Walton launches solar solution for 30 solar products
The products belong to five categories
Banks asked to increase forex inflow
Bangladesh Bank today sat with five leading private commercial banks
29 companies honoured with green factory awards
The Department of Inspection for Factories and Establishments gave the awards
National Bank continues incurring losses
It made a loss of Tk 1,497 crore in 2023, down from Tk 3,285 crore in 2022
BTRC to formulate satellite internet guideline
In a recent internal meeting, Bangladesh Telecommunication Regulatory Commission (BTRC) approved the formulation of the committee comprising officials of its different divisions to prepare the guideline for internet services through non-geostationary satellite orbit (NGSO) satellites.
Shibli Rubayat-Ul-Islam reappointed as BSEC chief
Prof Shibli Rubayat-Ul-Islam has been reappointed as the chairman of the Bangladesh Securities and Exchange Commission (BSEC) for another four-year term.
Under-invoicing by importers crowding out country's lone sandpaper maker
Bangladesh’s first and only sandpaper plant is struggling to expand its footprint owing to unhealthy competition from importers, who are allegedly under-invoicing prices of the abrasive paper.
Heat stress jeopardises dairy industry
There are around 2.5 crore cows and 13 lakh to 14 lakh farmers in the country. Of the farmers, 3.5 lakh own large farms, according to the Dairy Farm Owners Association in Bangladesh.
Bank mergers far from voluntary
In fact, the reactions of the associated bankers and directors, circumstances centring the meetings where the decisions were taken alongside protests in one case confirmed that these had been decided by the government and relayed through the central bank.
Economy
A third of budget spent on interest payments, subsidies
The government spent Tk 246,583 crore in July-January of 2023-24 out of the total budget of Tk 761,785 crore for the entire fiscal year, figures from the finance ministry showed. The outlay under interest payments and subsidies was Tk 88,226 crore, which was 36 percent of the allocation.
29 companies to get Green Factory Award-2023
The government will present a “Green Factory Award-2023” to 29 companies from 12 sectors today recognising their role in enhancing productivity through the use of skilled workforce and eco-friendly technology in safe environments.
Expectations for a good budget
How do you define a good budget? Should it be all-inclusive? Should it be too large? Or should it only focus on the possible future of the nation and allocate more to education and healthcare?
Improving summer power supply: Govt pays half the subsidy power ministry needs
The Finance Division last week disbursed Tk 1,500 crore in subsidy against the power ministry’s demand for the immediate release of Tk 3,000 crore to boost electricity supply during the summer months.
Runner Automobiles trims losses
Runner Automobiles, one of the largest listed automobile companies, has continued to suffer from losses due to a decline in revenue and increase in financing costs.
Seamless internet not before end of May
The maintenance works of SEA-ME-WE 5, through which Bangladesh avails the largest chunk of international bandwidth, will take about a month, prolonging woes over the lack of a smooth broadband internet service in the country.
Technical training leads to skills development: ILO
Bangladesh has formulated a National Skills Development Policy and established a unified national qualifications framework to enhance recognition of skills qualifications and facilitate up-skilling of the workforce, the International Labour Organization (ILO) said on April 24.
DRU, DUJ urge easy access to Bangladesh Bank for journalists
The DRU said that the sudden barriers were intentional and went against independent journalism. It added that there would be a risk of wrong reporting about the banking sector
Global Economy
US Fed's favored inflation measure accelerates, dimming rate cut hopes
The PCE price index rose at an annual rate of 2.7 percent in March, up 0.2 percentage points from a month earlier
EU toughens safety rules for online retailer Shein
The company joins Facebook, TikTok, X, YouTube and others on a list of "very large online platforms" which have more than 45 million monthly active users in the European Union
Airbus net profit soars 28% in first quarter
Airbus' net income in the first three months rose to 595 million euros ($637 million) while revenue grew nine percent to 12.8 billion euros
Microsoft, Google earnings shine as AI drives revenue
Alphabet reported profit of $23.7 billion on revenue of $80.5 billion, Microsoft's revenue was $61.9 billion, with net profit up by 20 percent to $21.9 billion
Meta profits soar but costs of AI cause worry
The rise in sales and profit continued Meta's rebound of 2023, which came thanks to drastic cost-cutting, including massive layoffs
Heidelberg Bangladesh’s sales drop, but profit rises
The company gives credit to fall in administration, distribution costs and selling expenses
Analysis / Beijing powers up into car wars battleground
The Chinese market alone is crucial: it’s the world’s biggest with sales of 22 million vehicles last year, according to the China Passenger Car Association
Tesla profits tumble but shares rise on new vehicle plan
Tesla reported a big drop in quarterly profits Tuesday amid an increasingly cutthroat electric vehicle market
Organisation News
LafargeHolcim wins ‘Green Factory Award 2023’
LafargeHolcim Bangladesh received the “Green Factory Award 2023” yesterday for its continued endeavor to ensuring eco-friendly technology and a safe workplace in its cement plant in Chattak upzaila of Sunamganj.
