Retailers wrestle with mountain of unsold stock

by Fintech Desk - June 3, 2020June 3, 2020

Reuters, Madrid Forget fast or slow fashion, now it's ground to a halt. A mountain of apparel stock has been piling up in stores, distribution centers, warehouses and even shipping containers during months of COVID-19 lockdowns. As retailers reopen around the world, they have to work out how to get rid

Community Bank holds its 14th BM

by Fintech Desk - June 3, 2020

Community Bank Bangladesh (CBB) held its 14th Board Meeting at the Police Headquarters in Dhaka recently. Important decisions regarding the business operation and policies of the bank were taken at the meeting that was chaired by Inspector General of Bangladesh Police and Chairman of Community Bank Bangladesh Limited Dr Benazir Ahmed BPM (Bar). Among the

BB instructs no penalty fee for late deposit payment

Economy

by Fintech Desk - June 3, 2020June 3, 2020

The Bangladesh Bank (BB) has recently made instructions to all banks not to charge any penalty fee on its DPS and other deposit scheme customers for late payment in April and May amid the Covid-19 pandemic. Issued a circular on May 31, BB also instructed banks not to close any DPS or

Mobile phone use might get costlier

by Anonno Razzak - June 2, 2020June 2, 2020

Direct tax on mobile phone use 15% VAT imposed on FY16 3% supplementary duty imposed on FY16 1% surcharge imposed on FY15 SD increased in FY20 The cost of talking on mobile phone may increase from this month as the supplementary duty on phone talks likely to be increased in next budget. This

Covid 19: ADB provides $231,178 grant

Economy

by Fintech Desk - May 31, 2020May 31, 2020

The Asian Development Bank (ADB) is providing $231,178 grant to boost novel coronavirus disease related facilities in 134 urban primary health centres, also called Nogor Swastho Kendro, around the country. The health centres are providing primary healthcare services to the urban poor under the ADB-supported Urban Primary Health Care Services Delivery

BEZA provides food assistance to to 7000 workers’ families

by Fintech Desk - May 29, 2020

Bangladesh Economic Zones Authority (BEZA) is providing food assistance to some 7,000 families whose livelihoods were affected by the prolonged nationwide shutdown due to the coronavirus outbreak. Those people work at different ongoing economic zones and became jobless on a temporary basis due to suspension of development activities at the sites of various

Mukesh Ambani raises more than $10 Billion in a month

by Fintech Desk - May 25, 2020May 25, 2020

Megha Bahree U.S. private equity giant KKR & Co. has become the latest global firm to buy a piece of Jio Platforms, the telecom and digital business of Indian billionaire Mukesh Ambani. KKR is paying 113.7 billion rupees ($1.5 billion) for a 2.3% stake in Jio, becoming its fifth investor in a

Managing personal finances during COVID-19

Economy

by Guest Writer - May 15, 2020May 15, 2020

H.M. Tarikul Kamrul In a lazy afternoon, Mr. Ashraf is lying on his bed by the window and enjoying the rain outside. He is thinking of the mischief he has to face of commuting back from workplace to home, in such a heavy rainy day. However, it’s not a challenge

Rupali Bank disburses interest-free agri credit

Economy

by Faisal Mahmud - March 24, 2020March 24, 2020

Rupali Bank Limited has been disbursing interest-free credit among the poor farmers marking the birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman. The state-owned commercial bank has started disbursing agricultural credit among the marginal tomato farmers from January 1 this year under the ‘Zero Coupon Lending Programme’. The Bank

Mixed bag for financial sector in 2019

Economy

by Faisal Mahmud - January 14, 2020

Robust economic reforms, remittances received from expats, boost in exports, and the vision of the leadership are major factors behind the turnaround of Bangladesh's economy in the last one year. Even in the face of a global recession, the country has recorded an estimated 8.1 per cent GDP growth in 2019. Bangladesh