Economy
BATB's profit drops as for high inflation deters smokers
British American Tobacco Bangladesh (BATB) saw a drop in its profits and sales in the January-March period of 2024, reasoning that people had cut back on smoking cigarettes amidst high inflationary pressure.
Bangladesh Bank says ‘reserve heist’ report is fake
It was “absolutely fake” news, Bangladesh Bank spokesman Mezbaul Haque said today.
BRAC Bank to get $50 million loan from British International Investment
The bank will support 3,500 MSMEs and women-led businesses in Bangladesh
Steel prices set to rise in Bangladesh: analysts
The US dollar rate hikes will fuel steel raw material cost, they said at Bangladesh International Trade Summit
Green Delta logs Tk 8 crore profit in Q1
Green Delta Insurance Ltd reported a profit of Tk 8 crore in the first quarter of 2024, an increase of 8 percent year-on-year
Beacon Pharma’s profit declines 7% in July-March
Beacon Pharmaceuticals, which makes more than 200 generic drugs and 65 oncology products, saw a 7.38 percent decline in profits during the July-March period of 2023-24, owing mainly to a rise in interest rates
Handset production sees a slight rise amid bleak outlook
Handset production rose 5.30 percent year-on-year in the first quarter of this year to 60.74 lakh, according to the Bangladesh Telecommunication Regulatory Commission (BTRC).
Pressure mounts as currency outflow intensifies
The deficit in the financial account stood at $9.25 billion in July-March of the current fiscal year, Bangladesh Bank data showed. It was $2.92 billion in the first nine months of the previous fiscal year and $8.46 billion in July-February of 2023-24.
Credit card use up 17% in March
Bangladesh Bank data showed that transactions through credit cards increased to Tk 3,490 crore in March. Of the amount, Tk 2,985 crore was spent within the country while the remaining was spent abroad.
April food prices cross 10%, highest in five months
According to the Bangladesh Bureau of Statistics (BBS), food inflation jumped 35 basis points to 10.22 percent last month from 9.87 percent in March. This was the first time in five months that food inflation hit double digits.
Interest, exchange rates to become stable: BAB
The economy will run at its own pace and the foreign exchange rate and interest rate will hover at a certain range following the kerb market, said Nazrul Islam Mazumder, chairman of the Bangladesh Association of Banks.
Misconceptions about risk management in import and export
Cross-border trade is the main driver of the economic progress of a country. The World Trade Organisation Trade Facilitation Agreement (WTO TFA) has set standards to facilitate global trade. Bangladesh ratified the TFA in 2016, and risk management is a unique measure of it..Risk management
BTRC to seek Tk 87.18 lakh dues from Software Shop
The Bangladesh Telecommunication Regulatory Commission (BTRC) has decided to seek dues totalling Tk 87.18 lakh from Software Shop and impose a fine of Tk 2 lakh on the company for violating different rules.
BD-Turkey can be trade gateways between Europe, South & SE Asia
Turkish business leaders discussed bilateral trade potential with FBCCI president
LafargeHolcim’s profit drops for first time since 2022's Q1
The cement maker’s turnover fell 3%, profit 15% in Jan-Mar
Inflation eases but stays above 9% in April
Inflation in Bangladesh fell seven basis points to 9.74 percent in April from a month ago on the back of declining prices of non-food items.
BTRC to purchase equipment to measure mobile tower radiation
The telecom regulator will spend Tk 12 crore to purchase equipment for measuring the levels of radiation emanating from mobile phone towers as it seeks to bolster its capacity to carry out such activities nationwide.
NBR may take host of measures to boost collection
The measures include keeping the tax-exempt income threshold unchanged at Tk 3.5 lakh, a move that is expected to increase revenue receipts and bring more people under the tax net.
