13 industrial units win President’s Award The government will confer awards on 13 industrial units today (Tuesday) for their outstanding contributions to economic development of the country. The ‘President’s Award for Industrial Development-2016’ will be given to the winners under heavy, medium, small, micro, cottage and high-tech industry categories.President Md Abdul Hamid will give away […]
IFC offers $40m loan to lower middle-income group The International Finance Corporation (IFC) has proposed investing up to US$ 40 million in a state-run financial entity in the form of loans to the lower middle-income people in Bangladesh, officials said. According to its Articles of Agreement, the private sector lending arm of the World Bank […]
FBCCI suggests overall dev of railway sector The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) emphasised on Monday overall development of the country’s railway sector.In this connection they pressed for adding more transport trains to the fleet on different routes to facilitate trade and business activities. The views of the apex trade-body came […]
New device set to replace ECR EFD to be mandatory from next fiscal year The National Board of Revenue (NBR) is set to make use of Electronic Fiscal Device (EFD) mandatory for businesses from the upcoming fiscal year, officials said. This will scrap the existing order for ECR installation. Such device will be interconnected with […]
Walmart buys 77pc stake in India’s Flipkart for $16b US retail behemoth Walmart said Wednesday it will buy a 77 percent stake in Indian online sales giant Flipkart for $16 billion in the world’s biggest e-commerce deal. The blockbuster takeover threatens a major blow to rival Amazon’s ambitions in India. Flipkart and Amazon have been […]
A new ray of hope for SMEs They may be allowed to raise funds from capital market The Chinese consortium will work to create an SME-based board in the Dhaka Stock Exchange so that small entrepreneurs get the opportunity to raise fund from the capital market. “It will help to boost the SMEs as well […]
Transport, power to take centre stage in budget The planning ministry is likely to propose a Tk 1.81 lakh crore development budget for next fiscal year, giving emphasis on accelerating the construction works of some flagship infrastructure projects like the Padma bridge, Rooppur power plant and Dhaka metro rail. The amount is 14.56 percent higher […]
CRISIS IN BANKS BB asks state lenders to hand in action plan Bangladesh Bank yesterday sought an action plan from five state lenders on how to bring down their defaulted loans and reduce their capital shortfall this year. The five state-owned banks — Sonali, Janata, Agrani, Rupali and BASIC — were asked to submit the […]
Deal signed with Chinese firm for 1,320MW plant Bangladesh Power Development Board (BPDB) signed a joint venture agreement with China Huadian Hong Kong Company Ltd (CHDHK) yesterday to construct a 1,320-megawatt (MW) coal-fired power plant in Maheshkhali, Cox’s Bazar at a potential cost of $2 billion. Under the deal, a joint venture will be set […]
Dhaka to see six new luxury hotels Dhaka is set to welcome half a dozen international hotel chains over the next couple of years, brought about by the growing influx of business travellers to Bangladesh. “The economy is expanding and so is the number of guests,” said Md Jashim Uddin, vice-chairman of Bengal Group of […]