No new recruitment till unrest stops: BGMEA
Also directs member factories that have been vandalised to file cases against workers responsible
Over 55% BGMEA member factories closed in four decades
Nearly 4,000 member factories of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have faced closure for various reasons since the country emerged as an apparel manufacturing nation in the late 1970s, data from the trade body showed today.
Blockade: Transporters cash in on delivery rush
Importers rushed to the Chittagong port today as they look to secure the delivery of imported goods on the last day of the week and during the weekend in order to avoid being caught in another spell of blockade
Bangladesh remains vulnerable to BoP crisis: Moody’s
Bangladesh’s balance of payments (BoP) faces moderate risk among four South Asian countries owing to a drastic fall in foreign currency reserves, according to global credit ratings agency Moody's Investors Service.
Dollar surges up to Tk 127 in kerb market
Each dollar was Tk 121-Tk 122 a day ago
BLOCKADE / Importers rush to port to release goods
Importers rushed to the Chittagong port yesterday as they look to secure the delivery of imported goods on the last day of the week and during the weekend in order to avoid being caught in another spell of blockade.
Amnesty condemns ‘use of force’ on RMG demos
Amnesty International in a statement yesterday condemned the deplorable use of force on protesters on Wednesday that resulted in the deaths of at least two garment workers in clashes with the police in protests relating to minimum wage
Don't buy USD from remitters at over Tk 116
Bangladesh Bank yesterday directed banks not to buy US dollars from remitters by paying more than Tk 116.
'Cut red tape to boost exports'
Commerce minister says at the groundbreaking ceremony of Roptani Unnayan Bhaban
Economy
Gaznar Beel fishers find big business in dried fish
Gaznar Beel, one of the biggest water bodies in the Sujanagar upazila of Pabna, has become a thriving breeding ground for a variety of fish, bringing smiles to the faces of fishermen in the locality.
Jute goods makers' tax benefit extended
The National Board of Revenue (NBR) has extended reduced tax benefits for jute goods makers for three years until fiscal year (FY) 2025-26, according to a notification issued recently.
US calls on Bangladesh to end 'crackdown' on RMG workers
The US Department of Labor has called on the Bangladesh government to end the violent crackdown on protesting garment workers and conduct a full investigation into the alleged involvement of police in the killings of two workers
Global fashion brands commit to raise purchase prices for Bangladesh-made clothes
Global fashion retailers including H&M HMb.ST and Gap GPS.N are committed to raising purchase prices for Bangladesh-made clothing to help factories there offset higher workers' wages, a US-based association representing more than 1,000 brands said
Power Grid Company suffers Tk 626 crore loss in FY23
The Power Grid Company of Bangladesh Ltd incurred a massive Tk 626.48 crore loss in the financial year ended June 30.
ICB suffers 46% profit fall in FY23
The Investment Corporation of Bangladesh (ICB) suffered a 46 percent year-on-year decline in profit to Tk 77.84 crore in the financial year that ended on June 30.
Blockade to deepen existing economic crisis
The Foreign Investors' Chamber of Commerce & Industry (FICCI) yesterday warned that violence and blockade will adversely impact the orders for exports and foreign currency inflows, thus deepening the existing economic challenges.
Apparel shipment to US takes a nosedive
Bangladesh’s garment export to the United States fell 23.33 percent year-on-year to $5.77 billion in January-September owing to a demand slowdown in the world’s largest economy and the piling up of stocks.
Global Economy
Gradual currency depreciation should be a priority / Says Sri Lankan economist on Bangladesh
Allowing gradual depreciation of the currency should be a policy priority for Bangladesh and this is one of the lessons that the country could learn from Sri Lanka’s worst economic crisis, said a top economist of the island nation.
RMG work orders may rebound next season
There could be a strong rebound in the inflow of work orders for garment items from international retailers and brands in the coming seasons as the global economy is slowly making improvements from sluggish trends while the country could witness stability, buyers said.
After IDB, ICB, Saudi firm Al-Rajhi leaves Islami Bank
It sold 15.99 crore or 9.93% shares of the bank
Reserves fall to $19.5 billion after ACU payment
$1.17 billion of ACU payment was cleared today
73 businesses honoured with national export trophy
The commerce ministry and the Export Promotion Bureau jointly organised the event
Oil prices stutter after hitting 3-months-lows, demand concerns mount
Oil prices stuttered on Wednesday after sliding to their lowest in over three months in the previous session, weighed down by concerns over waning demand in the world's top oil consumers, the United States and China.
