Economy
USTDA, CdNet team up for Bangladesh International Submarine Cable (Bagha-1)
The US Trade and Development Agency (USTDA) has awarded a feasibility study grant to Bangladeshi telecom company CdNet Communications Ltd (CdNet) to expand reliable internet connectivity across Bangladesh through the development of the Bangladesh International Submarine Cable (Bagha-1).
BSEC changes Z category listing rules
The Bangladesh Securities and Exchange Commission (BSEC) issued a directive yesterday repealing one criterion and adding a new one for companies to be listed as junk.
Power Grid Company to issue 250cr preference shares
The Power Grid Company Ltd on Sunday got the go-ahead from the Bangladesh Securities and Exchange Commission (BSEC) to issue preference shares against its share money deposit
AI starts to replace entry-level IT jobs in Bangladesh
It was a pretty good project for SkyTech Solutions for the last few years: generating earnings of $8.5 per hour for each of over 50 people.
How GP makes more money than Robi
The profit margin of Grameenphone Ltd was around seven times more than that of Robi Axiata Ltd in 2023.
NBR plans self-assessment of tax liabilities for all firms
The National Board of Revenue (NBR) is likely to introduce self-assessment for companies from 2024-25 to allow them to determine their own tax liabilities and cut reliance on taxmen.
Local digital marketplace for garments to boost exports
Tech giants like Amazon and Alibaba are generating millions of dollars in revenue from Bangladesh selling garments made locally in the absence of a homegrown digital marketplace capable of engaging in international trade.
Lending through agent banking rises 41%
Agents disbursed Tk 16,482.5 crore loans as of March this year, up from Tk 11,667 crore in March last year
Stocks fall for sixth straight day
Shares on the Dhaka Stock Exchange (DSE) fell for the sixth consecutive day yesterday thanks mainly to the price erosion of several large-cap scrips.
GDP expands at faster pace in FY24
Bangladesh’s economy has grown at a faster pace, albeit marginally, in the current fiscal year than the previous one although the production of industrial goods and agricultural commodities recorded reduced growth.
Tk 100cr budget for women entrepreneurs lies idle for lack of awareness
Though the government allocates Tk 100 crore in the national budget every year for the development of women entrepreneurship, not a single penny of this money gets used as the entrepreneurs lack awareness on how to ensure optimum utilisation of the fund.
BB lets bankers offer existing dollar rate to exporters
In its effort to arrest the fall in forex reserves and bring unrealised export proceeds into the country, the Bangladesh Bank today allowed bankers to offer the existing US dollar exchange rate to exporters.
ABB clarifies reasons of bank MDs' USA visit
26 managing directors are going on invitation to attend Annual US-Bangladesh Bilateral Banking Dialogue
Achieving $110b export target by FY27 is difficult
The government’s target of earning $110 billion from exports by the fiscal year of 2026-27 would be difficult to attain because of the persisting challenges in the global and local economies, economists and businesspeople said.
Online tax returns can bring $32b extra revenues annually: CPD
Bangladesh can raise an additional $32.6 billion in revenues annually within the next four years if the electronic filing of tax returns can be ensured, said the Centre for Policy Dialogue (CPD) yesterday.
Robi, Banglalink may share network resources
Mobile network operators Robi and Banglalink recently signed a memorandum of understanding (MoU) to evaluate the potential sharing and rationalisation of their network resources.
