Tuesday, 06 Jun, 2023

Business

Sujan made USBCCI Bangladesh part coordinator 

Enamul Kabir Sujan has been appointed as the coordinator of U.S. Bangladesh Chamber of Commerce and Industry (USBCCI) Bangladesh part. A bilateral agreement was signed at USBCCI's office in New York, USA in this regard. USBCCI President Md. Liton Ahmed, Director Sheik Farhad,

Bangladesh Business Summit-2023 to be held in March

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade organization of Bangladesh, is going to host the three-day 'Bangladesh Business Summit 2023' on March 11-13 at the Bangabandhu International Conference Center (BICC), Dhaka as part of the

Indian MP asks Delhi to clarify if it pushed for Adani project with Bangladesh

India’s Trinamool Congress MP Jawhar Sircar has sought a clarification from minister for external affairs, Jaishankar, on whether the Narendra Modi government had been “actively involved” in pushing the Adani group’s power project with Bangladesh. The Rajya

Nestle to raise prices of KitKat again

KitKat maker Nestle has said it will raise its prices again this year, despite an 8.2% increase in 2022. The world's biggest food company said it would be forced to charge more to cover the increasing cost of ingredients. Nestle, which also makes Buitoni pasta, Buxton mineral

Cancel directorships to recover their default loans: Dr Mirza Azizul

Eminent economist Dr AB Mirza Azizul Islam said that to recover defaulted loans from the directors of private banks, their directorship should be canceled.  If necessary, the property of these debtors should be confiscated as well, he also said. He expressed this opinion while

Anxiety over mysterious bank loans

The directors of various banks are ruining the 60 banks of the country by taking anonymous loans by showing the names of unknown persons in mutual collusion through forgery and irregularities.  The banking sector is being destroyed by their terrible ill activities. The

Dr Mustafiz finds wrong signal from anonymous loan

Center for Policy Dialogue (CPD) distinguished fellow Dr Mustafizur Rahman said the anonymous loan in banking sector gives wrong signal to the economy. "Such fake loans should be stopped to encourage good borrowers. Persons involved in the process should be brought under the

Dr Farashuddin for exemplary punishment of defaulters

Former Bangladesh Bank Governor Mohammed Farashuddin has suggested for ensuring exemplary punishment for the loan defaulters and their supporters. The eminent economist thinks that political mandate of the government is important to bring order in the country's banking sector.

Adani to take away Tk 1,26,581cr for capacity charge

India's Adani Group as per agreement will take away Tk 1,26,581 crore from Bangladesh in the name of capacity charge. Bangladesh is already paying Tk 20,000 crore to several power companies in the country as capacity charge. Not only that, Bangladesh has to pay huge amounts of US

China’s gold market in January: gold reserves continued to rise

Key highlights: Gold prices kicked 2023 off to a strong start. Both the Shanghai Gold Price Benchmark PM (SHAUPM) in RMB (+2%) and the LBMA Gold Price AM in USD (+5%) extended their strength from late 2022 The Shanghai-London gold price premium experienced a mild rebound, putting

How gold protects investors during times of inflation

International Desk Investing in gold can not only offer perks like portfolio diversification but also protection against inflation. Gold — as well as assets like real estate and bonds — have proven to be a solid inflation hedge over the years.  Both Inflation and

Default and laundering put banking sector at risk

Despite economic progress over time, Bangladesh's banking sector is facing crises due to loan default and money laundering by a section of unscrupulous people. Several state-owned and private banks are now in crisis due to non-repayment of loans. As a result, genuine businessmen

BB to release new Tk 1000 note tomorrow

Bangladesh Bank (BB) is going to issue new banknotes of Tk 1,000 denomination signed by its governor, Abdur Rouf Talukder, from tomorrow (Feb 16).  It will initially be issued from the Motijheel office of the central bank and later from other branches as well, said a BB press

Govt to procure 33.60 lakh MMBtu LNG, 1.10cr litres soybean oil, 8,000 MTs lentil

The Cabinet Committee on Government Purchase (CCGP) today approved separate proposals for procuring some 1 cargo or 33.60 lakh MMBtu LNG from the spot market, 1.10 crore litres of soybean oil and 8,000 metric tons of lentil to meet the growing demand. The approvals came from the 6th

Air India orders 470 new planes

Air India has ordered 470 new aircraft - a record for the aviation industry - as the carrier pushes to become bigger global player. Chairman N Chandrasekaran said the airline had its sights set on becoming "a world-class proposition". He said the orders from Europe's

Adani: India watchdog probing Hindenburg fraud allegations

India's markets regulator has confirmed that it is investigating allegations made by Hindenburg Research against companies owned by multi-billionaire Gautam Adani. The Securities and Exchange Board of India (SEBI) also says it is examining market activity around the report. Mr

Pension Scheme: National Pension Authority formed 

The government has formed the National Pension Authority to bring in people from all walks of life under the universal pension scheme. The authority has been formed as per the relevant section of the Universal Pension Management Act, 2023 which was passed in the parliament on January

Bashundhara Group wins Superbrands awards for 4 products

Bashundhara Group has won the internationally prestigious ‘Superbrands Award’ for its four products ---paper, tissue, diapant and liquefied petroleum gas (LPG). Superbrands Bangladesh announced the awards at a grand ceremony at a city hotel on Saturday. Forty most

Gold traders can participate in capital market

Bangladesh Securities and Exchange Commission (BSEC) chairman Dr. Shibli Rubayat-Ul-Islam said gold traders can participate in the capital market if the company is profitable.  The BSEC chairman was addressing a seminar organized by Bangladesh Jewellers Association (BAJUS) on

Govt urged to provide gold sector facilities like garments

Bangladesh Securities and Exchange Commission (BSEC) chairman Dr. Shibli Rubayat-Ul-Islam urged the government to facilitate the gold sector in penetrating foreign markets as it earlier facilitated the garments sector to help reach today's position. He said: "If the