Bangladesh  Cards Ltd, a joint venture between Japanese, Australian and Bangladeshi  investors, is going to invest $100 million in a local hi-tech park to  manufacture high-end technology products, including smart cards and  specialised security items, to cater to the growing domestic and  international markets.

The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) yesterday demanded the central bank allow them to repay stimulus loans in 42 months instead of initially fixed 18 months as the severe impacts of Covid-19 persist.

No  new dyeing factory was set up in Bangladesh last year although the  segment is crucial to supporting the roaring apparel sector looking to  double its exports.

The Bangladesh Bureau of Statistics (BBS) data provides a somewhat mixed picture on how labour is benefitting from the ongoing economic recovery in Bangladesh.

The country’s lone state-run distillery Carew & Company (Bangladesh) is planning to double alcohol production through an automation project and go for market expansion observing a recent hike in sales.

Stocks of Bangladesh Shipping Corporation (BSC), a state-run listed ocean-going vessel management company, doubled in the last week thanks to the company’s higher profit in the first quarter of the current financial year.

The conventional textbook approach of export-led growth models rooted in export-oriented manufacturing and climbing up the value chain has been the canonical models for growth for the East Asian countries (e.g., Japan, S. Korea, Taiwan, and China). This model is widely advocated for other developing countries for both enhancing growth and reduction of poverty.

The knitwear manufacturers have demanded 42 months’ time, up from the government’s allocated 18 months, to clear the instalments of the Tk 7,500 crore stimulus loans that were given to them in 2020 to pay workers’ salary and allowances.

Md Tofazzel Hossain Miah, senior secretary at Prime Minister’s Office, and Shoaeb Ahmed, former member of the National Board of Revenue, have been re-elected as president and secretary of the ninth BCS Forum respectively.

Bangladesh Bank has allowed Padma Bank, albeit under two conditions, to list its accumulated loss as “intangible loss” so that it does not show up in its balance sheet, thereby enabling it to attract foreign direct investment (FDI).

The cost of doing business may come down by around 5 per cent if the capacity of the Chattogram port is increased, said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday.

Star Business ReportThe Bangladesh stock market index continued its climb in tune with the rise of some key companies yesterday but stopped short of the 7,000 points landmark.

Lawmakers will be able to import electric cars and hybrid jeep duty-free from now on, according to a notification of the National Board of Revenue (NBR) issued on Wednesday.

The Bangladesh Bank yesterday said nobody would be allowed to sell foreign digital services if they are brought in from abroad for personal use.

Bangladesh is unlikely to face any immediate effect for the coal export ban by Indonesia, the world’s biggest thermal coal exporter.

 Non-food inflation has been unbridled since the government hiked diesel and kerosene prices two months ago, touching 7 per cent in December, a six-year high, pounding consumers.

Mobile financial services, seen as a means of poverty alleviation and financial inclusion, fared well in 2021 in Bangladesh thanks to adaptation of the people to digital transactions amid the coronavirus pandemic,

The cost of doing business may reduce by around 5 per cent if the capacity of the Chattogram port is increased, said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry.

The Bangladesh Bank today said nobody would be allowed to sell foreign digital services if they are brought in from abroad for personal use.

The Dhaka stock index touched the 7,000 points mark today.