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The Financial Express

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Insurers' life fund declines 6.0pc in ‘17

Insurers' life fund declines 6.0pc in ‘17

Jasim Uddin Haroon 2018-06-23 10:14:21

The "life fund" of all the 32 life insurers shrank by nearly 6.0 per cent in calendar year 2017, revealed a report. The financial institutions division under the finance ministry prepared the report....

BR automation move suffers on anomalies, manpower shortage

BR automation move suffers on anomalies, manpower shortage

FHM Humayan Kabir 2018-06-23 10:03:01

The automation and reform initiatives of the Bangladesh Railway (BR) have faced a setback due to large-scale anomalies in implementation of the project concerned and shortage of required manpower, ins...

Singapore Airlines to shift planes  from SilkAir to budget arm Scoot

Singapore Airlines to shift planes from SilkAir to budget arm Scoot

-- 2018-06-22 22:00:57

SINGAPORE, June 21 (Reuters): Singapore Airlines Ltd said on Thursday it expected to transfer some jets from its SilkAir regional airline to budget carrier Scoot allowing it to compete more effectivel...

US threatens veto against slow WTO rulings

US threatens veto against slow WTO rulings

-- 2018-06-22 21:34:34

The United States told the World Trade Organisation on Friday that appeals rulings can be vetoed if they take longer than the allowed 90 days. US Ambassador to WTO Dennis Shea gave the message of his...

BIMSTEC summit likely on Aug 30-31

BIMSTEC summit likely on Aug 30-31

Mir Mostafizur Rahaman 2018-06-22 14:47:05

The fourth summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is likely to be held in Kathmandu on August 30-31. All the seven member states have a...

EU tariffs on US goods come into force

EU tariffs on US goods come into force

-- 2018-06-22 13:55:33

The European Union (EU) has introduced retaliatory tariffs on US goods as a top official launched a fresh attack on President Donald Trump's trade policy. The duties on €2.8 billion (£2.4...

Govt extends deadline for remediation of RMG units

Govt extends deadline for remediation of RMG units

FE Report 2018-06-22 13:17:55

The government has extended the deadline for completing the remediation work in garment factories, inspected under national initiative, up to December 2018. State minister for labour Mujibul Haque Ch...

Why companies need older workers

Why companies need older workers

Reuters 2018-06-22 13:14:24

The demographic trend is no secret: the populations of the United States and other major industrial countries are getting older, and fast. That means workforces are aging too, but employers are doing...

FBCCI seeks withdrawal of VAT from IT-based service sector

FBCCI seeks withdrawal of VAT from IT-based service sector

FF Report 2018-06-22 13:08:44

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urged the government to withdraw value added tax (VAT) from the IT-based service sector. The call came at a meeting of the FBCCI...

OPEC strives for deal to raise oil output as Iran resists

OPEC strives for deal to raise oil output as Iran resists

-- 2018-06-22 12:28:36

OPEC scrambled on Thursday to agree on raising oil output, with Saudi Arabia warning of shortages but Iran holding out against a deal amid the prospect of lower exports due to US sanctions on Tehran....

Oil prices climb on uncertainty ahead of OPEC meeting

Oil prices climb on uncertainty ahead of OPEC meeting

-- 2018-06-22 11:10:39

Oil prices rose by more than 1.0 per cent in early Asian trading on Friday, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the d...

Fish, vegetables see another round of price hike

Fish, vegetables see another round of price hike

FE Report 2018-06-22 10:38:20

The kitchen markets in the capital saw another round of price hike this week, with fish, potato and other vegetables getting dearer. After Eid holidays, the markets are yet to return to normal as pre...

E-commerce business growing fast

E-commerce business growing fast

Sajibur Rahman 2018-06-22 10:06:56

E-commerce business has been expanding fast in the country over the years riding on the ever-increasing internet facility, sector insiders said. The size of e-commerce market crossed the Tk 17.0 bill...

BB to issue prudential guidelines to execute proposed rates cut

BB to issue prudential guidelines to execute proposed rates cut

FE Report 2018-06-22 09:35:48

The central bank has planned to issue prudential guidelines for implementing the proposed cut in the banks' lending and deposit rates. To discuss the matter, the Bangladesh Bank (BB) will sit sometim...

Swiss National Bank keeps  ultra-loose monetary policy

Swiss National Bank keeps ultra-loose monetary policy

-- 2018-06-21 21:55:37

BERN, June 21 (Reuters): The Swiss National Bank maintained its expansionary monetary policy on Thursday, citing a "fragile" exchange rate situation.The exchange rate situation made it essential for t...

NBR tells banks to slash interest on loans

NBR tells banks to slash interest on loans

-- 2018-06-21 21:28:23

Banks will not get corporate tax benefits in the proposed budget if they do not lower interest rates on loans for businesses, said the chief of tax administrator. “Banks are fortunate because t...

