Friday, 23 Feb, 2024

Business

Govt reverses sugar price hike move 

The government has stepped back from its move to hike the sugar price to Tk160 considering the sufferings of the public. “The decision has been withdrawn considering public suffering,” the industries ministry said in a press statement on Thursday (February 22) night.

Govt hikes sugar price to Tk 160 per kg

The Bangladesh Sugar and Food Industry Corporation (BSFIC) has raised the maximum retail price of sugar produced by state-owned mills to Tk 160 per kg, marking an increase of Tk 20 per kg. The BSFIC announced this price adjustment by issuing an official notice on Thursday (February

BAJUS seeks 10-year tax holiday in gold refinery industry

Bangladesh Jeweller's Association (BAJUS) demanded for providing a 10-year tax holiday in the gold refinery industry. They also proposed installing Electronic Fiscal Device (EFD) machines at some 40,000 jewelry shops across the country. The Association submitted the proposal at

India to allow onion export to Bangladesh

India, in the latest development, has approved the export of 3 lakh metric tonnes of onions. A committee, formed in this regard, has approved the export of 50,000 tonnes of onion to Bangladesh. The committee of ministers headed by Union Home Minister Amit Shah took a decision to

Rupayan Bhuiyan Emporium Shopping Complex opened in Ashulia

Rupayan Bhuiyan Emporium Shopping Complex was inaugurated in Ashulia, on the outskirts of the capital Dhaka, on Friday (February 16). The state-of-the-art central AC market, situated in the Jamgar area of Ashulia near Fantasy Kingdom, has been inaugurated under the slogan

Turkey's Coca-Cola pens deal to buy Coca-Cola Bangladesh for $130m

Turkey's Coca-Cola Isek (CCI) has signed an agreement for a whopping $130 million to acquire Coca-Cola Bangladesh Beverages Limited (CCBB).  The agreement outlines the acquisition of the entire 100% shares in CCBB, with CCIHBV emerging as the primary direct shareholder. CCI

US, China begin refilling depleted oil stocks, price may rise

Despite the price of fuel oil is stable in the world market at this moment, it may rise again. The United States, China and Europe have begun refilling depleted oil reserves. As a result, the demand for fuel oil will increase again in the world, which may lead to an upward trend in the

Minimum age for banks’ independent directors set at 45

Bangladesh Bank announced rules for appointing banks’ independent directors setting the minimum age at 45 years and the maximum age at 75 years. Also, they must have at least ten years of experience in management or business or professional work. The central bank issued a

TCB begins sale of essential commodities

Ahead of the holy month of Ramadan, the Trading Corporation of Bangladesh (TCB) started the sale of essential commodities at subsidised rates among the low-income group today (February 15). A total of one crore TCB cardholders across the country will be able to buy soybean oil, lentil

Mohammad Al Kashem appointed as MD of Coats Sri Lanka

Mohammad Al Kashem was appointed as the first Bangladeshi Managing Director (MD) of Coats Thread Exports Limited in Sri Lanka.  He will take on this responsibility in addition to his current role as the Managing Director of Coats Bangladesh Limited and J&P Coats Pakistan

Amazon founder Jeff Bezos sells shares worth over $4bn

Multi-billionaire Jeff Bezos has sold more of his shares in Amazon, bringing the total value of sales in recent days to more than $4bn ($3.2bn). The technology giant, which he founded in 1994, said Mr Bezos has now sold 24 million shares in the firm this month. Mr Bezos, who is

Dubai to offer flying taxi service by 2026

The United Arab Emirates signed an agreement Sunday to launch an air taxi service by 2026. As a result, Dubai will become the world's first city to launch a commercial, city-wide electric aerial taxi service. The official Emirates News Agency (WAM) announced on X that the Joby

Bitcoin breaks $50,000 for first time since 2021

Bitcoin spiked above $50,000 Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand. The cryptocurrency has enjoyed a strong run in recent months, fuelled by expectations US lawmakers would

Prices of essentials will remain under control during Ramadan: Titu 

State Minister for Commerce Ahsanul Islam Titu today (February 11) said prices of essentials will remain under control during the holy month of Ramadan.  "The government is taking various initiatives including market monitoring and ensuring smooth supply of goods to keep

Rajshahi-Murshidabad Int'l river trade route opens tomorrow

The much-awaited river trade route between Rajshahi and Murshidabad in India is going to be opened tomorrow (February 12) with the main thrust of strengthening trade and economic ties between the two countries. Sultanganj River Port under Godagari Upazila in the district is set to open

PM for expanding export market, production diversification 

Prime Minister Sheikh Hasina today (February 11) underscored the need for expanding export market apart from diversification of production. She said: "To increase exports, the market should be expanded alongside diversification of products."  The premier said this

Jeff Bezos just sold off $2 billion in Amazon shares

Jeff Bezos this week unloaded 12 million shares of Amazon stock, netting him about $2 billion in a strategic move that may position him to once again claim the title of "world's richest man." The sale was in keeping with a plan announced by the company earlier in February

Separate policies to be made for local, int'l markets: BAJUS President

Separate policies will be formulated for domestic and international markets in the jewelry industry, said Sayem Sobhan Anvir, Managing Director (MD) of Bashundhara Group, and President of the Bangladesh Jewelers' Association (BAJUS). BAJUS President Sayem Sobhan Anvir said this

Govt ready to provide support for gold sector: Salman F Rahman

Prime Minister’s Private Industry and Investment Adviser Salman F Rahman has said the government is ready to provide support for the sector having immense potential of growth. He also said jewellers will have to clarify which one they seek from the government as there will be two

BAJUS Fair opens at Convention City Bashundhara

A three-day jewellery exposition, styled "Bajus Fair-2024", kicked off at the International Convention City Bashundhara (ICCB) in Dhaka today (February 8), aiming to promote investment in gold as a means to secure a brighter future. BAJUS President Sayem Sobhan Anvir