Finance News: Latest Financial News, Finance News today in Bangladesh

Alliance completes 88pc garment factory remediation work

Some 88 per cent of the factory remediation work has been complete across all active garment factories in the country as the Alliance continues its efforts to improve safety of workers in the country's readymade garment (RMG) sector, its Executive Director Jim Moriarty said on Thursday."As of Thursday, 322 Alliance-affiliated...

Butterfly to assemble LG TVs in country

Butterfly Industries Ltd. in collaboration with South Korean electronics giant LG inaugurated its first-ever television manufacturing plant in the country on Thursday.The inaugural ceremony was held on the factory premises at Bhaluka upazila in Mymensingh.Trade Representative at the South Korean Embassy in Bangladesh Jong Won Kim, Butterfly Group chairman MA...

OMS draws mixed response

The ongoing OMS programme has yet to draw a significant number of customers in the city due to wrong selection of spots by the dealers and poor quality of rice, according to market observers. They also said absence of proper campaign on open market sale (OMS) has also prompted the...

Thrust on tariff rationalisation for export diversification

Participants at a workshop on Thursday stressed the need for tariff rationalisation in order to effectively diversify the country's export basket. The workshop titled 'Tariff Modernisation for Export Diversification' was jointly organised by the National Board of Revenue (NBR) and the World Bank Group in the city, according to a...

TraumaLink, Anwar Hossain Foundation sign agreement

Alhaj Anwar Hossain Foundation, an organisation of Anwar Group of Industries, signed an agreement with TraumaLink on its 'Platinum Membership Package' on Tuesday, says a statement. The agreement was signed at the Anwar Group head office at Motijheel in the city. TraumaLink is a volunteer-based emergency response system providing free...

China calls for revocation of US tariff decision

BEIJING, Mar 15: The US tariffs on steel and aluminum imports are, in essence, a kind of trade protectionism in the guise of national security, Chinese Ministry of Commerce said, expressing China's firm opposition to its decision.The statement came after the US President Donald Trump signed proclamations to impose hefty...

Export earnings from RMG increases 8.3pc

Export earnings from the Readymade Garment (RMG) increased by 8.3 per cent or US$ 584.87 million in October to December quarter of 2017, compared to the corresponding quarter of previous year 2016, reports BSS."Contribution of RMG sector in the country's export earnings is increasing day by day as the government...

‘Fourth industrial revolution to be software-based’

Industries Minister Amir Hossain Amu has said the fourth industrial revolution will be a software-based strong revolution as almost all countries in the world are banking on modern technology and renewable energy in the field of production for reaping benefits from the third industrial revolution."In future, most of the transactions...

Bangladesh ups cotton import from India

MUMBAI, March 15 (Reuters): India's cotton exports have been gathering pace after global prices jumped to four-year highs, with traders in the world's top producer of the fibre signing contracts in the last three weeks to ship over 1 million bales, industry officials told Reuters.Increased supply from India could drag...

South Korea to propose $3.8b extra budget

SEOUL, Mar 15 (Reuters): South Korea said on Thursday it would propose a four trillion won (US $3.8 billion) supplementary budget and boost business subsidies to help cut the country's high youth unemployment, which it sees reaching a dangerous level.Youth unemployment in South Korea hit record levels last year. By...

Regulators raid Amazon Japan on suspicion of anti-trust violation

TOKYO, Mar 15 (Reuters): Amazon Japan said on Thursday it had been raided by the country's fair trade regulator on suspicion of a possible anti-trust violation.An Amazon Japan spokesperson told Reuters it was fully cooperating with the Fair Trade Commission but declined to elaborate or comment on details about the...

Trade war may cause tangible economic damage: Germany

BERLIN, Mar 15 (Reuters): US import tariffs on metals should have a limited effect on a global recovery, but any escalation into a full-blown trade war and related growing uncertainty could cause tangible damage, the German economy ministry said on Thursday."The German economic upswing is continuing at the beginning of...

S Korean steel co to suspend exports to US

SEOUL, Mar 15 (Reuters): South Korea's Dongkuk Steel said on Thursday that it would temporarily halt its April exports to United States as the country tries to win exemptions from U.S. steel tariffs.A company spokesman said the steelmaker put on hold its exports for April, while South Korean government has...

Indonesia posts trade deficit for 3rd month

JAKARTA, Mar 15 (Reuters): Indonesia posted a trade deficit for the third straight month in February as imports continued to surge faster than exports, the statistics bureau said on Thursday. Southeast Asia's largest economy had a deficit of $110 million in February, not far off the $130 million deficit forecast...

News in Brief-(16-03-2018)

Delhi will discusssubsidies issue with WashingtonNEW DELHI, Mar 15: India will engage with the United States to discuss its concerns on India's export subsidies and respond within 60 days, the federal trade secretary said on Wednesday. The United States on Wednesday launched a challenge to Indian export subsidies at the...