BD eyes settlement in $ 66m cyber heist
An Ecuadorian bank and Wells Fargo have reached an out-of-court settlement over a 2015 cyber heist, providing a possible precedent for the Bangladesh central bank’s planned suit to recover $66 million still lost in one of the world’s biggest such cases.
A suit by Ecuador’s Banco del Austro against Wells Fargo & Co (WFC.N) was quietly settled in February, less than a month before a trial date was set, and the U.S. district court in Manhattan sealed all discussions, according to court documents. No other major media has reported the settlement.
Fast fashion industry at risk from bank trouble
Fast fashion is at risk of hitting a speed bump if a looming crisis sweeps through Bangladesh’s banking sector.
Financial institutions in the south Asian nation face a credit crunch following mass deposit withdrawals in March and soaring levels of non-performing loans.
Analysts and investors fear a full-blown crisis could spill over into Bangladesh’s strongest link to the global economy — the production of textiles and ready-made garments for fast fashion brands and retailers such as H&M, American Eagle Outfitters, Zara, Walmart and Target.
“Although the loan book composition across commercial banks in Bangladesh tends to vary ![]()
Azim Group Global Steel launched
Azim Group, a multi-national garments holding company based in Bangladesh, recently has launched an enterprise- ‘Global Steel and Engineering Limited’ at Shailabil, Paruhala, Dhamrai, Dhaka. With the launch of the enterprise, Azim group sets its footprint into the steel industry.
Azim Group is one of the pioneers in garments industry of Bangladesh. It has been exporting readymade garments to various markets of the world including USA, Europe, South America, Russia, Japan, China and Australia.
To step into anothe...
To step into anothe...
NBR to organize ‘Halkhata’ on April 14
National Board of Revenue (NBR) will organise 'Halkhata Day' marking Pahela Baishakh, the first day of Bengali New Year.
"As April 14 is a public holiday, the NBR will begin its Bengali New Year celebration programme the next day (April 15)," NBR Chairman Mosharraf Hossain Bhuiyan told journalists at his office here on Tuesday, reports BSS.
NBR is going to organize 'Halkhata Day' for the second time as it first observed day last...
Capital market to be in good position: Muhith
Finance Minister AMA Muhith today said the country’s capital market will go in a good position a few years and play a vital role to expedite investment by arranging necessary financing for the entrepreneurs, reports BSS.
“There are no scopes for large ups and downs in the capital market now as the government is 
working to develop the market. We have taken different reforms initiatives to take the capital market in a stable position,” he said while addressing a dividend handover ceremony of the Investment Corporation of B...
working to develop the market. We have taken different reforms initiatives to take the capital market in a stable position,” he said while addressing a dividend handover ceremony of the Investment Corporation of B...
Spl facilities for local auto manufacturers, assembles
The National Board of Revenue (NBR) has announced to give local automobile manufacturers and assemblers special facilities in the upcoming budget for fiscal year 2018-19 (FY19).
“NBR will give the local automobile manufacturers and assemblers special facilities as our main target is to discourage imports of automobiles to create jobs in the country,” said NBR chairman Md Mosharraf Hossain Bhuiyan while speaking at a pre-budget meeting with Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) here today, reports BSS.
