Crops under water

Losses of standing crops feared in Rangpur, Gaibandha

With very little improvement in the flood situation, farmers are living on growing anxiety of huge losses as 1.29 lakh hectares of land have gone under water in 5 districts in the Rangpur region. Crops which remain in flood waters are Transplanted Aman (T-Aman) on 1.25 lakh hectares, Aman seedbed on 205 hectares, vegetables on 3,159 hectares, banana on 83 hectares and ginger on 5 hectares of land.

T-Aman is affected in the areas of Rnagpur, Gaibandha, Kurigram, Lalmonirhat and Nilphamari in Rangpur, affecting 21.69 % of total T-aman land. Kurigram claims most of

Onion tensions

Soaring onion prices bring tears to commoners

To a new week and to the end of August, we see that commodity prices, particularly onion, with far better times, as it was doing quite well for consumers at Tk 50-55 per kg, in the third week of the month. Flood waters in the country has significantly affected staple food prices as they continue to soar, but onion had impacts from decisions outside the country, an Indian export price hike. Due to mostly panic hike here in Bangladesh, imported onion prices were Tk 65-70 per kg on Friday, which was even higher midweek.

Big expansion plans of Business and Industry through more Economic Zones

BEZA plans to generate one crore jobs in 15 years

Bangladesh Economic Zones Authority BEZA, shares its longer period vision to set up 100 economic zones within Bangladesh in the coming 15 years. Planned on 37 different locations, these are expected to create 1 crore jobs, bringing in $40 bn from increased exports, by 2030.

Bangladesh’s big apparel exporting rival, Vietnam has developed 200 of such in the past 15 years. Considering such achievement, BEZA believes we can do our bits and has already granted entrepreneurship licenses, while planning quick development of infrastructure.

Is it ok to start my business in Bangladesh, or should I look elsewhere?

Ease of Doing Business in Bangladesh

One of the most important features of a country is the fluidity of doing business, as it is business which promotes economic performance. Bangladesh as we perceive, has many extra-legal barriers to business operations, which is typically solved outside of the law. The World Bank Group maintains a Doing Business study for economies, which is an essential indicator of business performance.  For an economically aware individual, with intentions in business development, this is a great highlight of the current standings of Bangladesh in an international context.

In 2015, Bangladesh stands at 173, a 3 point drop from last year, while the Distance to Frontier (DTF), which is a comparison measure across economies at a best previous time, is at 46.8%. With 10 points of measure of doing business, “Starting a business” in

Businesses get online procedure portal National Single Window (NSW)

Online business process to be launched

Business has been a daunting profession from its initiation to day-to-day management and eventually maintaining revenues or a satisfactory profit margin. With every stages of different barriers whether valid or illegitimate, Bangladesh is quite some arena for doing business.

Today we look at a new facility that has been sanctioned by the government for ease of doing business. National Single Window (NSW) is a new system that allows businesses to participate in trade and transportation to apply for standardized documents and information with a single entry point for processing, online. This will cut out all the

The new business age of Viral Videos

What We Can Learn From Viral Video Marketing Successes

The economy and business…yes. A prime broadcaster of the important highlights and growth of the economy. Individuals who are aware of economy and business have a competitive edge to their professional life and to some extent social life as well. However, who cares about these things when there is Facebook, Instagram, Twitter, Youtube and all the other social media channels to keep ahead of, no?

Global Business fronts have recognized that and are acting on it. Gradually and currently to a substantial extent, so is Bangladesh. The recent uptake of social media in business is Viral video Marketing. From the start of the “ALS Ice Bucket challenge” and

Internet bytes: change for good, threats for not

GP offers EasyNet to build internet awareness

The new CMO of Grameen Phone, is endeavouring to reduce the barriers of national connectivity to increase internet penetration, by introducing “EasyNet” service. This provides knowledge and hands-on learning about Internet to anyone, targgetted naturally to the rural population. It provides video tutorials, free internet sites and small data packs, without a data subscription. This is a refreshing step by one of the leading telecom operator of the country, GP to reach those 7.5 lakh internet unaware people and progress towards towards the slogan “Internet for all”.

