IMF calls for smaller budget amid low revenue receipts
The IMF mission suggested that the upcoming budget, which will be unveiled in the first week of June, should be smaller than the projection, citing a low revenue collection, according to a number of finance ministry officials who attended the meeting.
Islami Bank Bangladesh’s full-year profit rises to Tk 635 crore, highest since 2019
Islami Bank Bangladesh recorded a profit of Tk 635.33 crore in 2023, the highest since 2019
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
Mutual Trust Bank to buy land for Tk 108 crore to build corporate headquarters
Mutual Trust Bank (MTB) said today that it plans to construct its corporate head office on a three-bigha plot of land, which it will purchase for Tk 108 crore
EU's new supply chain law to improve labour conditions in Bangladesh
The Parliament’s vote came on the 11th anniversary of the tragic collapse of the Rana Plaza building, which killed 1,138 garment workers and injured more than 2,000 others.
Grameenphone’s profit grows to Tk 1,338 crore in Q1
Grameenphone’s profit grows to Tk 1,338 crore in Q1
BSEC narrows circuit breaker limit to halt panic selling
The BSEC issued an order recalibrating the circuit breaker, saying that stocks of listed companies would not be allowed to fall more than 3 percent based on the previous day's closing price.
Small businesses, daily earners scorched by heatwave
After parking his motorcycle and removing his helmet, a young biker opened a red umbrella and stood on the footpath.
Bay Terminal may draw $8b FDI
The Bay Terminal project’s two container terminals, a multipurpose terminal and an oil and gas terminal will all be implemented wholly with FDI, said the CPA chairman.
Economy
Many tech startups to collapse if tax exemption goes: experts
The income tax exemption period for the software and information technology services sector is set to expire in June of this year.
SOS from SMEs
Micro, small, and medium enterprises (MSMEs), thanks to their entrepreneurial spirit and agility, have emerged as the heart of the growing economy of Bangladesh and the backbone of the financial ecosystem.
Singer incurs losses in Q1
The home appliance maker counted a loss of Tk 2.1 crore in Jan-Mar quarter
Heidelberg Bangladesh’s sales drop, but profit rises
The company gives credit to fall in administration, distribution costs and selling expenses
Stocks can fall up to 3% a day
The stock market regulator today narrowed the scope for individual stocks to fall in a trading day in an effort to halt panic selling and slow down the fall of the index.
Mohammad Abu Jafar, new managing director of Premier Bank
He has 34 years of experience in banking
Dhaka stocks slip for 2nd consecutive day
The benchmark index of the Dhaka Stock Exchange (DSE) kept falling for the second consecutive day today.
Matin Spinning’s Q3 profit soars 790% to Tk 9.5 crore
Matin Spinning Mills’ profit jumped 790 percent year-on-year to Tk 9.55 crore in the January-March quarter.
Global Economy
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
Inflation, exchange rate stability should get priority: experts
ICMAB organises a pre-budget discussion
Chinese SBS Zipper to invest $20 million in Bepza economic zone
The company will produce annually 271 million pieces of zipper and accessories
FBCCI to establish joint business council with Qatar Chamber
The council will strengthen economic ties and cooperation
Depositors’ money in merged banks will remain completely safe: BB
Accountholders of merged banks will be able to maintain their respective accounts as before
India's sugar demand surges in heat wave and election season
Consumption of cold drinks and ice cream, and as a result demand for sugar, rises in India during the summer months roughly from mid-March to mid-June
Apple's Q1 phone sales in China fall 19.1%, Huawei's up 70%
Apple's China smartphone market share fell to 15.7 percent in the fist three months of the year from 19.7 percent in the first quarter of 2023
Organisation News
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.
Visa appoints Sabbir Ahmed as country manager for Bangladesh, Nepal and Bhutan
Visa has appointed Sabbir Ahmed as the country manager for Bangladesh, Nepal and Bhutan
Prime Bank’s first-quarter profit rises 26% to Tk 131 crore
Prime Bank recorded a profit of Tk 131.34 crore in the January-March quarter of the current financial year
LafargeHolcim keen to work with environment ministry on waste management
Mohammad Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh, paid a courtesy call on Environment Minister Saber Hossain Chowdhury at his office in Dhaka recently.
StanChart executes first INR-BDT import transaction for Unilever
Standard Chartered Bangladesh (SCB) has arranged the first Indian rupee (INR) denominated trade transaction to facilitate the import of Unilever Bangladesh Ltd (UBL), the largest multinational company operating in the fast-moving consumer goods (FMCG) sector.
Aman Feed’s loss down 66% thanks to lower expenses
The loss stood at Tk 4.32 crore in the identical January-March quarter in the previous year
Meghna Insurance’s profit slightly down, recommends 10% cash dividend
Meghna Insurance Company Ltd made a profit of Tk 5.16 crore in 2023, down slightly from Tk 5.28 crore in the previous year
BRB Hospitals celebrates 10th anniversary
BRB Hospitals, a concern of BRB Group, recently celebrated 10 years of operations in the health sector.
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?
Stocks slump to 3-year low
Stock market indices dropped again yesterday after rising on the preceding day as a fact-finding meeting of the Bangladesh Securities and Exchange Commission (BSEC) failed to restore confidence among investors.
Deposits safe in banks being merged: BB
Money deposited by individuals and institutions with banks, which have decided to go for mergers, will remain completely safe and secure, Bangladesh Bank said in a statement yesterday.
Corruption major hurdle for women entrepreneurs
Corruption is a big obstacle for women entrepreneurs in Bangladesh, which is why they are lagging behind men in many categories of employment, according to a leading chamber for women.
Sustainability disclosure standards needed to access external financing
Banks and financial institutions need to embrace global sustainability disclosure standards to access international financing and promote private sector development, said Mizanur Rahman, a commissioner of the Bangladesh Securities and Exchange Commission (BSEC).
HBL Bangladesh gets new country chief risk officer
HBL Bangladesh recently appointed Nabil Mustafizur Rahman as its country chief risk officer.
Khalily becomes chairman of Bank Asia’s board audit committee
Prof MA Baqui Khalily has recently been elected as the chairman of the board audit committee of Bank Asia.
Jamuna Bank to sell Delta’s life insurance products
Jamuna Bank has signed a bancassurance agreement with Delta Life Insurance Company today.
TIB calls for halting implementation of bank merger
Transparency International Bangladesh has called for halting the implementation of the merger of banks
Dhaka stocks fall to 35-month low
The benchmark index of the Dhaka Stock Exchange (DSE) declined today, a session after snapping a five-day falling streak.
