No need to import rice this year: Razzaque
The agriculture minister says in a seminar
Non-life insurers can now collect premium thru MFS
Non-life insurance companies in Bangladesh will be able to collect premiums through mobile financial service (MFS) providers as the Insurance Development and Regulatory Authority (Idra) looks to facilitate the use of modern technologies in the industry.
LPG price hiked, 12kg cylinder to cost Tk 1,363
The new prices will be effective from 6:00pm today
No cheer from export and remittance
The strain on dollar stockpile intensified last month after remittance inflows crashed to a 41-month low and export receipts missed target.
How China-West tensions will shape global markets
Tensions between the West and China are rising, from tit-for-tat trade tariffs to tech rivalry and spying allegations.
Construction costs keep climbing
Construction costs in Bangladesh rose by 6.98 percent in August, making it costlier to implement both public and private construction projects, according to the Bangladesh Bureau of Statistics (BBS).
Oil prices climb as risk appetite grows, focus returns to supply outlook
Oil prices edged up on Monday, recouping some of the losses suffered at the end of last week, as investors focused on a tight global supply outlook while a last-minute deal that avoided a US government shutdown restored risk appetite.
Default loans hit an all-time high
Non-performing loans (NPLs) in Bangladesh’s banking sector hit a new record in June as withdrawal of a relaxed central bank policy, slowdown in business sales and deliberate non-payments pushed up the volume of bad loans to Tk 1,56,039 crore, central bank data showed.
Export-import through Benapole suspended for the day for Gandhi's birth anniversary
Trade between Bangladesh and India through Benapole-Petrapole land port remained suspended since this morning due to celebration of the birth anniversary of India's Father of the Nation Mahatma Gandhi
Economy
Board yet to propose minimum RMG wage
A board formed for recommending the minimum wage for garment workers could not come up with any proposal on the monthly rates even at its third meeting held in Dhaka yesterday.
TV sales down despite Cricket World Cup
With just days to go before ICC Cricket World Cup 2023, television purchases should have naturally picked up by now, with demand primarily expected to arise from sports enthusiasts trying to make do with limited means.
3 banks get nod to issue bonds of Tk 1,600cr
Dutch-Bangla Bank Ltd (DBBL), Brac Bank Ltd and One Bank Ltd have got permission from the Bangladesh Securities and Exchange Commission (BSEC) to issue bonds worth Tk 1,600 crore collectively.
Perennial financial insolvency of small enterprises
Micro, small, and medium enterprises (MSMEs) perform essential economic functions as major drivers of economic growth and social progress in Bangladesh as in other countries.
Default loans reach record Tk 1.56 lakh crore
The bad loans rose by Tk 24,419 crore in the last three months to June
Dollar Rate Manipulation / Treasury heads of 10 banks face fine
The banks are: Social Islami Bank, Al-Arafah Islami, Mercantile, Modhumoti, Midland, Brac, Exim, Premier, Shahjalal Islami and Trust.
Global Economy
German states push for ban on solar imports
Two German regional governments on Friday urged the European Union and Berlin to protect the German solar industry from cheaper imported panels, demanding a ban on imports of modules that do not meet the bloc's climate and labour standards.
China new home prices tick up
China’s new home prices rose slightly in September, breaking a four-month decline, data showed on Sunday, as developers sped up launches to take advantage of a recent slew of support measures.
Eurozone inflation falls to two-year low
Eurozone inflation fell to an almost two-year low in September, official data showed Friday, raising hopes that the European Central Bank will end its rate-hiking cycle.
Key US inflation measure ticks up
The key US inflation measure used by the Federal Reserve to set interest rates ticked up again in August, fueled by rising energy prices, according to government data published Friday.
Dollar on track for best quarter in a year
The dollar was on track to post its biggest quarterly gain in a year on Friday and gains for the 11th consecutive week as investors priced in the likelihood of a still solid economy and higher rates for longer.
Gold prices fall for second time in three days
From tomorrow, prices of each bhori of gold will be Tk 98,210
What could break under higher-for-longer interest rates?
As the final stretch of the year approaches, there's relief in markets that the sharpest global monetary tightening cycle in decades is finally nearing an end.
Republicans reject own funding bill, US government shutdown imminent
Hardline Republicans in the US House of Representatives on Friday rejected a bill proposed by their leader to temporarily fund the government, making it all but certain that federal agencies will partially shut down beginning on Sunday.