Mobile inter-operator tariff debate

Mobile operators divided over inter-connection charges

Airtel and Citycell is to your right, where they are seeking complete withdrawal of inter-connection fees, while to your left, Robi, Grameenphone and Banglalink is in disagreement with the proposal. They counter-pointed that operating lower than the current one of the world’s lowest tariff rates and Robi opting for an increase in minimum voice call price.

Startup Incubator spilling out more new business

Six more social businesses get green light

With the inception of the Social Business Design Lab of Grameen Bank in January 2013, a massive 1260 projects have been approved for investments, by the entrepreneurship wing of Dr Yunus run microfinance institution. Most of them are claimed to be already under operation.

To update the statistics, six new local entrepreneurs made their marks at the conclusion of the 92^nd Social Business Design Lab with over 150 participants in front of local as

Garments, looking feeblest in months

Garment exports suffer biggest fall in nine months

With our recent update last week on RMG sector’s positive steps, this week we notice less than satisfactory improvements in highlights. It seems political mood swings were to blame, where firms failed to secure enough order placements during the usual time between December and March, coinciding with last season’s political roller coaster.

Garment exports fell by 12.78% for the monthly target of July, with a year-on-year decline of 11.96%. RMG also scored subpar on the yearly target, earning $25.5 bn when the crosshair was on $26.9 bn. This was a mere 4% fiscal year growth.

Generalized System of Preferences (GSP): Bangladesh's inclusion a possibility or a non-necessity?

Focusing not on GSP but on building export capacities

Recently the US has renewed the system of duty or tax-free imports into its economy from 122 other countries, termed Generalized System of Preferences (GSP), but not Bangladesh. Although the US stated Bangladesh has made progress in fire and safety precautions, additional modifications are needed, especially labor rights and harassment issues, which must be under the direction of the ILO, EU and other international associates thereby adhering to Sustainability Compact act. Controversially, the issue may be entirely US political, where Sri Lanka sustaining many good conditions, are still out of GSP.

The GSP only affects non-apparel exports which are the preferences of the US.

Hi-Tech Park progressively planned in Gazipur

TechnoSity to invest $25.8m in hi-tech park

Bangladesh TechnoSity Limited a newly established Malaysia-Bangladesh joint venture has been issued the development of the 3^rd Block of the proposed high tech park in Kaliakoir in Gazipur. Investing $25.80m for infrastructure development, it will be increased by 10-12 times upon necessity. TechnoSity will create infrastructure in 40 acres of land and will

Upcoming biggest Trade Exhibition Center in Bangladesh

Ecnec approves largest trade exhibition centre project (Dhaka Tribune)

The National Economic Council (NEC) of Bangladesh is responsible for the proposals and approvals of all economic investment projects in the country and those public sector investments above a certain level.

Recently the Executive Committee of NEC (ECNEC) has approved the development of a massive permanent trade exhibition centre in Dhaka Purbachal area. Claimed to be the largest trade center in Bangladesh, it was approved to be started construction in June 2018.

RMG development charging ahead for Bangladesh

Govt to set up specialised bank for RMG sector (NewAge)

Our competitors are edging just ahead in the race, but Bangladesh is pushing up the competition to Vietnam, being ahead of India and Sri Lanka in absolute terms. This is what our RMG sector boasts in the first half, H1 of 2015, growing 9.47% to $2.68 billion from $2.45 billion last year’s corresponding period to the US market, however the growth being

Dhaka Stock Exchange titbits

DSE Weekly Review: Stocks regain momentum on investors' fresh buying (NewAge)

The stock market is an arena for life changing pathways. We all know at least one of relatives who are avidly in pursuit of the stock market news trying to make some secondary earnings source or making it their prior business.  For the economy, it is an important indicator of economic performance and growth, not to mention investment opportunities in the most lucrative industries in the economy. It gets the savings rolling into the economy through, albeit risky,
but