Sukanta Halder

The nationwide blockade being observed by several political parties in Bangladesh is taking its toll on businesses as sales have plunged. The transport blockade, set to enter its fifth phase on Wednesday, aims at forcing the current government to step down and pave the way for holding the next parliamentary election under a non-partisan interim government.

Payments against claims of around 10 lakh policyholders are hanging in the balance as 29 life insurance companies are not clearing dues owing to a liquidity crisis, official figures showed.

Sugar prices have gone up in Bangladesh in the past one week owing to its spike in the global markets and higher US dollar costs and supply crunch at home.

The demand for jewellery has plummeted in Bangladesh due to the record high prices of gold, ongoing political uncertainty and rising living costs, according to market players.

The tourism industry of Bangladesh has been hit hard by the ongoing political unrest as people are unwilling to travel for fear of violence amid strikes and blockades across the country, according to businesspeople.

More than a dozen life insurance companies settled only 14.09 percent of the 24,605 complaints they received in the first 10 months this year, creating uncertainty about whether policyholders will get back their money, official figures showed.

The government’s measures to reign in potato prices may be beneficial in the short-run, but it will not leave any lasting impact on the market, according to Mostafa Azad Chowdhury Babu, president of the Bangladesh Cold Storage Association.

A three-day blockade enforced by major opposition parties and protests of garment workers disrupted the supply chain of daily essentials and sent the cost of transport higher, according to industry people and traders.

Prices of potatoes and onions have skyrocketed in the kitchen markets.

Onion prices at wholesale and retail markets in Bangladesh rose yesterday after India set a minimum price of $800 per tonne on exports of the bulb.

Shopping centres, fashion houses and other retail outlets in Dhaka found a reason to smile on the occasion of Durga Puja, the biggest annual festival for the Hindu community which begins today, with traders saying sales had exceeded expectations.

Bangladesh is rapidly emerging as a dependable source of leather goods and footwear for many foreign buyers owing to low prices and good quality, according to industry people.

The government failed to enforce the price cap on onions and potatoes even for a single day since it issued the order about a month ago.

Bangladesh Competition Commission has fined Kazi Farms Tk 5 crore and Suguna Food and Feeds Bangladesh Private Limited Tk 3.44 crore in two cases for unusual increase in broiler chicken prices in the market.

The two were fined for violating Section 15 of the Competition Act, 2012

Mutual Trust Bank Limited (MTB) is expanding its retail banking portfolio to diversify the business, said Shafquat Hossain, head of retail banking of the lender.

The cost-of-living crisis has kept stressing out fixed and lower-middle-income groups in Bangladesh as inflation has persisted at elevated levels while their salaries and incomes have seen little upward adjustments.

Homeland Life Insurance Company Ltd's chief executive officer (CEO) Biswajit Kumar Mondal was removed from his post after failing to provide necessary information to an audit firm appointed by the Insurance Development and Regulatory Authority (Idra).

Non-life insurance companies in Bangladesh will be able to collect premiums through mobile financial service (MFS) providers as the Insurance Development and Regulatory Authority (Idra) looks to facilitate the use of modern technologies in the industry.

Due to an increase in import costs and supply failing to keep up with demand, winter vegetable saplings have become four to five times costlier this year in Bogura’s sapling villages in the Shajahanpur upazila.