Business and Trade

Panasonic joins firms stepping away from Huawei after US ban

Japan is Panasonic on Thursday said it would stop supplying some components to Huawei, joining a growing list of firms distancing themselves from the Chinese telecoms giant after

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Mobile networks in Asia, Europe suspending Huawei smartphones order

Mobile networks in Asia and Europe are suspending orders for Huawei smartphones following the US decision last week to restrict the company is access to American technology.

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Asia stocks fragile as trade anxiety overshadows Huawei reprieve

Asian stocks were on shaky ground on Wednesday, as earlier relief over Washington’s temporary relaxation of curbs against China’s Huawei Technologies failed to offset deeper

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NEC approves highest ever Tk 2,02,721cr ADP for FY20

The National Economic Council (NEC) yesterday approved the highest ever Tk 2,02,721 crore Annual Development Programme (ADP) for the next fiscal year (2019-2020) giving priority

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Boeing acknowledges flaw in 737 MAX simulator software

Boeing acknowledged Saturday it had to correct flaws in its 737 MAX flight simulator software used to train pilots, after two deadly crashes involving the aircraft that killed 346

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Govt’s bank borrowing rises as tax receipt slow

A sluggish growth in tax collection pushed the government to borrow from the country’s banking system in March and April this year as half of the annual development programme is

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Another Boeing added to Biman fleet

A Boeing 737-800 aircraft was added to the fleet of Biman Bangladesh Airlines on Thursday. The aircraft, brought on lease from Kuwait is Alfaco arrived at Dhaka airport around

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Suspicious financial transaction rises 64pc

The number of reports on suspicious transaction and activities about money laundering and terror financing has increased nearly 64 per cent in the fiscal year 2017-2018 in

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‘Misunderstanding’ between businesses, tax officials about VAT law ends: Kamal

Finance minister AHM Mustafa Kamal on Tuesday said that the much vaunted new value-added tax law would be implemented from July 1 as a ‘misunderstanding’ between the

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Asian markets track big losses after China retaliates

Asian markets extended a global sell-off Tuesday following hefty losses on Wall Street that came in response to China is hike in tariffs on $60 billion of US imports, ramping up

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RMG sector posts 12.59pc rise in export earnings

Thanks to value added products, government policy support, capacity enhancement and completion of 90 per cent of the factory remediation work set by Accord and Alliance, the

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Eco-friendly brick businesses pacing up

Imagine working in an office that uses sunlight instead of artificial lights for illumination and that has in place central air conditioning instead of the split or window air

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Export earnings growth slows down in April

The country’s export earnings in April posted a paltry growth of 2.69 per cent year-on-year, falling short of the government target. Although, export earnings in April

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Falling import costs, adequate stocks bring down date prices

Adequate supplies and a decline in import prices have brought down the wholesale prices of different categories of dates, a commodity highly consumed during Ramadan, compared to

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Uber valued at $82.4bn as it prices IPO at $45 per share

Loss-making ride-hailing app asking investors to pay $45 per share – at the low end of the range it had set for Wall Street debut. Uber is seeking a valuation of $82.4bn, less

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Small, medium businesses face Tk 23,700cr financing deficit

The country’s micro, small and medium entrepreneurs suffer from financing gap worth Tk 23,700 crore that limits the growth of the key economic drivers, according to a

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Saudi investment group keen to invest in Bangladesh ports

Red Sea Gateway Terminal (RSGT), Saudi port operator and investment group, has expressed its interest to invest in Bangladesh’s port and terminal sectors. The group has also

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Walmart raises minimum age to buy tobacco products to 21

Starting in July, people under the age of 21 will no longer be able to buy tobacco products from Walmart or Sam’s Club stores in the United States Walmart Inc. announced on

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Big tobacco is fighting Colorado’s nicotine tax bill with powerful lobbyists

A company tied to cigarette-maker Philip Morris and popular vape brand Juul has spent thousands on social media ads against the tax hike. It’s also hired lobbyists from the

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Prices of essential goods stable: Tipu Munshi

Commerce Minister Tipu Munshi on Tuesday said that the government is satisfied with the overall market conditions of dairy products and the prices of essential goods are

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Tobacco firm BAT ‘costs developing countries $700m in tax’

British American Tobacco has been accused of depriving developing countries of hundreds of millions of dollars in tax by using “financial manoeuvring” to shift profits to a UK

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Biman slow to capitalise on market growth: Airbus official

Biman Bangladesh Airlines, the national carrier, is being slow in taking advantage of the aviation market growth. “What usually happens is that home airlines take 40 to 50 per

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Tipu for fair price of RMG products in US market

Commerce Minister Tipu Munshi yesterday underscored the need for ensuring fair price of Bangladeshi RMG products in the US market.

