LafargeHolcim’s profit drops for first time since 2020's Q2
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.
Uncertain bets: bad stocks rule the roost
Investors who owned the issues of good companies that provided at least 50 percent dividend in their last financial year incurred losses in the first four months of 2024. On the other hand, people who bet on low-performing companies, which declared less than 15 percent dividends, saw their portfolio inflate.
Banks go slow in raising interest rates even after BB cedes control
The interest rates on consumer loans, forced loans and overdue loans are likely to go up rapidly in the upcoming months, however.
Reserves fall below $19 billion, first time in 11 months
$1.63 billion of ACU payment was settled today
Efficient generators at industries can slash LNG imports by 21pc: study
Analysing data from 73 gas-fired captive generators at 51 industries with a combined capacity of around 250 megawatts (MW), the IEEFA said the average efficiency of these generators is only 35.38 percent
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.
Over 70% public projects not completed on time
As per the World Bank’s report on corruption in South Asian countries, almost 71 percent of the firms in Bangladesh are expected to give gifts to get an import licence, 42.5 percent to get a construction permit and 42 percent to get government contracts.
Deal for country’s second satellite in three months
The satellite, Bangabandhu-2, will be launched in 3 years
Economy
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.
Use alternative dispute resolution to reduce NPLs
Common ADR processes include mediation, arbitration, and neutral evaluation. These processes are generally confidential, less formal, and less stressful than traditional court proceedings.
Renata ships first drug registered in Australia
The contraceptive pill named Levonorgestrel 1.5 mg is known by its brand name of Novella-1
Poverty reduction rates arithmetically correct. Do they reflect reality?
Bangladesh is doing better than many countries in reducing poverty. However, questions remain whether the data about poverty alleviation match reality, according to Prof Joe Devine, an expert on poverty, inequality, and vulnerability
Bangladesh raises gold prices again
Jewellers have hiked gold prices by Tk 1,831 to Tk 117,281 a bhori (11.664 grammes)
Private sector's short-term foreign debt drops
The debt stood at $11.04 billion in March, $11.07 billion in February and $11.25 billion in January, according to Bangladesh Bank.
State banks struggle while foreign lenders make hefty profit. Here’s why
Why is there such a huge discrepancy between multinational banks and state-run lenders despite operating in the same business environment? The reason is a lack of efficiency in making business decisions, business focus, and political bias.
Global Economy
Honda posts record profit, issues cautious forecasts
The company said net profit for the year to March soared 70 percent to 1.1 trillion yen ($7.1 billion) on sales of 20.4 trillion yen, up 20.8 percent from the previous year
DRIVERS’ WORK ABSTENTION / 700 TEUs of containers miss shipment at Ctg port
However, workers resumed operations today early morning
US to raise tariffs on Chinese electric vehicles: report
The move comes at the end of a long-awaited review of tariffs that were imposed during a trade war between Washington and Beijing
Musk says Tesla charger network will grow, days after layoffs
Elon Musk said Tesla would invest over $500 million this year to install new superchargers, just days after a report of massive layoffs
China consumer prices rise at faster rate in April
China's inflation rate quickened last month, official data showed Saturday, as the government works to boost spending in the world's second-largest economy
US dollar price rises up to Tk 125 in kerb market
Dollar price rose just a day after the introduction of the crawling peg
Apple's iPhone shipments in China rebound with 12% surge in March after price cuts
Apple's iPhone shipments in China increased by 12 percent in March after the company and its retailers reduced prices
Organisation News
SSC exams: Syeda Anjuman Ara Girls School gets 100% success rate
Students of Syeda Anjuman Ara Girls School, founded in 2018 in Cumilla's Chauddagram, have had a 100% success rate in the 2024 SSC exams
Plan International celebrates 30yrs of journey in Bangladesh
Plan International celebrated its 30 years of journey in Bangladesh today
bKash's profit surged in 2023
Mobile financial service provider bKash logged a massive 504 percent year-on-year rise in profit in 2023.
Nasir becomes Shwapno's new MD
Sabbir Hasan Nasir has recently been appointed as managing director of Shwapno, a subsidiary of ACI Limited.
Remark-Herlan products draw visitors at US Trade Show
Remark-Herlan has emerged as a prominent player at the 29th US Trade Show 2024, captivating attendees with its array of authentic products crafted using modern technology.
German ambassador Troster meets ICCB president
German Ambassador to Bangladesh Achim Troster has held a meeting with members of the executive board of the International Chamber of Commerce Bangladesh (ICCB) at the ICCB secretariat in the capital’s Gulshan today.
BASIS holds election for executive council
Russell T Ahmed is set to retain his position as president of the Bangladesh Association of Software and Information Services (BASIS) as his panel, One Team, secured eight of the 11 positions available on the organisation’s executive council.
ICB Asset Management Company hands over 60% interim dividend to ICB
The Investment Corporation of Bangladesh (ICB) has received a dividend warrant for a 60 percent interim dividend declared by the ICB Asset Management Company.
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?
Southeast Bank’s profit declines 36% in first quarter
Southeast Bank made a profit of Tk 92.15 crore in the first quarter of 2024, a decrease of 36 percent year-on-year
Retailers, brands flock to Uttara
The consumer market in Uttara, a planned suburb in Dhaka city, has witnessed steady growth over the years, prompting many retailers and brands to expand their operations in the area.
Uttara: A city within a city
Before the 90s, Uttara offered little aside from open fields of green and waterlogged land.
Haor village in Moulvibazar now a hub for ridge gourd farming
The vast low-lying depressions in the northeastern part of Bangladesh, called haors in Bangla, remain inundated for almost half the year centring the monsoons.
BB’s major policy shift: What does it mean for you?
All these measures are meant to put the once high-flying economy back on track.
Govt decision on power, gas connections to hurt investment
On March 21, the cabinet committee on economic affairs took the decision not to provide electricity and gas supply to new factories if they are set up in any other places except in government-designated economic zones or industrial enclaves.
PM asks state-run firms to go public
She also directed the secretary to the finance ministry to analyse and identify which of the companies were eligible to get listed.
Maiden PMI points to slower business expansion in April
The PMI is a number from 0 to 100, with a reading above 50 indicating expansion and a reading below 50 representing contraction.
Dollar price rises up to Tk 125 in kerb market
Bankers said the exchange rate was already hovering at around Tk 117 unofficially, meaning the impact of easing the restrictions was yet to come about in the forex market.
Rural food inflation hit 15% in Dec: study
The national food inflation rate in the same month stood at 9.58 percent, according to the Bangladesh Bureau of Statistics (BBS).
