Thursday, 10 Oct, 2024

Business

Ratan Tata Dies: 10 Facts On India's Most Beloved Industrialist

Ratan Tata, one of India's most respected businessmen, died in a Mumbai hospital this evening. He was 86. The Tata Sons chairman emeritus was known not just for his contributions to the business world, but also for his philanthropy. Here Are 10 Facts On Ratan Tata: Ratan

Indian tycoon Ratan Tata dies aged 86

Indian tycoon Ratan Tata has died aged 86, says the Tata Group, the conglomerate he led for more than two decades. Tata was one of India's most internationally recognised business leaders. The Tata Group is one of India's largest companies, with annual revenues in excess of

Banks to remain closed on Thursday

Bangladesh Bank (BB) has announced that all banks will be closed tomorrow for Durga Puja, following a government-declared holiday. The Ministry of Public Administration issued a notification on Tuesday extending holiday for one more day on the Durga Puja, the largest religious festival

Oil extends gains on Mideast tensions

Oil rose above $80 on Monday on Middle East tensions while equities slid in New York as political and interest rate concerns dented the recent rally. Brent North Sea crude, the international benchmark oil contract, went above $80 per barrel for the first time since late August. Oil

Banking fraud and embezzlement surged after 2013-14

Muklesur Rahman, Chairman of the newly formed Executive Committee of National Bank’s Board of Directors, is tasked with the critical responsibility of reviving the financial stability of the debt-laden bank.  In an interview, Rahman reflects on the banking sector's

Businesses concerned over labour unrest, seek restoration of law and order

The business community has expressed growing insecurity amid ongoing labour unrest and economic instability, calling for the immediate restoration of law and order. At a roundtable organised by the Dhaka Chamber of Commerce and Industry (DCCI), business leaders urged the government to

Factory workers must get share of profits: Nur

Nurul Haque Nur, president of a faction of Gono Odhikar Parishad, said that the authorities have to give a portion of the profit to the workers of the respective factories. He said: “The owner will gain sky high while the workers die of hunger, this will not be allowed. There

Islamic banking can curb loan defaults

The culture of loan defaults in the country, which has become widespread, can be significantly curbed through the proper application of Islamic banking. Specifically, it can help prevent fund diversion and money laundering. Islamic banking is operated on the basis of moral principles.

Businessmen at risk, facing serious threats

Large industrial groups in the country are comprised of multiple companies, each with several directors. However, if even one director unintentionally becomes a loan defaulter, the entire group of companies is at risk. When a director’s Credit Information Bureau (CIB) report reveals

Oil prices rise 4% on Iran's missile attack on Israel

Oil prices jumped about 4% on Tuesday after Iran fired a salvo of ballistic missiles at Israel in retaliation for Israel's campaign against Tehran's Hezbollah allies in Lebanon. Alarms sounded across Israel and explosions could be heard in Jerusalem and the Jordan River valley

Tata Steel: UK's biggest steelworks closed final furnace after more than 100yrs

The United Kingdom's (UK) biggest steelworks has shut down production after more than 100 years, leading to thousands of job losses across South Wales. Blast Furnace 4 - the final furnace operating at Tata Steel's plant in Port Talbot - was fully closed down in the afternoon,

Gold prices drop

Jewellers have lowered the price of gold by Tk1,260 to Tk1,37,448 per bhori (11.664 grams) in the local market amid a tariff drop on ‘pure gold’. The Standing Committee on Pricing and Price Monitoring of the Bangladesh Jeweller’s Association (BAJUS) made the decision

India lifts ban on non-basmati rice exports, cuts parboiled rice duty

After more than a year, India lifted the ban on the export of non-basmati white rice with immediate effect and reduced the export duty on parboiled rice to 10% from 20%, PTI reported quoting an official notification. The ban by one of the world’s largest exporters of rice was

Prof Yunus seeks US partnership in Bangladesh's new journey

Chief Adviser Professor Muhammad Yunus on Thursday said his government is committed to improving business environment in Bangladesh through reforms, seeking businessmen’s partnership in the country’s new voyage. “No country is perfect. Neither is Bangladesh.

China wants to invest in solar panels manufacturing in Bangladesh

Chinese Foreign Minister Wang Yi has said his country wants to invest in solar panels manufacturing in Bangladesh and further deepen trade and economic ties with Bangladesh. He made the announcement when he called on Bangladesh Chief Adviser Prof Muhammad Yunus on the sideline of the

Gold price hits record high of Tk1.38 lakh per bhori

Jewellers in Bangladesh have raised the price of gold by Tk3,044 to Tk1,38,708 per bhori (11.664 grams), making a new record for the inflating price of the yellow metal in the market. The Standing Committee on Pricing and Price Monitoring of the Bangladesh Jeweller’s Association

BAJUS inaugurates permanent office in Dhaka

The permanent office of Bangladesh Jewelers Association (BAJUS) has been inaugurated in Moghbazar of Dhaka on Tuesday (Sep 24). The new adress of this jewellers body (BAJUS) has been inaugurated by its executive committee members. New Address of the BAJUS is - 15, New

Country losing huge foreign currency due to gold smuggling

A large quantity of gold is entering Bangladesh from Middle Eastern countries and being smuggled into India through 30 border districts. Since Bangladesh has become a safe transit route for smuggling, both domestic and international smuggling networks are using it. This is causing the

Gold price hits record high of Tk1.35 lakh per bhori

Jewellers in Bangladesh have raised the price of gold by Tk2,613 to Tk1,35,664 per bhori (11.664 grams), making a new record for the inflating price of the yellow metal in the market. The Standing Committee on Pricing and Price Monitoring of the Bangladesh Jeweller’s Association

Price gap sparks fuel smuggling across border

A significant price gap between diesel and petrol in Bangladesh and India has allegedly fuelled an ongoing smuggling operation, according to a recent investigation. The difference of Tk22-25 per litre between Kolkata in India and Dhaka in Bangladesh has created an opportunity for