Thursday, 21 Jan, 2021

Business

Ahmed Jamal appointed Bangladesh Bank director

The government has appointed Ahmed Jamal, deputy governor of Bangladesh Bank, as the director of the Board of Directors and member of the Executive Committee of the bank for next three years.  Bank and Financial Institutions Division under the Ministry of Finance issued a press

BB reserve heist case report submission now on Feb 17

A Dhaka court on Wednesday set February 17 to submit the probe report in the case lodged over Bangladesh Bank (BB) reserve heist that took place in 2016. Dhaka Metropolitan Magistrate Sadbir Yasir Ahsan Chowdhury set the date as the investigation agency CID failed to present the report

Bangladesh sets example in housing sector, say top business leaders

Bangladesh has set an example in the housing and real estate industry as it had played a major role in national economy in the last 30 years, said top business leaders of Bangladesh and India. Mentioning that the housing industry also contributed to the development of other industries

Youth can become a liability if appropriate fields aren't created 

I will work to create more opportunities for the young entrepreneurs across the country and for the betterment of Junior Chamber International (JCI) Bangladesh. JCI Bangladesh works for the standard changes and development of society and the development of personal skill and

Tk 2.08tn budget deficit likely in FY22

The potential budget deficit in the upcoming 2021-22 fiscal year is going to be Tk 2.075 trillion or 5.8 per cent of GDP on the back of revenue losses due to the impact of Covid-19 pandemic. The government plans to pick up a Tk 5.92 trillion (GDP’s 16.7 per cent) budget in FY22

Tk 148bn stimulus packages likely in FY ’22

The government is likely to allocate Tk 148 billion for new stimulus packages in 2021-22 fiscal to fend off the impact of coronavirus pandemic. The size of the new stimulus package was proposed in the first meeting of the Budget Monitoring and Resources Committee held virtually with

Brexit: New EU trade arrangements to begin after Parliament vote

The post-Brexit trade deal between the UK and EU takes effect at 23:00 GMT on Thursday, after it was signed into law. Parliament overwhelmingly backed the agreement in a high-speed process on Wednesday, following the two sides reaching agreement on Christmas Eve. It takes the UK out

Govt goes tough on bond misuse

The government appears to have taken a tough stance against the misuse of the bond facility to prevent evasion of import duty and safeguard the local manufacturing sector. In a recent move, the Customs Bond Commissionerate of Dhaka has suspended the bond licences of 125 name-only

India lifts ban on onion export

India has withdrawn its ban on onion export.  The move came more than three months after India imposed abrupt export ban on the cooking ingredient which led the onion prices to soar in neighboring Bangladesh. India’s Ministry of Commerce and Industry announced the

Brexit: EU ambassadors approve EU-UK trade deal

Ambassadors from the 27 EU member states have unanimously approved the EU-UK post-Brexit trade deal, paving the way for it to take effect. The deal is likely to become law on 1 January, as the UK Parliament is expected to approve it on Wednesday. Under EU rules it can take effect

Govt lowers rice import duty to 25pc

The government has cut the rice import duty to 25 percent from the existing 62.5 percent in a bid to encourage private importers and control the market prices.  Food Minister Sadhan Chandra Majumder made the announcement at a virtual press conference on Sunday morning. 

Chinese economy to overtake US 'by 2028' due to Covid

China will overtake the US to become the world's largest economy by 2028, five years earlier than previously forecast, a report says. The UK-based Centre for Economics and Business Research (CEBR) said China's "skilful" management of Covid-19 would boost its relative

Bashundhara Paper Mills Ltd approves 10pc cash dividend

Bashundhara Paper Mills Limited (BPML) has approved 10 percent cash dividend for its shareholders in capital market for audited fiscal year 2018-19 ending on June 30. Board of Directors gave the approval of the dividend at the 27th Annual General Meeting (AGM) held on virtual platform

Partex Group chairman passes away 

Partex Group founding chairman MA Hashem passed away at early hours of Thursday. He was 78. His son Showkat Aziz Russell confirmed the matter. MA Hashem was admitted to the Evercare Hospital in Dhaka on December 11 after he had tested positive for coronavirus. Later, he had been on

Khana’s arranges annual conference

Khana’s, one of the most popular fast-food chains for food lovers, has arranged its annual conference.  The company recently arranged the conference at a luxury resort in Dhaka with the aim of expanding food services across the country. The conference was attended by

Brexit: UK-EU trade talks enter critical 48-hour period

The UK and EU continue to negotiate as talks on a post-Brexit trade deal enter another critical 48-hour period. Talks in Brussels are understood to be focused on how many years it will take to phase in new fisheries arrangements. With the two sides at odds over access to UK fishing

Saudia Airlines fined for flying passengers sans Covid-19 certificates

Dhaka's Hazrat Shahjalal International Airport authorities has fined Saudia Airlines for flying 516 passengers to Bangladesh without Covid-19 negative certificates. The airport authorities fined the airlines with Tk2 lakh on Tuesday for carrying those passengers on three flights to

ADB okays $0.5m to improve Bangladesh’s business competitiveness

The Asian Development Bank (ADB) has approved $0.5 million in grant assistance for supporting knowledge works to promote business competitiveness and intraregional trade of Bangladesh. The assistance comes as an addition to an earlier grant of $2 million approved in 2018 for creating

Azam Chowdhury reelected LOAB President, Shayan Rahman Vice President

Azam J Chowdhury and Shayan F Rahman have been reelected President and Vice President of the LPG Operators Association of Bangladesh (LOAB) for the next two years.   The election was held earlier and approved on a virtual platform at the second Annual General Meeting of LOAB. All

IMO introduces enhanced phone number verification system

Online communications platforms are increasingly confronting the threats of user data theft and information leakage. In order to eliminate a crucial vulnerability, imo, one of the world’s largest instant communication platforms, has introduced a new phone number verification system