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The Financial Express

Search results for: trade

Dhaka's fifth bid to buy spot LNG in January

Dhaka's fifth bid to buy spot LNG in January

FE REPORT 2020-11-04 09:40:55

Bangladesh is preparing to float the fifth tender to purchase liquefied natural gas (LNG) from the international spot market in January. Rupantarita Prakritik Gas Company Ltd (RPGCL) previously flo...

36 textile mills accused of misusing import duty benefit

36 textile mills accused of misusing import duty benefit

Doulot Akter Mala 2020-11-04 09:36:32

The VAT authorities have found some 36 textile mills in Narsingdi under Dhaka division misused concessionary duty benefit for importing capital machinery. The East Zone of the Customs, Excise and VAT...

Cox’s Bazar to get dried fish processing industry

Cox’s Bazar to get dried fish processing industry

-- 2020-11-03 19:34:35

The government has decided to establish a dried fish processing industry in Cox’s Bazar with an estimated cost of Tk 1.99 billion by 2023. The Executive Committee of the National Economic Counc...

SUV registration declines in Jan-Sep period

SUV registration declines in Jan-Sep period

FE Online Report 2020-11-03 19:13:44

Registration of sports utility vehicles (SUV) in the hard/soft category witnessed a decline in the nine months of the current calendar year. A total of 3,929 SUVs were registered from January to Octo...

E-commerce market size to reach $3.0b by 2023

E-commerce market size to reach $3.0b by 2023

-- 2020-11-03 18:11:46

The size of e-commerce market in Bangladesh would reach $3 billion by 2023, speakers said at a webinar on Tuesday. They mentioned that the e-commerce business experienced a significant 166 per cent g...

10pc discount on Nagad merchant payment for online shopping

10pc discount on Nagad merchant payment for online shopping

FE Online Desk 2020-11-03 14:18:18

Postal Department's Digital Financial Services Nagad has announced an 'Online Shopping Festival' for the last two months of this year, where customers will get 5 to 10 per cent discount if they make m...

India asks its people to eat more sugar to tackle oversupply

India asks its people to eat more sugar to tackle oversupply

-- 2020-11-03 13:14:06

A glut of sugar has prompted India’s industry body to start a campaign to encourage Indians to eat more. The Indian Sugar Mills Association (ISMA) said it wants to bust myths about sugar and it...

Walmart scarps plans to use robots for scanning shelves, tracking inventory

Walmart scarps plans to use robots for scanning shelves, tracking inventory

-- 2020-11-03 11:59:20

Walmart Inc said on Monday it has dropped its plans to use roving robots to scan shelves and keep track of inventory, squashing the world’s largest retailer’s years-long efforts to automat...

Singapore central bank to stop printing S$1,000 banknotes

Singapore central bank to stop printing S$1,000 banknotes

Reuters 2020-11-03 10:29:47

Singapore will stop printing S$1,000 banknotes from January 1 next year, its central bank said on Tuesday, to curb the risk of them being used for money laundering and to finance terrorism. Existing...

Exporters worry about October data, new corona surge

Exporters worry about October data, new corona surge

MONIRA MUNNI 2020-11-03 09:55:36

The country's merchandise shipments again entered the negative territory in October last, threatening the process of recovery noticed during the past three months. The single month income in Octobe...

NBR cell to address trade-based money laundering

NBR cell to address trade-based money laundering

DOULOT AKTER MALA 2020-11-03 09:52:43

The National Board of Revenue (NBR) has formed a separate transfer pricing cell (TPC) for its customs and VAT wing to check trade-based money laundering through under- or overinvoicing. The cell will...

Tk 25b additional fund sought for a gridline project

Tk 25b additional fund sought for a gridline project

FHM HUMAYAN KABIR 2020-11-03 09:45:57

After spending extra funds, the Power Grid Company of Bangladesh (PGCB) has sought the revision of a project, which is intended to install a 400KV high-voltage gridline, officials said on Monday. The...

Emirates to set up air cargo hub for Covid-19 vaccine

Emirates to set up air cargo hub for Covid-19 vaccine

FE Online Desk 2020-11-02 15:52:39

Emirates SkyCargo, cargo division of Emirates airline is stepping up its readiness to handle the logistical complexities of distributing a potential Covid-19 vaccine globally by creating the world&rsq...

Digital land zoning to start soon: Minister

Digital land zoning to start soon: Minister

FE REPORT 2020-11-02 10:16:08

The government will soon start national digital land zoning work for optimum utilisation of country's land, said land minister Saifuzzaman Chowdhury on Sunday. "We (the government) will soon carry ou...

37 companies get land allotment at Bangabandhu Hi-Tech City

37 companies get land allotment at Bangabandhu Hi-Tech City

FE Report 2020-11-02 10:15:39

Some 37 companies have got land allocation in Bangabandhu Hi-Tech City, of which five are currently manufacturing there. They have made investment worth Tk 3.27 billion and created employment for m...

