Govt to allow potato import as prices hit historic high

In a first for Bangladesh, the commerce ministry yesterday decided to allow potato imports in an effort to increase supply of the tuber and thereby curb prices in the domestic market.
31 October 2023, 02:11 AM

Taka Pay launching tomorrow

Bangladesh is set to launch its first domestic card scheme, “Taka Pay”, tomorrow aiming to reduce reliance on international card schemes such as Visa and Mastercard and save foreign currencies.
31 October 2023, 01:56 AM

LafargeHolcim profits up 41% in Q3

Sales and profits of LafargeHolcim Bangladesh, a multinational cement manufacturing company, grew in the July-September period of 2023 in spite of facing challenging economic conditions.
31 October 2023, 01:56 AM

Blockade could dent supply chain, economy

The economy, which is already reeling under the pressure owing to persisting volatility in the foreign exchange market and higher inflation, is set to face another major setback as the nationwide blockade could disrupt the smooth operation of the entire supply chain.
31 October 2023, 01:56 AM

WTO extension could yield multiple perks beyond 2026: experts

The World Trade Organisation’s (WTO) decision to continue LDC-linked trade benefits for graduating least-developed countries will not only help Bangladesh avoid potential export losses for several years beyond 2026 but also allow it to attract much-needed investments, experts said.
31 October 2023, 01:56 AM

NCC Bank re-elects chairmen for 3 committees

In the 506th meeting of its board of directors, NCC Bank re-elected three chairmen for three committees. They are SM Abu Mohsin for the executive committee, Md Nurun Newaz for the risk management committee and Md Obayed Ullah Al Masud for the audit committee of the board.
30 October 2023, 18:00 PM

Oil price falls over 1%

Oil slipped more than 1 percent on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution ahead of this week’s U.S. Federal Reserve meeting and other indications of global economic health.
30 October 2023, 18:00 PM

Focus on AI to bridge digital divide: experts

The best use of digital public infrastructure (DPI) and artificial intelligence (AI) will eliminate the digital divide in the country with the help of Smart Bangladesh initiative, experts said yesterday.
30 October 2023, 18:00 PM

Ensure green growth for sustainable development

Green growth would help Bangladesh build long-term resilience against climate risks and potentially achieve its vision of becoming an upper-middle-income country, according to Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan.
30 October 2023, 18:00 PM

Finance company bill placed in parliament

The Finance Companies Bill, 2023 was placed in parliament yesterday aiming to curtail the practice of people defaulting on loans from non-bank financial institutions (NBFIs) in the country.
29 October 2023, 18:00 PM

FICCI reschedules 60-year celebration event to Nov 19

The Foreign Investors’ Chamber of Commerce and Industry (FICCI) has rescheduled the date of its event for “FICCI 60 Years Celebration & Investment Expo 2023”.
29 October 2023, 18:00 PM

Garment makers owe spinners more than $376m

In a letter to Bangladesh Bank and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the Bangladesh Textile Mills Association (BTMA) yesterday said garment exporters owe more than $376 million to its members.
29 October 2023, 18:00 PM

Marico’s profit grows faster than revenue

Marico Bangladesh’s profit has grown at a higher pace than revenue in the July-September quarter of the current financial year as the consumer goods manufacturer and marketer was successful in reducing the cost of sales and improve finance income.
29 October 2023, 18:00 PM

IDLC’s profit down 23% in past 9 months

IDLC Finance saw a decline in profits in the first nine months of the current calendar year due to a drop in interest and investment incomes as well as low income from commissions. 
29 October 2023, 18:00 PM

GPH Ispat’s profit falls for higher costs

GPH Ispat Ltd, a leading steel maker in Bangladesh, reported a massive drop in earnings during financial year 2022-23 due to the spiral in raw materials prices and higher cost of the US dollar in foreign currency transactions.
29 October 2023, 18:00 PM

Trade unions demand quick announcement

Trade union leaders of the garment sector yesterday urged the government to announce a “decent” minimum wage for workers as soon as possible to prevent workers from engaging in further agitations. 
29 October 2023, 18:00 PM

Onion prices jump overnight

Onion prices at wholesale and retail markets in Bangladesh rose yesterday after India set a minimum price of $800 per tonne on exports of the bulb.
29 October 2023, 18:00 PM

Daffodil Computers to open office in Dubai

Daffodil Computers, a listed computer seller and software service provider in Bangladesh, is making a strategic investment of $50,000 to establish a branch of “Daffodil Global” in Dubai, the capital of the United Arab Emirates.
29 October 2023, 18:00 PM

Foreign loan commitments surge over 600%

Although foreign aid commitments made by global lenders to Bangladesh surged more than 600 percent in July-September of the current fiscal year, the disbursement declined. 
29 October 2023, 18:00 PM

Little impact of hartal on Ctg port activities

A countrywide dawn to dusk hartal enforced by opposition parties BNP and Jamaat-e-Islami yesterday had little impact on operational activities at the Chattogram port.
29 October 2023, 18:00 PM