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Wholesalers Blame Retailers PDF Print E-mail
Saturday, 25 December 2010

ONION PRICE HIKE

Retailers have held the wholesalers responsible for the sudden rise in onion price.

The government however thinks that India's ban on onion export has influenced the market which will take sometime to stabilise.

In local markets, price of onion suddenly shoot by Tk 20 per kg in last three days following the price increase in India.

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Prices Fixed For 15 Days PDF Print E-mail
Wednesday, 22 December 2010

EDIBLE OIL

The government has fixed the prices of edible oil for the second time in a month.

The prices, set for the next 15 days, will come into effect on Thursday, said A K Azad, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), on Wednesday.

He said unpacked soybean oil price for other places than greater Chittagong has been fixed at Tk 90 per litre, while Tk 89 for Chittagong.

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Beximco Pharma Entering US Market PDF Print E-mail
Saturday, 04 December 2010

Beximco Pharmaceuticals has joined forces with an American company to launch four drugs in the US market in the next three years.

Beximco Pharma recently signed a strategic manufacturing, supply, and product development agreement with Adamis Pharmaceuticals and the companies plan to introduce four generic respiratory drug formulations.
The two companies will co-develop certain generic formulations, some of which Beximco currently produces for the European market.

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Revenue up in First Four Months of Fiscal PDF Print E-mail
Monday, 29 November 2010

Revenue collection in the first four month of the current fiscal (2009-2010) was up by 25.74 percent, in comparison to last year.

Moreover, 109.26 percent of the revenue target was achieved.

The figures were revealed in a National Board of Revenue (NBR) press conference, by NBR chairman Nasiruddin Ahmed on Monday.

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Sharp Rise in Spice Price PDF Print E-mail
Saturday, 13 November 2010

Prices of spices have gone up ahead of the Eid-ul-Azha festival.

Spices like cardamom, mace and cumin have become particularly dearer, selling at 100 to 1000 a kg in the last 15 days.

According to Dulal Mia, a spice vendor in Keraniganj, 100gm cardamom is selling at Tk 150 which sold at Tk 125 two weeks ago, 100gm cumin at Tk 50 which was Tk 35 and 100gm mace at Tk 250, which was Tk 150.

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Anti-Transit Campaigners are Fools: Muhith PDF Print E-mail
Tuesday, 02 November 2010

Finance minister A M A Muhith said Bangladesh is geographically a transit country and those who deny it are fools.

Talking to reporters after attending a meeting with an International Monetary Fund (IMF) on Tuesday, the minister also vowed to give transit facilities to other countries.

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Govt Resume Fair Price Sale of Rice among Ultra-Poor PDF Print E-mail
Monday, 01 November 2010

The government on Monday resumed sales of rice through fair price cards to help ease the cost of living of hardcore poor across the country.

Rice will be sold at Tk 24 per kg from 8am to 8pm six days a week through the month of November, food minister Abdur Razzaque said.

The minister on Sunday revealed the price at a press conference at his secretariat office.

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Govt Plans to Export 400,000 People PDF Print E-mail
Sunday, 31 October 2010


The government has fixed a target to send 400,000 labourers abroad this year.

Expatriates' Welfare and Overseas Employment secretary Zafar Ahmed on Sunday said told a workshop on safe immigration in Dhaka that last year about 475,000 Bangladeshis immigrated with job. This year the target was cut down to 400,000 due to global recession and other problems.

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Deal on Rental Power Plant Signed PDF Print E-mail
Thursday, 28 October 2010

The government has signed a deal with a private company that would allow it to start buying electricity within three months. The gas-fired plant, with a capacity of 78.5MW, will be installed at Ghorashal in Narsinghdi.

Bangladesh Power Development Board and private contractor Max Power Limited signed the deal at the Bidyut Bhaban on Wednesday. BPDB acting secretary Mohammad Iskander Ali and chairman of the company Ghulam M Alamgir signed for the respective organisations.

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India to Lift Duty on 61 Items PDF Print E-mail
Wednesday, 27 October 2010

Delhi has assured Dhaka of exempting some Bangladesh products from import duty. Commerce minister Faruk Khan said that as a result, 61 items including textiles and leather goods will be exempted from taxes for entry into India.

Speaking at a press meet at the Secretariat on Tuesday, the minister said that he had held talks with his Indian counterpart Ananda Sharma and that he had urged for removal of 61 items from the 'negative' list.

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Price of Commercially Produced Power by December PDF Print E-mail
Tuesday, 26 October 2010

DHAKA: The government is going to introduce for the first time an indicative price of the commercially produced electricity from captive power plants by December to encourage the private entrepreneurs to invest in the power-hungry sector.

