Business

High tariff, strong yen caused fewer shipments from Japan in July-October The import volume of used or reconditioned Japanese cars has nosedived by more than 30 per cent in the first four months of the current fiscal year from that in the corresponding period of the last fiscal year. According to car dealers, the sales ... Read more

Southeast Bank has recently opened two new ATM booths at its Agrabad and Oxygen Morh branches in Chittagong, said a news release. Bank’s director Zaidi Sattar inaugurated the booths as chief guest, said a news release. Among others, deputy managing director Shahid Hossain, senior executive vice-president and

Dhaka stocks on Thursday bounced back from the previous day’s steep fall with the benchmark general index of the Dhaka Stock Exchange gaining 128.60 points, or 1.52 per cent, to close at 8,580.19 points. The market recovered fast as investors went on a buying binge after the Securities and Exchange Commission on Wednesday had postponed ... Read more

The management of Hi-Tech Sportswear Ltd, a garment unit of Korean Youngone Corp, yesterday announced an indefinite closure of its Dhaka-area factory after a wildcat strike spread among senior workers this week. Most of the company’s 8,500 workers in the Dhaka Export Processing Zone (DEPZ) walked out four days ago, demanding reinstatement of a “temporary” Tk ... Read more

Prime minister’s health and social welfare adviser Syed Modasser Ali on Thursday inaugurated the Bangladesh Share Market Exhibition 2010 at the Bangabandhu International Conference Centre in the city. Around 40 securities houses have put up their stalls at the fair organised by Mirror Media and Productions, a Bangladesh-India joint-venture event management company, expressly to make

Visitors have been thronging the National Furniture Fair-2010, with sales posting a more than satisfactory volume in the first three days, the organisers said on Wednesday. The six-day fair organised by the Bangladesh Furniture Industries Owners’ Association began at the Bangabandhu International Conference Centre in the city on

Morshed Murad Ibrahim has been elected the president of Chittagong Chamber of Commerce and Industry (CCCI). The newly elected 24 members of the board of directors in a meeting yesterday chose the chamber’s new leader

The public sector should adopt the best e-governance practices to increase its efficiency, and ensure transparency and accountability, speakers said at a discussion in Dhaka yesterday. The e-governance initiatives, as the test cases across the globe, show results in better reduction of operational costs and expenses, they

The relaxed rules of origin in the European Union (EU) will allow Bangladesh to increase its exports to the eurozone, said a trade adviser in Dhaka yesterday. Exports of both ready-made garment products and other products, such as bicycles could increase, said Zillul Hye Razi, trade adviser of the EU trade delegation to Bangladesh, at ... Read more

Profit-taking, SEC’s directives deemed as main factors The benchmark index of the Dhaka Stock Exchange (DSE) Tuesday suffered the third highest single-day plunge since its introduction in 2001 amid profit-taking and due to the regulator’s fresh directives. Profit-taking and recent directives by the Securities and Exchange Commission (SEC) to tame the over-heated market jointly affected ... Read more

Export earnings crossed the $8.27 billion mark in the July-November period, registering nearly 36 percent growth over the same period a year earlier, according to the latest Export Promotion Bureau (EPB) data. Exports of the country’s main foreign-exchange earner, knitwear, grew nearly 37 percent, to $3.53 billion, while woven exports grew nearly 36 percent, to ... Read more

Keya Detergent and Keya Soap, sister concerns of Khaleque Group of Industries, will be merged with its another sister concern Keya Cosmetics Ltd. The decision was taken at the board meetings of the three different companies of Khaleque Group. When contacted, Nurul Islam, company secretary of Khaleque Group told the FE that the

All indices of Dhaka stock exchange scaled new heights and turnover set a new mark Sunday as banks surged in anticipation of a bumper year-end profit, luring more investors to the overheated market. Dealers said over-enthusiastic retail investors have shoveled in fresh funds into the market to steer its benchmark index closer to 9,000, defying ... Read more

Bangladesh is no longer an aid receiving country for Denmark, it is a also a trade partner and a place where the Danish investors can do business, said Jan Moller Hansen, deputy head of mission of the Danish embassy in Dhaka. “Bangladesh in recent years showed a steady growth of nearly 6 percent despite the ... Read more

Rajdhani Unnayan Kartipakkha (RAJUK) is going to offer more plots and apartments at its Jhilmil Residential Project by Feb next. RAJUK chairman Engineer Md Nurul Huda told newsmen that they would call applications for plot distribution through advertisement in the newspapers by February next. He said 80 per cent work of the Jhilmil project has ... Read more

The Japan government has finalised the modalities of its pledged US$400 million loan for building Bangladesh’s largest rail-cum-road bridge over the mighty Padma, officials said. Finance ministry officials said Japan would charge 0.01 per cent interest for its proposed loan providing 40 years’ repayment facilities with 10 years’ grace

Investors at Dhaka Stock Exchange went for heavy buying of banking and non-banking financial issues pulling the benchmark general index of the bourse by 114.92 points on Thursday. The total traded turnover on DSE also rose by Tk 700.33 crore on the closing day of the week as investors, buoyed by the market regulators’ latest ... Read more

Social Islami Bank has filed a suit against Gonoshasthaya Grameen Textile Mills for not paying off a Tk 3.66 crore loan in time. Md Sadequl Islam, Sirajganj district branch manager of the bank, filed the suit with Sirajganj Artha Rin Adalat (money loan court) on

Bangladesh has achieved remarkable success for improving its regulation and control of veterinary drugs in shrimp farming as well as for the development of a unique traceability system under public private partnership (PPP), said a government official. “We got acclamation from the EU authorities for the development of a system to ensure food

Ezetop, an Ireland based top-up facility provider, is set to provide services to non-resident Bangladeshis (NRB) from March. The company will buy talk-time from local telecom operators and sell to people living or working abroad. Consumers will be able to instantly top-up the credit balance on their friends and family’s