Wednesday, 29 Jun, 2022

Business

Textech Expo begins July 28

DHAKA: An exhibition of new technology for readymade garment sector entitled Textech Expo will begin in the capital on July 28.   “The expo aims to introduce new and effective technology for readymade garments industry,” said event organiser SS Sarwar, director of Conference and

Railway better option for transit for India: experts

DHAKA: Railway would be a better option for India compared to roadway if Bangladesh allows transit facilities for transportation of goods towards North-Eastern States (NES) known as seven sisters, experts told a seminar. They opined that Bangladesh-India partnership in transit would be

Bangladesh Bank declares new agriculture loan policy

DHAKA: Bangladesh Bank on Wednesday declared an agriculture loan policy with a target to distribute Tk 12,600 crore for the current fiscal year.The policy for the very first time has included purchase of solar irrigation pump.BB governor Dr. Atiur Rahman announced the policy at Bank’s

Straightening cumbersome customs: deal to be signed with WCO

DHAKA: Bangladesh is going to sign a deal with the World Customs Organization (WCO) for assistance in modernizing the outmoded Customs Department and simplifying cumbersome customs procedures. “The agreement will be signed next week,” Finance Minister Abul Maal Abdul Muhith disclosed

ICB, ICB AMCL to declare dividend on 16 mutual funds on July 29

 DHAKA: Investment Corporation of Bangladesh (ICB) and ICB Asset Management Company Ltd (AMCL) are likely to declare dividend on different mutual funds for FY 2009-10 on 29 July. A senior official of ICB, wishing anonymity, said that the dividend would be declared at the board meeting of

Tourism Minister to re-brand Bangladesh with new logo and slogan

DHAKA: Civil Aviation and Tourism Minister GM Quader is opting for re-branding Bangladesh with a smarter catchphrase by changing the current logo and slogan introduced by the caretaker regime.    “The tourism ministry is going to take initiative soon to re-brand the country and woo

Landless farmers on the rise for mortgage

DHAKA: The number of landless farmers is on rise in the rural areas of the country, a research shows. A professor of Kyoto University of Japan, Koichi Fujita, conducted the research in Bangladesh which depicted a grim picture of increasing number of landless farmers since 1990. It changed

SEC approves two Mutual Funds of Tk 250 crore

DHAKA: The Securities and Exchange Commission (SEC) Tuesday approved Tk 250 crore Sonali Bank Ltd 1st Mutual Fund and Eastern Bank Ltd NRB Mutual Fund. “A meeting of the commission approved the funds,” said executive director of SEC and commission’s spokesman Anwarul Kabir Bhuiyan.

City Bank to issue 1:1, Islamic Finance 2:1 right shares

DHAKA: The Securities and Exchange Commission (SEC) Tuesday approved right shares of City Bank Ltd and Islamic Finance Ltd meant for increasing their respective paid-up capital.Executive director of SEC Anwarul Kabir Bhuiyan informed reporters about the approval after the commission

Govt to import rice from Vietnam, India to meet exigencies

DHAKA: To build a buffer stock to meet any exigencies, the government would import 200,000 metric tonnes of rice from India and Vietnam, the Food Minister announced Tuesday in the wake of an upturn in food prices. Dr Abdur Razzak said the government has taken the initiative to import rice

RanksTel wrangles: BTRC chair, Tele Secy risk running into contempt-rule toils

DHAKA: The High Court Monday issued rule upon the BTRC chairman and the telecommunications secretary to explain within four weeks why they should not be punished on contempt-of-court charge for not appointing administrator for the embattled RanksTel as per court’s order.An HC bench

Bangladesh Bank declares ÔÇ£growth-friendlyÔÇØ monetary policy

DHAKA: The central bank Monday unveiled a “growth-friendly” new monetary policy aiming to help the country attain faster economic growth containing the upward inflation within tolerable levels at the same time. Bangladesh Bank Governor Dr. Atiur Rahman declared the monetary policy at

Govt recommends privatizing 12 more SOEs

DHAKA: The Privatization Commission has decided to sell off 12 state-owned enterprises under the Jute and Textiles Ministry, competent sources said. They said the proposal has been sent to the cabinet committee on economic affairs for final approval for the denationalization.Put on the

Fueling quick-fire power plants: beg or borrow?

DHAKA:  The government is considering an offer for loan instead of handing out subsidy for the supply of fuel oils to the quick rental and rental power plants, hired for a quick-fix answer to a nagging electricity crisis. The Finance Ministry is learnt to have advised Bangladesh

GMG airlines in the capital market

DHAKA: The GMG Airlines, country’s one of the private airliners, is going to make debut in the capital market “very soon” which will be the second aviation company in the bourse.“The Airliner has applied to the SEC for uploading share of Tk 60 crore in the market,” a high

Power-loom workersÔÇÖ strike continues in Narsingdi

NARSINGDI: Power-loom workers here continued their strike for the sixth straight day on Sunday to press home their demands including regularization of jobs and pay-hike. President of district Textile Mill Owners` Association AKM Fazlul Haq termed the workers` 13-point demand is baseless.

Milk Vita records Tk 16 crore profit

DHAKA: State-owned dairy Bangladesh Milk Producers Co-operative Union Ltd (BMPCUL) or Milk Vita recorded a Tk 15.81 crore profit in the last fiscal.  “The organisation made the profit with skilled management,” General Manager of Milk Vita Nasim Ahmed told a press conference on

Rice price to come down before Ramadan: Food minister

DHAKA: Food Minister Dr. Abdur Razzak Saturday said the price of rice would come down before the holy month of Ramadan, as the government plans market intervention against price fixing.“The government has taken all-out preparations to keep the price of rice within the purchasing

India, Nepal to use Ctg, Mongla seaports: Shipping Minister

MANIKGANJ: Shipping Minister Shahjahan Khan said the government would let India and Nepal use Chittagong and Mongla seaports in order to reap economic benefits, as the presnt government has agreed on transit facilities for the two neigbours.“Friendly relationships would be strengthened

Cairn warns of withdrawing investment

DHAKA: British oil company Cairn Energy has threatened to take out its investment from all hydrocarbon fields, including South Sangu and Magnama, if the government does not withdraw the corporate tax on gas sale to a third party. But Energy Ministry and Petrobangla, the state-run