The International Monetary Fund (IMF) has approved a financial aid of USD 278.8 million to Bangladesh.
Category: Business
New insurance companies in offing
Bangladesh government have decided to hand out fresh licenses to some new insurance companies within the next week.
DBBL ATM booth robbed in city
A group of miscreants robbed Tk 83.4 lakh from an ATM booth of Dutch-Bangla Bank Ltd in city’s Kolabagan area early Monday.
BB awards license to 6 new banks
Some six new banks have been given license by Bangladesh Bank (BB) to start their business. The banks are NRB Commercial Bank, Union Bank, South Bangla Agricultural Bank, Midland Bank, Meghna Bank and NRB bank.
FBCCI effort to retain GSP
The FBCCI, the apex trade body of Bangladesh, has requested the United States to continue the Generalised System of Preference (GSP) on goods exported to US. Bangladesh enjoys tax free export of all goods except that of readymade garments to…
India, China, Malaysia want to fund Padma bridge: Quader
Communication Minister Obaidul Quader on Friday said Malaysia, China and India are interested in bridging the Padma, hours after Bangladesh formally withdrew its bid to secure World Bank funding for the $2.9-billion bridge. “The funding will be confirmed within this…
New monetary policy announced
Bangladesh Bank (BB) announced its new monetary policy for the second half (January-June) of the current fiscal year 2012-2013 by increasing credit flow 0.5 percent in private sector. Governor of the central bank Dr Atiur Rahman formally made the announcement…
Thai minister backs Bangladesh workers
Thailand’s Labour Minister on Monday backed the fishing industry’s idea that its acute labour crisis could be eased by importing manpower from Bangladesh. The National Fisheries Association of Thailand proposal surfaced on Jan 22 apparently as workers from Myanmar, Cambodia…
Congress team for duty free access to US
Foreign Minister Dr Dipu Moni categorically said visiting US Congressional delegation thinks that Bangladesh should get duty free access of its products to US market. The foreign minister also suggested Bangladesh to appoint lobbyists as they need support of more…
Bad loans bleeding banking sector
Local and foreign banks had to write off a total of Tk 23.42 billion as bad loans in the last three months (October-December) of the year gone by. Latest report of the Bangladesh Bank shows that of the amount, the…
Oman keen to invest in BD energy sector
Oman Observer reported that since the Royal Decree of His Majesty the Sultan to establish Oman’s full fledged embassy in Bangladesh last September, the two countries have seen a flurry of activity as they have started gearing up to take…
Petrol-pump owners call off strike
Petrol-pump and tank-lorry owners-workers called off their indefinite strike on Monday evening.
Partnerships for development
Leena Wokeck lwokeck@csr-asia.com Many players in the development community now focus on the role for business in tackling development and sustainability issues in Asia. Businesses that recognize the strategic relevance of being part of the solution rather than part of…
BD Embassy continues its efforts for retaining US-GSP
As part of the Embassy’s efforts to retain US-GSP, Ambassador Akramul Qader held two separate meetings with Congresswomen Betty McCollum and Congressman Adams Schiff on Tuesday, said a press release.
Nuke plant funding deal signed
Deputy Finance Minister of Russia Sergey Storchak and Economic Relations Division (ERD) Secretary Abul Kalam Azad have signed an agreement on the Extension of State Export Credit for Financing the Preparatory Stage Work of Nuclear Power Plant in Rooppur in…
Nike signs mega deal with McIlroy
World number one golfer Rory McIlroy has signed a multi-year sponsorship agreement with Nike as the US sportswear company moves on after dropping disgraced cyclist Lance Armstrong last year.
Petrol pump owners threaten strike
Convener of Bangladesh Petrol Pump Owners and Tank-Lorry Owners-Workers Unity Council Nazmul Haque said they had earlier asked the government to raise the rates of their commission by Jan 6 — by 3.4 percent on diesel and 4 percent on…
DSE index falls, turnover worse
Dhaka Stock Exchange (DSE) turnover remained worse throughout the last week besides the investors also refrained from trading fearing the declining scenario.
BD to export 50,000T of sugar to EU
Bangladesh Sugar and Food Industries Corporation has issued its first tender to export 50,000 tonnes of sugar to European Union countries under a quota system, a senior corporation official said on Thursday.
Smartphone fair opens in Dhaka
A smartphone fair is being held in the capital for the first time in a bid to familiarise people with the latest advancements in technology.
Indian co to invest $8.919m in EPZ
BD Designs Private Ltd, an Indian company, will invest $ 8.919 million to set up a garments industry in Karnaphuli Export Processing Zone, a press release said. This fully foreign owned company has annual production capacity of 3.4 million pcs.…
NovoAir’s jet take-off
Business Report NovoAir, a new private airline, has started its journey to three domestic routes on Wednesday with a vision of ‘Excellence in Aviation Services’ under the motto of ‘Art of Aviation’.
DGEN closes lower
The key index of the Dhaka Stock Exchange shed more than 36 points to stand over 4,126 points at close on Monday amid a low turnover. Shares and mutual funds worth over Tk 1.21 billion changed hands with 42 issues…
Forex reserve top $13b for first time
The foreign exchange reserve crossed the $ 13 billion-mark for the first time on Monday, thanks to a robust growth of inward remittance as well as decreasing import payment. The reserve rose to $13.04 billion on the day — the…
Biman staff on indefinite strike
The agitating employees of Biman Bangladesh Airlines on Monday called for a non-stop strike from Tuesday as their demands had not been met, according to Moshiqur Rahman, president of the Biman Sramik League. The announcement comes following a day-long sit-in…
‘Speculators’ creating share market chaos’
Finance Minister AMA Muhith on Sunday once again blamed ‘speculators’ for destabilising the capital market. Speaking to journalists after a meeting on ways to improve the capital market, he said ‘speculators’ were creating chaos in the market. Journalists asked him…
Tazreen fashion fire: CID begins investigation
Two high profile teams of Criminal Investigation Department (CID) of Police have started their investigation of Tazreen Fashions fire which killed 112 workers in Ashulia of the district. On Saturday afternoon two teams of CID visited the burnt building of…
E-Commerce to reduce bank expense: Atiur
Bangladesh Bank governor Dr Atiur Rahman categorically said that the electronic commerce (E-commerce) system will reduce the infrastructure costs of the bank. “The system has also opened a new door and we all can work together now,” he added. He…
Directors’ recruitment in state-run banks: Process not transparent: CPD
Distinguished Fellow of Center for Policy Dialogue (CPD) economist Debapriya Bhattacharya termed the process of directors’ appointment to state-run banks ‘not transparent’. “The director-recruitment is not transparent, rather they are being recruited basically upon political decision, he added. Debapriya Bhattacharya…
SME fair-2013 begins Feb 12
With a view to promoting products produced by small and medium enterprises in both national and international markets, a five-day National SME Fair-2013 will begin in the city from February 12. The SME Foundation is organizing the fair at Bangabandhu…