Business

Back in 1978 in a boardroom near Lake Geneva, a bunch of nervous Philips inventors demonstrated a device that was to revolutionise the entertainment industry for the next three decades, reports AFP. Called the “Pinkeltje” after a small Dutch gnome in a children’s story, the device performed flawlessly — and so the world’s first Compact Disc ... Read more

Russia’s failure to significantly change its energy-dependent economic model under President Vladimir Putin is consigning the country to potentially decades of low growth and eroding its status as a top emerging economy, reports AFP. The Russian economy ministry on Thursday dramatically confirmed what was obvious to many, by downgrading its estimate

The International Monetary Fund (IMF) yesterday approved extending 260.8 million U.S. dollars to Jordan as part of 2 billion U.S. dollars loan to the Arab kingdom. The amount increases the volume of money Jordan received from the IMF to 1.043 billion dollars as part of the loan, the IMF said in a statement on its ... Read more

Biman Bangladesh Airlines has launched Frequent Flyer Programme (FFP) named ‘Biman Loyalty Club’ and a new duty free sky shop with a view to raise the standard of the national flag carrier, reports BSS. Biman launched its new product in a colourful ceremony with the presence of Civil Aviation and Tourism Minister M Faruk Khan ... Read more

Economists, businesses express deep concern Economists and business leaders have expressed their deep concern over the ongoing political instability and feared that the investment and economic growth will be hampered largely as they see no immediate solution to the ongoing political crisis. The ongoing violence surrounding the elections

The government is not ready right now to settle a South Korea’s proposal for duty concessions for its eight products in the Bangladesh’s market because of time constraints on the current cabinet, commerce ministry officials said. They said the government had already conveyed its inability to settle the issue to South Korea, saying that a decision ... Read more

India’s apparel exports are rising by snatching orders that would otherwise have gone to China and Bangladesh, said a Business Standard report. The report said exports were already up driven by demand coming in from major textile importing countries like the US and the eurozone. For

Civil Aviation Authority of Bangladesh is yet to introduce its own organogram which is the main condition set by US Federal Aviation Administration for the CAAB to be upgraded to category-1. As the CAAB has been certified as category-2 by the FAA for the last four years, airlines registered with the civil aviation authority can ... Read more

Dse Weekly Review Upbeat bank shares keep stocks up for 2nd week Dhaka stocks advanced last week, the second week in a row, after a four-week bear run as heavyweight bank shares maintained gains. In the week from November 3 to 7, the bank sector gained 9.95 per cent after rising by 6.61 per cent in ... Read more

For technology executives weighing market flotations for Silicon Valley startups, this week’s gangbusters Twitter Inc initial public offering sent a powerful signal: full speed ahead. About a dozen private companies are valued at more than $1 billion, and many of them have already been holding informal talks with bankers. Now,

10 banks fail to keep required provision in Q3 The overall shortfalls in provision against defaulted loans in the banking sector increased by Tk 819.06 crore or 33.25 per cent in the third quarter of this year with 10 banks failing to keep required provision in the period. According to the latest BB data, the shortfalls ... Read more

Factory Inspection Accord, Alliance suggest some modifications of common checklist The government, the EU Accord and the North American Alliance have identified some points that would require modification after the three parties reached almost a consensus on their respective recommendations on a common checklist for garment factory inspection. Their observations came at a two-day

Purchase Of Two Boeing Aircraft Biman seeks BB fund for pre-delivery payment Biman Bangladesh Airlines has sought funds from Bangladesh Bank to pay the pre-delivery payment for purchasing two new Boeing-737-800 aircraft which are due to join Biman’s fleet in mid-2015, said Biman officials. Biman would have to pay around $ 53.5 million as PDP before ... Read more

The prices of rice increased and those of most of the other commodities remained high in the city’s kitchen markets over the week ending Friday. Traders said the prices of rice rose by Tk 2-4 a kilogram over the week as the city’s markets saw a supply shortage of the staple food because of the

US job growth likely slowed in October as a partial shutdown of the government delayed hiring and forced some workers to stay home, undermining the economy’s fourth-quarter growth prospects, reports Reuters. Employers are expected to have added a modest 1,25,000 new jobs to their payrolls last month, according to a Reuters survey of economists,

The International Monetary Fund said on Friday it was broadly satisfied with Pakistan’s economic progress after stepping in to save the country from a possible default earlier this year, reports Reuters. The IMF has agreed to loan Pakistan $6.7 billion over three years as part of the programme, but its condition of quarterly reviews means the ... Read more

Loan repayment worsens in Q3 Classified or defaulted loans in the banking sector increased by Tk 13,994.59 crore in the first nine months of this year because of sluggish business sector amid political turmoil and bank scams. According to the Bangladesh Bank data released on Thursday, the overall defaulted loans increased to Tk 56,720.10 crore ... Read more

The ministry of finance on Thursday gave approval to set up Palli Sanchay Bank despite reservation showed by Bangladesh Bank for yet another specialised bank. The ministry gave the approval at a meeting presided over by finance minister AMA Muhith at the secretariat. Muhuth told reporters that the central bank

Commerce ministry decides amid price hike The commerce ministry on Thursday decided that the government would provide agricultural loans at 4 per cent interest to onion producers to increase the production of the commodity to meet annual demand for the item in the country, officials said. They said the ministry made the decision as it

Bangladesh Securities and Exchange Commission on Thursday served a show cause notice on Bangladesh Jute and Commodity Exchange to explain why the latter had initiated a move to run a commodity exchange service without the approval of the commission. The BJCE is a private company which has recently