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Walmart refuses to take clothes worth $1m from Simco Dresses

Global retailer Walmart has refused to receive clothes worth $1 million from Simco Dresses Limited, a Bangladeshi company, with which the US company terminated its relation after the Tazreen Fashions fire. The US retailer terminated relation with Simco... Full story

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Banks’ lending against deposit tumbles

The advance-deposit ratio in the banking sector decreased significantly due to a lower disbursement of loan in the private sector, said officials of Bangladesh Bank and commercial banks. Full story

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Mobile subscribers drop for 3rd month

The active mobile phone subscribers of the country decreased by 2.95 lakh in December, three months in a row, as the tight SIM registration procedure imposed by the Bangladesh Telecommunications Regulatory Commission continued to... Full story

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BSEC investigates unusual trading thru ICB Securities

The Bangladesh Securities and Exchange Commission on Tuesday formed a committee to investigate suspicious trading of shares of three companies by a certain individual through ICB Securities Trading Company Ltd. Full story

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Ministry sits with stakeholders today to finalise stance

The commerce ministry will sit with the stakeholders today to finalise its position regarding the latest move by the office of the United States Trade Representative to withdraw the GSP facility for Bangladeshi products... Full story

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Walmart tightens supplier policy after Tazreen fire

Walmart Stores Inc plans to cut ties immediately with suppliers who subcontract work to factories without the retailer’s knowledge, changing its policy after a fire killed more than 100 garment workers in Bangladesh... Full story

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China says top 10 steel mills to control 60pc of capacity by 2015

China, the world’s largest steel producer, aims to bring around 60 per cent of total steel capacity under the control of its top 10 steel mills by 2015 as part of a wide-ranging plan to restructure its industries. Full story

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Oil mixed in Asian trade

Oil prices were mixed in Asian trade Tuesday on geopolitical concerns triggered by a bloody showdown between Islamists and Algerian forces, with weaker crude demand capping gains. Full story

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Yen mixed after BoJ adopts new inflation target

The yen was mixed in afternoon forex trade on Tuesday after the Bank of Japan adopted a two per cent inflation target and launched an open-ended easing policy, moves widely expected by the market. Full story

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European stocks sag despite surging German confidence

European share prices slid on Tuesday, despite soaring investor confidence in eurozone powerhouse Germany, as Frankfurt wobbled on rumours over the health of its banking sector, dealers said. Full story

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Davos leaders uneasy over glut of easy money

The world is awash in easy money, with consequences that are starting to worry some central bankers and business leaders at the Davos World Economic Forum, though so far inflation fears seem overdone. With developed world government finances... Full story

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No respite for eurozone in long rebalancing slog

The eurozone crisis is entering a new, treacherous phase for governments, which can only cross their fingers that slow-burn reforms will pay off before voters get fed up with austerity and high unemployment. On the face of it, 2013 should... Full story

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World shares hit 20-month high as Japan promises open-ended easing

World shares hit a new 20-month high on Tuesday after Japan’s central bank promised to pump unlimited stimulus into the country’s economy to fight the threat of deflation and generate growth. Full story

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Cathay Pacific Airways gets new GM

Cathay Pacific Airways on Monday announced Charlie Stewart-Cox as the airline’s general manager for South Asia, Middle East and Africa regions with effect from January 21. Stewart-Cox will be responsible for overseeing the business and operations... Full story

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Jamuna Bank gets new AMD

Md Abul Shahjahan has recently been promoted to the post of additional managing director of Jamuna Bank. Shahjahan started his banking career as a probationary officer with the then United Bank — presently Janata Bank — in 1970, said... Full story

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Etihad to finalise deal with Jet on Friday

Abu Dhabi’s Etihad Airways will finalise a deal to buy a stake in India’s Jet Airways on Friday, CNBC TV18 reported, in what would be the first such investment by a foreign carrier in an Indian airline since rules were relaxed last year. Full story

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