Business Desk :The Chattogram port must fast-track the unloading of goods, install modern equipment, and improve service quality in order to cut congestion and facilitate Bangladesh’s fast-expanding global trade, speakers said on Tuesday.“The system of releasing goods from the Chittagong port is quite complex. We need to get out of this as soon as possible,” said Bangladesh Freight Forwarders Association Vice President Khairul Alam Sujan.He urged the customs authorities to extend support to this end.He spoke at a roundtable titled...
Reuters :Rocketing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses.This grip is not expected to ease until 2026 when more liquefied natural gas (LNG) starts to materialise and lower prices, adding to supply worries for poorer states reliant on it to generate power and driving up costs for big Asia economies, reports Reuters.The global LNG market has more than doubled...
Business Desk :Chinese company Qinda Outdoor (BD) Co Ltd is going to invest $12 million to set up a factory at Ishwardi Export Processing Zone (IEPZ).The company will produce annually two million pieces of tents, canopy, bags, sleeping bags, backpacks, tarpaulins, awnings, sunblinds, mosquito nets, portable folding chairs, recycle bins and umbrellas, said a press release of the Bangladesh Export Processing Zones Authority (Bepza).To this end, Ali Reza Mazid, investment promotion member of Bepza, and Zhang Yan, representative of Qinda...
Business Desk :The Bangladesh Bank has once again renewed the interim licence of Nagad as the Bangladesh Post Office (BPO) could not form a subsidiary to run the mobile financial service within the deadline.This is the sixth extension since the state-run agency secured provisional approval from the central bank in March 2020.This time, the interim licence has been extended for a year.It came on September 25 after the Directorate of Posts had sought the extension, said a BB official.Nagad has...
Business Desk :Doreen Power Generations and Systems Ltd’s profit surged more than 42 per cent in the financial year that ended on June 30 this year.The company reported consolidated earnings power share of Tk 10.31 in the last financial year from Tk 7.23 a year ago.Consolidated net asset value per share with revaluation rose to Tk 53.15 in 2021-22 from Tk 43.22 in 2020-21.Consolidated net operating cash flow per share, however, stood at Tk 32.22 in the negative compared to...
Business Desk :An 86-member business delegation from Dhaka Chamber of Commerce & Industry (DCCI) will leave for Istanbul, Türkiye on Tuesday for a 4-day visit to explore new business opportunities and investment cooperation.President of Dhaka Chamber Rizwan Rahman is leading this large business delegation, said a press release on Monday.The long-standing bilateral relations between Bangladesh and Türkiye reached a new height with increasing trade and investment cooperation in diverse areas. To steer this friendly economic relation, Dhaka Chamber is leading...
Business Desk :Bangladesh China Chamber of Commerce & Industry (BCCCI) and the Chinese Enterprises Association in Bangladesh (CEAB) signed a...
Business Desk :Nagad, the mobile financial service of the Bangladesh Postal Department, has brought a cashback offer of up to Tk400 on Mastercard credit card bill payments. To get this offer, the consumers must save their Bangladesh Bank-approved Mastercard credit cards in the Nagad app, reads a press release. The Nagad app has the facility to pay bills by adding Bangladesh Bank-approved debit or credit cards and this time, Nagad brings exciting news for the credit card users. A credit...
Business Report :Dhaka and Chittagong bourses closed in the red for the second consecutive day on Monday as most shares fell amid investors’ persistent concern about rising inflation and continued global economic turmoil.The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), edged down 4 points, 0.06 per cent, to close at 6,510. It fell 48.84 points, 0.74 per cent on Sunday.The DSES, the shariah-based index, lost 0.02 per cent to 1,420. The DS30, the index that consists of...