ICB Islamic Bank in dire straits

After Padma Bank, ICB Islamic Bank appears to be the next in line to be absorbed by a stronger bank under the central bank’s roadmap to clean up the banking sector and bring in corporate governance.

Foreign loan commitment jumps 300% in Jul-Feb

Although foreign aid commitments made to Bangladesh by global lenders surged more than 300 percent year-on-year in the first eight months of the current fiscal year of 2023-24, disbursement has remained almost flat.

Credit card use slightly up

Customers spent Tk 2,678 crore in Jan this year, up from Tk 2,674 crore in Dec 2023

Litchi growers expect good harvest this year

There are over 4,000 orchards dotting the district

Voice floor price: time to scrap it

Bangalees are well known for their unparalleled gift of gab. Our love for chatting is unique and deeply rooted in our culture. Whether it is at the corner shop or continuing in marathon phone calls that defy the laws of time and data plans, we Bangalees are the true pioneers of telephonic verbos

High bad loans a 'big threat' to financial sector: BB

The central bank said in quarterly review on money and exchange rate

Eastern Bank to hold AGM tomorrow

Eastern Bank will organise its 32nd annual general meeting virtually from 11am tomorrow.

Forex reserves fall by half a billion in a week

It hit $19.45 billion on March 27, down from $19.98 billion on March 20

Shares on DSE bounce back

The key index of the Dhaka Stock Exchange (DSE) bounced back today a day after it suffered a major decline.

Economy

Economy

Gazipur mill workers temporarily block highway for wage hike

Around 1,000 workers of Gulshan Spinning Mill in gazipur's Sreepur upazila blocked Dhaka-Mymensingh highway for over two and a half hours demanding an increase in salary

10h ago

Navana Pharmaceuticals receives approval for Tk 150 crore partial convertible bond

Navana Pharmaceuticals has received approval from the Bangladesh Securities and Exchange Commission (BSEC) to issue a partial convertible bond worth Tk 150 crore

16h ago

Stocks sink to lowest level in 3 years as investors sell and go away

Bangladesh’s stock market has been going through a bear run for the last two months despite petering out of election-linked uncertainty, signaling that the worries about the macroeconomic challenges are far from over.

23h ago

Removal of tax exemptions to boost revenue by Tk 30,000cr

The government can generate additional revenue of Tk 30,000 crore in the next fiscal year of 2024-25 if it reduces existing tax exemptions for various sectors, according to a noted economist.

23h ago

Govt extends power purchase contracts with Summit

The government has extended its contracts with Summit Group’s three gas-based power plants for the purchase of electricity in the next five years.

23h ago

Singer becomes first firm to start production in Japanese EZ

Singer Bangladesh, one of the leading manufacturers and retailers of home appliances in the country, has begun manufacturing products at its new factory, becoming the first entity to do so inside Bangladesh Special Economic Zone (BSEZ) at Araihazar in Narayanganj.

1d ago

Singer becomes first firm to start production in Japanese EZ

It becomes the first plant in Araihazar economic zone

1d ago

Contracts of Summit’s three power plants extended

The plants are located in Dhaka’s Ashulia, Narshingdi’s Madhabdi and Cumilla’s Chandina

1d ago
Global Economy

Global Economy

H&M's net profit doubles in first quarter

H&M said Wednesday its net profit more than doubled in the first quarter as the world's second biggest fashion retailer worked to control costs

11h ago

Toyota's global sales slide 7% in February, led by slumps in China and Japan

Toyota's US sales for February surged 16% and in Europe gained 14%, Japan sales tumbled by a third

15h ago

Analysis / What is the economic impact of the Baltimore bridge collapse?

With vessel traffic at the Port of Baltimore suspended until further notice since Tuesday's accident, experts warn of knock-on effects but say these should be manageable in the near term

16h ago

Chinese EV giant BYD announces record annual profit for 2023

BYD recorded a net profit of 30 billion yuan ($4.16 billion) last year, up 80.7 percent year-on-year from 16.6 billion yuan in 2022

1d ago

China files WTO complaint over US electric vehicle subsidies

The US Inflation Reduction Act (IRA) "formulates discriminatory subsidy policies for new energy vehicles," said China's Ministry of Commerce

1d ago

Visa, Mastercard reach $30 billion settlement over credit card fees

Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants

1d ago

Tax on provident funds' income: One country, dual policy

A provision in the Income Tax Act 2023 created the discrimination

2d ago

SWIFT planning launch of new central bank digital currency platform in 12-24 months

The move is likely to be fine-tuned to when the first major ones are launched

2d ago
Organisation News

Organisation News

Rezwanul Huque becomes CSE’s new independent director

Rezwanul Huque Khan, a professor at the Institute of Business Administration of the University of Dhaka, has recently been appointed by the Bangladesh Securities and Exchange Commission as an independent director of the Chittagong Stock Exchange (CSE) for a three-year term.

