Sukanta Halder

Ten insurance companies hold around 85 per cent of the life insurance market in Bangladesh thanks to their experience and record in settling claims fast.

The Insurance Development and Regulatory Authority (IDRA) has slapped eight insurance companies with a staggering fine of over Tk 2.18 crore for irregularities, fraudulence, misappropriation of funds, excess agent commissions and other misconduct.

Any fuel price hike raises the cost of everyday necessities and agricultural products and affects both food and non-food inflation since it is linked with every part of the value chain.

The insurance industry rebounded strongly in 2021 after getting hit by the coronavirus pandemic thanks to the contraction of excessive commission to agents and digitisation of services.

The claim settlement rate of life and non-life insurance companies in Bangladesh still lags behind the world standard as well as that of neighbouring countries such as India and this is the main reason for low public confidence in the sector.

Although five years have passed since the Bangladesh Small and Cottage Industries Corporation (BSCIC) made plans to establish an industrial park for automobile and light engineering industries in Jashore, the agency is yet to finalise the exact location for the project.

With oil prices hitting above $100 in the wake of Russia’s invasion of Ukraine, local businesses yesterday feared that the war would have a ripple effect on their domestic and international operations as both countries are major suppliers of agricultural commodities.

The construction of the country’s first industrial park for electrical and light engineering product manufacturers in Munshiganj is set to be complete in June.

The government’s move to relocate hazardous chemical warehouses and plastic factories from the congested neighbourhoods of Old Dhaka remains in limbo, 11 years after the initiative was taken in the aftermath of the Nimtoli inferno.

Although Amar Ekushey Book Fair-2022 began on Tuesday after being deferred for half-a-month due to the surge of Covid-19 infections, readers have already started purchasing the books published targeting the annual event thanks to online platforms.

Tea sales in Bangladesh are inching towards the pre-pandemic level as people shake off Covid-19 jitters to take a sip at their beloved drink outside of their homes where most consumption takes place.

The Department of Environment has failed to comply with a High Court directive that asked it to stop the use of single-use plastic in hotels, motels, and restaurants of coastal areas in two years.

The Bangladesh Competition Commission (BCC) yesterday filed a case against Alesha Mart, an e-commerce company, for creating uneven competition in the market by offering unfair discounts.

The government looks to set up a shipbuilding facility in partnership with foreign investors at the Payra seaport in Patuakhali with an investment of $1.58 billion to cut import dependence for vessels and market ships globally.

The Bangladesh Competition Commission (BCC) is investigating a complaint of anti-competitive practices filed by Japan Tobacco International (JTI) against British American Tobacco Bangladesh (BATB).

The Bangladesh Competition Commission (BCC) has drafted rules to complete inquiries within 15 working days after receiving allegations of anti-competitive practices.

Marred with scams, controversies and uncertainty over the recovery of thousands of crores of embezzled taka, the country’s e-commerce sector has witnessed the appearance of yet another platform led by none other than the poster boy of Bangladesh cricket, Shakib Al Hasan.

Some 14 years past being established, state-run SME Foundation is finally planning on creating a database of small and medium-sized enterprises (SMEs), a basic precondition for its functionality which it has been stating as an objective for long.

Plans  to bring the country’s restaurants and bakeries under a grading system  according to their standards have seen little progress in three years.

Way back in 1960, Bangladesh Small and Cottage Industries Corporation (BSCIC) bought 162 decimals of land from an Indian private company in Nolgola area of Old Dhaka, on the banks of Buriganga near Mitford Hospital.