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Salman urges OIC states to step up investment

The Prime Minister’s adviser on private industries and investment, Salman F Rahman, urged all member countries of the Organisation of Islamic Cooperation (OIC) to increase

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Tipu for ensuring workplace safety for garment workers

Commerce Minister Tipu Munshi yesterday urged owners of the garment factories to ensure workplace safety along with increasing others facilities to make apparel sector

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GP urges BTRC to withdraw ‘illegal’ audit demand

Grameenphone Ltd on Tuesday in a letter to the Bangladesh Telecommunication Regulatory Commission (BTRC) labelled the regulator’s recent audit demand of Tk 12,579.95 crore as

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Commerce minister for Bangladesh, Canada business forum

Commerce Minister Tipu Munshi yesterday underscored the need for setting up a forum to boost communication between the businessmen of Bangladesh and Canada. “If such a forum is

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Emirates envoy for increasing trade with Bangladesh

Ambassador of United Arab Emirates (UAE) to Bangladesh Saed Mohammed Al Muhairi yesterday called on state minster for shipping Khalid Mahmood Chowdhury at his secretariat office

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Uber reveals strong growth, huge losses ahead of IPO

Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market, revealing strong growth but an ongoing struggle to

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Jet Airways cancels international flights as crisis deepens

Jet Airways appears to have suspended all its international flights, raising fresh fears about the Indian airline's survival. This comes after the carrier on Thursday grounded 10

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Bangladesh ensures its stake in fourth industrial revolution

Posts, telecommunications and information technology minister Mustafa Jabbar yesterday said Bangladesh has ensured its stake in world’s “fourth industrial revolution” being

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Online business booms ahead of Pahela Baishakh

With Pahela Baishakh, the largest non-religious festival of Bangladesh, approaching, e-commerce sites and F-commerce pages are having a busy time. Targeting the Bangla New Year,

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Bangladesh wins WSIS award

Bangladesh has won the world’s prestigious award in ICT sector – ‘World Summit on Information Society (WSIS) Prize-2019’ for its outstanding contribution to the

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Bangladesh to become ‘preferred destination’ for Swiss businesses

Switzerland has said Bangladesh will become a "more preferred destination" for Swiss businesses in the future with further improved infrastructures and energy supply, regulatory

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ECNEC to consider Indian Economic Zone project

The government is undertaking a big project to establish Indian Economic Zone at Mirersarai in Chattogram involving Tk 919.85 crore in a bid to attract more Indian investors in

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Turkey keen to establish medicine plants in Bangladesh

Turkish Deputy Minister for Health Dr Emine Alp Mese yesterday called on Health and Family Welfare Minister Zahid Maleque, expressing his country’s interest to establish

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Nissan shareholders sack ex-chief Ghosn

Nissan shareholders voted Monday to eject Carlos Ghosn from the board, as the detained former chairman fights multiple financial misconduct charges that have landed him in

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Scandal-hit Korean Air chairman dies at 70, shares soar

The head of South Korea's flag carrier Korean Air --- whose family have been embroiled in multiple scandals including an infamous "nut rage" tantrum -- has died, the airline said

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Govt loses Tk 2,000cr revenue annually

The illegal trade of cigarette products is reportedly causing losses of the annual revenue of an estimated Tk 2,000 crore, which is about 10 per cent of the total revenue earning

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Prices of essentials higher ahead of Pahela Baishakh

The prices of hilsa and other fish, chicken, beef and mutton increased in the retail markets in the capital Dhaka over the week ending yesterday as demand of hilsa fish rose for

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Huawei P30 series to hit local market

Huawei’s most advanced series of smartphone, the P30 series with super sensing Leica quad camera is about to be unveiled in Bangladeshi market soon, the company said in a press

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Voting underway in BGMEA election

The election to Bangladesh Garment Manufacturers and Exporters Association (BGMEA) for 2019-21 is underway on Saturday. The voting started at the BGMEA Bhaban in Karwan Bazar at 8

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BD likely to see fastest economic growth in Asia: ADB

Bangladesh’s economy is likely to see the fastest growth in Asia and the Pacific, a new Asian Development Bank (ADB) report said Wednesday.

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GDP growth to hit 8pc in FY19-20: ADB

Bangladesh’s economy will grow at 8 percent in 2019-20 fiscal, according to the Asian Development Outlook 2019 released here on Wednesday.

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DCCI for separate SME bank

Dhaka Chamber of Commerce and Industry (DCCI) yesterday made a demand to set up separate bank for the flourishing of country’s Small and Medium Enterprises (SME).

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TCB commodity sale for Ramadan begins April 22

The state-owned Trading Corporation of Bangladesh (TCB) will start commodity selling at subsidized rate across the country from April 22 on the occasion of the holy Ramadan

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Stern action if anyone takes e-BIN thru false info

The National Board of Revenue (NBR) Chairman Md Mosharraf Hussain Bhuiyan yesterday said that stern action would be taken against those who makes VAT registration or takes

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BAPI re-elects president, general secretary

Nazmul Hassan and Shafiuzzaman were re-elected as president and general secretary of Bangladesh Association of Pharmaceuticals Industries, respectively, for the year 2019-21, a

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Boeing must do more work on proposed 737 fix: US regulator

Boeing must perform more work on a proposed fix to its 737 MAX aircraft before it can be submitted for review, US officials said Monday, suggesting the planes could stay grounded

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US-Bangla Airlines launches Dhaka to Chennai flights

US-Bangla Airlines, one of the leading private airlines of the country on Sunday has launched direct flights from Dhaka to Chennai of India.

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