Levi's now in Dhaka
The 2,270 square feet store on Banani Road 11 opened on April 1, aiming to draw the rising middle-income population with an assortment of imported denim jeans, t-shirts, polo shirts, and formal and casual woven shirts for men and women.
IMF’s 3rd loan tranche on track despite repeated failure to hit reserve goal
The minimum net international reserves (NIR) will also remain below the threshold when an IMF mission visits Dhaka next week to review the progress of the programme before releasing around $681 million in the third tranche in May.
Bank Asia moves a step closer to Bank Alfalah acquisition
A day earlier, Karachi-based Bank Alfalah disclosed the information on the Pakistan Stock exchange.
MGI expands ceramic tiles production with $45m investment
Of the investment, $19 million came from its own pockets whereas $26 million in the form of a syndicated loan, which was released recently, he said.
Stocks sink, oil jumps after Israeli attack on Iran
Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults
Traditional sweet-makers struggle to stay afloat
Almost 60 years ago, Kali Saha opened a small sweet shop in Savar’s Namabazar after gaining experience as an apprentice. Despite offering only roshgollas, curds, and chamchams, the name and fame of “Kali Saha Mistanno Bhandar’’ spread.
The cost-of-living crisis prolongs for wage workers
The cost-of-living crisis in Bangladesh appears to have caused more trouble for daily workers as their wage growth has been lower than the inflation rate for more than two years.
Sweet Success
On a warm March morning in front of a state-of-the-art facility in Gazipur, employees were found to be lining up at a large gate, designated as the entry point.
Economy progresses, challenges emerge as well
Speaking about the future of the economy, he said there is a possibility of Bangladesh transforming into a dynamic developed country on the back of its population’s entrepreneurial spirit.
Economy
Stocks slip below 5,700 points after 35 months
The market dropped as investors panicked seeing the continuous fall of market indices, said a top official of a leading stock brokerage.
Govt hikes retail price of soybean oil
The government yesterday increased the retail price of bottled soybean oil by Tk 4 to Tk 167 per litre, adjusting it in line with the removal of duty benefits on imports and a price hike in the international market.
Dutch-Bangla Bank witnesses highest profit growth in a decade
Dutch-Bangla Bank PLC recorded nearly 42 percent growth in earnings last financial year, its highest in a decade, by improving asset quality and focusing on maintaining good corporate governance.
The golden goose and the taxman
A golden goose had once started laying solid gold eggs in the whimsical land of Bangladesh. But alas, the taxman slapped a tax on it that turned its feathers grey.
Anontex Loans: Janata in deep trouble as BB digs up scams
Bangladesh Bank has ordered Janata Bank to cancel the Tk 3,359 crore interest waiver facility the lender had allowed to AnonTex Group, after an audit found forgeries and scams involving the loans.
Max Group starts production of green blocks
Max Group, a top construction firm in Bangladesh, has entered the green brick business by starting commercial production of autoclaved aerated concrete (AAC) blocks and panels at an initial investment of around Tk 160 crore.
Gold price hits new record again
Jewellers are selling each bhori of gold at Tk 119,637 from 7pm today
Global Economy
Govt raises bottled soybean oil price to Tk 167 a litre
But cuts loose soybean oil price by Tk 2 a litre
‘Farmer, RMG workers, migrants main drivers of Bangladesh economy in first 50 years’
However, their contribution would not remain the same in the years to come, says a book published from London
China and EU trade tensions risk a full trade war
China and Europe face a "slow motion train accident" as a rising tide of protectionism threatens to become a full trade war, the head of a European business lobby group warned on Wednesday, a day after Germany's chancellor conveyed European concerns to Beijing.
Another garment factory receives LEED green certification
Bangladesh now has 215 LEED-certified factories
Dutch-Bangla joint venture firm to establish bag factory in Cumilla EPZ
BSK Bangladesh will invest $6.14 million
Import of another 124,000 tonnes of rice given go-ahead
Some 91,000 tonnes will be parboiled rice and 33,000 tonnes sunned rice
BASIC Bank employees want merger with another state bank
They submitted a memorandum to Bangladesh Bank governor
IMF lowers Bangladesh’s economic growth forecast
Bangladesh economy to grow 5.7% in FY24, the lender says
Organisation News
Pubali Bank Securities holds 14th AGM
Pubali Bank Securities Limited recently organised its 14th Annual General Meeting (AGM) at the bank’s head office in Dhaka.
