A stride in solar panel manufacturing Rahimafrooz Renewable Energy Ltd (RREL) is set to manufacturer solar panels in the country by next month, to tap growing demand for green energy at home and abroad. The company has already set up a plant in Ashulia in Dhaka to manufacture 18MW PV (photovoltaic) solar panels a year ... Read more
Business
Local footwear pulls in top world retailers
Bangladeshi exporters look to brighter days ahead Bangladesh’s footwear industry has attracted attention of globally known chain retails that now consider buying shoes from here in a bid to diversify their sourcing base. Global retail chains such as JC Penny, Marks & Spencer, Tesco and Wal-Mart, which now buy clothes from Bangladesh, are contacting leading ... Read more
Stock index hits 2-year low
Prompts agitating investors to demo in front of SEC Capital market investors on Monday staged demonstrations on the streets in Motijheel and in front of the Dilkusha office of the Securities and Exchange Commission as the stock prices on the Dhaka bourse went on a free fall and its general index fell to below the ... Read more
$300m WB credit to improve rural road network
The World Bank (WB) will provide Bangladesh with around US$ 300 million for improving the country’s rural road network. The concessional credit would be disbursed for the second phase of the Rural Transport Improvement Project (RTIP) as the first phase of the project will come to an end shortly, said
Banks’ move fails to lift stocks
Key index of Dhaka bourse plunges 180 points No efforts from the regulator and the private sector proved effective to pro up the stumbling stockmarket, which yesterday slipped again by more than 3 percent. Owners of commercial banks, under their platform Bangladesh Association of Banks (BAB), decided on Sunday to launch a Tk 5,000 crore ... Read more
GP, Jaago to launch pilot ‘online classroom’
Grameenphone (GP) in partnership with Jaago Foundation is going to initiate a venture named “Online Classroom” with the aim to ensure high quality education in both sub-urban and rural areas of Bangladesh. A signing ceremony between Grameenphone and Jaago Foundation took place in this regard recently. Tore Johnsen, chief executive officer, GP and Korvi Rakshand, ... Read more
PM unveils locally assembled laptop
Prime Minister Sheikh Hasina yesterday unveiled a locally assembled low-cost laptop — Doel — in a major step towards spreading the uses of ICT across the country as part of her election promise to make the country a “Digital Bangladesh”. The much-talked Doel laptop will be available in four different models at Tk 10,000, Tk
Pragoti makes a mark in car assembling
Heavy Industry Pragoti makes a mark in car assembling PRAGOTI Industries Ltd is a well-known name in Bangladesh. From assembling various kinds of vehicles like cars, buses and trucks, it recently moved to make headlines with a new project. The company has embarked upon assembling a sports utility vehicle (SUV) — the Mitsubishi Pajero Sport. ... Read more
Stocks take another dip
Key index plunges 3.39pc on panic sales The stockmarket regulator sits with all stakeholders today after stocks plunged by more than 3 percent yesterday, maintaining the recent falling trend in share prices. The fall was due to panic sales amid a lack of confidence among investors. “The commission called a meeting with stakeholders, including the ... Read more
Submarine Cable Company submits IPO prospectus
Bangladesh Submarine Cable Company has submitted its initial public offering (IPO) prospectus to the stockmarket regulator, revising its previous listing plan, officials said. Earlier the telecom service provider planned listing through a direct listing method, but now it opts for a fixed price system. Under the revised plan, the company will float 3.10 crore ordinary ... Read more
WB approves $172m for solar panels
The World Bank approved $172 million on Tuesday to support the ongoing rural electrification and renewable energy development (RERED) project to install an additional 630,000 solar home systems and other renewable energy mini-grid schemes in the country. The global lender is providing the credit to the RERED project, following the project’s success
Bank credits to large industries on decline
Banks’ and financial institutions’ credit to the big industries decreased 0.92 per cent in the April-June period of this year compared to the previous quarter of January-March, according to the latest data of the central bank. And the industrial term loans disbursement posted only 1.47 per cent growth in the April-June period. Experts and business ... Read more
Stocks finish flat
Dhaka stocks ended flat yesterday following a topsy-turvy trading session due to the inactiveness of institutional investors. The benchmark General Index, DGEN, the indicator of Dhaka Stock Exchange, closed at 5,727, after adding 0.97 points or 0.02 percent. “It is matter of concern that turnover is very low as institutional investors are yet to be ... Read more
BTRC claim: GP seeks govt intervention
Mobile operator Grameen-phone yesterday sought the government’s intervention to resolve a dispute with the telecom regulator over unpaid revenue and tax. On Monday, Bangladesh Telecommunication Regulatory Commission asked the operator to pay Tk 3,034 crore in unpaid revenue, accumulated interest payment and
Port city loses glory in car business
Sales of reconditioned vehicles have fallen in the port city in recent years due to a price hike. The trend is also likely to continue as the government, in this year’s financial budget, has only allowed the import of vehicles up to three years old and the prices of cars in the Japanese market have ... Read more
BRAC Bank launches card for farmers
A stitch in time saves nine. Some work must be done on time. Seasoned farmer Mainul Islam knows it well. It is important to sow seeds, ensure irritation, fertiliser, pesticide and weeding just in right time, according to him. But Islam who lives in Jhenaidah ended up with poor harvest every season as he could ... Read more
GP clears stand on regulator’s claim for Tk 3,034cr
Grameenphone yesterday refuted the claim of the regulator that the mobile operator will have to pay Tk 3,034 crore in unpaid revenue and tax. Kazi Monirul Kabir, chief communications officer of the company, said they “strongly disagree” with the numbers the regulator has claimed in a letter sent to GP on
ICAB gives out awards for transparent reports, accounts
Prime Bank has bagged the top award given by Institute of Chartered Accountants of Bangladesh (ICAB) for publishing reports and accounts. This is the seventh time in a row that the bank has won this award. ICAB hands out awards to honour banks, insurance houses, nongovernmental organisations
German trade show set for a big start
The second biennial German trade show will begin in Dhaka on October 27 to showcase products of both the countries, organisers said at a press conference yesterday. The three-day fair at the city’s Bangabandhu International Conference Centre will showcase products at 100 German and Bangladeshi stalls
IDCOL to finance five bio-electricity plants
The Infrastructure Development Company Ltd (IDCOL) is going to finance five bio-electricity plants around the country in a bid to promote renewable energy and reduce eco hazards. The non-bank financial institution on Monday signed a financing agreement with Seed Bangla Foundation (SBF) for setting up such five plants in five poultry farms