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European initiative to spend Tk 94b on renewable energy promotion in Bangladesh

European initiative to spend Tk 94b on renewable energy promotion in Bangladesh

FE REPORT 2021-06-24 09:48:09

Team Europe Initiative on Green Energy Transition (TEI GET), which was launched on Wednesday, will spend Tk 93.78 billion (EUR 930.6 million) on sustainable and renewable energy in Bangladesh. Co-cha...

Yet another package for CMSMEs with AIIB financing

Yet another package for CMSMEs with AIIB financing

FE REPORT 2021-06-24 09:46:05

The central bank on Wednesday formed yet another Tk 25.20-billion refinancing scheme as part of its the Tk 200-billion stimulus package plan for the cottage, micro, small and medium enterprise (CMSME)...

Warren Buffett steps down as trustee of Gates Foundation

Warren Buffett steps down as trustee of Gates Foundation

-- 2021-06-23 20:37:14

Warren Buffett has announced to step down as a trustee from the Bill and Melinda Gates Foundation, and that he has donated half his wealth since pledging 15 years ago to give away the fortune he built...

Per capita oil, fat consumption increases to 18.7 kg

Per capita oil, fat consumption increases to 18.7 kg

FE Online Report 2021-06-23 19:42:18

The country’s oil and fat consumption has increased to 18.7 kilogrammes (kg) which was 13.8 kg five years back. The disclosure was made on Wednesday at a national level virtual workshop, organi...

Public hearing to review LPG pricing formula begins July 7

Public hearing to review LPG pricing formula begins July 7

-- 2021-06-23 15:52:53

Another public hearing to review the pricing formula to fix the retail price of LPG (liquefied petroleum gas) will begin on July 7. Bangladesh Energy Regulatory Commission (BERC) has arranged the pub...

Brac Bank cancels card transaction with Evaly, nine other virtual shops

Brac Bank cancels card transaction with Evaly, nine other virtual shops

-- 2021-06-23 13:06:44

Brac Bank has terminated its transaction contracts with 10 virtual outlets with immediate effect. The online shops are Evaly, Alesha Mart, Dhamaka, E-orange, Sirajganj Shop, Aladiner Prodip, Qcoom, B...

NBR sets eligibility criteria for WCO certificate of merit

NBR sets eligibility criteria for WCO certificate of merit

FE REPORT 2021-06-23 09:37:58

The National Board of Revenue (NBR) has set nine parameters for selecting the persons eligible for the World Customs Organization (WCO) certificate of merit. The certificate of merit will be awarded...

Dhaka bypass road project tenure extended by four years, triples cost

Dhaka bypass road project tenure extended by four years, triples cost

FE REPORT 2021-06-23 09:19:09

The government has extended the tenure of Dhaka bypass road construction project by four years until June 2024 and almost tripled its cost to Tk 6.75 billion. The Executive Committee of the National...

BB’s SAARCFINANCE cell organises database webinar and working group meeting

BB’s SAARCFINANCE cell organises database webinar and working group meeting

FE ONLINE REPORT 2021-06-22 20:36:22

The SAARCFINANCE Cell, Research Department of the Bangladesh Bank organised a SAARCFINANCE database webinar and working group meeting on Tuesday through a virtual platform. The theme of the webinar w...

Pepsi shuts factory in Gaza due to Israeli restrictions

Pepsi shuts factory in Gaza due to Israeli restrictions

REUTERS 2021-06-22 20:08:49

Pepsi bottling company in Gaza was forced to halt operations this week due to Israeli import restrictions that were tightened during an 11-day conflict between Israel and Palestinian militants last mo...

BGMEA seeks support of Bangladesh High Commission in London regarding non-payment issues

BGMEA seeks support of Bangladesh High Commission in London regarding non-payment issues

FE ONLINE REPORT 2021-06-22 19:18:18

The country’s apparel apex body, BGMEA, on Tuesday sought support from the Bangladesh High Commission in London regarding non-payment of some of the British brands to their local suppliers durin...

Bangladeshi jackfruits hit German market for first time

Bangladeshi jackfruits hit German market for first time

-- 2021-06-22 18:06:29

Jackfruits from Bangladesh are now on sale in the market of Germany for the first time. ‘Lebensmittelmarkt’ in Berlin, Germany, imported the fruit recently from Bangladesh and Bangladeshi...

Zabid Iqbal becomes new DMD of City Bank

Zabid Iqbal becomes new DMD of City Bank

-- 2021-06-22 17:54:40

City Bank’s Chief Risk Officer (CRO) Zabid Iqbal has been promoted to the position of Deputy Managing Director recently. Mr Iqbal has been working as the Chief Risk Officer and Chief Anti Money...

India proposes tighter e-commerce rules amid complaints against Amazon, Flipkart

India proposes tighter e-commerce rules amid complaints against Amazon, Flipkart

Reuters 2021-06-22 12:48:10

India proposed banning flash sales on e-commerce websites and said on Monday their affiliate entities should not be listed as sellers on their platforms, in a proposed tightening of rules that could h...

BEZA signs land lease deals with six organisations

BEZA signs land lease deals with six organisations

FE REPORT 2021-06-22 10:42:47

Bangladesh Economic Zones Authority (BEZA) on Monday signed land lease agreements with six organisations -- three of them will establish industrial units and another will set up a hotel and resort in...

