Business

BSS, Dhaka Expecting high returns from the biggest-ever allocation for agriculture sector, Agriculture Minister Begum Matia Chowdhury today brushed aside the notion of providing Taka 2,700 crore fresh subsidy to fertilizer a problem for the new government. “The government has the ability to afford the money required to give the subsidy on fertilizer. If we ... Read more

Sarwar A Chowdhury An export-oriented Dutch-Bangla joint venture company started its journey last month. The company, Wellpac Polymers Limited, has already made its first shipment of plastic bags to the Netherlands entering the billion-dollar international plastic bag market. “Initially our target is exporting 3,000 tonnes of plastic bag, especially shopping and garbage bags, a year ... Read more

A group of seven core development partners along with ICDDR,B officials participated in a signing ceremony documenting their continued partnership, at ICDDR,B’s Mohakhali campus recently. The Core Donors’ Group (CDG) was established in 2007 to coordinate donor funding to ICDDR,B in consistence with the Paris Declaration on Aid Effectiveness. The CDG members providing unrestricted support ... Read more

NATION BUSINESS REPORT A trade fair titled ‘Bangladesh Single Country Trade Fair’ has recently been held at Sharjah, UAE which was participated by local companies of Bangladesh. Different banks, financial organizations and companies participated in the fair. Pubali Bank Limited also took part in the fair to expand and promote foreign remittance from the UAE ... Read more

Sajjadur Rahman Bangladesh Bank (BB) mulls fixing a farm credit target to boost agriculture production, officials said. “BB is considering a target for private local and foreign commercial banks, as those are reluctant to give farm loans,” a senior central bank official told The Daily Star yesterday. In fiscal year 2007-08, 30 private commercial banks ... Read more

Fears BIDS study on direct cash subsidy for diesel Star Business Report The direct cash subsidy programme for diesel in the last Boro season suffered various setbacks with around Tk 50 crore feared to have gone to ineligible farmers due to irregularities in the listing and disbursement process, a study said yesterday. The money that ... Read more

15,000 SROs, many rules, regulations plague business climate Khawaza Main Uddin Bangladesh’s business environment is plagued by serious regulatory uncertainty and non-compliance with rules and regulations despite having 15,000 statutory regulatory orders issued in various times, believe experts on trade and investment. Because, they say, new rules and regulations are often introduced without necessary consultation ... Read more

Staff Correspondent The Chittagong MA Aziz Stadium wore a festive look on Friday afternoon, as more than 20 thousand garment workers thronged there with colourful dresses to attend the first-ever Workers’ Fair. Chittagong city mayor ABM Mohiuddin Chowdhury inaugurated the fair organised by the Bangladesh Garment Manufacturers and Exporters’ Association to give some recreation for ... Read more

NATION BUSINESS REPORT A new project aiming to help six million farmers in four South Asian countries, including Bangladesh, has been taken up to boost crop yields and their income over a period of 10 years, said the International Rice Research Institute (IRRI). To be led by the Manila-based IRRI, a good number of international ... Read more

NATION BUSINESS REPORT Bangladeshi Company M/s. Chittaong Waste Treatment Plants limited is going to established Central Effluent Treatment Plant (CETP) in Chittagong Export Processing Zone. This 100% local owned company will invest US$ 6.01 million aims to treat everyday 15 thousand cubic meters liquid effluent of the zone. They will establish Central Effluent Treatment Plant ... Read more

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