 91.48 crore to create its second unit to produce...Bashundhara bitumen goes into production this monthBangladesh's first dedicated bitumen plant established by Bashundhara Group at a cost of around $143.7 million is ready to begin commercial production towards the end...IFC gives Pran another $25m loanInternational Finance Corporation (IFC) has provided just one more $25 million loan to Pran-RFL Group for this to expand one of its concern's capacity to...HSBC executes country’s first cross-border blockchain LC transactionHSBC Bangladesh has executed the first-ever cross-border blockchain letter of credit transaction in Bangladesh, in a development that could reduce LC processing time from the...Kamal seeks IFC’s support to create Bangla bond vibrantFinance Minister AHM Mustafa Kamal has requested the International Finance Corporation (IFC) to take initiatives to help make the Bangla bond vibrant.He developed the request...Joint venture to build Tk 2,000cr cancer hospitalJapanese firm Ship Healthcare Holdings together with Bangladesh's Aichi Medical Group will create a 1,000-bed dedicated cancer hospital and research centre in Dhaka at a...Another Tk 7,000cr for large industries, services sectorThe central bank yesterday expanded how big is the stimulus package for large industries and services sector companies to help make the low-cost funds designed...A harder squeeze on poor as coarse rice going beyond reachThe retail price of coarse rice rose Tk 15 per kilogram within the last one year as a result of higher prices in the international...USAID, US private sectors sign MoU to help female workers influenced by pandemicUSAID and a consortium folks private sector have signed a deal to greatly help alleviate the hardships of female employees in their supply-chains damaged by...Forex reserves hit new record of $41.03 billionForex reserves have hit a fresh record of $ 41.03 billion (USD), according to a weekly report of Bangladesh Bank.Foreign reserves hit this new high...Unilever Consumer Care sees drop in Q3 profitsUnilever Consumer Care, formerly referred to as GlaxoSmithKline, witnessed a drastic year-on-year fall in profits in the July-September quarter of the year because of low...Back stimulus packages for small tradersPrime Minister Sheikh Hasina yesterday asked private banks to supplement the government's credit programme for small traders under its stimulus packages announced at offsetting the...Banks are now able to lend more to trade-based small enterprisesBanks and other finance institutions is now able to lend more to trade-based cottage, micro, small and medium enterprises (CMSMEs) as the central bank yesterday...Loans from export dev fund to be cheaperBangladesh Bank has brought down the interest on its export development fund (EDF) even more so that you can help exporters get over the financial...Local companies play a major role in economical developmentWith a long and successful career near the top of several multinational companies (MNCs), Reazul Haque Chowdhury took the helm of Runner Automobiles in November...Titas Gas faces Tk 736cr shortfall in pension fundThe state-run Titas Gas includes a provision shortfall of Tk 736 crore in its pension fund, according to the company's audit report.Besides, the listed gas...Mobile data speed: Bangladesh only before Afghanistan in South AsiaBangladesh has fared badly in mobile data speed, ranking below all South Asian nations except for Afghanistan, at a quality report on global mobile and...Pandemic casts a gloom on greenfield investmentThe value of greenfield investment project announcements - an indicator of future foreign direct investment trend - fell by 78 percent in Bangladesh in the...Fabric Sourcing, Creative Motivation Top Kingpins24 Amsterdam AgendaThe denim industry will gather online again in a few days for Kingpins 24, a four-day digital denim industry event organized by Kingpins Exhibit. Panels...Regent Textile to obtain Legacy Fashion for Tk 83crRegent Textile Mills is going to acquire a 99 % stake in Legacy Fashion for Tk 83.01 crore to expand its business portfolio.The worthiness was...