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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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?
US trade body reiterates support for GSP revival
The American Apparel & Footwear Association (AAFA) has expressed support for revival of the Generalised System of Preferences (GSP) to reduce costs faced by US citizens.
Bank Asia to take over Bank Alfalah’s Bangladesh unit
Bank Asia is likely to acquire the Bangladesh operations of Karachi-based Bank Alfalah, according to information disclosed to the Pakistan Stock Exchange yesterday.
ADN Telecom plans to make telecom devices
ADN Telecom, a leading IT and telecommunication service provider in Bangladesh, has availed land to set up facilities and locally manufacture telecommunication devices to substitute imports, according to company officials.
Jonaid Shafiq becomes director of Meghna Bank
Professor Md Jonaid Shafiq, a renowned physician, has been elected as director of Meghna Bank.
EXIM Bank appoints Moidul Islam as its DMD
EXIM Bank has promoted an official to the post of deputy managing director.
MJL to double stakes in Prime Bank
MJL Bangladesh, one of the nation’s leading lubricants companies, is going to buy 2.20 crore shares of Prime Bank in order to increase its stake in the lender.
NCC Bank, BRRI sign deal on agriculture research
NCC Bank has signed an agreement with Bangladesh Rice Research Institute (BRRI) under which the bank will provide financial assistance worth Tk 90 lakh to a research project related to the development of a “Prilled Urea Applicator”.
Peter Haas inaugurates US bakery Cinnabon in Dhaka's Banani
US Ambassador to Bangladesh Peter Haas today inaugurated American bakery franchise Cinnabon in the capital today
Bangladesh to introduce drone technology to assess crop losses
20 DAE officers will get training on how to use the tech
Bank Asia plans to acquire Bank Alfalah’s Bangladesh unit
Bank Asia is going to hold a meeting of its board of directors next Sunday and is likely to disclose the mater in detail, a senior official of Bank Asia said.
