Wednesday, 19 Jan, 2022

Business

Indian new strategic oil reserves to be run privately

In a major development, a private firm or consortium will run the two new underground crude oil storage facilities planned in Odisha and Karnataka in a move that discards an earlier plan by the government to build these reserves through the public sector Indian Strategic Petroleum

Premier Cement's EPS surges in Q3 

Premier Cement Mills Ltd’s consolidated earnings per share (EPS) as well as net profit growth surged in third quarter (Q3) for January-March, 2021. The board of directors of the company in a virtual meeting on Saturday (May 8) approved the third quarter (Q3) un-audited financial

Brexit: European Parliament backs UK trade deal

The European Parliament has ratified the post-Brexit EU-UK trade deal - a key move to ensure that tariff-and quota-free trade continues. The Trade and Co-operation Agreement (TCA) has been operating provisionally since January. MEPs voted in favour by 660 votes to 5, while 32

French warn UK ahead of vote on Brexit trade deal

The European Parliament is expected to ratify the post-Brexit EU-UK trade deal, amid tensions including a French threat of reprisals against the UK. The Trade and Co-operation Agreement (TCA) has been operating provisionally since January and is expected to be ratified by MEPs later on

Bashundhara Group gets ‘Intellectual Property Protection Award’

Bashundhara Group, the largest industrial conglomerate of the country, has got the ‘Intellectual Property Protection Award’. Bangladesh Copyright Office under the Ministry of Cultural Affairs has recognised the business group for registering highest intellectual property in

Low-quality bitumen being imported amid lax monitoring

Low-quality bitumen is being imported into the country in absence of a proper monitoring system, causing a huge loss for the government. As low-quality bitumen has been used in building and repairing roads across the country, roads get dilapidated within a short period of time. The

Nagad crosses 4 crore users’ landmark, Tk 400cr daily transaction

Nagad, the digital financial arm of Bangladesh Post Office, has recently surpassed the 4 crore users’ landmark. Nagad, the fastest-growing mobile financial service of this kind in the world, has also gone past Tk 400 crore mark of the daily transaction in just two years of its

Like to leave business if tax anomalies not removed: Syed Nasim Manzur

The entrepreneurs of Bangladesh are exposed to a hostile taxation system which is detrimental for expansion of local and foreign investments, said Apex Footwear Ltd Managing Director Syed Nasim Manzur. Investors are facing stepmother behaviour from the authorities concerned, he said,

Bashundhara City Shopping Mall to remain open on Tuesday

Bashundhara City Shopping Mall, the country’s largest shopping centre and a concern of Bashundhara Group, will remain open on Tuesday (April 13). Habibur Rahman, general manager of Bashundhara City, said on Monday (April 11) that despite the weekly holiday (Tuesday), the mega

10am-1pm bank transaction on April 12-13

The Bangladesh Bank has rescheduled timings of transactions in commercial banks from 10:00am to 1:00pm for next two days. According to a circular issued by the central bank on Sunday, the public transactions will take place as per new schedule on Monday and Tuesday. However, the

Plot on to destroy LPG industry

□ Multifaceted factors influence LPG prices □ Highly completive market overburdened by high VAT and tax burden, regulatory expenses □ LPG price still cheaper in Bangladesh compared to other S Asia countries □ High transportation cost, logistic limitations remain a challenge

Faruque Hassan elected as BGMEA president

Faruque Hassan has been elected as the president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) for the term 2021-2023. He led Sammilita Parishad won the biennial election securing 24 posts of directors while the other panel, Forum Panel, led by ABM Shamsuddin

Mills-industries to remain open in lockdown 

The government decided to announce a seven-day lockdown shortly, but the mills and industries will remain out of the ambit of the lockdown. The mills and industries will remain open to keep the cycle of economy unaffected, said state minister for Public Administration Farhad Hossain,

Vietnam's Khánh Hòa province promotes ties with Indian businesses

The leader of the south-central province of Khánh Hòa called on Indian investors to explore its potential and strengths and the cooperation opportunities available in localities during an online conference to promote cooperation between the two sides on Thursday (March 25).

Saudi Arabia keen to invest $15 billion in Bangladesh: Ambassador

Saudi Arabia is keen to invest $15 billion in Bangladesh. Not only Saudi companies are planning to invest in Bangladesh, but Bangladeshi entrepreneurs are also being encouraged to invest in the oil-rich country. Saudi Ambassador to Bangladesh Essa Yussef Essa Al Dulaihan expressed his

Bashundhara Group - Agrani Bank hold view-exchange meeting 

Bashundhara Group Chairman Ahmed Akbar Sobhan visited the head office of Agrani Bank in Dilkusha Commercial Area of the capital on Saturday. He held a view-exchange meeting with the bank Chairman Dr Zaid Bakht and its Managing Director Mohammad Shams-Ul Islam. Ahmed Akbar Sobhan

India's FinTech industry valuation estimated at $150-160b by 2025: Report

New Delhi: The Federation of Indian Chambers of Commerce & Industry (FICCI) and Boston Consulting Group (BCG) on Saturday unveiled 'India FinTech: A $100 Billion Opportunity' report. The report details the findings from the study that BCG and FICCI undertook to size the

India’s e-commerce market to hit $111 billion by 2024

India’s e-commerce market is expected to increase by 84 per cent by 2024 to $111 billion, according to a new report from global financial technology company FIS on Wednesday. The growth will be driven by mobile shopping, which is projected to grow 21 per cent annually over the

Warren Buffett finally joins exclusive $100bn club

Warren Buffett has finally joined the exclusive $100bn (£72bn) club that includes Elon Musk, Jeff Bezos and Bill Gates. The 90-year-old is the chairman of investment firm Berkshire Hathaway, which has seen its shares rise to a record level this year. On Wednesday his net worth

Gold prices drop by Tk 2,041 per bhori

Gold prices dropped by Tk 2,041 to Tk 71,150.40 a bhori (11.664 grams) in the local market on Tuesday. Bangladesh Jewellers Samity (BAJUS) took this decision to balance the market in line with the prices of gold in the international market, said a press release. The new prices came