Search results for: Trade

Former Farmers Bank's new management seeks waiver of Tk 1.44b penalty

FE REPORT 2020-12-09 08:38:20

Padma Bank Limited, formerly known as Farmers Bank, has sought waiver of a penalty amounting to Tk 1.44 billion imposed by the central bank for its failure to comply with the required cash reserve r...

Another private bank gets go-ahead

SIDDIQUE ISLAM 2020-12-08 19:53:25

Bangladesh Bank (BB) on Monday gave its seal of approval to Citizen Bank Limited, asking the lender to boost paid-up capital to Tk 5.0 billion within two years. The board of directors of the central...

Bangladesh receives ‘Best Award’ at 15th Abuja Int’l Trade Fair

-- 2020-12-08 19:47:06

Bangladesh received ‘Best Award’ for outstanding performance and lasting contribution at the 15th Abuja International Trade Fair held on November 24 to December 4 at Abuja in Nigeria. Ban...

PM adviser Salman euphoric about launching ‘Sukuk Bond’ soon

-- 2020-12-08 19:00:06

Prime Minister’s Private Industry and Investment Adviser Salman Fazlur Rahman on Tuesday expressed enthusiasm for the introduction of ‘Sukuk Bond’ in Bangladesh market as a new inves...

Evaly, platinum sponsor of Digital World 2020

FE ONLINE DESK 2020-12-08 16:06:37

Evaly.com.bd has become a ‘platinum sponsor’ of the 'Digital World-2020', while its concern e-food, the food partner of the opening and closing ceremonies of the exposition that is set to...

BMW develops data hub with Amazon to boost efficiency

-- 2020-12-08 14:27:34

BMW has developed a data hub with Amazon’s cloud computing division, in a sign of how companies are increasingly using “big data” to try to boost efficiency. “We want to switc...

Half of Tk 28b bridge project fund earmarked for nonessential costs

FHM Humayan Kabir 2020-12-08 13:31:13

The Roads and Highways Department (RHD) has proposed Tk 848.62 million funds only for consultancy services to construct a steel arch bridge over the Brahmaputra river in Mymensingh, according to offic...

Nine mills to start sugarcane crushing, six others to remain shut

FE REPORT 2020-12-08 11:09:44

The government has asked nine state-owned sugar mills to start crushing of sugarcane for producing sugar during the current season. The ministry of industries (MoI) has already asked the authority of...

Bangladesh-India freight train service resumes on December 17

FE Report 2020-12-08 11:01:12

Bangladesh and India are set to reopen train services, both freight and passenger, on the Chilahati-Haldibari route, after 55 years of suspension. Prime Ministers of Bangladesh and India will inaugur...

101 consumers to be awarded every month for having EFDs

FE Report 2020-12-08 10:53:25

Consumers will get cash prize on invoices by purchasing goods from the shops or outlets having Electronic Fiscal Devices (EFDs). Every month some 101 consumers will get the opportunity through a lott...

Bangladesh to import 300,000 tonnes of rice

YASIR WARDAD 2020-12-08 09:49:32

The government is now desperate to source rice from the global market as its domestic procurement drive has almost fallen flat. Directorate General of Food (DGoF) has already completed the process to...

Petrobangla may raise gas, electricity prices as NBR scraps tax rebate on LNG imports

Doulot Akter Mala 2020-12-08 08:41:24

The National Board of Revenue (NBR) has scrapped tax rebate facility on import of liquefied natural gas (LNG) by the Petrobangla. The NBR's VAT Policy Wing issued a directive on Monday, explaining th...

BERC moves to set uniform LPG price at consumer level

-- 2020-12-07 21:41:15

The Bangladesh Energy Regulatory Commission (BERC) has finally initiated a move to set the price of liquified petroleum gas (LPG) at the consumer level. “We’ve already started a process f...

BGMEA demands new stimulus package

FE ONLINE REPORT 2020-12-07 20:14:10

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday demanded a new stimulus package to pay workers’ wages amid the second wave of Covid-19. BGMEA President Dr Ruban...