Regal Emporium opens new outlets in Narsingdi, Habiganj

Regal Emporium opens new outlets in Narsingdi, Habiganj

FE Online Desk 2018-06-21 15:40:22

Regal Emporium has recently opened its new outlets in Narsingdi and Habiganj. R N Paul, Managing Director of RFL Group, inaugurated an outlet at Golap Chattar of Narsingi Sadar and another at old Mun...

BAB seeks BB's help to implement lower interest rates

BAB seeks BB's help to implement lower interest rates

FE Online Report 2018-06-21 15:33:07

The Bangladesh Association of Banks (BAB) has sought assistance from the central bank to implement its proposed lower interest rates on lending and deposit within the timeframe. The appeal was made a...

62 companies to get National Export Trophy

62 companies to get National Export Trophy

FE Report 2018-06-21 13:24:03

A total of 62 companies will be awarded the National Export Trophy 2014-15 at a ceremony on July 11, according to the commerce ministry. Prime Minister Sheikh Hasina will give away the awards to the...

Gold prices edge down

Gold prices edge down

FE Report 2018-06-21 10:44:14

Local jewellers have revised gold prices downward in line with the international market price. The new price will be effective from today (Thursday), according to a statement by Bangladesh Jewellers'...

Biman cargo complex:  Audit finds irregularities

Biman cargo complex: Audit finds irregularities

Kamrun Nahar 2018-06-21 10:39:10

An internal audit team of the Biman Bangladesh Airlines has unearthed 'serious' irregularities in collection of cargo handling charges at its cargo complex since 2008. The cargo complex authority of...

ICCB President Mahbub off to Paris

ICCB President Mahbub off to Paris

-- 2018-06-21 10:38:00

International Chamber of Commerce (ICC) - Bangladesh President Mahbubur Rahman left Dhaka for Paris, France on Wednesday. He is scheduled to join the ICC World Council meeting and a meeting of Perm...

Slow process of fixing minimum wages irks garment workers

Slow process of fixing minimum wages irks garment workers

Monira Munni 2018-06-21 10:37:18

The process to fix minimum wages for the readymade garment sector is going on at a slow pace, much to the annoyance of rights groups and workers, labour leaders said. The government formed the minimu...

EU starts retaliatory import duties on US products

EU starts retaliatory import duties on US products

-- 2018-06-20 21:01:30

The European Union will begin charging retaliatory import duties of 25 per cent on a range of US products from Friday. American exports such as blue jeans and motorbikes will be targeted. The decisi...

Midland Bank marks fifth anniversary

Midland Bank marks fifth anniversary

-- 2018-06-20 17:13:38

Midland Bank Limited (MDB), a fourth generation private commercial bank in the country, has completed its fifth year of operation.  MDB chairman M Moniruzzaman Khandakar cut a cake at a programm...

Czech Republic set to invest in Bangladesh: Envoy

Czech Republic set to invest in Bangladesh: Envoy

-- 2018-06-20 16:26:19

Ambassador of the Czech Republic to Bangladesh Milan Hovorka on Wednesday expressed his country's readiness to invest in different sectors in Bangladesh. Hovorka, resident in New Delhi, showed the in...

BAB sets bank lending rate at 9.0pc, deposit at 6.0pc

BAB sets bank lending rate at 9.0pc, deposit at 6.0pc

FE Online Report 2018-06-20 14:45:52

Bangladesh Association of Banks (BAB) has decided to bring down the interest rate on lending at 9.0 per cent and that on deposit at 6.0 per cent from the existing levels. The decision was taken by th...

ICAB to hold post-budget confce Thursday

ICAB to hold post-budget confce Thursday

FE Online Desk 2018-06-20 13:48:05

The Institute of Chartered Accountants of Bangladesh (ICAB) will hold a post-budget conference on Thursday at its auditorium in Dhaka. Chairman of National Board of Revenue (NBR) Mosharraf Hossain...

India’s Kansai Nerolac to merge with BD’s RAK Paints

India’s Kansai Nerolac to merge with BD’s RAK Paints

-- 2018-06-20 13:43:09

India’s Kansai Nerolac Paints Ltd says it has agreed to acquire 55 per cent equity stake in Bangladesh-based RAK Paints Ltd for Tk 572.6 million or around $7.0 million. The Mumbai-based firm sa...

65 countries adopt 126 investment policy measures

65 countries adopt 126 investment policy measures

FE Online Report 2018-06-20 13:03:17

Some 65 countries and economies adopted at least 126 investment policy measures in the past year, according to World Investment Report (WIR) 2018. Of these policy measures, 84 per cent were favourab...