Organisation News
IT Consultants lays foundation stone of ITC tower project
IT Consultants (ITC) Ltd has laid the foundation stone of its ITC tower project at the Tejgaon Industrial Area in Dhaka.
Komatsu, DIMO ink distributorship agreement
Komatsu, a construction and mining equipment manufacturer of Japan, has signed a distributorship agreement with DIMO, a diversified industrial group in Dhaka, for sales and servicing of earthmoving equipment such as bulldozers, hydraulic excavators, motor graders and wheel loaders for the Bangladesh.
LafargeHolcim launches rain water harvesting project
LafargeHolcim Bangladesh Ltd (LHBL), a building material solution provider of the country, recently launched a project styled “Rain Water Harvesting for Safe Drinking Water for the Community” near its plant in Chhatak, Sunamganj.
SM Mainul Kabir appointed UCB DMD
United Commercial Bank PLC (UCB) has recently appointed SM Mainul Kabir as its deputy managing director.
BAPA FoodPro int’l expo kicks off on Sep 28
The Bangladesh Agro Processors Association (BAPA) is going to organise a three-day exposition to showcase agriculture and food products.
Emirates to recruit experienced captains
Emirates is going to recruit experienced Airbus captains as the airline continues to expand its fleet amid growing demand.
Unilever appoints Durdana Kabir as HR director
Unilever Bangladesh Limited (UBL) has appointed Syeda Durdana Kabir as its new human resources director.
Alliance Finance organises workshop
Alliance Finance PLC, in collaboration with Bangladesh Financial Intelligence Unit (BFIU), organised a daylong workshop on “Anti-money laundering and combating financing of terrorism”.
Business Multimedia
Khulna farmers prefer cultivating beans instead of shrimps
Shrimps were once widely cultivated in Dumuria upazila of Khulna. Now, farmers in this area are moving towards growing vegetables, especially beans. Vegetables from Dumuria are also exported to many countries in Europe
Fishes aplenty at Friday haat
A haat pops up every Friday along the Kaliakoir-Tangail road in Gazipur where buyers find almost all varieties of fish available in the country
Bogra Motors manufactures, exports automobile filters
There are 350 different types of filters made by Motors Bogra Pvt Ltd, from motorbike filters to car filters. These filters, produced in Bangladesh, are exported overseas as well as being used locally
Has the number of unemployed really decreased in the country?
The number of unemployed in the country has decreased. In other words, more people are involved in economic activities than ever before
Jon Haat: a place for hiring farm workers
The demand for day labourers is considerably high in Faridpur as farms in the major crop producing region require the assistance of seasonal workers whenever the harvest period comes around.
No source tax for IT freelancers
Bangladesh Bank yesterday clarified that freelancers do not have to pay tax at source on remittance from IT freelancing jobs, ending speculations on social media.
Vietnam probes wind towers imported from China
Vietnam's industry ministry has launched an investigation that could lead to anti-dumping duties on wind towers originally from China, following a complaint by domestic producers, the government said on Saturday.
The dark side of AI on social media
Even innocent pictures or videos shared on social media can be turned into explicit content with artificial intelligence (AI), warns civil society.
DHL Express announces price adjustments for 2024
DHL Express, an international express service provider, yesterday announced price adjustments that will take effect on January 1, 2024.
TikTok laments Indonesia’s social media commerce ban
TikTok Indonesia has lamented the government’s recent decision to ban e-commerce transactions on social media platforms, saying that the move could jeopardise the livelihoods of millions who depend on the short-form video platform for income.
Brac Bank, Body Shop sign deal
Brac Bank recently signed a memorandum of agreement (MoA) with The Body Shop, a British cosmetic, skin care and perfume company, to offer exclusive discounts for its Tara customers.
Midland Bank, Dream Square Resort sign MoU
Midland Bank Ltd recently signed a memorandum of understanding (MoU) with Dream Square Resort.
Supporting community a core objective for Bata
The core objective of Bata is not only to make shoes for profit but also to contribute to the community by providing employment and improving lives, according to Monica Pignal Bata, chairman of the Bata Shoe Organization.
Perennial financial insolvency of small enterprises: reasons and remedies
Micro, small, and medium enterprises (MSMEs) perform essential economic functions as major drivers of economic growth and social progress in Bangladesh as in other countries.
Bangabandhu industrial award on October 3
The government is going to confer the Bangabandhu Sheikh Mujib Industrial Award-2022 to 12 companies on October 3 for their contribution to the economy.
