Business

Share trading suspended The Dhaka Stock Exchange on Sunday kept trading of the shares of S Alam Cold Rolled Steels halted as the bourse’s management initiated an enquiry after media reported that the company had acquired majority stakes of Oman Bangladesh Leasing and Finance Ltd, a non-banking financial institution. ‘Trading of the shares of the ... Read more

Six mobile phone operators added only 0.47 million customers to their networks in February, taking the number to 45.21 million. No customers were added to the network of Grameenphone, the largest mobile operator. In February, GP’s customer base remained unchanged at 20.94 million, the same as in January 2009, according to Bangladesh Telecommunication Regulatory Commission ... Read more

The Public Undertakings Committee yesterday emphasised implementing the development projects required for turning Chittagong Port into a centre of regional transport in future. Members of the parliamentary body that reviews accounts and reports of public institutions was exchanging views with the officials of Chittagong Port Authority (CPA) and Chittagong Customs during a meeting in the ... Read more

The sale of the mobile phone’s SIMs has slowed down remarkably as the major operators withdrew the subsidy on the SIM tax considerably. Leading operators Grameen Phone and Banglalink, enjoying more than 50 per cent share of the country’s cellular phone market together, have already withdrawn major portion of the subsidy on the SIM tax ... Read more

Sajjadur Rahman A hike in scrap metal prices in local markets has pushed the prices of mild steel (MS) rod by 20 percent in a span of two months. The price of 40-grade MS rod is now selling at Tk 47,000-49,000 a tonne against Tk 37,000-38,000 two months ago, while the 60-grade category has soared ... Read more

Sohel Parvez Paragon Agro, a concern of Paragon Group, plans to cultivate organic tea, aiming to exploit the growing consumer demand for the product in domestic and global markets. “Everybody demands organic food. That is why we are preparing to organically grow tea. We are now readying our garden to accomplish the mission,” said Moshiur ... Read more

British Airways set to exit from Bangladesh Sohel Parvez British Airways (BA) is set to bring down the curtain on Bangladesh next week, ending an era of direct Dhaka-London flights. Travellers are expected to pass more hours on their ways to Europe and North and South Americas. The airline will say goodbye to Dhaka by ... Read more

Shakhawat Hossain The state-owned rubber producer has sought approval from the higher authorities to export its products in a move that has been hailed by private sector as well because it will open a new chapter to the local rubber growers. ‘We have sought permission from the forest ministry to export rubber,’ said Bangladesh Forest ... Read more

AP, Mumbai, India Tata Motors said it will launch its ultra-cheap Nano car in Mumbai on Monday – a vehicle meant to herald a revolution by making it possible for the world’s poor to purchase their first car. But few predict the snub-nosed Nano will be able to turn around the company, which has been ... Read more

Staff Correspondent An obvious trauma gripped the businesses at Basundhara City after a devastating fire Friday burnt many shops and offices into ashes inside the country’s biggest and iconic shopping centre. The fire broke out at the top of the

Refayet Ullah Mirdha Bangladesh’s share in the US apparel market is getting larger as cheap clothing (basic garment items) sales in that market are increasing in global recession, market operators said. Recession-hit retailers in the US and Europe are purchasing garments from Bangladesh in enhanced volume as the cost of the item is less here ... Read more

Khawaza Main Uddin The government is yet to begin providing training to garment workers for improving their skill, utilising an endowment fund, four years after it had been pledged to face the challenge of quota-free textile regime. The selection of a firm for imparting training to workers has become entangled in the complexity of a ... Read more

Kazi Azizul Islam One of every seven essential food products, especially which are marketed in packets, has no seal of standardisation on its label, revealed a survey conducted by the Consumer Association of Bangladesh. Such a seal, which is approved by the national standardisation organisation–– Bangladesh Standard and Testing Institute, is mandatory in the label ... Read more

Repo rate down 25 basis points Sajjadur Rahman The central bank yesterday slashed the interest rate it charges on loans to commercial banks by 25 basis points to 8.50 percent to bolster growth and cushion the impact of the global economic turmoil. “The decision to cut the short-term repo rate has been taken to encourage ... Read more

UNB, Dhaka Metropolitan Chamber of Commerce and Industry (MCCI) on Wednesday strongly urged the government to remove the uncertainties on continuation of the tax holiday and widen the list of industries under the scheme in the next budget. The MCCI came up with the plea at a pre-budget meeting with the National Board of Revenue ... Read more

Kazi Azizul Islam With severe load-shedding of electricity continuing in the city and elsewhere, the businesses dealing with power back-up devices see hectic business in the upcoming summer with sales peaking since early March. In last year around 60,000 units of instant power supply or IPS and 15,000 small generators were sold. Industry people expect ... Read more

Sayeda Akter The government plans to renovate Dhaka Sheraton Hotel without delay and appoint an international operator to run the five-star hotel for five years. Also, Sheraton is set to extend its contract with the government for three

Star Business Desk The Dhaka Chamber of Commerce and Industry has demanded that the government come up with a bailout plan for the readymade garment sector. It also sought subsidy on the imports of capital machineries and industrial

Sohel Parvez Supermarket biggies have attempted a massive expansion drive this year to catch up more shoppers who still depend on unorganised wet markets to buy their essentials. The rise in supermarkets, according to analysts, will diversify consumer choices and boost consumer spending needed for economic growth, while the wet markets will also witness an ... Read more

Staff Correspondent The government might provide facility again to legalise the undisclosed money to boost up the industrialisation and employment in the wake of global financial recession, hinted the revenue board chairman on Sunday. ‘We want all kinds of money should come into the formal economy,’ Abdul Mazid, national board of revenue chairman, said at ... Read more