Investors in hi-tech parks, EZs may lose tax benefits
Investors in the economic zones and hi-tech parks in Bangladesh may see an end to the zero-duty benefit on imports of capital machinery, components and construction materials next fiscal year.
Alternatives to cash incentives planned for exports
The government plans a new export promotion fund as an alternative to direct cash incentives for export-oriented sectors to help the country face challenges resulting from its graduation to a developing nation in 2026.
Policy support can help earn $10b from semiconductor manufacture by 2041
Bangladesh would be able to earn $10 billion from semiconductor manufacturing by 2041 if proper policy support is ensured, according to Zunaid Ahmed Palak, state minister for telecom and ICT.
Islamic banks lose Tk 8,496 crore deposits in a month
Deposits in Islamic banks reduced, but in Islamic banking branches of conventional banks rose
Ship recycling down by a third for global conflicts
Bangladesh annually recycles around 2.5 to 3 million tonnes of scrap vessels but this has come down to around 1 million tonnes in the last two years, according to the Bangladesh Ship Breakers and Recyclers Association.
Semiconductor makers have potential to earn $10 billion by 2041: Palak
Bangladesh would be able to earn $10 billion from semiconductor manufacturing by 2041 if proper policy support is ensured, according to Zunaid Ahmed Palak, state minister for telecom and ICT.
City Bank’s profit grows marginally in first quarter
City Bank registered a 2.7 percent year-on-year growth in profit to Tk 92.44 crore in January-March of 2024.
Bangladesh Bank imposed entry restriction to hide weakness: journalists
Journalist leaders demand easy access to info at the central bank
11th National SME Fair-2024 to begin May 19
The 11th National Small and Medium Enterprise (SME) Fair-2024, the biggest fair of locally made products, will take place at the Bangabandhu International Convention Centre in the capital's Agargaon from May 19 to 25.
Economy
Ensuring security in land digitalisation
Bangladesh’s ambitious land digitalisation project holds the potential to transform property management and transactions, making them quicker and free from corruption.
Bangladesh’s outlook remains bright despite global uncertainty
Despite global uncertainty, Bangladesh’s outlook has remained bright and the economy is expected to grow steadily, said a top economist of the Hongkong and Shanghai Banking Corporation (HSBC).
Bangladesh’s outlook remains bright despite global uncertainty
Says HSBC’s chief economist for Asia
Govt sets $110 billion export earnings for FY27
The government has set a target to export goods and services worth $110 billion in the fiscal year of 2026-27, which is double the earnings recorded in the last financial year
Finance minister infected with Covid-19
Cabinet Secretary for Coordination and Reforms Mahmudul Hossain Khan told The Daily Star
Daraz appoints new managing director for Bangladesh
Ben (Qian) Yi replaced Syed Mostahidal Hoq, sources said.
EBL signs agreement with US State Department to launch Climate Change Adaptation Award
Eastern Bank PLC (EBL) has entered into an agreement with the US Department of State to collaborate on the EBL Climate Change Adaptation Award
Steel consumption to increase 25% by 2027: study
Steel consumption in Bangladesh is projected to rise by 25 percent to around 1.06 crore tonnes in 2027 from 85 lakh tonnes in 2024 thanks to growing infrastructure development projects and individual consumption, according to Bigmint.
Global Economy
Analysis / Biden's new China tariff wall faces leakage via Mexico, Vietnam
The Biden administration's new tariffs on Chinese electric vehicles and other strategic sectors aim to protect the future of US manufacturing, but they will likely accelerate a shift of Chinese production to Mexico, Vietnam and elsewhere to avoid them
Argentina: Yearly inflation at almost 300%
The monthly inflation rate rose at 8.8 percent, compared to 11 percent in March
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
Uber to buy Foodpanda Taiwan
The US giant aims to complete the all-cash acquisition of Foodpanda Taiwan by the first half of 2025, it said in a statement.
US to raise tariffs on $18 billion of China imports including chips
The United States is hiking tariffs on $18 billion worth of imports from China, targeting strategic sectors like electric vehicles, batteries, steel and critical minerals, the White House said Tuesday
Sony net profit dips on-year but beats estimate
On Tuesday, Sony logged a net profit of $6.2 billion for 2023-24
IMF endorses Japan's commitment to flexible yen
IMF said Japan's commitment to allow the yen to move flexibly will help the central bank focus on achieving price stability
'Significant' China response to US tariffs possible: Yellen
Beijing could possibly issue a "significant" response to US tariffs on Chinese goods, Treasury Secretary Janet Yellen said Monday when asked about the prospect of fresh levies
Organisation News
Prime Bank Investment holds roadshow in Singapore
Prime Bank Investment Ltd (PBIL) recently organised an “Investment Roadshow Singapore 2024”, aiming to empower remittance earners and unlock the nation’s potential in the Capital Market.
Bangladesh, Netherlands joint initiative to ensure healthy food
In the wake of massive adulteration of food, Bangladesh and the Netherlands today launched a joint initiative to produce healthy food and market them in Bangladesh through Fargo Private Limited.
Mahbubur, Jahangir elected PDBL chairman, vice-chairman
Syed Mahbubur Rahman, managing director and CEO of Mutual Trust Bank, and Mohammad Jahangir, managing director and CEO of Rupali Bank, have been elected as chairman and vice-chairman respectively of Primary Dealers Bangladesh Limited (PDBL).
National Finance holds 21st AGM and 5th EOGM
National Finance recently organised its 21st annual general meeting (AGM) and 5th extraordinary general meeting (EOGM) at the Radisson Blu Dhaka Water Garden.
Nagad hands over Tk 5.5cr revenue to Postal Department
Nagad, the country’s leading mobile financial service provider, has shared its revenue with the Bangladesh Postal Department as per their agreement.
Citizens Bank partners with Trust Bank for Western Union transfer services
Citizens Bank PLC recently partnered with Trust Bank to offer homebound Western Union branded money transfer services through branches of Citizens Bank recently.
Union Bank and MedRabbits Healthcare sign agreement
A corporate agreement was recently signed between Union Bank PLC and MedRabbits Healthcare at the bank’s head office in the capital’s Gulshan recently
Exim Bank opens booth at Ashkona Hajj Camp
Exim Bank recently inaugurated a service booth at the Ashkona Hajj Camp to provide services to pilgrims during the Hajj season.
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 gets new AMD
IFIC Bank has recently promoted an official to the post of additional managing director (AMD).
NRB Bank, AMZ Hospital sign deal on service facilities
NRB Bank has recently signed an agreement with AMZ Hospital Ltd on service facilities.
Prime Bank wins 3 awards at Asset Triple A Awards 2023
Prime Bank won accolades in three categories at The Asset Triple A Awards 2023 in Bangladesh for its contribution to sustainable finance.
SBAC Bank launches ‘SBAC Smart Banking Services’
SBAC Bank recently launched a new digital products platform, styled “SBAC Smart Banking Services”, in celebration of the bank’s 11th founding anniversary.
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
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
Bank Asia’s first-quarter profit down 41% due to higher provisions
Bank Asia PLC’s profit plunged 41 percent year-on-year to Tk 77.88 crore in the first quarter of 2024
GP, bKash launch seamless account opening services
Grameenphone has partnered with bKash to enable the former’s customers to seamlessly open bKash accounts directly within the MyGP app
Freshco Distribution hosts ‘Stakeholders Meet’
Freshco Distribution recently staged a “Stakeholders Meet”, titled “Taste The Best of Australia” with representatives from top-tier establishments, including renowned 5-star hotels alongside prominent restaurants and superstores from across the nation
