Study on Electronic govt procurement / Tk 60,000cr contracts awarded in 11 years based on single bids

The electronic procurement, rolled out more than a decade ago to ensure competition and cut the scope of irregularities, still suffers from a lack of competition as public agencies awarded contracts worth Tk 60,069 crore based on single bids, a new study found.

Govt’s electronic fund transfers to save Tk 60,000cr in five years

Implementation of an integrated budget and account system (iBAS++) will save Bangladesh an estimated Tk 59,804 crore ($5.4 billion) in the next five years. 

US cotton GSP scheme could be win-win

Bangladesh’s garment exports to the US can increase anywhere from $400 million to $800 million annually if the American government offers a “cotton GSP scheme”, according to a study.

BB fixes forward forex rate for first time

For the first time, the Bangladesh Bank has decided to determine the rate of foreign exchange, namely the US dollar, to be delivered in future, widely known as forward contract -- a move that has created mixed reactions among businesses.

Malaysia boosts exports of palm oil to China

Malaysia will increase palm oil exports to China by 500,000 tons a year as it faces pressure from new European Union restrictions targeting deforestation, a senior minister told AFP on Monday.

India could sell more wheat in open market

The Indian government could sell more wheat in the open market to control prices that have reached their highest in nearly eight months, the country’s food secretary said on Monday.

Bank Asia holds Agent Business Meet-2023

Bank Asia Limited organised a daylong “Agent Business Meet-2023” at the Bangladesh Academy for Rural Development (BARD) in Cumilla on Saturday.

NCC Bank distributes agri materials to Cumilla farmers

NCC Bank has distributed agricultural materials, including seeds, fertiliser and pesticides, free of cost among 1,155 marginal farmers of Nangalkot, Cumilla sadar and Gouripur of Cumilla district on Saturday.

Alliance Finance organises workshop

Alliance Finance PLC, in collaboration with Bangladesh Financial Intelligence Unit (BFIU), organised a daylong workshop on “Anti-money laundering and combating financing of terrorism”.



MONITOR AIRLINE OF THE YEAR / Emirates wins 9 awards

Emirates has been named the “Airline of the Year 2023” in Bangladesh in the “ShareTrip Monitor Airline of the Year 2023” award ceremony in recognition of its award-winning products and services.

5h ago

Saif Powertec signs MoU with Kolkata port

Saif Powertec Limited, a local provider of logistics and container supply chain management services, has agreed to facilitate the transport of goods from mainland India to remote north-eastern states of the neighbouring nation.

5h ago

Now Fitch has a negative outlook on Bangladesh

Bangladesh’s credit rating came under further threat today as Fitch put the country on a “negative” outlook while giving a damning verdict on the central bank’s policy response to the fast-depleting foreign currency reserves

7h ago

Tourism awaits a fillip from long weekend

In Bangladesh, the peak season for the tourism and hospitality sector begins in September and continues until March. And the upcoming long weekend is going to provide an initial boost to the sector, with operators in major holiday destinations coming up with various offers.

8h ago

‘Cotton GSP scheme’ could be win-win'

Bangladesh’s garment exports to the US can increase annually anywhere from $400 million to $800 million if the American government offers a “cotton GSP scheme”, according to a study.

8h ago

Emirates sweeps 9 awards at Monitor Airline of the Year

The Dubai-based airline won a total of five gold, two silver and two Bronze awards in various categories

12h ago

'Competition still missing in e-procurement'

The Transparency International Bangladesh says

13h ago

Democratic transition prerequisite for inclusive economy

A democratic transition has emerged as a prerequisite for an inclusive and sustainable economy, said a noted economist today.

15h ago
Global Economy

Global Economy

German business morale weak in Sept

German business sentiment fell less than expected in September but it was the fifth consecutive decline, a key survey showed Monday, as Europe’s biggest economy struggles to recover from a recession.

5h ago

Will Bangladesh benefit from trade in rouble?

Russia has included Bangladesh on its list of friendly and neutral countries, a development that would allow its local banks and brokers to settle trade transactions in the rouble.

21h ago

China seeks energy partnership with Arab states

China is willing to work with Arab states to build a strategic energy partnership featuring mutual benefits and long-term friendship and explore the possibility of a renminbi settlement for oil and gas trade, a senior Chinese official said on Thursday during the sixth China-Arab States Expo.

1d ago

UK consumers most optimistic since early 2022

British consumers are their most optimistic since the start of 2022 as they turn more hopeful about the economy with inflation on the wane and wages growing, a survey showed on Friday.

1d ago

Fed official calls for more rate hikes

The US Federal Reserve has more work to do to tackle high inflation despite making “considerable” progress in the last 18 months, a senior bank official said Friday.

1d ago

Malaysia’s medical tourism sector alive and well

Medical tourists are returning to Malaysia in full force and are expected to surpass the pre-Covid-19 pandemic level in 2019 thanks to the reopening of borders, quality healthcare and competitive pricing.

