Feb 24
Daily News Head Line
No cheer for cement industry in 2017 PDF Print E-mail

The price hike of raw materials, the depreciation of local currency and intense competition among too many makers have hit the cement industry hard in the outgoing year, market players said.

Even the ongoing mega infrastructure projects are failing to bring the cement manufacturers much cheer these days.

In 2017, the average price of cement went down by Tk 15 a bag to Tk 385 despite a significant increase in production costs, according to industry insiders.

The industry's sorry state of mind is also reflected in the stock market.

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Bangladesh suffers from ethical void: economist PDF Print E-mail
Written by Administrator   
Saturday, 23 December 2017 13:50

A lack of ethics coupled with political patronage has led to a default loan culture in Bangladesh, said Rehman Sobhan, a noted economist, yesterday.

Sobhan and a couple of young researchers had identified the ethical crisis in the banking system in the 1980s.

“This problem has been perpetuating over successive regimes -- and down to the present day. In fact, you have got into a situation now where perpetuation of debt default is ingrained in the business practices.”

Sobhan's comments came at the opening of 20th biennial conference of the Bangladesh Economic Association held at the Institution of Diploma Engineers Bangladesh in Dhaka.

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RCBC accuses Bangladesh of heist ‘cover-up’ PDF Print E-mail

The Philippines bank through which $81 million stolen from Bangladesh’s central bank was channelled in February 2016 has accused Dhaka’s monetary authority of covering up its negligence and demanded that it stop making the bank a “scapegoat.”

Rizal Commercial Banking Corp (RCBC) was responding to comments on Saturday by Bangladesh Finance Minister Abul Maal Abdul Muhith who said he wanted to “wipe-out” the Manila-based bank.

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Bangladesh should embrace Internet of Things: experts PDF Print E-mail

Bangladesh should embrace the "Internet of Things" as it can help the country efficiently maintain key infrastructure, manage traffic properly and boost economic growth, according to experts.

IoT can immediately improve traffic management of cities, increase crop production, and maintain important infrastructure, they told a seminar at the Digital World on Friday.

For example, running air-conditioners at over 25 degree Celsius alone can save $67,644 a day in Bangladesh and IoT can ensure that.

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Suits, blazers emerging as strong export items PDF Print E-mail

Suits and blazers have emerged as one of the most promising value-added apparel items from Bangladesh as local entrepreneurs train their focus on grabbing a share of the $52 billion tailoring market.

Bangladesh's men's tailoring industry now exports $200 million worth of products, up from about $20 million even 3-4 years ago.

Even five years ago, there was only one suit manufacturing factory in Bangladesh.

Now, the number is more than six, said Humayun Rashid, managing director of Energypac Fashions, one of the leading suit exporters from Bangladesh. The company ships suits worth $26 million a year.

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