Archive / Business - 2020
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Pandemic may cast a pall on FDIThe rising trend in foreign direct investment (FDI) for Bangladesh may decelerate this year as a result of economical fallout of the coronavirus outbreak, authorities...State enterprises hand govt Tk 16,746cr of their surplus fundsState-owned enterprises possess deposited Tk 16,746 crore to the national exchequer since laws were passed in the very beginning of the year to make it...Don’t provide service to unregistered textile firmsThe central bank yesterday instructed banks never to provide any banking services to unregistered textile companies to safeguard the country's image.Some textiles companies are actually...Govt won’t discriminate between foreign and domestic investors: KamalThe Bangladesh government won't discriminate between foreign and domestic investors when providing investment facilities as both sectors are of equal importance, according to Finance Minister...Tangail fish farmers suffer Tk 25cr losses for floodsA grim future awaits almost 5,000 fish farmers of Tangail whose investments were washed away in recent floods in all save among the district's 12...MFS transactions hit all-time saturated in JulyTransactions through mobile financial services hit an all-time high of Tk 62,999 crore in July as an increasing number of people, businesses and government agencies...ADP implementation off to a slow startDevelopment expenditure fell 17.64 % year-on-year in July as the coronavirus pandemic continued to hammer the economy, official data showed.The government managed to spend Tk...Govt measures behind surge in remittance: KamalFinance Minister AHM Mustafa Kamal yesterday gave credits to the government's 2 % cash incentive for the recent surge in remittance.Migrant personnel sent home $1.96...Agriculture sector’s resilience on the wane: What to do?The resilience of the domestic agriculture sector mainly of the crop sector appears to be in a weak state. Without proper policy intervention the pressure...Govt to get LNG from spot market for the very first timeThe government has made a decision to buy liquified gas (LNG) from the spot market for the very first time - a move that could...There is a nervous tension at HeidelbergCement headquartersHeidelbergCement Bangladesh, the German cement maker, has been incurring losses because the second quarter of 2019 due to fierce competition available in the market, higher...Cars ‘made in Bangladesh’ along the wayWith just a 12 months to choose golden jubilee celebrations of independence, Bangladesh is coming to marking an epoch ever sold by manufacturing its make...Agro industries contain the key to economic recoveryUtilising artificial intelligence and skilled manpower in Bangladesh's agro-based industry will be essential for ensuring a speedy economic recovery and food security through the post-pandemic...Elderly, disabled and widows to get safety net allowances through MFSThe federal government plans to disburse social safety net allowances among elderly, disabled and widows through mobile financial services -- a move that will help...Ctg Port 58th among 100 busiest portsChattogram sea port has advanced six steps in a year in terms of gross annual traffic of containers in 2019, according to Lloyd's List, the...Bangladesh still among top sourcing destinationsBangladesh remains one of the top sourcing destinations after China for international clothing retailers and brands even through the coronavirus pandemic as a result of...Prime Bank to can get on agent banking bandwagon this yearPrime Bank plans to step in to the agent banking arena this season as part of its push to widen footprint and cut reliance on...Australian biotech firm to create API plant at BSMSN for $30mAustralian biotechnology company HA TECH will invest up to $80 million, or roughly Tk 700 crore, to determine a large-scale active pharmaceutical ingredient (API) manufacturing...Higher investment in treasury bills saves the day for Rupali BankDespite a significant drop in interest income, Rupali Bank's profits jumped last year as higher investment in treasury bills and bonds saved your day.The lender's...Customs valuation rules yet to take effect twenty years onThe National Board of Revenue is yet to implement customs valuation (determination of the value of imported goods) rules although those were formulated twenty years...Robi beats pandemic blues as its profit requires a leap in second quarterThe second quarter of 2020 will possibly decrease in Robi's annals as one of its pluckiest. The global coronavirus pandemic was at its ferocious worst...Runner brings Bangladesh’s first 165cc motorcyclesRunner Automobiles appears to be on a roll. Hot on the heels of its announcement of bringing the famed off-road motorcycles of KTM to Bangladesh,...Food office to examine stock of rice, paddy to tame rising pricesWith the soaring prices of rice affecting the indegent, the food ministry has taken steps to evaluate the stock of food grain at millers and...Like banks, NBFIs can now maintain loan status until SepThe central bank has pushed back the deadline for loan status classification by non-bank finance institutions to 30 September, giving more breathing room to borrowers...Kotha iphone app spreads wings to Sri LankaKotha, Bangladesh's maiden social and lifestyle app, is set to go