Faruque Ahmed elected chairperson of RDRS board of trustees
Faruque Ahmed has been elected chairperson of the Board of Trustees of RDRS Bangladesh for a three-year term, effective from today.
Delta Life Insurance Company organises ‘Annual Business Conference’
Delta Life Insurance Company recently organised its “Annual Business Conference-2023” at Hotel Sea Palace in Cox’s Bazar.
Green Delta, Truck Lagbe strike deal on motor insurance services
Green Delta Insurance recently signed an agreement with Truck Lagbe to facilitate motor insurance services to the latter’s customers.
Enhance skillset of graduates to improve insurance sector
Knowledge of specialised financial services is continuously evolving, which makes industry-academia relationship very important, according to discussants at a roundtable.
Prof Ubaidul Kabir new chairman of Bangladesh Red Crescent Society
Prof Dr Md Ubaidul Kabir Chowdhury, a prominent dermatologist, has been appointed as chairman of Bangladesh Red Crescent Society
ICCAB gets new office bearers
Probir Chandra Das, deputy managing director and CFO of National Life Insurance Company, and Moinul Hye Asif, executive vice-president and head of risk and compliance of MetLife, have recently been elected as chairman and general secretary respectively of the Insurance Companies CAMLCOs Association of Bangladesh (ICCAB) for a two-year term (2024-25).
Bangladesh embassy in US, SECI organise customers gathering and SECI app campaign
The Embassy of Bangladesh in the US capital of Washington DC and Sonali Exchange Company Incorporation (SECI), a subsidiary of Sonali Bank, jointly organised a customer gathering and SECI app campaign at the embassy’s Bangabandhu auditorium.
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?
IFIC Bank organises business conference in Sylhet
IFIC Bank recently organised a conference, styled “IFIC Largest Banking Network Business Conference”, in Sylhet.
Eastern Bank, Mastercard launch dual currency prepaid card for medical tourism
Eastern Bank, in collaboration with Mastercard, launched the country’s first dual currency prepaid card for medical tourism to simplify access to healthcare in India for Bangladeshi patients.
Dhaka Bank opens 31st sub-branch at Shanir Akhra
Dhaka Bank recently opened a sub-branch in the Shanir Akhra area of the capital under its Jatrabari branch.
StanChart, Channel i honour 11 agriculture heroes at 9th Agrow Award
Standard Chartered Bangladesh and Channel i jointly awarded 11 individuals and institutions at the 9th Agrow Award for their contributions towards achieving climate adaptation goals, building sustainable networks, supplementing value chains, research initiatives, and driving tangible change across homesteads and commercial agricultural operations.
US regulators seize troubled lender Republic First, sell it to Fulton Bank
Philadelphia-based Republic First, which had abandoned funding talks with a group of investors, was seized by the Pennsylvania Department of Banking and Securities.
China's EV execs bullish on Western pressure at Beijing car show
Thousands of car lovers and company representatives descended on Beijing this week for the Auto China show -- a chance for industry giants to show off new designs and cutting edge technologies aimed at getting ahead in the fiercely competitive sector
India to export 99,150 tonnes of onions to Bangladesh, 5 other countries
India today said it has allowed export of 99,150 tonnes of onions to Bangladesh and five other countries
Bangladesh to award green factories in 12 sectors
The government will give the Green Factory Award to 29 companies in 12 sectors for recognition of their compliance with workplace safety standards.
API production falls short
While Bangladesh’s pharmaceutical sector has exceeded expectations and surpassed many comparator countries, the industry’s reliance on imports for raw materials has long been a limiting factor.
Starting from nowhere, pharma sector becomes a lifesaver
The year 1982 was a watershed in the history of the pharmaceutical industry of Bangladesh as the government stepped in to lay the foundation for its stellar growth in the subsequent decades.
