Stability in supply-chain management seen worldwide, including Bangladesh, despite covid-19

02/08/2021 | | Finance

Summary: To the surprise of many research scientists, focus on the social issues increased despite the fact that many companies had to retool supply chains and many struggled simply to remain in business in the lockdown. Bangladeshi companies, which had an established Supply chain Management Process, were able to operate profitably during the covid-19 pandemic. Content: The objective of the supply chain... Read More

Visa launches Islamic banking cards in Bangladesh

25/07/2021 | | Banking, Finance

Summary: Visa, the pioneer in digital payment, announced the launch of a new portfolio of services for Bangladeshi customers in line with Islamic Banking principles on July 15. Customers will now be able to avail themselves the cards compliant with Islamic banking and get exclusive benefits that are only available to Islamic banking as well as the benefits available to... Read More

Shipping rate of containers has skyrocketed and the shipping sector sees no relief before 2022

19/07/2021 | | Shipping

Summary:  Prices to ship containers from Asia to the U.S. And Europe have gone high due to the disruptions across the supply chain that triggered bottleneck inland distribution and delays. The executives in the shipping industry expect this situation to remain for the rest of the year. Content:  According to a global pricing index by London-based Drewry Shipping Consultants, the average price... Read More

BSEC set to close OTC market

15/07/2021 | | Capital Market, Finance

Summary:   The Bangladesh Securities and Exchange Commission (BSEC) is evolving a working plan to abolish the Over-the-Counter (OTC) market to facilitate trading for the castoffs companies. The plan will be finalized within a short time which will shift some of the companies to the SME platform and some others to the Alternative Trading Board (ATB) of the stock exchanges. Content:  Over-the-counter or... Read More

Genex Infosys makes an agreement with Edotco to offer IOT services

13/07/2021 | | Commercial, Investment

Summary:    Genex Infosys has entered into a three-year agreement with Edotco Bangladesh Company to arrange for 360-degree internet of things (IOT)-based security solutions, including monitoring and theft protection. This service agreement is estimated to produce approximately BDT240mn in revenue per year upon full rollout, added the disclosure. Content: Genex Infosys is a part of the IPE Group UK, a leading outsourcing provider of customer... Read More

Microsoft gets VAT registration

13/07/2021 | | Corporate, Investment

Summary:  Microsoft received the Value-Added Tax (VAT) registration from Dhaka South Vat commissionerate on July 01 standing as the fourth tech giant in Bangladesh. It used its Singapore address and collected its Business Identification number. Content:  It's obvious that if the International companies want to conduct business here in Bangladesh, they will have to pay taxes to the government. So, these technology... Read More

Bangladesh Bank eases rules for borrowers to avoid defaulting

06/07/2021 | | Banking

Summary: According to the recent notice published by the central bank, borrowers will be able to avoid the default zone by repaying 20% of their loan installments by August this year. Three categories of loans will be qualified for this policy. Content: In March this year, Bangladesh Bank had provided a repayment deferral support to the borrowers to help them stay out... Read More

New Guidelines for the repatriation of Outward Remittance

06/07/2021 | | Banking, Finance

Summary: By issuing the new guidelines on outward remittance repatriation for payment of royalty, Bangladesh Investment Development Authority ( BIDA ) has repealed all the previous guidelines on repatriation of royalty and eased the procedure of technical assistance and franchise fees for the private industrial enterprises to the foreign companies to facilitate new direct foreign investment. Content: According to the new guidelines... Read More

Tannery loan rescheduling application deadline extended to 30 September

06/07/2021 | | Finance

Summary:   The central bank has published a circular on the extension of loan rescheduling till 30 September and asked the default tanners to file applications with a 2% down payment with their respective banks. Content: According to the policy introduced by Bangladesh Bank in January, banks were allowed to provide rescheduling and one-time exit facilities to the tannery owners that have... Read More

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