on a glorious maiden voyage from the Bay of Bengal to Indian Ocean's island...US seeks list of apparel brands that cancelled ordersThe US Trade Representative (USTR), the principle trade negotiator for the Trump administration, has sought a set of retailers that cancelled work orders with Bangladeshi...Uber desperate to get its Moto service ready to go againWith the ongoing coronavirus pandemic continuing to propel contactless transactions, Uber's recent partnership with bKash on enabling automatic trip-end payments is paving the way for...Rawhide traders down in the dumpsSeasonal traders of rawhide have already been left disappointed by this year's sales as the price for untanned leather has remained low for just two...Kamal lets rip at CPD for questioning GDP figureFinance Minister AHM Mustafa Kamal yesterday ripped in to the observations of the Centre for Policy Dialogue (CPD) about the country's financial growth for the...Banks dive into Treasury bills, bonds as interest income fallsListed banks increased their investment in government and corporate bonds, securities and stocks in the second quarter of 2020 to offset the loss in interest...Cargo unloading at Ctg outer anchorage halted for rough seasUnloading of imported bulk cargoes from vessels at the outer anchorage of the Chattogram port has remained suspended for the last three days until yesterday...Can US retail sector’s ‘V-shaped’ rebound jump the fiscal cliff?Even with nearly a fifth of the labour force collecting unemployment benefits in July, Americans continued spending with relative gusto, driving retail sales back again...Property sector becoming more optimistic of a reboundBangladesh's property sector will hopefully be able to cope with the ongoing coronavirus pandemic as instalment collection on previous sales began to pick up following...Record 8pc jump by a third of DSE stocksA third of the stocks listed in the Dhaka STOCK MARKET (DSE) yesterday made a whopping leap greater than 8 per cent, a growth market...Loan write-offs touch right down to a three-year lowLoans written off by banks plummeted to a three-year low in the first quarter of 2020 as lenders' capacity to keep 100 per cent provisioning...StanChart executes Bangladesh’s first-ever blockchain LC transactionStandard Chartered has executed the country's first-ever blockchain transaction by issuing a letter of credit for Viyellatex, in a development that may go on to...AB Bank puts Aman Feed’s factory and land on sale for failure to pay loansAB Bank has put the factory of Aman Feed and its own collateral on sale for its failure to pay Tk 268.40 crore in loans...Cheap rawhides have nothing to do with high prices of leather goods: expertsThat very low prices of rawhides will be able to keep prices of leather goods such as for example footwear and bags from going abnormally...Hyundai Names Self-Driving Joint VentureHyundai said Wednesday that it has given the name Motional to a jv with American autonomous technology company Aptiv. Both inked the offer in March...Japan offers $3.3b for seven key projectsJapan International Cooperation Agency (Jica) will provide Bangladesh with $3.3 billion (¥338.25 billion or Tk 26,850 crore) in official development assist with help implement seven...Bourse revving up to fire on all cylindersThe stock market has started to bounce back despite the ongoing pandemic thanks mainly to investors' growing confidence in the brand new leadership at the...BIDA makes three more additions to its One-Stop Service portalInvestors seeking to conduct business in Bangladesh is now able to avail three more public services at the One-Stop Service (OSS) portal in the web...Chinese firm to invest $300m to create plasma fractionation plantThe good news on the monetary front has began to roll in once more, with the latest being China-based Oryx Biotech's announcement to get $300...Pandemic doubles extreme povertyThe recent nationwide closure of most economical activities for two-and-a-half weeks has doubled extreme poverty in Bangladesh, raising the amount of the country's ultra-poor from...State firms call for guidelines in how to set the value for share money depositListed businesses have called upon the regulators to introduce guidelines how to set the share value that the companies have to issue against share money...TJMaxx yet to sharp dues of Bangladeshi suppliersNews of garment work buy cancellations and holdups and deferred obligations became commonplace when pandemic struck.But as time passes, the brands and vendors came to...Mining at Maddhapara to resume after 132-day closureMaddhapara Granite Mining Company (MGMCL) is getting ready to resume operations after remaining closed because the imposition of the countrywide shutdown on 26 March.However the...Cotton imports tipped to come back to pre-pandemic levels by year-endCotton imports witnessed a slump for the very first time in over ten years last fiscal year due to a fall popular from local mills...NRBs can now park their funds in FDR, DPSNon-resident Bangladeshis (NRBs) is now able to keep their funds in the kind of Fixed Deposit Receipts (FDR) and Deposit Plus Schemes (DPS) with local...Dairy farmers’ latest blow after pandemic: floodsRajib Miah, a dairy farmer from Shahjadpur upazila in Sirajganj, thought the worst was behind him when the federal government lifted the countrywide shutdown on...