Economy | The Daily Star
  • Nestle opens Tk 150cr infant formula plant

    Nestle Bangladesh yesterday started processing, filling and packaging the company’s infant formula at its Tk 150 crore factory in Sreepur, Gazipur.

  • Financial, industrial stocks lift European shares to near record high

    Gains in financial and industrial stocks lifted European shares on Wednesday, though the main equity index held off record highs on nervousness that the US Federal Reserve could flag later in the day when it plans to start unwinding its stimulus.

  • Shocked by Covid deaths, young Indians rush for life insurance

    Like many other twenty-somethings in India, Beverly Coutinho kept postponing buying a life insurance policy, until a surge in Covid-19 cases and deaths made her confront her own mortality.

  • US retail sales fall as spending shifts back to services

    US retail sales dropped more than expected in May, with spending rotating back to services from goods as vaccinations allow Americans to travel and engage in other activities that had been restricted by the Covid-19 pandemic.

  • EU offers to help diversify exports

    The European Union (EU) has offered to help Bangladesh diversify its export basket, promote decent work, and upskill workers amid the ongoing global economic downturn caused by Covid-19.

  • Make a 2-year survival plan for businesses

    The government should prepare a two years’ survival plan for businesses, outlining different recovery guidelines, to safeguard the country’s trade and economy amidst the pandemic, said businesses yesterday.

  • Banking hour 10am to 3.30pm until Jul 15

    Bangladesh Bank has instructed banks to keep their doors open from 10:00am to 3.30pm for customers until July 15.

  • BSRM profit soars 197pc in Jul-Mar

    Profit of BSRM Ltd soared 197 per cent year-on-year to Tk 273 crore in the first nine months of the 2020-21 fiscal year powered by higher sales, lower finance and operating costs.

  • Cotton waste recycling can save $500m a year: study

    Bangladesh can save $500 million a year by recycling the cotton waste as garment factories and textile millers produce a huge volume of leftovers of the key raw material, according to a study.

  • Banks’ provision shortfall widens

    The provision base of the banks in Bangladesh deteriorated heavily in the first quarter of 2021 because of the surging bad loans, highlighting the worsening health of the banking industry.

  • Second wave derails recovery: MCCI

    The second wave of coronavirus infections and subsequent lockdowns have derailed Bangladesh’s economic recovery from the coronavirus pandemic, said the Metropolitan Chamber of Commerce and Industry (MCCI) yesterday.

  • New laws can cut money laundering: Kamal

    Finance Minister AHM Mustafa Kamal yesterday said it would be possible to check money laundering by enacting new laws, creating investment-friendly environment and bringing the culprits into book by resolving pending money laundering cases.

  • BSRM's profit rises 197% to Tk 273 crore

    Profits of BSRM Ltd soared 197 per cent year-on-year to Tk 273 crore in the nine months of the current financial year of 2020-21 powered by higher sales, lower finance and operating cost.

  • Recruiting agencies face higher AIT: Tax burden may be pushed onto migrant workers

    Recruiting agencies will have to pay higher advance income tax (AIT) on service charges or fees they earn from migrant workers going abroad, according to tax measures proposed by the National Board of Revenue (NBR) for the next fiscal year of 2021-22.

  • An aged society ahead

    Bangladesh is hurtling to become an aged society, a worrying sign as it will pose challenges to its development aspiration since there will be more elderlies and the days of cheap workers will be over.

  • Islamic Finance MD resigns amid graft allegations

    Abu Zafore Md Saleh, managing director of Islamic Finance and Investment, has resigned over allegations of breaching rules and regulations in recruiting employees and enjoying financial benefits.

  • Bad loans rise as payment holiday ends partially

    As feared, default loans went up substantially in the first quarter of 2021 after the government partially withdrew the loan moratorium facility, which had prevented downgrading borrowers even if they failed to pay instalments regularly.

  • Fed walks tightrope between big jobs gap and rising inflation

    Federal Reserve officials meet this week faced with ongoing tension between their two main goals, as inflation rises faster than expected even with millions of Americans still unemployed more than a year after the onset of the coronavirus pandemic.

  • India to expedite Amazon, Flipkart antitrust probe

    India’s antitrust watchdog plans to expedite a restarted probe into allegations of anti-competitive behaviour at Amazon.com Inc and Walmart Inc’s Flipkart, as it intensifies scrutiny of big-tech firms, two people close to the matter said.

  • LafargeHolcim joins hand with HSBC in payments automation

    The Hongkong and Shanghai Banking Corporation (HSBC) recently implemented a host-to-host connectivity with LafargeHolcim Bangladesh by integrating their enterprise resource planning system with HSBC connect.

  • Govt scraps plan to phase out reconditioned cars

    The government has withdrawn its plans to phase out reconditioned car imports over the next five years considering the growing demand for private transport, according to the draft Automobile Industry Development Policy 2021.

  • Stocks return to the black

    The stock market bounced back yesterday as investors came out from the profit booking tendency that prevailed for the last two days.

  • DSE sues Banco Securities

    The Dhaka Stock Exchange (DSE) has filed a case against Banco Securities on discovering a shortfall of Tk 60 crore in its consolidated customers’ account.

  • IDLC Finance gets new chief executive

    IDLC Finance has recently witnessed the appointment of a new chief executive officer (CEO) and managing director (MD).

  • BGMEA urges Switzerland for extension of duty-free access

    The garment makers' platform today urged Switzerland to extend duty-free access to Bangladeshi apparels for 10 years under the Everything but Arms scheme to ensure smooth transition of Bangladesh to a developing country

  • Stocks bounce back

    The country's stock market bounced back today, as investors came out from the profit booking tendency of the last two days.

  • Custom greenhouse enables faster yields

    Imagine neat rows of vegetable saplings in the thousands growing in a temperature and humidity controlled environment fitted with drip irrigation and free from pests, capable of providing harvests 15 days in advance.

  • Modernise FBCCI

    Commerce Minister Tipu Munshi yesterday asked the leaders of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to leave their traditional way of thinking and contribute more to trade by modernising the country’s apex trade body.

  • ACI stocks soar on news of Tk 84cr foreign investment

    ACI stocks soared yesterday when news broke that its subsidiary ACI Motors is set to receive Tk 83.99 crore in foreign investment for the expansion of its vehicle manufacturing capacity.

  • Make farm machinery affordable

    The government should provide at least 80 per cent subsidy to farmers to bring agriculture machinery within their purchasing power.

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