Business

Rawhide processing remains a challenge

  

Pns: With the Eid-ul-Azha only a few days away, tanners are worried about processing and preservation of the several lakh pieces of rawhide that will be collected in the season. Tannery owners have set a target to procure about 80 lakh pieces of rawhide during this Eid-ul-Azha. But out of the total 154 tanneries, only 23 are functioning fully and 47 partially at the Saver tannery village as construction work is yet to be completed in these factories. This would make processing of the large...

Facebook to reject ads from pages touting 'fake news

  

Pns: Facebook on Monday said that pages that make a habit of linking to bogus news stories will no longer be able to advertise at the world's leading online social network. The move is the latest shot fired by Facebook in its war against 'fake news' used to deceive instead of enlighten."If Pages repeatedly share stories marked as false, these repeat offenders will no longer be allowed to advertise on Facebook," product managers Tessa Lyons and Satwik Shukla said in a blog...

World Bank to give $515m for improving health services

  

Pns: The government today signed a $515 million financing agreement with the World Bank (WB) to improve the country's health, nutrition, and population services. The Health Sector Support Project will contribute to the government's fourth health sector program, and support strengthening the country's health system, improving quality and coverage of essential services, and enhancing equity, in particular through a focus on service improvements in Sylhet and Chittagong divisions,...

LNG import to minimize gas shortage: Tofail

  

Pns: Commerce Minister Tofail Ahmed on Sunday said country will not face any gas shortage once the Liquefied Natural Gas (LNG) import from Qatar is started. "The import will begin after the construction of LNG terminal in 2018," he said after having a meeting with Qatar Ambassador in Dhaka Ahmed Mohamed Al-Dehimi at his ministry office. Qatar is one of the leading LNG exporting nations and Bangladesh has already signed MoU with the country for importing LNG to meet gas shortage....

Some banks responsible for NPL: Muhith

  

Pns: Finance Minister AMA Muhith on Saturday said some banks are responsible for the growing non-performing loan (NPL) which is becoming a matter of concern in the banking sector. "Some banks think that if the clients can be made defaulters, they can be brought under the grip of the banks", he said while speaking as the chief guest at a programme on the problems and solutions for banking sector at the Centre on Integrated Rural Development for Asia and the Pacific (CIRDAP) auditorium...

‘Poverty level declines’

  

Pns: Some 25 lakh households in Bangladesh live in extreme poverty, according to a non-government development organization, reports UNB. Bangladesh has reduced its poverty level to 27 per cent but the challenge of extreme poverty still remains and women are disproportionately affected, the organisation said in its Annual Report 2016. Pockets of extreme poverty are particularly prevalent in the hard-to-reach regions where often entire communities lack access to basic services and...

Germany books record budget surplus in first half

  

Pns: Germany notched up a record budget surplus between January and June, official figures showed Friday, as Europe's largest economy continued to grow strongly. All the levels of government -- federal, regional and municipal -- combined took in 18.3 billion euros ($21.6 billion) more than they spent, data from federal statistics authority Destatis showed.Government revenue from taxes, social contributions and other sources amounted to 724 billion euros, a 4.3-percent increase on...

Stocks close week up on large-cap vibe

  

Pns: Stocks ended the week on Thursday upward with rising trend of major price indices at Dhaka and Chittagong Stock Exchanges on higher activities of large-cap securities. The broader DSEX of Dhaka Stock Exchange (DSE) closed the week with 24.31 points up at 5,861.12. The blue-chip DS30 and Shariah DSES also followed the same trend with 2.25 points up at 2,111.34 and with 1.44 points up at 1,305.62.The daily average trade value at DSE was 2.1 percent up at Taka 832.85 crore....

EU sees Bangladesh’s continuous success in economic, social, political areas

  

Pns: Outgoing European Union (EU) Ambassador to Bangladesh Pierre Mayaudon on Wednesday said Bangladesh will continue its success in all areas of economic, social and political landscapes. The Head of the EU Delegation also expressed optimism that the next general election will be free, fair and inclusive, and conveyed EU's readiness to send Election Observer Mission for that election.He made the remarks during his meeting with State Minister for Foreign Affairs Md Shahriar Alam...

Central bank eases financing process

  

Pns: Bangladesh Bank (BB) has eased the process of issuing repayment guarantee for facilitating import of industrial raw materials, reports BSS. “To facilitate short term import finance, it has been decided that the authorised dealers (ADs) may, on behalf of industrial importers, issue repayment bank guarantees without BB’s approval,” the central bank said in a circular yesterday.A repayment bank guarantee is a promise to cover a loss if a borrower defaults on a loan.BB,...

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