‘Not Tk 12,500, minimum wage should be Tk 25,000’
RMG workers’ platforms rejected new wage structure
Organisation News
Seven Rings Cement inks deal with United Hospital
Seven Rings Cement has signed an agreement with United Hospital Ltd.
Trust Bank inks MoU with CA Property
Trust Bank Ltd and CA Property Development Ltd (CPDL) have signed a memorandum of understanding (MoU) enabling the real estate company’s customers to easily get housing loans from the bank.
RR-Imperial Electricals distributes awards
RR-Imperial Electricals Ltd, an electrical wires and cables manufacturer in Bangladesh, has awarded winners of the last financial year for their outstanding performance.
Prime Bank’s Neera strikes deal with Konna Well-being
Neera, Prime Bank’s unique women-focused initiative, recently signed an agreement with Konna Well-being Ltd, a digital health awareness and service platform.
100MW solar power plant gets nod
The government has approved a proposal to set up a 100-megawatt solar-based power plant in Mymensingh’s Gouripur upazila.
Bangladesh Sustainability Alliance launched
A platform styled “Bangladesh Sustainability Alliance (BSA)” has recently been launched to address the sustainable development agenda on a broader scale by reducing plastic pollution and promoting circularity.
Gree business meet held
Electro Mart Group recently organised a daylong conference styled “Gree Business Meet 2024: Bangladesh Chapter”.
Edison Real Estate inks MoU with Biman
Edison Real Estate Ltd recently signed a memorandum of understanding (MoU) with Biman Bangladesh Airlines Ltd.
Business Multimedia
Is Bangladesh going towards a deep economic crisis?
How can Bangladesh avoid the economic crisis to deepen further?
Who will benefit from WTO's duty benefit extension?
What are WTO’s duty-free benefits?
How can Bangladesh resolve economic, political problems?
Why is Bangladesh facing economic problems? Why did the country fail to follow the IMF's loan conditions? What are the remedies?
Where can the national debit card 'Taka Pay’ be found?
What can be done with the national debit card? Where can the ‘Taka Pay’ card be found? Will the card end the business of Mastercard and Visa in Bangladesh?
Khulna farmers prefer cultivating beans instead of shrimps
Shrimps were once widely cultivated in Dumuria upazila of Khulna. Now, farmers in this area are moving towards growing vegetables, especially beans. Vegetables from Dumuria are also exported to many countries in Europe
What went wrong with data play?
Fed up being obese, Shrek decides to lose weight. He switches to a healthy diet and works out every day, feeling amazed at how well he adapted to his new lifestyle.
Airbus gives hope of economic viability
Airlines in Bangladesh, including Biman Bangladesh Airlines Ltd, will find use of Airbus aircraft alongside those of Boeing economically viable as new generations of the former are easier to operate and maintain than their predecessors.
Electronic fund transfers thru Nikash-BEFTN software from November 12
Electronic fund transfers will be carried out through the Nikash-BEFTN software of the Bangladesh Automated Clearing House (BACH) from November 12 instead of the Bangladesh Electronic Funds Transfer Network (BEFTN).
Construction of 1st terminal to start soon
Construction work on the first terminal of Bangladesh’s maiden deep sea port at Matarbari in the Moheshkhali upazila of Cox’s Bazar will start soon as the tender process for appointing a contractor is in the final stages.
Businesses harassed by customs
Businessmen yesterday alleged that they faced harassment from customs while seeking clearance for their goods.
Bankers asked not to offer over Tk 115 for a dollar
Two top bodies of bankers yesterday asked lenders not to offer over Tk 115 for one US dollar when conducting the exchange with Bangladeshi migrants working abroad, according to insiders.
First NDB project to ensure safe water for Dhaka
The government is set to take up its first New Development Bank-funded project to ensure safe water supply for Dhaka residents.
Shohel becomes a director of SBAC Bank
Shohel Ahmed has become a member of the board of directors of the South Bangla Agriculture and Commerce (SBAC) Bank Limited.
NBR offers tax rebate for Universal Pension Scheme
It also gives go-ahead to no tax on claims upon maturity
Southeast Bank holds conference on risk and sustainable finance
Southeast Bank Ltd recently organised the bank’s annual conference on “Risk and Sustainable Finance-2023” at its training institute in Motijheel.