Epic Health Care to launch 3rd branch in Ctg tomorrow
The new branch of Epic Health Care, a healthcare provider in Chattogram, is set to inaugurate in the port city on tomorrow (Friday)
MetLife, Dhaka University strike MoU on career development opportunities
MetLife Bangladesh recently signed a memorandum of understanding (MoU) with the department of banking and insurance of the University of Dhaka.
IPDC Finance gets new MD
IPDC Finance has appointed a new managing director (MD), according to a press release received today.
Unimart offers benefits to Eastern Bank cardholders
Eastern Bank has recently penned an agreement with Unimart Limited, one of the premium superstores in Bangladesh.
Summit Group's Azeeza Khan joins rank of Young Global Leader 2024
Azeeza Aziz Khan, a director of the Summit Group of Companies, has been inducted into the Young Global Leader (YGL) by the World Economic Forum (WEF) for the class of 2024.
Khan becomes chairman of CAPA's PSAG
The Confederation of Asian and Pacific Accountants (CAPA) has appointed Abdur Rahman Khan, ex-president of the Institute of Cost and Management Accountants of Bangladesh (ICMAB), as chairman of the Public Sector Advisory Group (PSAG), effective immediately.
Govt seeks duty-free access to Brazil
Bangladesh has sought duty-free access for its products shipped to Brazil to reduce the bilateral trade gap.
Business Multimedia
Potato price shoots up
The price of potatoes has begun an upward climb in the market
92 thousand crores or more siphoned out in 15 years?
Based on the compilation of media reports on bank scams between 2008 and 2023, CPD said as much as 92 thousand crores of taka have been siphoned out of the banking sector in the last fifteen years
Is Bangladesh going towards a deep economic crisis?
How can Bangladesh avoid the economic crisis to deepen further?
Who will benefit from WTO's duty benefit extension?
What are WTO’s duty-free benefits?
How can Bangladesh resolve economic, political problems?
Why is Bangladesh facing economic problems? Why did the country fail to follow the IMF's loan conditions? What are the remedies?
Mutual Trust Bank opens sub-branch in Khilkhet
Mutual Trust Bank recently opened a sub-branch in the capital’s Khilkhet.
Shahjalal Islami Bank declares 14% cash dividend
Shahjalal Islami Bank announced a 14 percent cash dividend for the year that ended on December 31, 2023.
Livestock services week, fair begin
3,000 farmers from 466 upazilas take part in "Livestock Services Week and Exhibition-2024"
Dhaka stocks slip below 5,700 after 35 months
The share market saw a massive setback today with the benchmark index of the Dhaka Stock Exchange (DSE) falling below the 5,700-point mark for the first time in 35 months as nervous investors sold off their scrips.
Witness Bangladeshi startup ecosystem taking center stage at Turtle Venture Studio's demo day in Singapore
Turtle Venture Studio is the first of its kind in Bangladesh organizing their Demo Day in Singapore
DBBL, Bank Asia advance despite market fall in early trade
Shares of most companies fell in the morning trade on the Dhaka Stock Exchange (DSE), extending a losing streak for the fourth day.
Wood plastic composites gaining popularity
Wood plastic composites in the form of kitchen cabinets, bathroom and balcony doors are slowly gaining popularity in Bangladesh for being an alternative to wood, according to industry insiders and realtors.
Padma Islami served show cause notice over Tk 211cr unsettled claims
The Insurance Development and Regulatory Authority (IDRA) has given Padma Islami Life Insurance five working days to explain why they should not be penalised for failing to settle claims amounting to Tk 211.82 crore last year.
Drones to help assess crop losses
Around 20 officers of the Department of Agricultural Extension (DAE) are initially receiving training to learn how to use the state-of-the-art technologies, it added.
US trade bodies oppose tariff hike idea for garments from Bangladesh
Bangladeshi apparel exporters are facing one of the highest tariffs at 15.62 percent in the US, which imported more than $116 billion worth of garment items last year. Bangladesh's share stands at 9.3 percent.
