Falling exports of four major sectors raise alarm
Although Bangladesh posted a higher export growth in the just-concluded fiscal year on the back of garments and some non-traditional items, four major sectors suffered a fall, raising concerns for the economy and the employment sector.
5 July 2023, 00:15 AM
Padma Bridge Rail Link Project: Railway seeks one-year extension on loan tenure
Bangladesh Railway (BR) is seeking a one-year extension on its loan tenure for the Padma Bridge Rail Link Project as a means to avoid upward cost revisions resulting from hassles in clearing payments after the task is complete.
4 July 2023, 00:20 AM
Motorcycle sales in the slow lane ahead of Eid
Sales of motorcycles, particularly low-end ones, were disappointing ahead of the upcoming Eid-ul-Azha as the ongoing inflationary pressure has limited peoples’ purchasing power, according to market players.
28 June 2023, 00:40 AM
Rubber growers dismayed by reduced prices
The disappointment among rubber growers in Bangladesh is mounting as prices of latex and rubber sheet are declining despite being import substitutes for key materials used in various industries.
26 June 2023, 00:40 AM
Bashundhara enters toiletries business
Bashundhara Group, one of the conglomerates in Bangladesh, will start offering toiletries and personal care products in order to have a share of the growing market for the consumer goods.
24 June 2023, 18:00 PM
Freezer demand soars ahead of Eid
Refrigerator and chest freezer sales are seeing steady growth in the lead up to this year’s Eid-ul-Azha as demand has soared thanks to the stable prices and various discounts on offer, according to market players.
23 June 2023, 02:30 AM
Synthetic footwear exports on a roll
The shipment of synthetic footwear and sports shoes from Bangladesh grew 6.21 per cent year-on-year in July-May of the outgoing fiscal year thanks to shifting orders from China and the expanding capacity of manufacturers.
21 June 2023, 02:00 AM
‘Extended duty benefit to keep medicine prices in check’
The proposed budget has provided relief to pharmaceuticals manufacturers and patients as it retained duty-free import benefits for over 100 raw materials used in making life saving cancer, heart disease and diabetes drugs.
20 June 2023, 18:00 PM
Lending rate hike to fuel cost of doing business
Premier Cement Managing Director Mohammed Amirul Haque says
19 June 2023, 13:54 PM
Electrical equipment makers ignored
The proposed national budget for the next fiscal year does not address the interests of electrical equipment makers, which goes against the government’s aim of establishing Bangladesh as an industry-intensive nation, said an official.
18 June 2023, 02:30 AM
Flats, houses to be costlier
Flats and houses will become expensive as the government has increased the duties on basic construction materials such as cement, steel and tiles in the proposed budget, said a top executive of a real estate company.
16 June 2023, 02:30 AM
Electrical, electronic goods export surges
The shipment of electrical and electronics goods from Bangladesh displayed an impressive growth of 48 per cent in July-May of the outgoing financial year on the back of improving product quality and government support, official figures showed.
15 June 2023, 02:00 AM
Specific duty on crude oil imports a welcome move
Oil refiners in Bangladesh have welcomed the government’s specific duty proposed in the budget for the next fiscal year on the imports of crude oil.
11 June 2023, 18:00 PM
Textiles, RMG neglected in budget
The textile and garment sector, which earns the lion’s share of export proceeds, has been left neglected in the proposed budget, according to Shams Mahmud, a former president of the Dhaka Chamber of Commerce and Industry.
10 June 2023, 18:00 PM
Benefit extension for consumer electronics ‘encouraging’
The extension of existing benefits for local consumer electronics industries through the proposed national budget is very encouraging, said Golam Murshed, managing director and chief executive officer of Walton Hi-Tech Industries, yesterday.
8 June 2023, 18:00 PM
Leather and footwear export fall
The exports of leather footwear from Bangladesh declined 4.28 per cent year-on-year in July-May of the ongoing financial year owing to lower orders from Europe, the main market, official figures showed.
8 June 2023, 01:40 AM
Bangladesh pays first foreign bill in taka
Bangladesh has made the first payment for a mostly foreign loan-funded project in the taka, ushering in another mode of better preserving foreign currency reserves.
7 June 2023, 01:50 AM
Steel prices unlikely to cool down
The price of steel products is unlikely to decline in the coming days from its current record level as the budget for the upcoming fiscal year has not offered any benefit to the sector, said a top executive.
5 June 2023, 18:00 PM
Rise in clinker duty a burden on consumers
The increase of duty on the import of cement clinker by Tk 200 per tonne will have an adverse impact on the cost of production and put a burden on consumers, said Mohammad Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh Limited.
5 June 2023, 02:30 AM
State enterprises may see higher losses next fiscal year
State-owned enterprises (SOEs) in Bangladesh will likely incur collective losses of Tk 14,703 crore in the coming fiscal year, according to the finance ministry.
4 June 2023, 02:30 AM