Chairman of Bangladesh Energy Regulatory Commission (BERC) Syed Yusuf Hossain Monday disclosed the move after a meeting held in the conference room of BERC in the city.  The meeting discussed the draft proposal on fixing the rates of the electricity from the commercially set-up captive power plants.

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Sonali Bank Issue Trading Halts for 40mins PDF Print E-mail
Monday, 25 October 2010

Trading at the at the Sonali Banks' stock brokerage house suffered a setback for 40 minutes due to a technical glitch.

Investors at the brokerage house complained that trading came to a halt around noon when the brokerage house lost connection with its main server.

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Quomi Jute Mill to Reopen PDF Print E-mail
Friday, 22 October 2010

Sirajganj Quomi Jute Mill, the largest state-owned jute mill of northern Bangladesh, will reopen in November.

The prime minister is set to inaugurate the mill within the first week of November, Gazi Shafiqul Islam, member of jute ministry's parliamentary committee and Sirajganj Ullapara MP, told bdnews24.com on Thursday.

Nurul Islam, project coordinator for the mill, told bdnews24.com that almost 5,000 people will get jobs if the mill is restored.

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China Must Boost Spending for Growth PDF Print E-mail
Monday, 18 October 2010

China must invest in welfare and housing so workers and farmers provide the spending for sustained growth, a top economic planner said in a report on Monday, while Communist Party chiefs drew up a long-term development blueprint.

The Chinese economy is set to grow by about 50 percent to $7.5 trillion by 2015, powering past Japan and moving closer to the biggest economy, the United States. But a meeting of the party's Central Committee, ending on Monday, has dwelt on domestic imbalances that could drag down that ascent.

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World Stocks Hit 5-Month High After Fed PDF Print E-mail
Wednesday, 13 October 2010

World stocks hit a five-month high on Wednesday while emerging market equities held near a recent 27-month peak, driven by expectations of more money printing in the United States and upbeat corporate reports.

Minutes from the Federal Reserve's September meeting showed officials discussed the possibility of buying more longer-term US government debt to drive borrowing costs lower and ways to nudge the public into expecting higher levels of inflation in the future to spur spending.

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N'ganj Port to be of Int'l Standard PDF Print E-mail
Wednesday, 06 October 2010

The government has planned to develop the Narayanganj river port to an international standard container port, the shipping minister has said.

Shajahan Khan said on Tuesday: "In line with the agreements with India, Chittagong and Mongla seaports and Narayanganj and Patuakhali river ports are underway to be developed."

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Deals for 25 Power Plants in 6 Months PDF Print E-mail
Monday, 04 October 2010

The government has planed to sign contracts within the next six months to construct 25 new power plants to meet the country's increasing power demands.

The cabinet was made aware of the plan in its Monday meeting, prime minister's spokesperson Abul Kalam Azad said.

He told journalists in a briefing after the meeting: "The government has planned to raise power generation by another 1000-1200MW by December to speedily address the growing demand. Twenty-seven projects are already underway."

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Decisions Agreed to Invigorate Ctg Port PDF Print E-mail
Tuesday, 28 September 2010

The Regulator of Chittagong seaport has decided to keep open its delivery order branch on weekend and other holidays and container supply gate up to 8pm every day to invigorate the port's activities.

Chittagong Port Authority made the decision at a meeting with the port users on Monday, its chairman RU Ahmed said at a press briefing.

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Foreign Aid Needs Better Scrutiny PDF Print E-mail
Tuesday, 21 September 2010

Foreign loan should be received in such a way so that no harm is caused to the country, economist Qazi Kholiquzzaman has said.

He made the comment on Monday while speaking at a discussion at the auditorium of Centre for Integrated Rural Development for Asia and the Pacific at Topkhana Road in the city.

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Muhith Urges NRB Investment under PPP PDF Print E-mail
Sunday, 19 September 2010

Finance minister AMA Muhith has urged the expatriates to invest in different sectors of Bangladesh under his much vaunted Public Private Partnership (PPP) scheme.

Muhith was addressing a meeting with the expatriates in London, England on Saturday.

"We are currently stressing on PPP for the country's development," the finance minister said.

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Govt Going for Big Rice, Wheat Import PDF Print E-mail
Tuesday, 14 September 2010

The government will buy 180,000 tonnes of rice and wheat at a cost of around Tk 4.4 billion this fiscal year.

The decision on import came from a meeting of the cabinet committee on purchase at the Secretariat on Monday, which finance minister AMA Muhith presided over.

Cabinet Division joint secretary Nurul Karim said the import will cost around Tk 4.4 billion.

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