Maksons Group to invest $112m to set up textile, chemical industries

-- 2020-12-07 18:48:48

Maksons Group will invest US $112 million to set up three textile and chemical industries at the Bangabandhu Sheikh Mujib Shilpa Nagar at Mirsarai of Sitakundu in Chattogram. The proposed export-orie...

Six state-run mills to continue sugarcane purchase

-- 2020-12-07 18:16:11

The six sugar mills, out of 15 under Bangladesh Sugar and Food Industries Corporation (BSFIC), will not crush sugarcanes this year. However, these mills will purchase sugarcanes supplied by the growe...

Month-long workshop on Jute goods manufacturing at Mirpur Porabasti Slum

FE Online Desk 2020-12-07 15:55:50

A month-long training course on Jute goods manufacturing began at the Porabasti Slum of Mirpur on Saturday.  The initiative has been undertaken by a local NGO, SPACE to commercially manufacture...

FBCCI tech centre to help start-ups thrive

FE REPORT 2020-12-07 10:57:41

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Sunday launched a technology centre styled as 'Tech C' to support SMEs and start-ups in enabling technology in their respect...

Coal-fired power projects behind implementation schedule

M AZIZUR RAHMAN 2020-12-07 10:53:55

All the under-construction and proposed coal-fired power plant projects in the country are behind schedule, resulting in uncertainty over their completion on time. It has been alleged that the dela...

RMG makers in trouble for deferred payments, workers' layoff feared

MONIRA MUNNI 2020-12-07 10:43:23

The adverse purchasing practices, delayed payments, lower price offers and less work orders by global buyers might force a good number of suppliers out of business, industry people fear. A new surv...

VAT rules relating to freezing bank accounts unclear, find taxmen

Doulot Akter Mala 2020-12-07 09:21:17

The absence of a specific method in the VAT rules has made it difficult for the taxmen to freeze bank accounts of non-compliant businesses, deepening fear of the potential legal issues, tax officials...

Nagad wins best digital financial service award

FE Online Report 2020-12-06 18:45:03

Business Tabloid, an international business magazine, has awarded Nagad as the Best Digital Financial Services of 2020, says a press release. Nagad is the digital financial service of Bangladesh Post...

Sony to shut Malaysia factory to consolidate operations

-- 2020-12-06 16:39:22

Japanese electronics giant Sony Corp will close a factory in Malaysia next year to consolidate its operations in its other plant in the state for efficiency, the company said on Saturday. The company...

Britain and EU in final push for Brexit trade deal

REUTERS 2020-12-06 14:49:46

British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen instructed their negotiators to resume trade talks on Sunday in a last ditch attempt to bridge significant d...

Need for separate national light engineering policy stressed

FE REPORT 2020-12-06 12:29:14

Stakeholders at a seminar on Saturday demanded a separate national light engineering policy for the sector's expansion with quality and sustainability. They urged the government to set up light engin...

Bangladesh, Bhutan sign Preferential Trade Agreement

-- 2020-12-06 12:20:18

Bangladesh on Sunday signed its maiden Preferential Trade Agreement (PTA) with Bhutan to boost bilateral trade between the two countries. Commerce Minister Tipu Munshi and Bhutanese Economic Affairs...

Dhaka’s eastern fringe may see 90-km corridor for mass transit

MUNIMA SULTANA 2020-12-06 08:36:21

A feasibility study has proposed building a national highway in the city's eastern fringe area, keeping the scope for both bus and train-based mass transit services due to a faster growth in the num...

HSBC arranges awareness session on customs duty e-payment system

-- 2020-12-05 18:37:51

The Hongkong and Shanghai Banking Corporation (HSBC) in Bangladesh organised a virtual session titled ‘Webinar on e-Payment of Customs Duty’ recently, according to a press release. The p...

High duty on raw materials, lack of high-tech hurt light engineering sector, experts say

FE Online Report 2020-12-05 17:06:07

Experts observed that high duty on raw materials, lack of advanced technology and initiatives of market expansion both in domestic and international level are hitting hard the country’s light en...

Trust Bank gets new DMD

FE Online Desk 2020-12-05 13:23:18

Mr Ahsan Zaman Chowdhury has been appointed as the Deputy Managing Director (DMD) and Chief Business Officer (CBO) of Trust Bank Limited with effect from December 01, 2020, according to a press releas...