Forex reserve falls below $30b again

Bangladesh’s foreign exchange reserves fell to $29.97 billion yesterday after the Bangladesh Bank cleared $1.09 billion of import bills through the Asian Clearing Union (ACU), an arrangement for settling payments for intra-regional transactions among eight countries, said a BB official.
6 July 2023, 18:00 PM

ICB approves Tk 20cr loan for Prime Bank Investment

The Investment Corporation of Bangladesh (ICB) has approved a loan of Tk 20 crore in favour of Prime Bank Investment Limited (PBIL), a merchant bank, from the “special fund for affected small investors of capital market” on a repayment basis.
6 July 2023, 18:00 PM

Eastern Bank wins ZTE’s award

Eastern Bank Ltd won the “Best Bank Guarantee Partner in Bangladesh 2022” award by a Chinese multinational technology company ZTE for providing quality services for the latter over the years.
6 July 2023, 18:00 PM

Threads crosses 10m users within hours of launch

More than 10 million people have signed up to Threads, Meta’s rival to Twitter, within the first few hours of its launch, the Facebook parent’s CEO Mark Zuckerberg said Thursday.
6 July 2023, 18:00 PM

Pharmaceutical exports shrank 7pc in FY23

Pharmaceutical exports from Bangladesh shrank 7 per cent year-on-year in fiscal 2022-23 due to the impacts of global economic crises and subsequent US dollar shortage in most underdeveloped countries.
6 July 2023, 00:45 AM

Now onion price on the rise

Onion prices have gone up in both wholesale and retail markets in Bangladesh in the span of a week owing to the higher cost of imported varieties of the kitchen staple.
6 July 2023, 00:30 AM

Wheat import falls for third year straight

Bangladesh’s wheat imports fell for the third consecutive year, suffered by falling consumption for high prices and banks’ sluggishness in opening letters of credit (LCs) amid the US dollar crisis, importers said yesterday.
6 July 2023, 00:15 AM

Workers’ woes won’t end as inflation outpaces wage growth

The cost-of-living crisis seems to have brought more woes for daily workers in Bangladesh than other groups of labourers as their average wage growth has been below the inflation rate for the past two fiscal years.  
6 July 2023, 00:00 AM

Senior Citi officials visit Bangladesh

Ashu Khullar, chief executive officer of Citi India and region head for South Asia, and Shekar Rajashekaran, managing director and sub-cluster head for Bangladesh and Sri Lanka, recently visited Dhaka.
5 July 2023, 18:00 PM

Banglalink launches tourist SIM

Mobile phone operator Banglalink yesterday launched tourist SIM, enabling foreign travellers to enjoy a seamless telecommunication service during their stay in Bangladesh.
5 July 2023, 18:00 PM

Rules on ‘tax deducted at source’ framed as per new tax law

The National Board of Revenue (NBR) has framed rules regarding tax deducted at source (TDS) in line with the new income tax law that came into effect last month.
5 July 2023, 18:00 PM

What does it take to be a CEO?

The role and duties of a chief executive officer have changed a lot over the last 15 to 20 years. Becoming highly knowledgeable about technology is now a job requirement. Both internal and external stakeholders have become much more demanding too.
5 July 2023, 18:00 PM

UK looks to deepen trade ties with Bangladesh

The United Kingdom is committed to working with Bangladesh closely to deepen trade and investment ties between the two countries, said UK Minister for International Trade Nigel Huddleston. 
5 July 2023, 18:00 PM

Regulator asks Banglalink to clear Tk 823cr dues

The telecom regulator has instructed Banglalink to clear dues worth around Tk 823 crore after carrying out an audit into the mobile phone operator for the period from 1996 to 2019.
5 July 2023, 18:00 PM

Wristwatch market seeing steady uptick

Wristwatches have long been considered as a status symbol for being a stylish tool that has practical uses while also being a clear indicator of the wearer’s social standing.
5 July 2023, 18:00 PM

Internet subscriber base sees growth for 4th month straight

The number of internet subscribers in Bangladesh rose by about 12 lakh in May from a month earlier thanks to an increase in the country’s mobile subscriber base.
5 July 2023, 00:45 AM

Non-traditional products that are driving exports alongside RMG

Apart from garment items, some non-traditional products played a vital role in gaining export earnings for Bangladesh even amid the global economic slowdown in the previous fiscal year.
5 July 2023, 00:30 AM

Falling exports of four major sectors raise alarm

Although Bangladesh posted a higher export growth in the just-concluded fiscal year on the back of garments and some non-traditional items, four major sectors suffered a fall, raising concerns for the economy and the employment sector. 
5 July 2023, 00:15 AM

Bond trading in secondary market still negligible

The trading of treasury bonds in the stock exchange of Bangladesh has remained low although eight months have passed since their debut on the secondary market, owing largely to higher transaction costs and a lack of awareness among individual investors.
5 July 2023, 00:00 AM

Strong legal system needed to end default loan culture

A strong legal system is required to end the default culture and stop defaulters from using writs to defer loan repayments and secure fresh credits, said Abdul Hai Sarker, chairman of Dhaka Bank Ltd. 
4 July 2023, 18:00 PM