Business

Foreign diplomats say at a views exchange meeting Foreign diplomats on Wednesday said that Bangladesh must ensure international standards in the readymade garment sector to retain GSP facility in different markets across the globe. The global community and buyers are monitoring the country’s progress towards full compliance in the RMG sector as the issue is ... Read more

Three decades after it started doing business with suppliers in Bangladesh, Hennes & Mauritz AB is seeking greater control of production in a nation where it is among the largest purchasers of clothing, reports Bloomberg. H&M this year agreed to become the sole client of two factories in Bangladesh and one in Cambodia, helping convince building ... Read more

Bangladesh Bank on Wednesday said the number of clients of mobile banking service crossed one crore. According to a BB press release, the number of clients of the mobile banking stood at 1.02 crore on November 11, 2013 from 50 lakh in April of this year. The BB press release said that the mobile banking

The country’s overall imports increased by 8.60 per cent in October of this year against a 10.79-per cent negative growth in the corresponding month of last year due mainly to higher import of food gains — particularly rice and wheat — and chemical fertilisers. According to the latest data of Bangladesh Bank

Unapproved Commodity Exchange BJCE tells BSEC it is ready to change name Bangladesh Jute and Commodity Exchange has expressed the intention to change its name if the Bangladesh Securities and Exchange Commission desires so. The BJCE expressed the intention in its Monday’s reply to the show cause notice earlier served on the exchange by the ... Read more

Dhaka stocks inched up on Wednesday after two sessions in the red, but the turnover went up thanks to increased participation of the investors and profit taking sell-offs. The benchmark general index of Dhaka Stock Exchange, DSEX, closed at 4,212.72 points, adding 0.35 per cent, or 15.01 points. DS30, the blue-chip

The Dhaka Stock Exchange signed a letter of intent with Kunming Pan Asia Gold Exchange to jointly promote commodity market in Bangladesh and China. A commodity exchange is an exchange where various commodities and derivatives (financial contract) are traded. DSE president Ahasanul Islam

The Voice of Business, a business magazine publishing club at the Faculty of Business Studies, University of Dhaka, invites submissions for its VOB Writing Contest, a competition for the students of the faculty, said a press release. A booth of VOB has been set up in front of the FBS academic building where an entrant can ... Read more

The country’s trade deficit declined to $1.26 billion in the first quarter of the current financial year from $1.87 billion in the corresponding period of the FY13. The deficit narrowed by 37.37 per cent in July-September of the FY14 compared with that of a negative growth of 1.67 per cent in the same period

The ongoing political unrest and programmes like general strikes, shutdowns and blockade by opposition political parties have compounded the problem of manufacturing and services sectors, the Metropolitan Chamber of Commerce and Industry observed. The trade body in its first quarter economic

Political Turbulence RMG makers fear fall in summer export orders Readymade garment exporters fear that export orders for the next summer may fall as the international buyers are now scared of visiting Bangladesh due to the ongoing political unrest. The Buyers’ Forum, an association of the buyers’ representatives in Dhaka, has already hinted that if ... Read more

The Bangladesh Bank on Tuesday said that from now on scheduled banks and non-bank financial institutions would be able to disburse loans from a Tk 600-crore BB fund to the micro and small enterprises dedicated to publishing knowledge-based and creative books and their marketing. The BB issued a circular to managing directors

The coordination council on resources and macro-economy on Tuesday decided to slash the size of budget considerably in January for proper implementation of the fiscal measures, officials said. However, the council, headed by finance minister AMA Muhith, in a meeting at the secretariat turned down a suggestion to lower the country’s projected

Network Mobility No BTRC dept wants to review RanksTel application, inter-dept committee formed The Bangladesh Telecommunication Regulatory Commission has decided to form an inter-departmental committee to review a RanksTel’s application for countrywide network mobility without mobile licence as no single department wants to take the responsibility at the fag end of the government tenure, said ... Read more

The prices of essential commodities including vegetables soared up in the city due to ongoing hartal, reports BSS. Hartal disrupted the supply chain throughout Khulna region. The transport owners are refusing to run vehicles fearing arson and vandalism by picketers. Prices of almost all vegetables soared by

Hernan Pineda risks his life daily digging for gold, toiling in a dangerous, unlicensed mine in Colombia, in a crude settlement that has sprung up in a sort of modern-day gold rush, reports AFP. Many here in San Antonio, located in the country’s northwest, live in shacks made of plastic or wood. But the money ... Read more

The 170th branch of National Bank Limited has been inaugurated at Gopalgonj on Monday. Parveen Haque Sikder, director and chairperson of the executive committee of the bank inaugurated the branch as chief guest, says a press release. A discussion meeting was held on the occasion. Neaz Ahmed, managing director and chief executive officer of the bank

International Monetary Fund chief Christine Lagarde said yesterday that Venezuela’s economy appears stressed and that the country likely will face “difficult policy choices” soon, reports AFP. “I don’t think that the economy is doing well at the moment and we certainly understand that they are using reserves in a very significant amount,”

China Sourcing Fair ended on Sunday with Chinese manufacturers having trade leads with African buyers. The fair stated on Thursday with more than 800 manufacturers from China exhibiting their products to African buyers. Bill Janeri, the fair organizer, told Xinhua that the fair was a success. “The show was great — one of our best since we ... Read more

The prolonged political turmoil over the next general election is not only degrading the country’s political climate but also creating a scope for the readymade garment (RMG) owners to dodge the workers’ demand for hiking their minimum wage, observed workers’ leaders, reports UNB. Though both Awami League and BNP claim to represent the majority