Business

Alpha Arzu The country’s largest software and information technology exhibition of the year, BASIS SoftExpo 2009, concludes today, with a target to increase the income from IT-enabled services to $150 million from the present $7 million by 2011, software and information service leaders said. Bangladesh Association of Software and Information Services coordinator of events Nurul ... Read more

Sliding pound, additional NTBs blamed Sohel Parvez Fresh vegetables exports dipped 25 percent in the July-November period of the current fiscal year against the same period last fiscal, thanks to a sliding pound sterling and additional non-tariff barriers (NTBs) imposed on some items to enter one of the key markets — United Kingdom. “We are ... Read more

Kazi Azizul Islam Bangladesh is becoming the ‘Trousers Island’, if not the Treasure Island, for global apparel importers as local manufacturers are sourcing jeans and other cotton trousers at the cheapest prices and maintaining admirable quality, industry people said. The industry’s strength has weighed up with Bangladeshi exporters occupying the number-one position in the US ... Read more

NATION BUSINESS REPORT ‘The positive side is that the government has started with a lower inflation rate in the domestic front and downward trend in international oil and commodity prices. ‘The government should utilise this advantage in a prudent manner,’ said the International Chamber of Commerce-Bangladesh (ICCB) in an editorial of its quarterly news bulletin ... Read more

Sajjadur Rahman Bicycle exports have marked a sharp drop in recent months due to the ongoing global financial meltdown that rocked the developed countries since mid-last year, said government data and industry people. Western countries, especially the European Union, are

Staff Correspondent Dhaka stocks witnessed a downtrend last week for the straight third week amid volatile trading with the investors’ participation shrinking, market operators said. The general index of Dhaka Stock Exchange lost 24.52 points, or 0.91 per cent, in the week to close at 2,671.06 on Thursday, while its blue chips index, DSE20, shed ... Read more

The government has vested the responsibility of a research work on basic commodity market upon the Bangladesh Foreign Trade Institute to prepare an effective market intervention guideline. Commerce Minister Faruk Khan made this announcement at a press briefing at the institute in Dhaka yesterday. “It’s an additional responsibility for the BFTI to make research on ... Read more

NATION BUSINESS REPORT South Korea has expanded its zero-tariff facility for Bangladeshi products from this year. Under the scheme, 34 additional Bangladeshi items including RMG, ceramic tableware and jute carpet will receive duty-free access to Korean market. South Korea has already provided duty-free treatment for many items from LDCs. However, their duty-free programme did not ... Read more

Staff Correspondent The Real Estate and Housing Association of Bangladesh is going to organise a three-day housing fair in the port city of Chittagong starting from January 29 with a heightened expectation of a brisk business. The announcement came at a news conference held by the real estate and housing association at the National Press ... Read more

NATION BUSINESS REPORT Grameenphone Ltd is the 1st operator in Bangladesh to launch GSM roaming with AeroMobile. AeroMobile AS provides roaming facility onboard aircrafts, providing global coverage. It is a safe, cost effective solution allowing passengers to use their mobile phones and PDA’s whilst in flight. From now on, Grameenphone subscribers with international roaming facility ... Read more

Finds current account balance, customs revenue poor Asif Showkat A finance ministry technical committee dealing with the shocks from the global economic meltdown in its second meeting on Thursday expressed satisfaction with the country’s economic indicators except the current account balance and customs revenue. The technical committee of the coordination council on monetary and exchange ... Read more

Sohel Parvez Singapore Airlines (SIA) has cut two of its flights from Dhaka as it is receiving less than expected passengers due to the global economic downturn that forced the leading carrier to suspend more than 200 flights worldwide. The carrier said it would operate five weekly flights from Dhaka from February 16, instead of ... Read more

EXPANDING MANPOWER EXPORT Bangladesh missions need more resources, training: experts Raheed Ejaz The government needs to enhance the capacity of the labour wings abroad by taking steps including allotting more resources and holding proper training for the officials there for boosting manpower export. Officials, recruiting agents and experts also feel that the government should take ... Read more

Bangladesh Single Country Trade Fair in Sharjah, United Arab Emirates (UAE) has opened ample of business opportunities for Bangladeshi products and services, says a press release. The 3-day fair was held on 8-10 January at Rolla, Sharjah of the Emirates, which was sponsored by Pubali Bank Limited. The exhibition was attended a total of 20 ... Read more

Sajjadur Rahman Despite the central bank’s mandatory order, five foreign commercial banks, including the banking giant Hong Kong and Shanghai Banking Corporation (HSBC), have failed to disburse a single penny as farm credit in the first half of the current fiscal year. “The banks providing no farm credit have already been served warning letters by ... Read more

Sohel Parvez Local shipyards still receive enquiries from foreign buyers about building small vessels despite a downturn in the global shipbuilding industry amid an economic recession and uncertain demand outlook

Bdnews24.com . Dhaka The industries minister, Dilip Barua, on Wednesday said current interest rates were hindering industrial development in Bangladesh. ‘It’s hard to make profit at the current 14-15 per cent bank interest against industrial credit,’ Dilip told a delegation of the International Business Forum of Bangladesh at his ministry on Wednesday. Sympathising with businesses ... Read more

AFP, Kuala Lumpur Malaysia is preparing a second economic stimulus package to fend off the threat of recession and is considering freezing the recruitment of foreign workers, reports said yesterday. The stimulus package, which comes after a 2.0-billion-dollar programme unveiled last November, is focused on helping companies and workers affected by the global slowdown, The ... Read more

Sayeda Akter Units of Bangladesh Parjatan Corporation, which were leased out to private operators for better management and efficiency, continue to incur losses. Several units are yet to pay back long-due lease money to the troubled state-owned tourism agency in line with the

Kazi Azizul Islam The bakers and restaurant owners continue to charge high prices for their products, which are made using flour and oil, despite the price of the two major essentials declined drastically in the past several months. The price of the food items at bakery shops and restaurants in the capital city was found ... Read more