Farmers supply two-thirds of produced cereals to market: Survey

Farmers supply two-thirds of produced cereals to market: Survey

FE REPORT 2021-06-22 10:09:46

Bangladesh's farmers supplied two-thirds of their produced cereal crops including paddy, wheat and corn to the market for the consumption by all, according to a survey. The survey conducted by Bang...

Onion prices shoot up by Tk 10 per kg in two days

Onion prices shoot up by Tk 10 per kg in two days

YASIR WARDAD 2021-06-22 10:06:49

The prices of onion started increasing again in the city's retail market adding to woes of the commoners. The government's measures to ease imports as well as an expected bumper production hardly cou...

Policy to set alternative ref rates at LIBOR transition

Policy to set alternative ref rates at LIBOR transition

SIDDIQUE ISLAM 2021-06-22 09:56:40

The central bank has issued a policy to set up alternative reference rates at LIBOR transition to facilitate export and import financing, officials said. "It is expected that from 2022 onward, all ne...

Myriads of taxes bleed savers dry

Myriads of taxes bleed savers dry

DOULOT AKTER MALA 2021-06-22 09:51:05

Different forms of taxes on bank deposits, even on the principal amount, discourage savers to choose the formal channel of financial transactions. The myriads of taxes also increase the cost of doing...

Why rice prices increase despite bumper Boro harvest, minister asks officials

Why rice prices increase despite bumper Boro harvest, minister asks officials

-- 2021-06-21 21:39:30

Food Minister Sadhan Chandra Majumder on Monday asked the officials to find out the reasons behind the increase in rice prices despite a bumper yield of Boro paddy in the country. “The rational...

Axiata, Telenor seal $15b deal to merge operations in Malaysia

Axiata, Telenor seal $15b deal to merge operations in Malaysia

-- 2021-06-21 19:36:17

Malaysian telecoms firm Axiata Group Bhd and Norway’s Telenor ASA will merge their mobile operations in Malaysia in a $15 billion deal, forming a new market leader in the competitive Southeast A...

Bangladesh, Maldives discuss prospects of exporting resort wear

Bangladesh, Maldives discuss prospects of exporting resort wear

UNB 2021-06-21 19:34:27

Apparels makers have discussed the prospect of exporting resort wear and leisure apparel to the Maldives. The small archipelagic state is a popular destination for global tourists where the demand fo...

Over 93pc RMG workers faced up to 65pc wage cuts in pandemic: Survey

Over 93pc RMG workers faced up to 65pc wage cuts in pandemic: Survey

FE Online Report 2021-06-21 15:05:25

A total of 93.4 per cent of the surveyed readymade garment (RMG) workers in Bangladesh faced up to 65 per cent cut in wages during the Covid-19 period, according to a latest report.   Besid...

Padma Bridge railway slab placement completed

Padma Bridge railway slab placement completed

MUNIMA SULTANA 2021-06-21 10:34:38

The Padma Bridge project has stepped into another stage by completing placement work of rail slabs on the country's longest bridge having both rail and road options. Official sources said all 2,959 s...

Indenting agents seek VAT withdrawal

Indenting agents seek VAT withdrawal

FE REPORT 2021-06-21 09:04:39

Country's indenting agents have sought withdrawal of VAT (Value Added Tax) from indenting services in the greater interest of the sector. They have also urged the government to bring down the existin...

Money whitening fails to curb capital flight from Bangladesh

Money whitening fails to curb capital flight from Bangladesh

FE REPORT 2021-06-21 09:00:49

The opportunity to whiten black money is one of the major barriers of combating corruption and it could not play any role to check capital flight from the country, Professor Dr Mustafizur Rahman, Dist...

Bangladesh's RMG export to US market drops in Jan-Apr period

Bangladesh's RMG export to US market drops in Jan-Apr period

MONIRA MUNNI 2021-06-21 08:45:06

US apparel imports from its top five destinations including China, Cambodia and Vietnam recorded a rise while that from Bangladesh and India declinedduring the first four months of the year 2021. Dur...

Largest 16 MW rooftop solar power plant at KEPZ initiates operation

Largest 16 MW rooftop solar power plant at KEPZ initiates operation

FE ONLINE REPORT 2021-06-20 20:01:30

The Korean EPZ (KEPZ) in Chattagram has initiated operations of the country’s largest solar rooftop power plant on Sunday. This 16 megawatt (MW) power plant is the first of its sort in any EPZs...

Petrobangla signs MOU with Indian H-Energy to import R-LNG

Petrobangla signs MOU with Indian H-Energy to import R-LNG

FE ONLINE REPORT 2021-06-20 19:36:19

State-run Petrobangla has inked a memorandum of understanding (MOU) with Indian H-Energy recently to import re-gasified LNG (R-LNG) through a cross-border pipeline. This is Petrobangla’s second...

DCCI president urges Vietnamese entrepreneurs to invest in Bangladesh

DCCI president urges Vietnamese entrepreneurs to invest in Bangladesh

FE ONLINE REPORT 2021-06-20 17:35:11

Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman has urged Vietnamese entrepreneurs to invest or make joint ventures in agro and food processing, shipbuilding, electronics, leathe...