Business Views & Comments

Bus Rapid Transit project from Airport to Mohakhali under consideration: Kamal

Staff Reporter Construction of Bus Rapid Transit from Hazrat Shahjalal International Airport to Mohakhali is under consideration of the government. Finance Minister AHM Mustafa Kamal informed this in his budget speech in parliament on Thursday. Giving a description on mega projects, he said the construction of 46.73 km Elevated Expressway from Hazrat Shahjalal International Airport to Kutubkhali on Dhaka-Chittagong Highway ...

Keeping foreign reserves stable would be a great challenge: Kamal

Staff Reporter Finance Minister AHM Mustafa Kamal today said maintaining imports at a reasonable volume and keeping foreign reserves stable would be a great challenge in fiscal year 2022-23 (FY23) due mainly to a stress on the exchange rate originating from the increased demand for US dollar in the local market. In his budget speech in the Jatiya Sangsad Kamal ...

BIMSTEC celebrates its 25th anniversary

Diplomatic Correspondent The Secretariat of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) in Dhaka celebrated the 25th Anniversary of the regional organisation on BIMSTEC Day. The celebration included a flag hoisting ceremony in the morning of June 6 at the Secretariat, and an Official Reception at the Dhaka Sheraton in the evening. Foreign Minister AK ...

Australia hikes interest rates to rein in inflation

International Desk Australia’s central bank raised interest rates more than expected Tuesday and warned of more increases as officials try to rein in “significantly” high inflation. Governor Philip Lowe said the Reserve Bank’s main lending rate would go up half a percentage point to 0.85 percent, surprising analysts who had tipped a quarter point lift. He also said “extraordinary” support ...

Bangladesh Gas, Oil and Mineral resources Corporation Bill, 2022 placed in JS

Staff Reporter Bangladesh Gas, Oil and Mineral resources Corporation Bill, 2022 was placed in the parliament on Sunday aiming to establish a corporation for implementing action plan, development projects and further development of the sector. The bill, placed by State Minister for Power, Energy and Mineral Resources Nasrul Hamid, was later sent to the parliamentary Standing Committee on the Ministry ...

SBAC Bank opens TanBazar Sub-Branch at Narayanganj

Staff Reporter Tan Bazar Sub-branch of South Bangla Agriculture and Commerce Bank Ltd. was inaugurated at Tan Bazar, Narayanganj on Sunday (5 June) Mr. Mosleh Uddin Ahmed Managing Director and CEO of SBAC Bank was present as the Chief Guest. Mr. M Shamsul Arefin, Additional Managing Director of the Bank presided over the inaugural ceremony. Mr. Md. Nurul Azim, Deputy ...

Tea production increasing by 5 percent each year: Commerce Minister

Staff Reporter Commerce Minister Tipu Munshi on Saturday said quality tea production is increasing by 4 to 5 percent each year in the country. Despite this increase, Bangladesh’s tea export is not increasing in line with the production as domestic consumption of tea increased with the purchasing ability of people, he said. People in the rural areas are also accustomed ...

‘Super bad feeling’ about economy: Elon Musk warns of Tesla job cuts

Business Desk San Francisco: Tesla CEO Elon Musk has a “super bad feeling” about the economy and wants to cut about 10% of jobs at the electric carmaker, he said in an email to executives seen by Reuters. The message came two days after the world’s richest man told employees to return to the workplace or leave the company. Tesla ...

World Bank/S&P rank Colombo as most efficient port in South Asia

Online Desk The Port of Colombo has been ranked as the most efficient port in South Asia and the Indian Sub-Continent, third in the Indian Ocean rim and 22nd among 370 ports globally, in the second edition of the Global Container Port Performance Index (CPPI) 2021, ranking developed by the World Bank and S&P Global Market Intelligence and Financial Services. ...

BERC decides to reduce 12kg LPG cylinder price by Tk 93

Staff Reporter Bangladesh Energy Regulatory Commission (BERC) has decided to reduce Tk 93 of a 12-kg LPG cylinder at consumer level. As a result, the price of a 12-kg cylinder stands at Tk 1,242 from Tk 1,335. BERC chairman Abdul Jalil came up with the declaration on Thursday afternoon. The new price will come into effect from 6:00pm today.