Business

NATION BUSINESS REPORT The Bangladesh Caterers’ Association, UK announced Wednesday that it would set up a chef-training institution in London, with a campus in Dhaka, to fill the shortage of skilled chefs in UK curry industry. Bazlur Rashid, president of the BCA, UK and a director of the British Bangladesh Chamber of Commerce, made the ... Read more

Star Business Repot In a bid to ease pressure on inflation, Bangladesh Bank (BB) yesterday fixed the target of private sector credit growth at 18.5 percent, bringing it down by 6.44 percentage points. The BB took the decision at a time when different countries have taken steps to increase credit flow amid global financial crisis. ... Read more

Staff Correspondent Dhaka stocks finished lower on Wednesday as investors, downcast by the recent dullness at the market, scurried to sell off their holdings, market operators said. The general index of Dhaka Stock Exchange lost 13.62 points, or 0.50 per cent, to close at 2712.66, while its blue chips index, DSE20, shed 4.20 points, or ... Read more

BTMA leaders meet textile minister, ask for supports Kazi Azizul Islam Bangladeshi spinners are suffering discouraging difficulties with their product stocks mounting as local apparel exporters are going fast for cheaper yarns of India, where a much-devalued currency favours the Indian exporters, said the Bangladesh Textile Mills’ Association. Meeting the textile minister, Abdul Latif Siddiqui, ... Read more

Star Business Report The country’s six mobile phone operators added 10.27 million customers in 2008, posting a 30 percent growth compared to a 62 percent growth recorded in 2007. The operators blamed the subscriber downfall on economic slowdown and increased connection fees. Bangladesh’s total mobile subscribers reached 44.64 million by the end of December 2008, ... Read more

Staff Correspondent Dhaka stocks closed mixed on Tuesday with the market remaining in seesaw movements. The general index at the Dhaka Stock Exchange gained 9.74 points, or 0.36 per cent, to close at 2726.27, while its blue chips index, DSE20, lost 13.05 points, or 0.58 per cent, to finish at 2222.61. Starting with an upbeat ... Read more

Star Business Report Despite high expectations over essentials’ price-drop after power handover to the new government, market responses remain lukewarm. The prices of some basic commodities like rice and edible oil fell in the local market recently. The onset of this year’s Aman harvest and the fall in the price of soybean oil on the ... Read more

Staff Correspondent Dhaka stocks dropped on Monday for the second consecutive day in a volatile trading as investors, downcast by the fresh downtrend in the market, sold off their holdings, market operators said. The general index of Dhaka Stock Exchange lost 10.45 points, or 0.38 per cent, to close at 2716.53, while its blue chips ... Read more

Global financial meltdown Apparel exporters seek cash incentives Staff Correspondent The country’s apparel exporters have voiced concern over the slowdown of export orders on deepening global economic downturn and sought immediate government steps to stave off its adverse impact on the local export-oriented industries. “The government should introduce financial incentives for the export-oriented industries and ... Read more

Kawsar Khan Exports went up by 13.37 percent in November of the current fiscal year bagging $1.3 billion against the same month last year, and diffused the fear of a long-term effect of global recession in export assumed through the negative export growth in October. In October of fiscal 2008-09, the country’s export earnings dipped ... Read more

Staff Correspondent US-based company First Multipurpose Services and Bangladeshi communication agency Mattra, in association with the Export Promotion Bureau, will organise a trade show ‘Made in Bangladesh 2009’ in New York of the USA in October 2-6. ‘The five-day trade fair will be held at the Penn Plaza Pavilion Exhibition Hall of Manhattan,’ announced Hossain ... Read more

Staff Correspondent Dhaka stocks lost steam on Sunday, the first trading day of the week, due to a selling pressure from investors, depressed by the last week’s bearish trend, market operators said. The general index of Dhaka Stock Exchange lost 33.69 points, or 1.22 per cent, to close at 2726.98, while its blue chips index, ... Read more

NATION BUSINESS REPORT A leading economist has suggested a price commission be set up involving the ministries of commerce, agriculture and finance to bring down prices of essentials within the reach of common people in a short span of time. Welcoming the government’s decision to cut diesel price at its first cabinet meeting, Chairman of ... Read more

Sayeda Akter The number of foreign tourist arrivals in the country grew significantly in 2008, thanks to a relatively stable political situation, said industry people. According to statistics of civil aviation and tourism ministry, a total of 3.50 lakh foreign tourists visited Bangladesh until October 2008, which was a sharp rise from 2.65 lakh in ... Read more

Asif Showkat The government has taken an initiative to streamline the loss-making state-owned enterprises to reduce the subsidies doled out to them through its fiscal policy, official sources said. ‘The finance ministry will want to reduce subsidy that is given to the loss-making SOEs as the money will be diverted to the country’s productive sectors,’ ... Read more

Staff Correspondent Dhaka stocks dropped last week due to a profit-taking selling pressure from investors after a two-week bull run, market operators said. The daily average turnover at the Dhaka Stock Exchange, however, went up by 6.11 per cent to Tk 407.39 crore from the previous week’s Tk 383.93 crore. The DSE general index lost ... Read more

$10b expected this year Rejaul Karim Byron Remittance inflows set a new record in 2008 crossing an 8 billion-dollar mark, thanks to an increased number of outbound workers. According to Bangladesh Bank (BB) statistics, in the just-concluded calendar year remittance worth $8.22 billion came into the country marking a 25.36 percent growth. In 2007 remittance ... Read more

Looking Back 2008 Capital market walks past volatile days Sarwar A Chowdhury 2008 was a volatile year for Bangladesh’s capital market. Although the first half was fine for investors, the second half turned out to be gloomy, as their dream of a good return was dashed on many occasions by some factors. These factors include ... Read more

NATION BUSINESS REPORT Electro Mart Ltd, a large marketer of electronic household appliances and automobile, is participating in the Dhaka International Trade Fair (DITF) 2009 at the marvelously decorated premier pavillion No.7. This delicate and wonderful premier pavillion is featuring the world famous KONKA Plasma Screen, LCD TV, Color TV, Refrigerator, Freezer, Mobile Phone, DVD ... Read more

Prices of atta (crushed wheat) have fallen substantially in the local market as the international prices have long started to decline. As of yesterday the wholesale prices of wheat imported from Ukraine ranged between Tk 545 and Tk 560 a maund (37.2 kilogram), which is about Tk. 15 per kilogram. The current price of packed ... Read more