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
Business
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
Rise in sea level may reduce 24pc cropland by 2045
A report of fisheries ministry and WB finds Bangladesh’s agriculture sector is under threat from climate change, as the sea level rise may reduce availability of cropland by 24 percent in coastal divisions across growing seasons by 2045, a new report said yesterday. “With two-thirds of the country at an elevation of less than 5 ... Read more
ADB maintains robust growth outlook for Bangladesh
Cuts forecasts for India, China Bangladesh is expected to grow robustly in 2019 and 2020 riding on domestic consumption and strong remittance earnings, said the Asian Development Bank yesterday as it kept the growth outlook for the country unchanged. In a supplement to its Asian Development Outlook 2019 Update, the Manila-based lender, however, trimmed its ... Read more
Faster project implementation boosts access to finance: experts
Faster implementation of projects is a key to achieving the Sustainable Development Goals (SDGs), Asian Development Bank Country Director Manmohan Parkash said yesterday. “If we want higher achievements, we need higher capacity.” Financing will be simplified and access to finance will be enhanced if projects are
BTCL offers unlimited landline calls for Tk 150
Landline provider Bangladesh Telecommunications Company Limited (BTCL) has offered unlimited calls within its network for only Tk 150 per month as the struggling state-run company fights for a turnaround. BTCL has also removed the monthly fee, said a statement yesterday. The monthly fee for connections in the Dhaka, Chattogram and Khulna metropolitan city
Samsung offers new SpaceMax refrigerators
Samsung at a Dhaka hotel yesterday launched SpaceMax, a side-by-side refrigerator brand available in two and three-door options. Its new technology provides more room for food storage and consumes less electricity, the consumer electronics company said in a statement yesterday. The series features an all-around cooling system that blows cold air through multiple
Khirshapat mango gets GI recognition
The Khirshapat of Chapainawabganj, one of the most popular varieties of Mango which is popularly known as Himsagar, has got Geographical Indication (GI). Industries Minister Nurul Majid Mahmud Humayun formally handed over the certificate to Modon Gopal Saha, director of Horticulture Research Center (HRC), at a programme at
BTRC to monitor mobile internet speed in rural areas
The telecom regulator is set to start a field-level monitoring drive Saturday in three districts to gauge the quality of data service following complaints from customers. The drive will eventually cover 45 upazilas in 15 districts. Other than checking the internet speed with equipment, the team from Bangladesh
BTRC moves to lower mobile phone call tariff
The Bangladesh Telecommunication Regulatory Commission has initiated a move to study the inter-operator charges of the voice call tariff in a bid to lower the call rate at the user level, said officials. BTRC officials said the commission has called a meeting with the chief executive officers of the mobile phone companies on Thursday to ... Read more
HSBC launches 6th export excellence awards
The Hongkong and Shanghai Banking Corporation in Bangladesh has launched the 6th instalment of HSBC Export Excellence Awards. The programme recognises and honours exporters from Bangladesh for their contribution to the sustainable growth of Bangladesh through export. Exporters will be able to nominate themselves as the Exporter of the Year in four categories— readymade
MoneyGram stands by educational campaign
MoneyGram, a global money transfer company, yesterday donated $53,600 (around Tk 41.73 lakh) to UCEP Bangladesh to improve teaching and learning environment at 25 schools run by the non-profit organisation. The collaboration with the MoneyGram Foundation will help 18,000 poor students learn mathematics and science using modern technology and gather
Three-day smartphone, tab expo begins Aug 13
The three-day Robi Smartphone and Tab Expo will begin at the Bangabandhu International Conference Centre in the capital on Thursday. Mobile operator Robi is organising the event with the aim of speeding up the digitalization in the country and to make mobile users familiar with the local and international technologies. State minister for ICT Zunaid ... Read more