Business

Biman Bangladesh Airlines has changed its decision of selling out two aircraft as the government has granted sovereign guarantee to the national flag carrier for pre-delivery payment of two Boeing-737-800 aircraft. Biman officials said that two Boeing-737-800 aircraft will be added to Biman’s fleet in mid-2015. For this, Biman has to pay around USD

The anti-sweatshop movement, which blossomed on college campuses in the 1990s, is making a resurgence. This week, Duke University announced that it would require manufacturers of Duke logo apparel to sign an agreement about building and fire safety in Bangladesh. The move comes in the aftermath of

Local think-tank Unnayan Onneshan has said the current anti-poverty strategies have failed to understand the social dimensions of poverty and power imbalances between different classes. The research organisation in a recent book titled ‘Measuring Multidimensionality: State of Poverty in Bangladesh 2013’ said the rate of poverty reduction

Traders eye bigger export earning, urge govt to check smuggling The prices of rawhide following Eid-ul-Azha this year posted more than 30 per cent higher that last year as the demand for the item increased in the international market as well as traders set the minimum price of hide of the sacrificial animals in the ... Read more

The prices of some essential commodities remained volatile on the capital’s kitchen markets over the week ending Friday because of the celebration of Eid-ul-Azha on Wednesday. The prices of onion, green chilli and some spices shot up ahead of Eid. The prices, however, came down on Friday as the demand decreased, said retailers.

The import of rice skyrocketed in the first two months of the current financial year 2013-14 as the production of the food grain declined in the period than that of previous FY13 due to an unfavourable business situation for the farmers, said Bangladesh Bank officials. BB data released on Sunday showed that

Factory inspection likely to begin late this month The government and the International Labour Organisation are jointly going to launch a project to address the challenges the country’s readymade garments sector is facing now, labour ministry officials said. They said the project would be commenced on October 22. Under the project ‘improving working

Spice prices except onion and ginger remained stable on both the retail and wholesale markets ahead of Eid-ul-Azha. According to the traders, the supply of spices on the market is adequate as the items have been smuggled in huge quantity from India. Cumin, cloves, cardamom, black pepper

The rate of hunger reduction is slower than poverty reduction rate in the country while the decline rate in both cases has slowed down recently, said the local think-tank Unnayan Onneshan. In a recently released report titled ‘Poverty, Hunger, Nutrition, and Food Production in Bangladesh’, it also said rapid price increase of food items eroded

Spot orders from the global buyers at the 24th Bangladesh Apparel and Textile Exposition which ended on Saturday declined for the second consecutive year as many international buyers skipped the fair this year. Leaders of the Bangladesh Garment Manufacturers and Exporters Association on Sunday said the Batexpo received spot orders worth $58.37

Bangladesh Telecommunication Regulatory Commission has tightened payment rules for the international gateway operators by adding a clause to realise call tariff dues from performance bank guarantee. BTRC officials said the move came after the telecom regulator faced severe criticism from the government and the parliamentary standing committee for

The Bangladesh Securities and Exchange Commission has finalised a guideline for conversion of close-end mutual funds into open-end mutual funds as nine mutual funds under the Investment Corporation of Bangladesh move to grab the scope of conversion. The BSEC issued a directive in this regard on Thursday. Earlier in July an amendment to the

Indo-Bangla Jt Customs Meeting In Dhaka Bangladesh to seek removal of CVD on RMG, dev of Indian land ports Customs officials of Bangladesh and India will meet on October 21-22 in Dhaka with an aim to enhance trade facilitation mechanism including removal of non-tariff barriers and improvement of infrastructure at land ports and land customs ... Read more

The Bangladesh Bank on Sunday said that the scheduled banks would have to submit their audited financial balance sheets to the central bank within two months after the end of each calendar year. Previously the banks got three months to submit the reports. The BB issued a circular to managing

A memorandum of understanding was on Sunday signed for the relocation of leather industry at Hazaribagh to Dhaka Tannery Estate at Savar. The Bangladesh Small and Cottage Industries Corporation, Bangladesh Tanners Association and the Bangladesh Finished Leather Goods and Footwear

The Bangladesh Bank has accelerated its purchasing of US dollars from the scheduled banks to keep the inter-bank foreign exchange market stable ahead of Eid-ul-Azha. According to the latest central bank data, the BB bought dollar worth $328 million in the first 10 days of this month from the banks to offset higher supply

Bangladesh Bank on Sunday said that the scheduled banks would have to submit their confidential part of management report audited by external farms to the central bank within 75 days after end of each calendar year, instead of existing 90 days. The BB issued a circular to managing directors and chief executive officers of all scheduled ... Read more

Grameenphone on Saturday launched 3G service for its customers of selected areas in Chittagong and Sylhet on commercial basis. Grameenphone is the first operator to lunch 3G in Sylhet commercially, said a news release. Colourful processions were brought out in both the cities to mark the occasions. The Sylhet mayor, Ariful Huq Chowdhury,

The National Board of Revenue continued to struggle in revenue collection as it failed to attain its collection target in the first quarter of the current financial year that made the revenue officials worried about achieving the target set for the entire year, NBR officials said. They said in July-September, revenue collection

Traders on Saturday set the minimum price of rawhide of the sacrificial animals in the face of a threat from the commerce ministry of lifting the ban on export of the item. Leather sector leaders at a meeting at the Bangladesh Finished Leather, Leather Goods and Footwear Exporters Association’s office set separate rates for