A new Bangladeshi private airline naming ‘Air Astra’, is set to start its operation from January next year. Besides, Biman Bangladesh Airlines – the national flag carrier, two other private airlines namely US-Bangla and Novoair are currently operating flights. Air Astra will be the third private airline in Bangladesh. “We are hoping to launch flight ... Read more
Business
Horlicks raises awareness on breastfeeding
Horlicks Mother’s Plus completed its month-long campaign by raising awareness among mass people on the importance of breastfeeding and the benefits of better nutrition for lactating mothers. This year, World Breastfeeding Week 2021 theme is: Protect Breastfeeding: A Shared Responsibility. In line with the theme, Horlicks Mother’s Plus
Brac, Dettol team up to provide hygiene services to vulnerable pregnant women
Brac and Dettol have recently signed a memorandum of understanding (MoU) to provide hygiene services to vulnerable pregnant women in Bangladesh. Under this collaboration, Brac and Dettol will raise hygiene awareness among underprivileged expecting mothers living in remote areas in the country and
Mediacom signs deal with Banglalink’s video streaming app Toffee
Mediacom Limited has signed a contract with mobile operator Banglalink’s video streaming app Toffee. Erik Aas, chief executive officer of Banglalink, and Anjan Chowdhury, managing director of Mediacom Limited, signed the agreement on behalf of their respective organisations recently. Under the deal, Mediacom will provide content
Nagad Ltd barred from opening trust-cum settlement account without approval
The Bangladesh Bank has asked banks not to open any trust-cum settlement account (TCSAs) under the name of Nagad Ltd. The central bank issued a letter to banks on September 2 asking them not to open such accounts in the name of Nagad Ltd without its prior approval and the Bangladesh Post Office (BPO). Nagad ... Read more
SME Foundation to lend 30% of Tk 200cr incentive package to women
The SME Foundation is aiming to lend more than 30% of the Tk200 crore incentive package allocated for small and medium enterprises (SMEs) to women entrepreneurs. They also plan to start the distribution of the loans from the third week of September, Dr Md Mafizur Rahman, managing director of SME Foundation, announced at
Padma now seeks saviours abroad
Padma Bank has started looking for potential foreign investors, in keeping with its earlier wish to merge with a state lender to prevent its financial health from deteriorating further. As a part of the move, the lender signed a memorandum of understanding with California-based investment bank DelMorgan & Co on September 2, according
Bangladesh finally a member of Brics’ New Dev Bank
Bangladesh has finally become a member of the New Development Bank (NDB), which was launched in 2015 by Brazil, Russia, India, China and South Africa, collectively known as Brics, according to a statement of NDB. The NDB aimed to be an alternative to the US-dominated World Bank and International Monetary Fund. In December 2020, Indian ... Read more
Mitsubishi Motors looks to set up plant in Bangladesh
Mitsubishi Motors yesterday signed a memorandum of understanding (MoU) to conduct a feasibility study on establishing a production unit in Bangladesh by 2025 as the Japanese multinational automotive manufacturer looks to expand its footprint in South Asia. This deal, which government officials have dubbed a big step
Banglalink revenue rises in Q2
Banglalink, the third largest mobile operator in Bangladesh, witnessed a 6.9 per cent rise in revenue year-on-year in the second quarter of 2021, driven by an increase in data revenue alongside the number of customers of this segment. In currency, Tk 1,184 crore was generated as revenue which
Daraz launches special campaign to celebrate seventh anniversary
Online marketplace Daraz has launched a special campaign to celebrate its seventh anniversary along with expressing gratitude to its customers and well-wishers. To commemorate this milestone, Daraz Bangladesh, a concern of Alibaba Group, has chalked out elaborate plans, programmes and campaigns, the company
No advance payments in e-commerce: BB
Bangladesh Bank yesterday said e-commerce platforms would not be able to receive payments in advance for any products or services rendered. Some e-shops instruct shoppers to deposit money directly into their respective bank accounts before delivering a product or service, breaching Bangladesh Bank regulations
Brac Bank to raise Tk 600cr thru bonds
Brac Bank has decided to raise Tk 600 crore by issuing a non-convertible bond with a view to providing home loans to the country’s lower and middle income groups. The board of the private lender took this decision at a meeting on August 26, after which it sent the proposal to the Bangladesh Securities and ... Read more
Bata returns to profit
Bata Shoes (Bangladesh), one of the most popular footwear brands in the country, returned to profit after a year riding on higher sales. The company’s declaration of profit comes as good news for the local economy, which is rebounding strongly despite the ongoing coronavirus
Nagad offers up to 30pc bonus in SWAP deals
Bangladesh Post Office mobile financial arm Nagad and re-commerce firm SWAP launched a campaign titled ‘Choice is Yours’ where Nagad users can avail 10 to 30 per cent bonus in any deal. Under the offer in SWAP, ‘Nagad Deal E Beshi Labh’, Nagad users can buy and sell used products like cell phone, laptop, motorbike, ... Read more
FB pays Tk 2.27cr in VAT for July in Bangladesh
Facebook filed value-added tax worth Tk 2.27 crore against its business in the month of July in Bangladesh on Tuesday. For July, Facebook Ireland Limited paid Tk 2,64,91,643, Facebook Payments International Limited Tk 16,785 and Facebook Technologies Ireland Limited paid Tk 2,294 in VAT. Earlier in June, Facebook was the first non-resident organisation to file VAT returns
Deposit interest shouldn’t go below inflation rate: Bangladesh Bank
Bangladesh Bank (BB) yesterday asked banks not to set interest rates on fixed term deposits below the inflation rate as it yields negative returns for savers. The central bank issued a circular in this regard addressing the managing directors and chief executive officers of all banks. Addressing the decreasing interest rates in
Brac Bank named for UN fund
Brac Bank has been named as one of the 10 recipients of a Women Enterprise Recovery Fund in the Asia-Pacific region recently. The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the United Nations Capital Development Fund (UNCDF) with partners
Number of internet connections soars by 1.75cr in FY21
Bandwidth consumption doubles to 2,409.08Gbps The number of broadband and mobile phone-based internet connections in the past fiscal year of 2020-2021 increased by 1.75 crore, more than twice the increase seen in the previous fiscal year, amid people’s growing dependence on online services after the Covid outbreak. According to Bangladesh Telecommunication Regulatory Commission
E-commerce cos to get payment after delivery of goods: ministry
The government on Thursday announced that e-commerce companies would get their payments after delivery of goods ordered by buyers. The commerce ministry officials made the announcement following a meeting with leaders of the E-Commerce Association of Bangladesh and Bangladesh Bank officials held