1d ago

Toyota to speed up EV production

Toyota Motor will speed up production of electric vehicles of its Toyota and luxury Lexus brands, the Nikkei newspaper reported on Friday.

1d ago

Dollar up against major currencies

The US dollar advanced against a basket of currencies on Friday as the latest batch of data on business activity from around the globe highlighted the superior position of the United States relative to other major economies.

1d ago
Organisation News

Organisation News

NSU observes World Pharmacists Day

North South University Pharmaceutical Club organised a rally today, marking World Pharmacists Day 2023, read a press release.

11h ago

Islami Bank wins Muktadhara’s ‘Remittance Award’

Islami Bank Bangladesh PLC won the “Remittance Award” from Muktadhara New York Inc for collecting the highest amount of remittance in Bangladesh.

1d ago

Prime Bank inks deal with Le Meridien Dhaka

Prime Bank recently signed a strategic partnership with Le Meridien Dhaka.

1d ago

Commercial Bank of Ceylon, Partex Furniture sign MoU

The Commercial Bank of Ceylon PLC signed a memorandum of understanding (MoU) with Partex Furniture Industries Ltd, a furniture manufacturing company in Bangladesh.

1d ago

Meghna Bank wins ‘Excellence in Credit Cards’ by Visa

Meghna Bank Ltd has won the “Excellence in Credit Cards” award in the “Visa Leadership Conclave 2023”.

2d ago

Union Bank distributes agriculture funds

Shariah-based Union Bank Ltd distributed agriculture investment among farmers in Chattogram yesterday.

2d ago

Exim Bank holds business development confce

Exim Bank yesterday arranged a “Business Development Conference” for the branch managers, executives and officials of the bank in Chattogram region.

2d ago

Fresh Ceramics opens dealer showroom in Bangla Motor

Fresh Ceramics, a ceramics and tiles manufacturing company of the Meghna Group of Industries, recently launched a dealer showroom styled “Hatirpool Tiles” at Bangla Motor in Dhaka.

2d ago
Business Multimedia

Business Multimedia

Khulna farmers prefer cultivating beans instead of shrimps

Shrimps were once widely cultivated in Dumuria upazila of Khulna. Now, farmers in this area are moving towards growing vegetables, especially beans. Vegetables from Dumuria are also exported to many countries in Europe

Fishes aplenty at Friday haat

A haat pops up every Friday along the Kaliakoir-Tangail road in Gazipur where buyers find almost all varieties of fish available in the country

Bogra Motors manufactures, exports automobile filters 

There are 350 different types of filters made by Motors Bogra Pvt Ltd, from motorbike filters to car filters. These filters, produced in Bangladesh, are exported overseas as well as being used locally

Has the number of unemployed really decreased in the country?

The number of unemployed in the country has decreased. In other words, more people are involved in economic activities than ever before

Jon Haat: a place for hiring farm workers

The demand for day labourers is considerably high in Faridpur as farms in the major crop producing region require the assistance of seasonal workers whenever the harvest period comes around.

Exporters’ dollar retention limit lowered again

The Bangladesh Bank has once again lowered the US dollar retention limit that exporters have to maintain in their foreign currency accounts from the shipment proceeds as Bangladesh continues to face the shortage of the American greenback.

1d ago

Minori, Emerald, Jamuna join hands to produce rice bran oil

Emerald Oil and Minori Bangladesh joined hands with Jamuna Edible Oil Industries to produce and sell rice bran oil in the local and Japanese markets.

1d ago

BATBC to build Tk 151cr warehouse

British American Tobacco Bangladesh (BATBC) has decided to invest nearly Tk 151 crore to construct a warehouse and set up ancillary facilities in its Savar factory. 

1d ago

US wants govt action against counterfeit apparel exports

The United States has urged Bangladesh to take action to address the export of counterfeit clothing items from the second-largest garment supplier to the world’s largest economy.

1d ago

US dollar gets costlier

The Bangladesh Foreign Exchange Dealers' Association (Bafeda) and the Association of Bankers' Bangladesh (ABB) increased the rate at a virtual meeting

1d ago

Banks asked to work together to stabilise forex market

The central bank instruction came from a meeting between Governor Abdur Rouf Talukder and a delegation of the Association of Bankers Bangladesh (ABB)

1d ago

BGMEA demands fair price from buyers

The BGMEA made the demands in a letter sent to Action, Collaboration, Transformation (ACT)

1d ago

Exporters’ dollar retention limit lowered again 

Traders are allowed to keep a portion of their earnings in the export retention quota (ERQ) accounts to settle back-to-back letters of credit liabilities without facing exchange losses.

1d ago

BTMA re-elects Mohammad Ali Khokon as president

The president, three vice-presidents and 23 directors were elected unopposed

1d ago

Govt’s bank borrowing in check

The government’s borrowing from the banking system has remained in check so far in the ongoing fiscal year thanks to lower expenditures and higher revenue collection.   

1d ago