Wednesday, 28 Oct, 2020

Business

PM announces Tk 2000cr interest subsidy

DHAKA: Prime Minister Sheikh Hasina on Sunday (May 31) announced a new stimulus package to waive Tk 2000 crore bank interest of around 1.38 crore loan recipients. She said this is the 19th incentive package for the borrowers who need not to repay Taka 2000 crore interest of the credits

Regular bank operations from May 31

DHAKA: Bangladesh Bank has asked banks to resume regular banking activities from Sunday (May 31) moving away from limited scale of banking activities due to the coronavirus pandemic. The central bank issued a circular on Thursday (May 28) directing also to enforce safety and hygiene

Manzur Elahi, his wife test coronavirus positive

DHAKA: Syed Manzur Elahi, leading businessperson in Bangladesh, and his wife Niloufer Manzur have been diagnosed with the novel coronavirus (Covid-19). Their son Syed Nasim Manzur confirmed the news. He said that his father is being treated at home while his mother is undergoing

Grameenphone to pay Tk 1,000cr to BTRC Tuesday

DHAKA: Mobile phone operator Grameenphone (GP) is set to pay last installment of Tk 1,000 crore to Bangladesh Telecommunication Regulatory Commission (BTRC) on Tuesday (May 19) as per Supreme Court order. BTRC Senior Assistant Director Md Zakir Hossain Khan confirmed the news on

S M Anisuzzaman new CEO of BIFFL

DHAKA:  S M Anisuzzaman has joined as the Chief Executive Officer of Bangladesh Infrastructure Finance Fund Limited (BIFFL), one of the biggest Non Bank Financial Institutions in Bangladesh owned by the government of Bangladesh and represented by Finance Division of Ministry of

Bangladesh seeks duty-free market access for RMG Products to US

DHAKA: Bangladesh has sought a two-year duty-free access for its readymade garment (RMG) products to the US market as the coronavirus situation put the sector in trouble amid cancellations of orders worldwide. Foreign Minister Dr AK Abdul Momen made the plea to the US government when

'Reopening of govt offices a must to restore economy'

DHAKA: Bangladesh’s booming economy has been hit by the onslaught of COVID-19 pandemic and it now needs to rebound as early as possible, but that demands the immediate reopening of all related government offices and organisations, according to experts. Most such offices are still not

BSTI bans 43 more products

DHAKA: The Bangladesh Standards and Testing Institution (BSTI) imposed a ban on sale, distribution and advertising of 43 products of different brands, including Danish, Suresh, Promi and Pubali Salt. Besides, show-cause notices were also served in this regard, said a BSTI release on

Saudi Arabia triples VAT to support coronavirus-hit economy

Saudi Arabia is tripling its value added tax (VAT) as part of austerity measures to support its coronavirus-hit economy. The government in Riyadh also said it will suspend its cost of living allowance to shore up state finances. The oil-rich nation has seen its income plummet as the

Bashundhara City Shopping Mall will not reopen now

DHAKA: Bashundhara City Shopping Mall authorities have decided not to reopen it from May 10 in an attempt to curb the spread of the new coronavirus. The decision was taken as per the instruction of Bashundhara Group Chairman Ahmed Akbar Sobhan. Confirming the news, Mohammad Abu

10am-2:30pm banking transaction from May 10

DHAKA: The Bangladesh Bank has again extended the banking hours for customers by 30 minutes to 2:30 pm. Customers will carry out bank transactions between 10:00 am and 2:30 pm from May 10, the central bank announced on Tuesday (May 5). The new timetable includes a 15-minute prayer

Shops, malls permitted to open on limited scale

DHAKA: The government has given permission to open business establishments on a limited scale ahead of Eid-ul Fitr. The cabinet came up with the directive on Monday (May 4). According to the gazette notification, social distancing and other health rules have to be followed properly

Bangladesh economy relatively safe from Covid-19 fallout: The Economist

The Economist, the leading source of analysis on international business and world affairs, has placed Bangladesh as the 9th strongest economy in its report on the financial strength of 66 emerging economies in the wake of the Covid-19 attack. The ranking examines the vulnerability of

Elon Musk tweet wipes $14bn off Tesla's value

Tesla's founder Elon Musk wiped $14bn off the carmaker's value after tweeting that its share price was too high. It also knocked $3bn off Mr Musk's own stake in Tesla as investors promptly bailed out of the company. "Tesla stock price too high imo," he said, one of

Govt for waiving of bank loan interest

DHAKA: The government is reviewing the waiver of interest on bank loans to keep the country's disrupted industrial and commercial sector on track amid the coronavirus situation. After the announcement of the stimulus package for the industrial sector of the country, the government

Dutch buyers won't cancel RMG orders from Bangladesh

DHAKA: The Netherlands has assured Bangladesh that the Dutch buyers will not cancel or suspend their orders from the Bangladeshi readymade garment factories.   Minister for Foreign Trade and Development Cooperation Sigrid Kaag conveyed it to Foreign Minister AK Abdul Momen and

Coronavirus: HSBC puts 35,000 job cuts on hold

HSBC has paused plans to cut 35,000 jobs, saying it does not want to leave staff unable to find work elsewhere during the coronavirus outbreak. The bank announced the cuts in February as part of a massive cost-cutting programme. But boss Noel Quinn said the "the vast majority" of

Coronavirus: Property sales worth £82bn 'on hold' amid lockdown

Some 373,000 property sales are on hold owing to the coronavirus lockdown, analysis of the housing market in UK cities suggests. The value of held sales totals a collective £82bn, researchers at property portal Zoopla have estimated. Agreed sales were running at a tenth of the

British Airways to cut up to 12,000 jobs as air travel collapses

British Airways is set to cut up to 12,000 jobs from its 42,000-strong workforce due to a collapse in business because of the coronavirus pandemic. The airline's parent company, IAG, said it needed to impose a "restructuring and redundancy programme" until demand for air travel

Coca-Cola pledges TK 11.5cr to help nation fight Covid-19

DHAKA: As the need to step up relief efforts during the COVID-19 pandemic continues, Coca-Cola in Bangladesh has committed an initial support of TK 11.5 crores towards helping the healthcare system and communities through food package and distribution of beverages to combat the crisis and