Mobile makers in trouble as sales plummet

The nascent mobile phone manufacturing industry in Bangladesh has been hit hard by the higher inflation, unprecedented dollar price hike, and increased value-added tax as their sales have plummeted amid belt-tightening by consumers. 
18 August 2022, 02:00 AM

Govt plans PPP projects to develop agriculture

The government is planning to take projects for developing the agriculture sector under public-private partnerships (PPP) for the first time in order to grow more agro-entrepreneurs and reduce pressure on the state coffer, according to a decision of the agriculture ministry.
17 August 2022, 18:00 PM

FBCCI, ILO team up to boost workplace safety

The International Labour Organisation (ILO) yesterday signed an agreement with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to enhance workplace safety and healthcare facilities in 10 priority economic sectors.
17 August 2022, 18:00 PM

BB limits commission of money changers

Bangladesh Bank yesterday said that money changers would not be allowed to gain a profit of more than Tk 1.50 for each US dollar when buying and selling the greenback.
17 August 2022, 18:00 PM

New UK trade scheme to ease Bangladesh’s LDC graduation

All Bangladeshi exports will continue to get duty-free access to the United Kingdom until 2026 when the country will make the status graduation from a least developed to a developing nation. 
17 August 2022, 18:00 PM

Internet banking transactions double as users find ease

Transactions through internet banking in Bangladesh more than doubled in the last fiscal year as a huge number of people, especially the young generation, are using the platform to carry out financial activities. 
17 August 2022, 05:00 AM

Revisions raise 3 projects’ cost by Tk 1,053cr

The government yesterday approved revisions to three projects involving Tk 3,707 crore, pushing up the collective completion cost by some Tk 1,053 crore. 
17 August 2022, 03:30 AM

Int’l hotel assoc gets new co-chair

Bangladesh International Hotel Association (BIHA) appointed Md Shakawath Hossain, as co-chairman of its standing committee for planning and development.
16 August 2022, 18:00 PM

Norway’s Jotun opens $7.6m paint factory

Jotun Bangladesh Limited (JBL), a subsidiary of Norway-based paint and coatings manufacturer Jotun Group, has opened its maiden plant inside the Meghna Industrial Economic Zone (MIEZ) with an investment of $7.6 million.
16 August 2022, 18:00 PM

Majority of banks not maintaining Tk 1 spread

A majority of banks yesterday did not abide by Bangladesh Bank’s instruction to maintain a spread of Tk 1 when buying and selling the US dollar.
16 August 2022, 18:00 PM

Banks asked to credit funds to suppliers’ accounts

The Bangladesh Bank yesterday ordered banks to credit foreign currencies to the retention quota accounts of suppliers after the settlement of the back-to-back letters of credit (BBLCs).  
16 August 2022, 18:00 PM

People of ‘Mehndi Gram’ earning big from henna

The Salmashi village in Savar is popularly known as “Mehndi Gram” as most farmers in the area cultivate henna trees on a commercial basis to provide for their families.
16 August 2022, 04:00 AM

Curbing money laundering through AI

East India Company colonised Bengal in 1757 when India’s contribution to the world’s GDP was about 27 per cent and Bengal (Suba-E-Bengal) was one of the wealthiest places on Earth.
16 August 2022, 03:45 AM

MFS providers see surge in utility payments

Utility bill payments through mobile financial service (MFS)  providers crossed the Tk 2,000-crore mark in June, underscoring the  growing preference among users to make payments from the comfort of  their homes.
16 August 2022, 03:30 AM

Individuals buying dollar as investment

As the Russia-Ukraine war broke out, Bangladesh witnessed a huge deficit in the balance of payments which was the main cause for a recent dollar crisis in the country where speculation fuelled the dearth, says AKM Ismail Haq, president of the Money Changers’ Association of Bangladesh. 
16 August 2022, 03:15 AM

Egg prices unlikely to cool off soon

The price of chicken eggs has risen substantially over the past week, piling even more pressure on general consumers who are already facing tough times due to the growing cost of living in Bangladesh.
16 August 2022, 03:00 AM

Petroleum remains NBR’s major source of revenue

Petroleum imports continue to be the major source of revenue for Custom House, Chattogram thanks to higher tariffs.
16 August 2022, 02:45 AM

BSCIC industrial estates: Slow implementation a thorn for investors

Businesses are taking advantage of the increased connectivity offered by Padma Bridge but potential investors of four industrial parks under the Bangladesh Small and Cottage Industries Corporation (BSCIC) are missing out as the projects are yet to be complete. 
16 August 2022, 02:15 AM

Beza signs deal for Chinese economic zone in Ctg

Bangladesh Economic Zones Authority has recently teamed up with a state-owned Chinese company to set up Chinese Economic and Industrial Zone (CEIZ) at Chattogram’s Anwara upazila.
15 August 2022, 18:00 PM

Cargo movement rises thru waterways

Cargo movement through waterways between Bangladesh and India rose to a new height in fiscal year 2021-22 as local entrepreneurs, particularly cement makers, found the river routes convenient to bring their raw materials, mainly fly ash, from the neighbouring country. 
15 August 2022, 02:30 AM