Tuesday, 26 Sep, 2023


India’s GDP growth at 4-year low

DHAKA:  India`s economy grew at 4.4 per cent in the April-June quarter, the slowest quarterly rate since the global financial crisis. This was also the third consecutive quarter of below 5 per cent growth, building more pressure on the government to take immediate action to resuscitate

Wal-Mart to loan $50ml to BD

Wal-Mart Stores Inc told investors on Thursday that it could provide up to $50 million in low-interest loans or other types of payments to Bangladesh factory owners for building improvements.The money is part of the more than $100 million in loans and access to capital that a group of

US economy grew at 2.5 percent rate in Q2

DHAKA: The US economy grew at a 2.5 percent annual rate from April through June, much faster than previously estimated.The steep revision was largely because US companies exported more goods, and imports declined.The Commerce Department said second-quarter growth was sharply higher than

Dhaka-Yangon flights to resume

DHAKA: Bangladesh and Myanmar Thursday signed an agreement to resume direct Dhaka-Yangon flights which were closed down 6 years ago.Air Vice Marshal Mahmud Hossain, chairman of Civil Aviation Authority of Bangladesh (CAAB) and Win Swe Tun, deputy director of Myanmar Department of Civil

Bourses see minor fall Thursday

DHAKA: Investors witnessed minor fall in the benchmark indices of the country’s bourses on Thursday.The DSE general index shed over four points to stand at 4,127 at the close on the day trading.Trade deals stood at 117,534 with transaction at Tk 5,407 million. Of the issues traded, 76

‘We will invest more in tourism’

DHAKA: Lutfar Rahman Badol, executive chairman of private sector IFIC Bank, recently has been elected chairman of Nepal-Bangladesh Bank. He had also performed as the chairman of the board of directors of IFIC bank. He is also known as a sports organizer particularly as an organizer of

14th AGM of EXIM Bank held

DHAKA: The Fourteenth Annual General Meeting (AGM) of Export Import Bank of Bangladesh Limited held Tuesday at Basundhara Convention Centre in the capital. Chairman of the Board of Directors of Bank M Nazrul Islam Mazumder presided over the meeting. Financial statements including Balance

Fonterra, NZ govt assure quality

DHAKA: Fonterra has said it was working with the New Zealand Government to assure Bangladesh authorities that the small quantity of product it exports to their country is safe.Fonterra`s group director of communications, Kerry Underhill, said all Fonterra product is safe, including that

Taka now 1.15 against Rupee

DHAKA: The Indian rupee ended at a record closing low of 68.80 against the US dollar on Wednesday. After the fall value of per Rupee stood at 1.15 against Bangladeshi Taka 1.The partially convertible rupee crashed around 3.9 per cent to hit a low of 68.85 as against Tuesday`s close of

Gap denies using child workers

DHAKA: Faced with footage of Bangladeshi girls as young as 12 working on jeans with "Old Navy" labels, Old Navy`s parent company, Gap Inc., says it believes one of its contractors may have improperly sold its product to a wholesaler without its knowledge.The disturbing footage of child

Indian rupee hits a record low

DHAKA: The benchmark BSE Sensex on Tuesday plunged 590 points to end below the 18,000 mark as the rupee fell past the 66-mark to a lifetime low and concerns were raised about the subsidy burden after passage of the food security bill.The currency closed at the 66.24 a dollar level,

Better days ahead for BD Shrimp

BANGLADESH: Shrimp exporters eye better days ahead as the US, the second largest importer of Bangladeshi shrimps, has imposed additional duties on imports from five of Bangladesh’s competitors.“Our exports to the US will rise significantly, both in terms of volume and price, due to

Govt restricts Fonterra dairy milk

DHAKA: Customs authorities in Bangladesh have restricted the import of more than 600 tonnes of powdered milk mainly from New Zealand-based Fonterra pending mandatory chemical tests, a senior official said on Tuesday.Fonterra, the world’s biggest dairy exporter, was caught up in a

Increase demand leads to BD trade fair in Malaysia

DHAKA: A three-day exhibition on Bangladesh products, to be held at the Putra World Trade Centre (PWTC) on Thursday, will showcase a variety of products of interest to Malaysian consumers.The fair’s co-organiser and Chief Executive Officer of Elenga Hotels Datuk M Haider Uzzaman said

Stocks wetness mixed Tuesday

DHAKA: The country’s two bourses witnessed mixed trend in share-price indices on Tuesday.The key index of Dhaka Stock Exchange, DSEX, shed over one point to stand at 4,132 at the close on the third trading day of the week.Trade deals stood at 143,574 with transaction at Tk 6,902

Dollar-gold syndrome hits S Asian currencies

The latest dollar-gold syndrome is hitting hard at least two major South Asian countries and their currencies, which are already suffering due to their poor external balances.India and Pakistan are the victims of the crisis, which means a huge South Asian population — more than one

Bangladesh Airlines plans IPO in 3-yr

Biman Bangladesh Airlines, the country’s flag carrier, is set to become profitable by 2015, after breaking even in the current fiscal year ending June 2014, a top official said.The airline is also planning an initial public offering (IPO) in three years, after becoming profitable, when

Mobiles, TVs to cost even more on rupee fall

DHAKA: Prices of mobile phones, laptops, TV sets and printers are set for a second hike in as many months as the rupee has upped costs for companies just ahead of the crucial festive season.Companies said the pressure from a depreciating rupee refuses to ease and uncertainty persists over

BD to buy more cotton from Uzbek

DHAKA: Bangladesh plans to import 200,000 tons of cotton a year from Uzbekistan in a new deal to be finalized soon.Negotiations are underway to set its terms in a Memorandum of Understanding between the two governments, the Financial Express quotes Bangladesh Garment Manufacturers and

Ashuganj fertilizer factory goes phut again

BRAHMANBARIA: Urea fertilizer manufacturing at Ashuganj Zia Fertilizer Factory halted for mechanical breakdown early Thursday, for a fifth time in less than three months.Factory sources said leakage in the boiler forced the suspension of production. The factory’s daily output is 1400