Mega steel plant in the works Bangladesh-China JV to invest $3.5b Jagaran Chakma A consortium of 17 local companies and a Chinese steelmaker is set to invest $3.5 billion to establish a Bangladesh-China joint venture integrated steel plant in Moheshkhali. Of the sum, Kunming Iron and Steel Holding Company (KISC), a leading steelmaker from China, […]
Govt moves to set lifespan of new roads, buildings PMO issues directives on road and bldg maintenance Syful Islam The government has moved to determine the lifetime of all new public-sector roads and buildings to be built across the country, officials said. The Prime Minister’s Office (PMO) has recently asked all the government secretaries to […]
Challenges for Bangladeshi exports to India M S Siddiqui Bangladesh imported products worth US$48.21 billion and exported $34.85 billion during the year 2016-17. Imports from Bangladesh to India are increasing at faster rate, but Bangladeshi exports to India are declining gradually. Over the past five years, trade between Bangladesh and India increased by 28 per […]
Trade deficit crosses $18b Experts for exploring new markets alongside diversifying products Siddique Islam The country’s trade deficit passed the $18 billion mark in fiscal year (FY) 2017-18 mainly due to higher import payments than lower export receipts. Officials said the trade gap with the rest of the world rose to $18.26 billion in the […]
China to boost $3.8tr digital economy Xi calls for self-reliance Reuters, Beijing China on Wednesday pledged to expand its $3.8 trillion digital economy and create jobs in new sectors such as big data and artificial intelligence (AI) as the world’s second-biggest economy looks to shift away from a reliance on polluting heavy industries. China is […]
Govt seeks funds from WB Star Business Report Bangladesh has sent a proposal to the World Bank seeking finances for its $5.15-billion Ganges Barrage project, said Finance Minister AMA Muhith yesterday. “I have given (to the World Bank) the Ganges Barrage project much earlier,” he told reporters after a meeting with WB Vice President for […]
Singapore firm invests $15m in Shohoz Star Business Report Online ride-hailing and ticketing platform Shohoz yesterday announced it has raised $15 million from Golden Gate Ventures of Singapore to expand its business. However, both Shohoz and Golden Gate Ventures declined to give the number of shares the investor will receive in exchange of the fund. […]
AKM Zamir Uddin Banks’ net profit soared 19.55 percent in the first six months of the year, compared to the same period a year ago, propelled by impressive performance by a few private lenders. Between the months of January and June, the banks raked in profits of Tk 2,206 crore, according to the provisional data […]
Major trade deal with India on the way Refayet Ullah Mirdha Bangladesh and India yesterday agreed to sign the Comprehensive Economic Partnership Agreement (CEPA), a greater economic cooperation deal, with the view to boosting bilateral trade. Indian Commerce Minister Suresh Prabhu and Bangladesh’s Commerce Minister Tofail Ahmed announced the signing of the deal at a […]
Bangladesh demands better prices for garment items Star Business Report Bangladesh sought better prices for its export items, especially garments, from the US retailers and brands in the fourth round of Ticfa meeting held in Washington on Thursday. In the event of the Trade and Investment Forum Agreement (Ticfa), Bangladesh also demanded duty privilege for […]