Some 3,630 garments (RMG) factories have now been digitally mapped. Under the project Mapped in Bangladesh (MiB), 3,630 export-oriented ready-made garments and their compiled data has been made available on the website of the project. Funded by the Laudes Foundation and the Kingdom of the Netherlands, and
Business
Peninsula hotel’s earnings double
Earnings of Peninsula Chittagong, a posh hotel in the port city that is listed on the bourses, more than doubled in the October-December quarter of the current financial year of 2021-22. Its earnings per share rose 120 per cent year-on-year to Tk 0.33 during the period, according to data posted on the website of the ... Read more
Boca Do Lobo launched in Bangladesh
Luxurious furniture and home décor retail Penthouse Livings has officially launched Boca Do Lobo of Portugal in Bangladesh on 11th February 2022. Boca do Lobo is a brand known for using ancient fine craftsmanship techniques to create unexpected pieces of contemporary design. Each piece carries the imprint of
Nihad Kabir joins BUILD as chairperson
Former Metropolitan Chamber of Commerce and Industry president Nihad Kabir has become chairperson of the trustee board of Business Initiative Leading Development (BUILD) for the 2022-23 term, said a press release. She is a senior advocate of the Supreme Court of Bangladesh and a partner of law firm Syed Ishtiaq Ahmad and Associates. Nihad is also ... Read more
Nagad offers instant cashback on tuition fees of selective educational institutions
Mobile Financial Service ‘Nagad’ has come up with a cashback offer to reduce hassles to pay students tuition fees at their respective institutions. From now on, students who pay fees at school, college, and university’s will receive 5 percent instant cashback or up to BDT 50 per month. The campaign started on 1 February 2022 ... Read more
Dhaka Regency to celebrate Valentine’s Day
This Valentine’s Day, Dhaka Regency Hotel and Resort offers city’s most happening event for those who wants to surprise their loved ones with a selection of exceptional dining experiences especially made for the occasion on the Skyline, said a press release. For lovebirds who want to celebrate romance in the great outdoors, the
eCourier, Aramex join hands to launch cross-border delivery
eCourier Ltd, a subsidiary of Dotlines Group, and Aramex Dhaka Ltd, the local entity of the multinational logistics, courier and package delivery company, have entered into a commercial agreement to utilise their combined strengths to unlock Bangladesh’s international delivery potential. Mahbubul Anam, managing director of Expo Group, a joint venture partner of
GPH Ispat’s profit surge
Listed steel maker GPH Ispat’s profit soared in the first half of the current financial year. The company logged Tk 94.93 crore in profits, posting a 36 per cent rise from Tk 69.64 crore recorded during the same period a year ago. Its earnings per share was Tk 2.17 during the July to December period, ... Read more
Renata profit rises 14pc
Renata logged 14 per cent higher profits year-on-year in the first six months of the current financial year of 2021-22 in spite of a rise in the price of raw material. The profits came to reach Tk 274 crore while turnover rose 6.12 per cent to Tk 1,542 crore in the July-December period, according to ... Read more
Apex sees higher profits despite lower sales
Profits of Apex Footwear rose in the first half of the current financial year (FY) compared to the same period in FY 2020-21 despite a drop in net sales. The shoemaker logged sales of about Tk 566 crore in the July-December period of FY 2021-22, down 13 per cent year-on-year from Tk 652 crore
Shwapno opens 202nd branch at Dhanmondi
The grocery chain shop, Shwapno, has opened its 202nd branch at Bay Park Heights, beside Sheikh Jamal Cricket Academy, at Dhanmondi 8 of Dhaka city. The new outlet was inaugurated on Friday morning in the presence of Pradip Kar Chowdhury, executive director, finance and planning ofACI Limited, and
Daraz is set to herald in a new era of e-commerce
Even before the COVID-19 pandemic, e-commerce was already witnessing significant growth – with the sector expanding at a steady pace of 4.5 per cent globally. This was driven mainly by factors like increased digitisation, improvements in technology and infrastructure, and consumers expecting more convenience and
Walton set to enter North America; first shipment in mid-2022
Walton Hi-Tech Industries Ltd, a giant in the local consumer electronics sector, is all set to enter the North American market through a shipment of home appliances sometime in the middle of 2022. The company signed a partnership agreement with Danby Appliances, a compact appliance brand in North America, in order to expand the market ... Read more
Bangladesh primed for $8b monthly RMG export
Garment manufacturers are confident about supplying garment products worth $8 billion a month to international buyers after Bangladesh consolidated its place in the global supply chain by remaining open for businesses even during the peak of the coronavirus pandemic. The government’s bold move contrasts to many garment-producing countries that kept
Brac Bank gets BB’s top SME stimulus disbursement recognition
Bangladesh Bank (BB) has recognised Brac Bank for its role in the implementation of the first phase of a Covid-19 stimulus package for cottage, micro, small and medium enterprises in financial year 2020-21. The government declared a Tk 20,000 crore stimulus package to help the enterprises recover from the pandemic’s fallouts. Brac Bank fulfilled an incremental ... Read more
HSBC completes first insurance backed receivables finance transaction
The Hongkong and Shanghai Banking Corporation (HSBC) in Bangladesh has recently completed the country’s first insurance backed receivables finance transaction for MBM Garments. This proposition has been rolled out in line with HSBC’s own receivables finance model and within local regulation, wherein the customer gets early payment against
Bangladesh’s bicycle exports to EU countries are on the rise amid the epidemic
Manufacturers seek cash incentive for market diversification The country’s bicycle manufacturers see additional export prospects in European countries amid the coronavirus outbreak as a rising number people on the market have started using bicycles as an alternative to public transport to maintain social distancing. Exporters said that although the country’s exports had been dismal on ... Read more
Fresh makes The Economic Times Best Brands 2021 list
Leading Indian daily The Economic Times has recognised Fresh from Meghna Group of Industries as the best brand, said a press release. Fresh was recognised with the award in an online event titled ‘The Economic Times Best Brands 2021- Bangladesh Edition’ held on September
Walton starts exporting microwave ovens to Europe
The Bangladeshi electronics company Walton has started microwave oven export to Romania and Hungary. Tahmina Afrose Tanna, director of Walton Hi-Tech Industries Limited, officially inaugurated the microwave oven exports through cutting a giant cake at Walton’s corporate office in Dhaka on Monday. Two renowned electronics and home appliance marketing
StanChart brings “Smartcard” onto the market to facilitate digital payments
Standard Chartered Bangladesh recently introduced a new credit card that offers discounts on the purchase of digital products and services, such as accounting solutions for Netflix users or concluding grocery transactions through Foodpanda. With the changed spending habits due to Covid-19, StanChart