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Chittagong industries to get imported gas from early 2018: Secy

Chittagong Live: The government will start providing imported gas to the industries in Chittagong region from the 1st half of the next year while those in Dhaka region will get gas gradually afterwards. Energy Secretary Nazimuddin Chowdhury disclosed the plan on Wednesday while addressing a seminar at the Petrobangla auditorium on the occasion of the National Energy... details

‘Everyone’s corrupted’

Business Live: The country is completely overwhelmed by corruption, said Finance Minister AMA Muhith.   “Corruption is there in our blood because everyone engages in some form of it,” the minister said. He was addressing the inaugural session of the Anti-Corruption Commission’s (ACC) hotline service at its head office in Dhaka. “There was no corruption culture in... details

Kamal seeks support from developed countries to fight climate change

  Live Correspondent:  Planning Minister AHM Mustafa Kamal urged the developed countries to come forward and support the vulnerable countries to combat the perils of climate change, said a UN release received here today. "The developed countries have to come forward and support the climate vulnerable countries particularly in forms of financing, innovative solutions and technology... details

Amazon to adapt Agatha Christie novels as TV series

    Business Live: The Amazon streaming service has added a series of adaptations from Agatha Christie Limited to its lineup of original dramas. The U.S. partnership will kick off with “Ordeal By Innocence,” which is already in production across the pond, and stars Bill Nighy, Alice Eve, Ella Purnell, Matthew Goode, Catherine Keener, Ed Westwick, Luke Treadaway, Eleanor... details

HC upholds Jail term for Jamuna Bank ex-chairman

   Business Live: The High Court has upheld a lower court’s order for a one year jail term for former chairman of state-owned Jamuna Bank Arifur Rahman in a 2012 case over bank-check frauds. Rahman signed checks to repay Tk 150 million in loans taken from Borak Real Estate in 2012 which bounced due to insufficient balance, according to case details. The case was started by the... details

Cabinet ministers back Muhith over budget criticism

    Live Correspondent:  After harsh criticism from several ministers over the newly proposed budget, Cabinet members Amir Hossain Amu and Hasanul Huq Inu have spoken up for the finance minister in parliament. Earlier on Wednesday, Commerce Minister Tofail Ahmed took a swipe at ministers for making harsh remarks on AMA Muhith. On Thursday, Amu and Inu took side for the... details

More than 2 lac loan defaulters in the country

      Live Correspondent: Finance MInsiter AMA Muhith on Tuesday said that the number number of loan-defaulting persons and companies in Bangladesh is now 202,623. The finance minister while speaking in the parliament however, did not disclose how much money they owe to the banks. Defaults stood at Tk 734.09 billion until March, which is 10.53% of the total... details

Amazon deal slams retailers as Dow edges to record

  Live Desk:  Food and retail stocks floundered Friday on news of Amazon's takeover of Whole Foods Market, but the Dow edged to a fresh record on gains in energy shares. Investors smiled on the two parties in Amazon's $13.7 billion purchase of Whole Foods, sending Whole Foods' stock up 29.1 percent and Amazon 2.4 percent higher. But the market punished other retailers, including... details

Nike to cut 1,400 jobs in reorganization

  Live Desk:  Sports apparel and footwear giant Nike will cut about 1,400 jobs, part of a plan to expand direct selling to consumers as e-commerce roils the retail sector, the company announced Thursday. Nike said it would cut about two percent of its global workforce as it implements the "Consumer Direct offense," a reorganization initiative that targets customers in 12 key... details

Leather production increased 13.16% last 3 FY

    Business Live: Leather production in the country has increased to 13.16 percent during the last three fiscal (FY). During the time, the industry has produced 4,76,23,060 pieces of leather. While replying to a stared question from treasury bench member M Abul Kalam of Natore-1 in the Jatiya Sangsad on Tuesday, Fisheries and Livestock Minister Mohammad Sayedul Haque said,... details

Govt signs $616 m loan deals with ADB to improve power supply

      Business Live: The government and the Asian Development Bank (ADB) on Monday signed agreements for $616 million in loans to enhance the coverage and reliability of the country’s power system and improving the efficiency of the distribution network. Economic Relations Division (ERD) Secretary Kazi Shofiqul Azam and Kazuhiko Higuchi, Country Director of ADB,... details

UCB gets new Chairman, Vice-chairman

  Business Live: Young woman entrepreneur and Managing Director of Aramit Group Rukhmila Zaman has been elected Chairman of United Commercial Bank Limited (UCB) in an emergency board meeting. The meeting was held after the 34th Annual General Meeting (AGM) on Thursday at the corporate office of the UCB, said a press release. The meeting elected notable industrialist, one of the... details

Muhith hints 30pc revenue growth target for FY18

Live Correspondent: Finance Minister AMA Muhith today hinted at increasing the revenue growth target to 30 percent in the upcoming 2017-18 financial year (FY18). "We are going to give several pushes this year. We will increase the revenue growth up to 30 percent," he said while addressing a pre-budget meeting with editors and managing directors or chief executive officers (CEO) of... details