Tax collection growth on the decline

Tax collection growth slowed drastically in the first half of the current fiscal year due to falling customs tariff and direct taxes amid declining imports and reduced profits of firms, limiting the government’s scope to spend on development activities.
8 February 2023, 02:30 AM

Daraz to shed jobs

Leading e-commerce platform Daraz Bangladesh has decided to lay off dozens of employees as its mother organisation, Daraz Group, plans to reduce its workforce by 11 per cent in order to cope with the “current market reality”.
8 February 2023, 02:00 AM

Premier Bank gets two new AMDs

Premier Bank has recently promoted its two deputy managing directors to the post of additional managing directors.
7 February 2023, 18:00 PM

Oil price rises

Oil prices rose for a second straight session on Tuesday, driven by optimism about recovering demand in China and concerns over supply shortages following the shutdown of a major export terminal after an earthquake in Turkey.
7 February 2023, 18:00 PM

2 Sino-Bangla JVs to expand 35km portion

Two China-Bangladesh joint ventures are going to expand a 35-kilometre portion of the Dhaka Sylhet Highway at a cost of Tk 2,318 crore.
7 February 2023, 18:00 PM

Bangas posts 75% profit growth

Bangas Limited recorded a 75 per cent rise in its year-on-year profit in the second quarter of the current financial year.
7 February 2023, 18:00 PM

Retailers cancelling RMG orders, seeking discounts

International clothing retailers and brands are either cancelling their orders to garment factories in Bangladesh or putting them on hold because of the persisting volatility in the global economy, higher inflation, and stockpiling of unsold goods.
7 February 2023, 18:00 PM

Bangladesh made over 10cr handsets so far

Bangladesh’s mobile manufacturing industry hit a major milestone of having produced over 10 crore handsets till date, with the local plants gaining the capability of meeting almost all of the annual demand for devices in a span of just over 5 years. 
7 February 2023, 02:30 AM

United Power registers earnings drop in Q2

United Power said its earnings fell 29 per cent year-on-year to Tk 280.57 crore in the October-December period of 2022-23 as it did not receive dividends from its subsidiaries.
6 February 2023, 18:00 PM

Bangladesh now home to half of top green factories worldwide

Bangladesh became home to half of the top 100 green industrial units worldwide after KDS IDR Limited, a garment factory in Kalurghat, received platinum certification from the Leadership in Energy and Environmental Design (LEED) programme on February 1.
6 February 2023, 18:00 PM

FBCCI forms election board for its polls

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has formed a panel to oversee the election of its board of directors for the tenure of 2023-24.
6 February 2023, 18:00 PM

Inflation falls for 5th month in January

Inflation in Bangladesh declined for the fifth consecutive month in January driven by a fall in food prices, in line with global trends, official figures showed yesterday. 
6 February 2023, 18:00 PM

Huge tasks ahead for NBR to meet IMF conditions

Bangladesh will have to collect an additional Tk 234,000 crore in the three years from the current fiscal year in order to meet the International Monetary Fund’s conditions tagged with its $4.7 billion loan approved last month.
6 February 2023, 18:00 PM

ICCB workshop focuses on combating financial crimes

The International Chamber of Commerce (ICC) Bangladesh organised a daylong workshop on “Combating Financial Crimes: Means, Ways & Redress” at a local hotel in Dhaka recently. 
6 February 2023, 18:00 PM

Remove barriers for ensuring stable spice market

Businesspeople involved with the spice market in Bangladesh have urged the government to reduce the import duty on spices in order to keep the market stable in the upcoming month of Ramadan.
6 February 2023, 18:00 PM

Oimex Electrode suffers losses in FY22

Oimex Electrode Limited incurred a loss of Tk 11.07 crore in the last financial year of 2021-22.
6 February 2023, 18:00 PM

CVC Finance gets new MD

Non-banking financial institution CVC Finance has recently appointed a new managing director and chief executive officer. 
6 February 2023, 18:00 PM

Midland Bank launches ‘green PIN service’

Midland Bank yesterday launched a “Green PIN Service” with the help of IT Consultants, enabling customers to set and reset the PIN numbers of their debit, credit and prepaid cards through the bank’s website from now. 
6 February 2023, 18:00 PM

No respite from jute export slump

Earnings from jute exports from Bangladesh slumped for the second consecutive year in July-January, raising concerns for the promising industry, one of the few sectors for which raw materials are locally available.     
6 February 2023, 02:00 AM

Declare rubber as agricultural commodity

The Bangladesh Rubber Garden Owners Association yesterday presented an 11-point demand, which includes recognising rubber as an agricultural product, in a bid to help expand the local industry by removing existing hurdles.
5 February 2023, 18:00 PM