Retail chain Shwapno started its export journey by sending it first consignment to Hong Kong on March 31. The first consignment consisted of pointed gourds, lady fingers, green mangoes, potatoes, bitter gourd and 26 other items of vegetables and fruits, a pressrelease said. The second consignment of the Bangladeshi retail
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Bangladesh 7th highest remittance recipient: World Bank
Bangladesh has retained its position as the recipient of the seventh highest amount of money transferred by migrant workers among 10 top recipient nations in 2021. This year, however, the country may continue to experience a meagre growth in remittance inflow of only 2 per cent this
TallyKhata selected for Visa Accelerator Programme
Digital payment service provider Visa has selected digital payments start-up TallyKhata from Bangladesh for the 2022 cohort of its Visa Accelerator Programme in the Asia Pacific. Joining a select group of five elite startups from across the region, TallyKhata is a leading digital payments platform with wallet and credit capabilities for small and
Bangladesh Bank dismisses news of scrapping Tk 1,000 red-coloured notes as rumour
The central bank has brushed aside as simply a rumour the news that the Tk 1,000 red-coloured bank notes will be scrapped. The news to withdraw the red-coloured banknotes of Tk 1,000 denomination by the regulator that spread on social media is fake, the banking regulator made the
Shwapno clocks record sales growth
Shwapno, the largest retail chain in Bangladesh, posted the biggest growth in turnover in the last financial year, driven by higher sales through its e-commerce platform and teleservice amid the coronavirus pandemic. Turnover rose 18.7 per cent year-on-year to Tk 1,375 crore in the last financial year that ended in June. It was Tk 1,156 ... Read more
BRAC Bank introduces real-time cash deposit machine
Brac Bank has launched 39 real-time cash deposit machines (RCDMs) in Dhaka, Gazipur, Chattogram, Sylhet, Rajshahi, Khulna, Rangpur, Bogura, Jashore and Pabna in the first phase. The machine allows customers to deposit cash any time and any day of a week to their Brac Bank accounts and pay credit card bills within minutes, a press
Single-month RMG exports to US top $1b
Bangladesh’s single-month apparel export earnings from the United States topped the $1-billion mark for the first time in March as both export orders and unit prices witnessed a surge in the market. The export earnings almost doubled in March from the US compared with that of the same month of 2021, according to the US ... Read more
Brac Bank donates 5pc of CSR fund to PM’s trust
Brac Bank has contributed 5 per cent of its total corporate social responsibility (CSR) budget for 2022 to the Prime Minister’s education assistance trust (EAT). The bank handed over a cheque equivalent to Tk 11,517,754 to the PM’s EAT on April 20, 2022, a press release said. “We should thank Bangladesh Bank for
Banks to remain open on April 30
The Bangladesh Bank today asked banks to keep their doors open and run operations on a limited scale on April 30, a public holiday, in order to settle the increased number of financial transactions ahead of Eid-ul-Fitr. In 2022, the number of banking transactions have increased substantially year-on-year, which has also fuelled cash withdrawals and deposits ... Read more
Bata returns to profit in Jan-Mar
Bata Shoe, one of the most popular footwear brands in the country, returned to profits in the first quarter (January-March) of the ongoing calendar year after drowning in losses amid the coronavirus pandemic. The shoemaker’s profits rose to Tk 6.84 crore in the January-March period of 2022 while it was at a loss of Tk 4.90 ... Read more
Robi’s profit buoyed by lower income tax
Robi Axiata, the country’s second largest mobile network provider in terms of subscribers, said its net profit grew 16 per cent year-on-year to Tk 39.8 crore in the first quarter (January-March) of the current financial year as it had to pay less income tax. However, increased cost of sales caused Robi’s operating profit to fall by ... Read more
Local manufacturers can produce bikes up to 500cc
The government has granted permission to manufacturers to produce bikes up to 500cc engine capacity, a move that is expected to give a huge boost to the motorcycle industry in Bangladesh and provide the scope to bike lovers to ride higher engine two-wheelers. The development comes as demand for motorcycles with a higher engine capacity is
Walton records drop in profits
Profits of Walton fell in the January-March period of 2022 due to a hike in global raw material prices and higher shipping charges. The company’s earnings per share (EPS) dropped to Tk 12.34 in the third quarter of 2021-22 while it was Tk 12.92 in the same period of
No bar to launch eSIM now
The bar on launching eSIM services has been finally removed as the National Board of Revenue (NBR) has set the tax regime for the sale of eSIM by operators. According to an NBR letter to the telecom regulator and operators on April 21, Tk 200 has to be paid as VAT for each eSIM, similar ... Read more
Digital payments can boost Bangladesh’s annual GDP by Taka 50,058 crores : Study
By Business Desk : dhakamirror.com Digital payments can raise annual gross domestic product (GDP) of Bangladesh by 1.7 percent, an addition of $6.2 billion (Taka 50,058 crores) annually to the economy. The research was carried out by the United Nations-based Better Than Cash Alliance and its member, Bangladesh’s flagship program
War offers more Canadian work for local freelancers
Says an expert Opportunities for Bangladeshi freelancers have widened in the Canadian outsourcing market since the start of the Russia-Ukraine war, according to a joint working group on strengthening commercial relations. Most Canadian companies used to hire freelancers from India, Russia and Ukraine, said Nuzhat Tam Zaman, co-chair of the Canada-Bangladesh Joint Working Group, a public-private platform
Al-Arafah, Mastercard bring contactless cards
Al-Arafah Islami Bank, in collaboration with Mastercard, yesterday launched the first contactless Islami debit and prepaid cards in Bangladesh. The move came after Bangladesh Bank last month gave the green light to roll out contactless debit and prepaid cards with a view to pushing
Incepta launches ‘Linatab E’ for diabetic patients
Incepta Pharmaceuticals has launched a new medicine under the brand name of “Linatab E” that combines Linagliptin and Empagliflozin, the two most remarkable and safe therapeutic classes of modern times for controlling diabetes. National Professor AK Azad Khan unveiled the medicine at the Bangladesh Institute of
Population, housing census from Jun 15
The Bangladesh Bureau of Statistics (BBS) will start conducting the population and housing census from June 15. The sixth survey of the BBS will be weeklong and it will conducted in digital format. Around 3.7 lakh numerators will collect the data countrywide by using 3.95 lakh tablet computers. The authorities will collect data through Computer ... Read more
Walton logs record Tk 127cr sales in March
Walton Hi-Tech Industries recently announced selling about Tk 127 crore worth electrical appliances of its Walton, Marcel and Safe brands in March, which the company said was its highest ever for a single month. Walton earlier registered a 52 per cent sales growth in electrical appliances including elevators, fans, LED lights, switches and sockets in fiscal ... Read more