7h ago

National Finance, Nagad signs MoU on digital payments

National Finance recently signed a memorandum of understanding (MoU) with Nagad, enabling customers to use the latter’s payment service through the Nagad app.

1d ago

bKash, DataSoft organise seminar on digital payments in microfinance

Integrating digital payments in the microfinance sector can save work hours, enhance productivity, and simplify instalment and deposit collection, experts said at a seminar.

1d ago

ACI Motors opens ‘Lovol Harvester Free Service Campaign’ in Thakurgaon

ACI Motors recently launched a campaign, styled “Lovol Harvester Free Service Campaign”, for the ongoing wheat harvesting season in Thakurgaon.

2d ago

NBFI top brass to be judged on bad loan recovery

Bangladesh Bank has issued a detailed guideline today, including default loan recovery targets, alongside criteria over the appointment, reappointment and responsibilities of managing directors and chief executive officers (CEOs) of non-bank financial institutions (NBFIs).

3d ago

Malaysia’s Silverlake Group to partner with Nagad

Goh Peng Ooi, the founder and chairman of the Malaysia-based Silverlake Group, has expressed his keen interest to partner with Nagad, one of the country’s top mobile financial services (MFS) provider.

3d ago

Fair Electronics to assemble Hisense ACs and TVs in Bangladesh

Fair Electronics has announced a collaboration with global brand Hisense to assemble air conditioners (ACs) and televisions (TVs) in Bangladesh.

3d ago

Boeing CEO to step down in management shakeup amid safety crisis

Boeing Co BA.NCEO Dave Calhoun will step down by year-end, in a broad management shakeup brought on by the planemaker's sprawling safety crisis stemming from a January mid-air panel blowout on a 737 MAX plane

3d ago
Business Multimedia

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?

Sonali Bank holds meeting on RFCD, offshore Banking

Sonali Bank has arranged a meeting on enhancing facilities of Resident Foreign Currency Deposit (RFCD) accounts and offshore banking policy.

3d ago

MFS faces growing risk of fraud

The mobile financial service (MFS) has enhanced our access to goods and services, diversified payment methods, and expanded commercial opportunities, but the sector still faces challenges.

3d ago

National Bank opens relocated Maijdee Court branch

National Bank recently opened a relocated branch at Jahangir Tower in Maijdee Court in Noakhali.

3d ago

Shahjalal Islami Bank, BB strike deal on credit guarantee facilities

Shahjalal Islami Bank recently signed a participation agreement with Bangladesh Bank to provide credit guarantee facilities for green products or projects or initiatives under a refinancing scheme of the central bank.

3d ago

Mutual Trust Bank, BB sign deal on credit guarantee Products

Mutual Trust Bank recently signed an agreement with the Bangladesh Bank on credit guarantee facilities for different sectors under the central bank’s refinance schemes.

3d ago

Social Islami Bank launches ‘Remittance Campaign’

Social Islami Bank, in association with Western Union, has launched a special “Remittance Campaign” to encourage remittance inflow through banking channels.

3d ago

Dhaka bourse's index falls for second straight day

The DSEX lost 66.73 points to close at 5,834

3d ago

Summit Power posts Tk 87 crore profit in second quarter of FY24 

Summit Power Ltd (SPL) recorded a profit of Tk 87.56 crore, up 8 percent year-on-year, in the October-December quarter of the fiscal year

3d ago

IMF chief urges China to boost growth with 'pro-market reforms'

Chinese policymakers have so far resisted calls to juice the economy through massive government stimulus, instead stressing the need to pivot towards "high-quality" growth

3d ago

More households use refrigerators, ACs as income grows

Here, the steady growth of Bangladesh’s economy -- around 6 percent annually -- for the last two decades, and subsequent increases in overall buying capacity, played a big role. Another factor is the increasing domestic assembly of these items by local companies.

3d ago
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