Tag: Business

‘The storm over Bangladesh economy has blown over’

Post author By Shoriful Islam
Post date August 13, 2020
No Comments on ‘The storm over Bangladesh economy has blown over’

Bangladesh might be one of only two ASEAN and South Asian economies to register positive growth in 2020 despite a global recession that is shaping up to be historic in scale, according to Standard Chartered Bank’s research team.

“The worst has passed us,” said Saurav Anand, an economist of Standard Chartered for South Asia.

The economy faced challenges between April and June,

Now, there are early signs of recovery in some pockets after the economy started opening up from June, he said at a webinar styled ‘Standard Chartered Global Research Briefing Media Engagement Session’ yesterday.

Tags Bangladesh newspapers, Business, Infohub BD, infohubbd, International, National, The Daily Star

Business

Will attain double digit in ease of doing business index in 2021: Salman F Rahman

Post author By Infohub BD
Post date August 12, 2020
No Comments on Will attain double digit in ease of doing business index in 2021: Salman F Rahman

Private Industry and Investment Adviser to the Prime Minister Salman F Rahman on Wednesday said Bangladesh will attain double digit next year in the global ranking of ease of doing business.

He made the remark at a virtual meeting for the launching of three new services on the Online One Stop Service Portal of Bangladesh Investment Development Authority (BIDA).

Verification of National Identity Card, Security Clearance of Security Services Department and Land Use Clearance of Chittagong Development Authority services were formally launched through the virtual meeting.

Inaugurating the function, Salman F Rahman called upon all to work collectively to increase local and international investment.

Tags Bangladesh News 24, Bangladesh newspapers, Business, infoHub, Infohub BD, infohubbd, International, National, news-paper, Salman F Rahman, The Daily Star

Business

BMW introduces 2 Series Gran Coupe in Bangladesh

Post author By Shoriful Islam
Post date August 11, 2020
No Comments on BMW introduces 2 Series Gran Coupe in Bangladesh

German car manufacturers BMW have introduced the 2 Series Gran Coupé in Bangladesh.

Executive Motors Limited who are the official dealers for BMW in Bangladesh, unveiled the first ever 2 series Gran coupe this evening through a virtual launch, according to a press release.

Christopher Wehner, Managing Director, BMW Group Asia was the honorable chief guest and gave the welcome speech, M Shamsul Arefeen, Director Operations, Executive Motors limited was present in this virtual launch.

Tags Bangladesh newspapers, Business, infoHub, Infohub BD, infohubbd, International, National, UNB

Business

Breaking records, remittance continues to beat all odds

Post author By Infohub BD
Post date August 4, 2020
No Comments on Breaking records, remittance continues to beat all odds

Remittance continues to defy all expectations. It was supposed to take a massive hit due to the economic recession brought on by the global coronavirus pandemic, leaving one of the pillars of strength for the Bangladesh economy wobbling.

In reality, it is thriving.

After sending home a record $18.20 billion last fiscal year that ended on June 30, migrant workers sent in another $2.6 billion in July, which is a record for a single month.

July’s inflows were up 38.5 percent from a year earlier and 42.1 percent from the previous month, according to data from the Bangladesh Bank.

Tags Bangladesh News 24, Business, infoHub, Infohub BD, infohubbd, International, National

Business

Two projects for the poor see their allocations slashed

Post author By Infohub BD
Post date July 29, 2020
No Comments on Two projects for the poor see their allocations slashed

Irregularities and apathy have become a permanent feature of project implementation in Bangladesh, thanks to which no infrastructure is ever ready on time.

The delays mean, the costs are invariably raised — and this has become commonplace in the country.

But yesterday, the unusual happened: the government slashed the allocation for two projects that were meant to help the poor.

Tags Bangladesh newspapers, Business, infoHub, Infohub BD, International, National

Business

Vendor has been paid in full, but NBR is still without a successful online tax return filing system

Post author By Infohub BD
Post date July 26, 2020
No Comments on Vendor has been paid in full, but NBR is still without a successful online tax return filing system

Everything was going well for the online tax return filing project until the end of 2019.

The first online tax return filing scheme — Bangladesh Integrated Tax Administration System (BITAX) — completed on June 2018 and the National Board of Revenue’s agreement with the vendor expired on 29 November 2019.

Just a month later, the first blow came from the then NBR Chairman Md Mosharraf Hossain Bhuiyan.

Tags Bangladesh newspapers, Business, infoHub, Infohub BD, International, National

Business

Budget deficit to go through the roof

Post author By Infohub BD
Post date July 25, 2020
No Comments on Budget deficit to go through the roof

Bangladesh’s budget deficit may shoot to as high as 10 per cent of the GDP in the current fiscal year as the government would have to keep spending more to tackle the brunt of the coronavirus pandemic amid a drastic fall in revenue generation, the World Bank said.

The Washington-based multilateral lender………

Tags Bangladesh, Bangladesh newspapers, Business, infoHub, Infohub BD, infohubbd, National

Business

BB announces credit guarantee scheme for small enterprises

Post author By Infohub BD
Post date July 25, 2020
No Comments on BB announces credit guarantee scheme for small enterprises

The central bank yesterday decided to introduce a credit guarantee scheme for the micro and small enterprises, the first of its kind in the country, giving a much-needed lifeline to the SME sector struggling to stay afloat.

The board of the Bangladesh Bank approved the scheme worth Tk 2,000 crore for the entrepreneurs in the cottage,………

Tags Bangladesh, Bangladesh Bank, Bangladesh newspapers, Business, International, National

Business

India tightens bidding regulations for bordering countries

Post author By Infohub BD
Post date July 25, 2020
No Comments on India tightens bidding regulations for bordering countries

With an eye mainly on China, India has amended rules imposing restrictions on public procurement from bidders of countries with which it shares land border, citing grounds of defence and national security, reports our New Delhi correspondent.

Bidders from these countries will be eligible only if they are registered with the Registration Committee constituted by the Department for Promotion of Industry and Internal Trade (DPIIT) ….

Tags Bangladesh newspapers, Business, Export & Import, Exporters, International, National

Business

Exporters get yet another shot in the arm from govt

Post author By Infohub BD
Post date July 25, 2020
No Comments on Exporters get yet another shot in the arm from govt

The government yesterday gave yet another stimulus package worth Tk 3,000 crore for the export-oriented industries to help them provide wages and salaries to their workers for July.

This is the third stimulus package for the export-oriented industries, which are now actively running their units, since March.

Tags Bangladesh newspapers, Business, Exporters, International, National