MFS booming but largely confined to fund transfer
More than a decade has passed since the rollout of mobile financial service (MFS) in Bangladesh, but its use has largely been limited to fund transfers though it can become a major vehicle to turn the country into a cashless economy eliminating its over-dependence on fiat currencies.
27 February 2023, 02:00 AM
Depositors withdraw Tk 11,426cr from Islamic banks in 3 months
Deposit flow to Islamic banks in Bangladesh registered a fall in the fourth quarter of 2022, the first such decline in eight years, in a sign of erosion of confidence among savers owing to loan irregularities.
24 February 2023, 02:00 AM
Rules eased for US cotton import
The government has eased the rule of compulsory fumigation test for import of American cotton, particularly from the United States, clearing the ways for smooth import of the raw material of textile mills, the backward linkage industry for country’s main export earning garments.
23 February 2023, 02:30 AM
Consumers feel the heat of war everywhere
Nearly a year ago when President Vladimir Putin launched a full-scale invasion of Ukraine, many had thought that the war would end soon
22 February 2023, 03:00 AM
Russia, Ukraine now major sources of wheat for Bangladesh
Russia and Ukraine have become major sources of wheat for Bangladesh after India’s ban of its shipment, thanks to a United Nations and Turkey brokered grain deal that allowed moving the cereal from Ukraine over the Black Sea.
19 February 2023, 04:00 AM
Dollar crisis hurts pesticide imports, may hit crop output
Crop protection chemical sellers in Bangladesh are facing difficulty in opening letters of credit amid banks’ lack of interest owing to the crunch of the US dollar.
14 February 2023, 02:00 AM
Pvt ship owners irked over BSC privilege
A shipping ministry rule issued last week stipulating that only Bangladesh Shipping Corporation (BSC) will be able to carry goods imported by the government has created frustration among private oceangoing ship operators.
12 February 2023, 03:00 AM
Potato acreage shrinks to 7-year low
Potato acreage has declined to a seven-year low this season as many farmers switched to other crops, particularly mustard, as the production cost of the oilseed is lower than the tuber while its prices are more attractive.
9 February 2023, 03:30 AM
Tax collection growth on the decline
Tax collection growth slowed drastically in the first half of the current fiscal year due to falling customs tariff and direct taxes amid declining imports and reduced profits of firms, limiting the government’s scope to spend on development activities.
8 February 2023, 02:30 AM
No respite from jute export slump
Earnings from jute exports from Bangladesh slumped for the second consecutive year in July-January, raising concerns for the promising industry, one of the few sectors for which raw materials are locally available.
6 February 2023, 02:00 AM
Raising fund thru bonds to cut costs of NBFIs
Raising fund by issuing bonds is a very good option for the non-bank financial sector and banks as medium and long-term debts will reduce overall costs, said a top executive of LankaBangla Finance.
4 February 2023, 18:00 PM
USDA revises up Bangladesh’s rice production forecast
The US Department of Agriculture (USDA) has revised upward its forecast regarding Bangladesh’s rice production in the marketing year (MY) 2022-23 beginning from last May.
29 January 2023, 04:00 AM
Meghna Group of Industries, TK Group enter rice milling
Meghna Group of Industries (MGI) and TK Group, two major commodity processors in Bangladesh, are set to enter into the milling and marketing of rice, a move that may intensify competition but drive small operators out of the market.
25 January 2023, 02:30 AM
After energy, LC opening crisis now cripples businesses
At the beginning of 2022, businesses were upbeat and many of them thought that the worst stemming from the losses induced by the coronavirus pandemic was finally over. That was short-lived.
23 January 2023, 02:00 AM
Wheat acreage expands on record prices
Farmers, buoyed by soaring prices of flour in the domestic market because of the decline in imports, have brought more areas under wheat cultivation this season in a welcoming development.
22 January 2023, 04:00 AM
Abdul Monem Ltd goes from strength to strength
Bangladesh launched its first metro rail on December 28. Albeit it is running on a limited scale at present, it holds the promise of offering a fast-commuting experience to thousands of people every day and contributing to ridding the capital city of notorious traffic congestion.
15 January 2023, 02:40 AM
Bangladesh expands cargo carrying capacity by sea
Bangladesh’s entrepreneurs, encouraged by prospects, tax and VAT benefits, expanded their capacity in oceangoing shipping sector, with the total number of vessels rising to 91, the highest so far, at the end of 2022 from 80 ships a year ago.
10 January 2023, 02:30 AM
Local airlines look to rebound from pandemic losses
The year 2022 had been a good year for Bangladesh’s two local airlines thanks to increased flow of travellers after the authorities lifted pandemic-related restrictions.
9 January 2023, 03:30 AM
Pvt sector foreign debt sees first fall since 2020
For the first time since December 2020, private sector borrowing from external sources declined as the appetite among firms eroded for increased borrowing costs.
2 January 2023, 02:30 AM
Farmers come to our rescue, yet again
When Abdul Haque woke up at dawn yesterday, not even the bone-chilling cold or the fog could stop him from getting out onto the field.
1 January 2023, 01:00 AM