Service recipients approach middlemen as BRTA virtually inefficient

Service recipients approach middlemen as BRTA virtually inefficient

Munima Sultana 2020-11-02 10:13:32

The Bangladesh Road Transport Authority (BRTA) is operating with very few people, becoming virtually an inefficient service provider as the service recipients are highly dependent on the middlemen, so...

NBR taking over VAT Online project from Vietnammese contractor

NBR taking over VAT Online project from Vietnammese contractor

FE Report 2020-11-02 09:52:41

The National Board of Revenue (NBR) has taken move to enhance the capacity of its VAT wing as it would take over the VAT Online Project (VOP) from the Vietnamese company FPT in December. Some 2,814 o...

BB further relaxes loan repayments to financial institutions

BB further relaxes loan repayments to financial institutions

-- 2020-11-01 19:13:54

Bangladesh Bank (BB) has further relaxed repayment of loans by allowing the borrowers to pay their dues to financial institutions in more instalments considering the effects of Covid-19 pandemic, repo...

Guaranteed discount up to 50pc on Walton TV

Guaranteed discount up to 50pc on Walton TV

-- 2020-11-01 18:07:20

Walton Electronics has launched a ‘Digital Campaign’ of TV with the declaration of guaranteed cash discounts up to 50 per cent on the purchase of its any model of LED and Smart TV. ...

BB further extends deadline for CMSMEs package implementation

BB further extends deadline for CMSMEs package implementation

FE ONLINE REPORT 2020-11-01 17:32:36

The central bank has extended the deadline for executing the stimulus package for the cottage, micro, small and medium enterprises (CMSMEs) further by one more month. As per decision the deadline ha...

Bangladesh shop owners to deny services to customers without masks

Bangladesh shop owners to deny services to customers without masks

FE ONLINE REPORT 2020-11-01 16:29:23

Bangladesh shop owners have asked all customers to wear masks before entering any market, supershop and shopping mall, as fears of a second wave of the coronavirus linger in the country. Customers wi...

EBL wins three awards from VISA

EBL wins three awards from VISA

FE Online Desk 2020-11-01 14:52:02

Eastern Bank Ltd (EBL) has won three awards from VISA for its performance in product innovation and cards business. The award ceremony was held at a Webinar recently, according to a media release. A...

UK-Bangla joint venture company to invest $15.5 million at Adamjee EPZ

UK-Bangla joint venture company to invest $15.5 million at Adamjee EPZ

FE ONLINE DESK 2020-11-01 13:57:23

An UK-Bangladesh joint venture company is going to invest 15.5 million US dollars at Adamjee Export Processing Zone in the port city of Narayanganj,  Bangladesh Export Processing Zones Authority...

Amazon accuses India partner of misleading public

Amazon accuses India partner of misleading public

-- 2020-11-01 10:48:49

Amazon.com Inc has complained to India's market regulator that its local partner Future Retail Ltd misled shareholders by incorrectly saying it was complying with its contractual obligations to the US...

‘Bangladesh-India border haats are places for socio-cultural exchanges’

‘Bangladesh-India border haats are places for socio-cultural exchanges’

-- 2020-10-31 17:59:34

Border haats have immensely contributed towards socialisation and cultural exchanges between the people on both sides of the Bangladesh-India border, said Shirin Akhter, a member of parliament in Bang...

Number of registered vehicles witnesses sharp decline

Number of registered vehicles witnesses sharp decline

FE ONLINE REPORT 2020-10-31 17:28:56

The number of registered motorised vehicles in the country witnessed a drastic decline in the first nine months of the current calendar year, as per official data. A total of 262,674 motorised vehicl...

HSBC drives Bangladesh’s first crossborder blockchain LC transaction

HSBC drives Bangladesh’s first crossborder blockchain LC transaction

FE Online Desk 2020-10-31 15:56:57

HSBC has hit another milestone by successfully executing the first-ever crossborder Blockchain Letter-of-Credit (LC) transaction in Bangladesh. The transaction involved the import of 20,000MT of fuel...

Call to mobilise foreign investment in Bangladesh

Call to mobilise foreign investment in Bangladesh

FE Online Desk 2020-10-31 15:25:38

Speakers at a recent programme stressed the importance of facilitating international investments in Bangladesh for fostering economic growth, creating employment, and tackling the potential fallout of...

Traders sell new potatoes at Tk 150 a kg

Traders sell new potatoes at Tk 150 a kg

-- 2020-10-30 21:43:01

Retailers in Dhaka are selling newly arrived potatoes at Tk 150 a kilogram as the prices of old produce have crossed the fixed levels again after a brief drop. The traders and customers in Shantinaga...

Toyota recalling 5.84 million vehicles with faulty fuel pumps

Toyota recalling 5.84 million vehicles with faulty fuel pumps

-- 2020-10-30 18:12:34

Toyota Motor Corp said Wednesday it has recalled a total of 5.84 million vehicles for a defect in the fuel pumps that could cause the part to fail. The largest Japanese automaker said it was adding a...