The country’s GDP growth in the current fiscal will plunge to 5.8 percent for lack of growth in export, domestic consumption and investment, claimed a World Bank (WB) report launched here on Saturday.
Category: Business
DSE to seek tax exemption for five years
Dhaka Stock Exchange (DSE), the country’s premier bourse, will seek a five-year tax exemption in an effort to make it a profitable and attractive organisation to investors after demutualisation, DSE leaders said here on Saturday.
Forget past, work together in New Year: DCCI
Dhaka Chamber of Commerce and Industry (DCCI) on Saturday said the two major political parties should put behind the past and go forward to bring political stability in the country through dialogue.
Tea export may face setback after 3 yrs
Country’s tea export may face a severe setback after three years if necessary steps are not immediately taken for increasing its production.
Budget should be pragmatic: Dr Salehuddin
Putting utmost importance to implementation of the budget, former Bangladesh Bank Governor Dr Salehuddin Ahmed said the next budget would have to be pragmatic and should focus more on domestic resource mobilisation and attracting Foreign Direct Investment.
Toyota, Honda, Nissan for air bag recall
Toyota, Honda and Nissan are recalling more than 2 million vehicles globally for an identical problem with air bags on the passenger side whose inflator may burst, sending plastic pieces flying.
72 female workers to go to Hong Kong soon: Minister
Expatriates’ Welfare Minister Khandker Mosharraf Hossain said 72 female workers will go to Hong Kong at the end of this month as part of first phase of manpower export to the country.
3 gas pipeline projects approved
The Cabinet Purchase Committee on Wednesday approved seven proposals, including the import of 50,000 metric tons of wheat.
Biman to increase fare on 7 routes
Biman Bangladesh Airlines is likely to increase ticket fare in seven routes to recover national flag carrier from huge loss.
Bismillah Group Scam: ACC to quiz bank officials
The Anti Corruption Commission (ACC) will quiz 12 officials of Jamuna Bank Limited in connection with the alleged swindling of Tk 1,100 crore from five commercial banks by Bismillah Group, a terry towel producer.
US$ 297mn foreign loan approved
The Board of Investment scrutiny committee for approval of private sector foreign borrowing on Tuesday cleared the borrowing of US$ 297 million foreign loan against 15 private sector projects.
BGMEA worried over Ctg power crisis
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Tuesday voiced grave concern over the prevailing power crisis in the region of Chittagong.
Biman to reopen 2 international routes
The Biman Bangladesh Airlines has decided to reopen two international routes from the next month.
Tullow BD sold to KrisEnergy
Independent oil and gas exploration and production company Tullow Oil PLC has sold share capital of Tullow Bangladesh Ltd (TBL) for $42.35 million to KrisEnergy Asia Holdings BV.
Spain-Bangla joint venture investment likely
Messrs Global Labels (Bangladesh) Ltd, a Spain-Bangladesh joint venture company, will establish a garment accessories industry in Dhaka Export Processing Zone involving US$ 2 million.
‘6 million jobs lost in EU since 2008 economic crisis’
European Union economies have shed almost six million jobs since the global economic crisis struck in 2008.
Asia stocks muted on Koreas, bird flu jitters
Asian stock markets were mixed Monday amid concerns about tensions on the Korean Peninsula and bird flu in China, but European stocks rose as traders looked ahead to corporate earnings season in the U.S.
Money ‘being shifted to saving schemes’ from capital market
The freefall in the capital market has prompted many individual investors to switch over to various saving schemes, increasing the revenue flow to the national exchequer.
‘Telenor will invest in the 3G mobile’
Telenor will invest in the 3G mobile facility in Bangladesh through Grameenphone, the visiting Norwegian Trade and Industry Minister Trond Giske has said.
Make missions effective to boost export: DCCI
Dhaka Chamber of Commerce and Industry (DCCI) on Sunday urged Foreign Minister Dr Dipu Moni to take initiatives for making Bangladesh missions abroad more effective and vibrant for expanding the country’s export market and boosting export volume.
Muhith doubtful of reaching GDP growth target
Citing looming uncertainties in the country’s political scenario, Finance Minister AMA Muhith on Sunday expressed his doubt about reaching the GDP growth target of 7.2 percent in the current fiscal year (2012-13).
Hartal cost RMG sectors Tk 250cr so far
Voicing deep concern at the fresh spell of countrywide shutdown calls, apparel sector’s trade bodies — BGMEA and BKMEA — on Sunday said the exporters had to count additional losses of around Tk 250 crore because of air shipments due…
Norwegian minister visits GPHouse
Norwegian Trade and Commerce Minister Trond Giske on Saturday visited GPHouse, the corporate headquarters of Grameenphone.
Keep new enterprises out of tax net for 3 yrs: DCCI
Dhaka Chamber of Commerce and Industry (DCCI) on Saturday urged the National Board of Revenue (NBR) to keep new entrepreneurs and their businesses out of tax net for the first three years for their hassle-free growth and helping the economy…
Japan’s Nikkei tops 13,000 for first time since 2008
Japan’s stock market has hit its highest level in almost five years, after a central bank stimulus plan raised hope of economic revival.
German industrial orders rebound in February
Industrial orders in Germany rebounded in February, a promising sign for first-quarter growth in Europe’s biggest economy after an unexpected drop the previous month.
Tri-nation connectivity dialogue looms
Dhaka is going to host a ‘brainstorming’ dialogue among Bangladesh, India and Bhutan this month to move forward the sub-regional connectivity and hydro power issues with Bhutan and Nepal via India.
Destiny officials on remand
A court here on Thursday placed Akbar Hossain Sumon, Treasurer of Destiny Multi-purpose Cooperative Society, on a weeklong remand in connection with two money laundering cases.
B’desh ensures $1bn RMG export to Canada
Bangladesh’s extensive diplomatic efforts and constant lobbying have helped ensure the export of one billion dollar readymade garments (RMG) export to Canada, and paved the smooth way for future export, said an official release on Thursday.
Higher outlays sought for power, roads, local govt
The chairmen of Parliamentary Standing Committees at a pre-budget meeting on Wednesday suggested increasing budgetary allocations for power, communications and local government in the upcoming budget for fiscal 2013-14.