Rawhide traders across Bangladesh have been left disappointed by low prices this year, according to market insiders.

Shikho, a startup aiming to make education accessible and affordable in Bangladesh, yesterday announced raising $1.3 million in seed money, making it the largest round of financing by a local edtech startup yet.

The value-added tax exemption for producing air conditioners, refrigerators and freezers locally has created interest among home appliance manufacturers in Bangladesh as firms are increasingly setting up full-fledged facilities, cutting their reliance on assembling.

Technology has a great influence on the working environment especially during this pandemic time as people are now being able to work remotely instead of their physical presence at the workplace, speakers said at a virtual programme today.

Tesla Inc posted a bigger second-quarter profit than expected on Tuesday thanks to higher sales of its less-expensive electric vehicles, as it raised vehicle prices and cut costs.   

A Colombo-bound vessel carrying export containers has been kept impounded at the Chattogram port’s outer anchorage for the last eight days by Chittagong Port Authority (CPA) following a High Court order.

Nagad, which acts as the main agent for mobile financial services (MFS) of Bangladesh Postal Office (BPO), plans to raise Tk 500 crore through a zero-coupon bond to pay its loans, develop networks and buy IT equipment for business expansion.

Textile manufacturer ZXY International has recently announced a new partnership agreement with textile innovator HeiQ enabling trading with brands and mills and connect as per requirements with innovative technologies. 

Dutch health technology company Philips on Monday beat analysts’ expectations with a jump in second-quarter core earnings to 532 million euros ($626 million), boosted by its personal health and diagnosis businesses.

Singapore sovereign wealth fund GIC will invest $240 million in Arctic Green Energy to support the renewable energy firm’s expansion in Asia and Europe, the companies said on Monday.

Custom House, Chattogram seized 50 tonnes of fabrics worth Tk 20 crore last week on finding evidence of it being imported forging seals and signatures of Customs Bond Commissionerate, Dhaka.

Marico Bangladesh posted 11 per cent growth in sales in the April-June quarter despite the second wave of coronavirus infections on the back of hair oils and baby care portfolios.

Profits of listed shoe-makers of Bangladesh dropped in 2020 despite the drastic fall in the price of rawhides as the sales of the finished products crashed because of the economic slump caused by the pandemic.

Like a million others, Ridoy Saha was rendered unemployed within weeks after Bangladesh introduced a nationwide lockdown in March last year to limit the spread of coronavirus.

Some 338 factories are running their operations across the country during the 14-day strict lockdown that began on July 23, according to the Industrial Police.

Import containers are piling up at an alarming rate at Chattogram port due to the worst delivery during the Eid holidays and the subsequent poor release of goods for the fresh lockdown, which could cause congestion anew.

Despite nine years of work and expenditure of nearly Tk 500 crore, the construction of the Central Effluent Treatment Plant in the Savar Tannery Industrial Estate (STIE) has not been completed.

After failing to get a desired government job, Jakaria Lenin, an English literature graduate in Tangail, set up a cattle farm about 11 months ago.

As much as $844 million is owed in wages and severance pay to garment workers in Bangladesh since the beginning of the pandemic, a new report of the Clean Clothes Campaign (CCC) said.

Wage labourers in Bangladesh passed a gruelling year as their income growth dropped to a six-year low in the last fiscal year, whereas living expenses went up amid rising inflation, official figures showed.