With an increased number of orders from international buyers, Bangladesh is graduating from basic garment production to high-end products. The manufacturers are taking orders from the renowned fashion brands worldwide, industry insiders said. There are signs of the local garment makers gradually shifting to high-end products, because
Business
Tea export falls due to growing demand in home market
DHAKA,: Growing demand in home market forced tea-export to fall in recent days. Last year, country fetched Taka 18 crore exporting only 0.91 million kgs of tea. This was revealed at the 43rd parliamentary standing committee meeting on public institutions held at the Jatiya Sangsad Bhaban with committee chairman ABM Golam Mostafa in the
Money getting costlier
Funds have become costlier as banks have hiked their lending rates overnight in the wake of a significant rise in deposit rates and the central bank’s lifting of the lending rate cap on some sectors. Businessmen said a sudden hike in lending rates will have a negative impact on their businesses. They said an increase ... Read more
Capital: most banks have enough
Most of the forty-seven commercial and specialised banks have dodged various risks to successfully maintain their capital adequacy. However, according to Bangladesh Bank (BB) information, five banks — two private commercial banks and three specialised banks — failed to meet the capital
Hamid Fabrics to go public
Ready Made Garments Hamid Fabrics to go public Hamid Fabrics Ltd, a concern of Mahin Group, plans to go public to raise a fund of Tk 150 crore to implement its expansion plan as it is experiencing a surge in demand of its products from buyers’ end. The Narsingdi-based fabrics manufacturing factory will raise the ... Read more
Milk price increases by 15pc in a month
Increased price of powdered milk at import sources and costlier dollar have forced traders to raise the price of milk in the local market, market sources said. They disagreed with commerce minister Faruk Khan who on Thursday said that Japan radiation leakage had made impacts on local market. ‘Powdered milk price increased in the global ... Read more
Germany to set up economic zone in Bangladesh
State secretary of the Federal Foreign Office of Germany Martin Biesel has said that they would set up a German economic zone in Bangladesh. ‘The present scope of investment is very favourable in Bangladesh. As a result of sincere efforts by both the governments, a German economic zone will be established in
First-ever mobile banking launched in country
The first-ever mobile banking service in the country was launched on Thursday as a part of modernising the banking sector. Dutch-Bangla Bank Limited launched the service in collaboration with mobile phone operators Banglalink and CityCell in the capital
Jute bag manufacturers muff huge market
Blame lack of finance, policy & other supports The country’s small and medium manufacturing units of jute goods are muffing a huge demand for jute bags on the global market due to lack of finance and international-standard production efficiency, reluctance of jute mills to sell quality jute fabrics in small lots, and lack of policy-level ... Read more
Bangladesh not on ADB list of Asian leaders
Bangladesh has failed to manage a place on the list of eight Asian countries, which will drive the growth of the continent in the next four decades. India, Indonesia, Japan, Malaysia, China, South Korea, Thailand and Vietnam are projected to account for 95 percent of Asia’s growth between 2010 and 2050, said Asian Development Bank ... Read more
DSE turnover hits two-month high
Turnover on the Dhaka Stock Exchange hit a two-month high yesterday as high investor participation pulled trade volume up. Daily turnover on the prime bourse stood at Tk 1,524.38 crore, up Tk 181.30 crore from the previous day. Soaring investor participation fuelled trade volume and as a result, turnover rose, said a
New chamber for women launched
A new trade body, Dhaka Women Chamber of Commerce and Industry (DWCCI), appeared on the scene yesterday to help women entrepreneurs explore business potential. This is the third trade body raised particularly for women. There are two more chambers: Bangladesh Women Chamber of Commerce and Industry and Chittagong
Investors’ anger deepens as stocks fall further
The long-brewing anger of the retail investors intensified further on Thursday as the Dhaka stocks plunged for the third day at a stretch, with all the government measures failing to stabilise the capital market, operators said. The general index of Dhaka Stock Exchange slid 217.54 points, or 3.61 per cent, to 5,800.93
SEC orders no expansion of brokerage business
The Securities and Exchange Commission has suspended all kind of activities of expanding business including opening new branches by brokerage houses until further order. The stock market regulatory body issued an order in this connection on Tuesday, an official of a brokerage house said on Thursday
Pharma expo eyes more foreign buyers
Asian fair ends tomorrow A three-day Asian pharmaceuticals exposition began yesterday, opening scope for local firms to adopt the latest technologies to make quality drugs and showcase their products to foreign buyers. “It is an opportunity for the local companies to know about the latest technologies. The fair has also given us a chance to ... Read more
Biman to get two aircraft soon
Two more new aircraft will be added to the national flag carrier Biman Bangladesh fleet in the second half of the year to carry passengers, said Civil Aviation and Tourism Minister GM Quader yesterday. Quader also said the government has a plan to purchase a total of 10 new passenger carrying aircraft within 2019 to ... Read more
Samsung launches ultra-slim notebook, targets Apple
South Korea’s Samsung Electronics Co Ltd launched an ultra-slim notebook on Thursday, seeking to bolster its presence in the high-end mobile computer segment dominated by Apple Inc. Samsung, emerging as one of the strongest rivals to challenge Apple in the booming smartphone and tablet computer market, is eyeing the notebook market, in which Apple is ... Read more
Prof Yunus tells stories of his boyhood travel
Two Books Launched Prof Yunus tells stories of his boyhood travel Some 56 years ago, Nobel laureate Prof Muhammad Yunus had been nominated for attending World Scouts Jamboree when he was a student of class X at Chittagong Collegiate School. When asked why he wanted to join the jamboree, 15-year-old Yunus told the chief national ... Read more
Panic pulls down stocks
The benchmark general index of Dhaka Stock Exchange fell for two days in a row as investors went into sell-offs, fearing another losing spell ahead. The DSE general index (DGEN) lost 154 points, or 2.5 percent, to close at 6,018 points on the day. The DSE general index lost 370 points in two days’ trading ... Read more
EBL unveils savings account for students
Eastern Bank Ltd (EBL) yesterday launched a savings account for students to rope in the young population under banking umbrella, helping them understand benefits of savings. Ali Reza Iftekhar, managing director of EBL, unveiled the new product of the bank at Rajuk Uttara Model College, said the private commercial bank in a