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Marico profits slip amid volatility

The continuing political volatility is taking a heavy toll on the sales of Marico Bangladesh, as the violence is creating obstacles in sending its products to different parts of the country, said Aditya Shome, managing director of the company. “The political turmoil is hurting our distribution network. The movement of goods to remote places has definitely become a challenge with certain pockets in the country being completely inaccessible.” violance BDThe fresh wave of political chaos since January 5 has also made it difficult for the...

Global wealth flowing to the richest: Study    

The richest one percent are likely to control more than half of the globe’s total wealth by next year, the charity Oxfam reported in a study released on Monday. The warning about deepening global inequality comes just as the world’s business elite prepare to meet this week at the annual World Economic Forum in Davos, Switzerland, reports The New York Times. rich-peopleUnless things change, by 2016 wealth of the top 1% will exceed that of the rest of the world. The 80 wealthiest people in the world altogether own $1.9 trillion, the re...

PM opens Bibiyana gas extension project

Voicing her high hope to produce more than 20,000 megawatts of power by 2021, Prime Minister Sheikh Hasina today inaugurated the much-awaited Bibiyana Gas Field Extension Project and the newly constructed Bibiyana-Dhanua Gas Distribution Transmission line. Hasina formally opened the projects through unveiling the plaques at Nabiganj Bibiyana Gas Field Area in the district. [caption id="attachment_10836" align="alignleft" width="300"]hasina-habiganj-rally-wb3 Prime Minister Sheikh Hasina inaugurates various developme...

India jute millers mull anti-dumping case against imports from BD

With the Bangladesh government announcing incentives for jute exports from that country to India, manufacturers here, under the aegis of the Indian Jute Mills Association (IJMA), are planning to file an anti-dumping case against such exports. Sanjay Kajaria, former chairman and committee member, IJMA, said the fact that the Bangladesh government has been subsiding exports to India was hurting the Indian market. jute goodsBetween April and August this year, the import of jute yarn and twine increased 65 per cent year-on-year, jute bags 28 per cent...

Samoa interested to explore business in Bangladesh

lv345f345_54072161690c1Prime Minister of Samoa Tuilaepa Aiono Sailele Malielegaoi has expressed interest to explore possible cooperation with Bangladesh in the areas of agriculture and RMG.

He conveyed it when State Minister for Foreign Affairs M Shahriar Alam met him on the sidelines of the third UN Conference on Small Island Developing States held in Apia, the capital city of Samoa, on Wednesday, said a Foreign Ministry media release.

Forex reserve reaches all-time high $ 21b  

The country’s foreign exchange reserve has hit a new height setting a record of over $21 billion riding on the positive remittance inflow and increased export earnings. Forex-res1The reserve stood at $ 21.04 billion at the end of the day on Monday, which is the highest in the country’s history, Bangladesh Bank General Manager AFM Asaduzzaman told UNB. He said the rising trend of foreign exchange reserve was due to the increasing trend of export earnings as well as firm management of reserve by the central bank alongside decline in import costs. ...