Business Views & Comments

Sri Lanka banks on ‘Casino King’ to woo investors

Online Desk Cash-strapped Sri Lanka’s president Friday appointed the island’s biggest casino operator Dhammika Perera as Investment minister with responsibility over a Chinese-funded tax-free enclave in the impoverished South Asian nation. The 54-year-old businessman known as Sri Lanka’s “Casino King” was sworn in by President Gotabaya Rajapaksa at his sea-front residence to attract foreign capital into the country, his office ...

Cadbury owner buys US energy bar maker Clif for $2.9bn

Online Desk The owner of British chocolate brand Cadbury has announced that it is buying US energy bar maker Clif Bar & Company for $2.9bn (£2.4bn). Mondelez International – which also owns Oreo, Toblerone and Milka – says the deal will help drive its plans to “lead the future of snacking”. The food and drinks giant also says it will ...

TCB resumes OMS of daily commodities

Staff Reporter The Trading Corporation of Bangladesh (TCB) has resumed open market sale (OMS) of essential commodities at subsidized rates across the country today ahead of Eid-Ul Azha. Sale of daily commodities (lentil, oil and sugar) across the country will continue till July 5. TCB started the proramme aiming to benefit around 10 million families. However, TCB will start sales ...

Customers to get high quality tiles as RAK establishes new factory

Business Desk The country’s tiles sector is going to be enriched as a new factory has been initiated by RAK Ceramics, a listed multinational ceramic tiles and sanitaryware maker. Snitaryware giant has moved to construct the factory at 100 bighas of land in Gazipur at the cost of Tk 902 crore to produce value-added products. Having daily production capacity of ...

Asian markets track Wall St rally as traders cheer ‘dovish’ Fed hike

International DEsk Asian markets rose Thursday as traders cheered a sharp Federal Reserve interest rate hike that signalled it is intent on driving inflation down from four-decade highs, while its boss Jerome Powell said such big moves would not be commonplace. Regional traders tracked a surge on Wall Street after the central bank move, with hopes that the surge in ...

Australia hikes minimum wage as inflation soars

International Desk SYDNEY, June 15, 2022 (BSS/AFP) – Australia raised the minimum wage by over five percent on Thursday, a slower-than-inflation increase as prices for basic goods soar. The Fair Work Commission set the new minimum rate at Aus$21.38 (US$14.75) an hour, a 5.2 percent increase. Inflation is forecast to hit seven percent by the end of the year, according ...

Bangladesh attracts second highest FDI in South Asia, receives $2.9 billion in 2021

Online Desk With the economy back to normal amid a rapid fall in COVID-19 cases, Foreign Direct Investment (FDI) in Bangladesh hit a three-year high last year. Inflow rose by 12.9% to $2.9 billion — around the pre-pandemic level—which enable the nation to stay as the second most favoured destination in the subcontinent after India, according to the report released ...

Mango special train on C’nawabganj-Dhaka route begins today

Staff Reporter RAJSHAHI: The West Zone of Bangladesh Railway will launch a ‘special mango train’ on Chapainawabganj-Dhaka route via Rajshahi from today for the third consecutive time. “We have taken all sorts of preparations to launch the train from Monday for transporting mango to Dhaka from this mango producing area for the benefit of the growers and traders,” said Asim ...

Historic MoU signed for trading treasury bonds in 2 stock exchanges

Staff Reporter A memorandum of understanding (MOU) was signed to pave the way for treasury bond trading in the two stock exchanges of Bangladesh. Bangladesh Bank (BB), Bangladesh Securities and Exchange Commission (BSEC), Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and Central Depository Bangladesh Limited (CDBL) entered into the deal on Sunday. It was a historic moment in the ...

Rosatom delivers the new model of nuclear fuel to India

Business Desk Russia has supplied India with a new model of nuclear fuel which has a six-month longer fuel cycle. Russia’s TVEL Fuel Company recently delivered the first batches of TVS-2M nuclear fuel to India for the two functioning units-1 and 2 of Kudankulam Nuclear Power Plant. These units are powered by Russian VVER-1000 reactors. TVEL Fuel Company is the ...