NCC Bank re-elects chairmen for 3 committees

In the 506th meeting of its board of directors, NCC Bank re-elected three chairmen for three committees. They are SM Abu Mohsin for the executive committee, Md Nurun Newaz for the risk management committee and Md Obayed Ullah Al Masud for the audit committee of the board.
30 October 2023, 18:00 PM

Oil price falls over 1%

Oil slipped more than 1 percent on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution ahead of this week’s U.S. Federal Reserve meeting and other indications of global economic health.
30 October 2023, 18:00 PM

Focus on AI to bridge digital divide: experts

The best use of digital public infrastructure (DPI) and artificial intelligence (AI) will eliminate the digital divide in the country with the help of Smart Bangladesh initiative, experts said yesterday.
30 October 2023, 18:00 PM

Ensure green growth for sustainable development

Green growth would help Bangladesh build long-term resilience against climate risks and potentially achieve its vision of becoming an upper-middle-income country, according to Abdoulaye Seck, World Bank country director for Bangladesh and Bhutan.
30 October 2023, 18:00 PM

Finance company bill placed in parliament

The Finance Companies Bill, 2023 was placed in parliament yesterday aiming to curtail the practice of people defaulting on loans from non-bank financial institutions (NBFIs) in the country.
29 October 2023, 18:00 PM

FICCI reschedules 60-year celebration event to Nov 19

The Foreign Investors’ Chamber of Commerce and Industry (FICCI) has rescheduled the date of its event for “FICCI 60 Years Celebration & Investment Expo 2023”.
29 October 2023, 18:00 PM

Garment makers owe spinners more than $376m

In a letter to Bangladesh Bank and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the Bangladesh Textile Mills Association (BTMA) yesterday said garment exporters owe more than $376 million to its members.
29 October 2023, 18:00 PM

Marico’s profit grows faster than revenue

Marico Bangladesh’s profit has grown at a higher pace than revenue in the July-September quarter of the current financial year as the consumer goods manufacturer and marketer was successful in reducing the cost of sales and improve finance income.
29 October 2023, 18:00 PM

IDLC’s profit down 23% in past 9 months

IDLC Finance saw a decline in profits in the first nine months of the current calendar year due to a drop in interest and investment incomes as well as low income from commissions. 
29 October 2023, 18:00 PM

GPH Ispat’s profit falls for higher costs

GPH Ispat Ltd, a leading steel maker in Bangladesh, reported a massive drop in earnings during financial year 2022-23 due to the spiral in raw materials prices and higher cost of the US dollar in foreign currency transactions.
29 October 2023, 18:00 PM

Trade unions demand quick announcement

Trade union leaders of the garment sector yesterday urged the government to announce a “decent” minimum wage for workers as soon as possible to prevent workers from engaging in further agitations. 
29 October 2023, 18:00 PM

Onion prices jump overnight

Onion prices at wholesale and retail markets in Bangladesh rose yesterday after India set a minimum price of $800 per tonne on exports of the bulb.
29 October 2023, 18:00 PM

Daffodil Computers to open office in Dubai

Daffodil Computers, a listed computer seller and software service provider in Bangladesh, is making a strategic investment of $50,000 to establish a branch of “Daffodil Global” in Dubai, the capital of the United Arab Emirates.
29 October 2023, 18:00 PM

Foreign loan commitments surge over 600%

Although foreign aid commitments made by global lenders to Bangladesh surged more than 600 percent in July-September of the current fiscal year, the disbursement declined. 
29 October 2023, 18:00 PM

Little impact of hartal on Ctg port activities

A countrywide dawn to dusk hartal enforced by opposition parties BNP and Jamaat-e-Islami yesterday had little impact on operational activities at the Chattogram port.
29 October 2023, 18:00 PM

Fall in jobless rate raises questions

The number of unemployed people in Bangladesh declined by 1.80 lakh year-on-year in the third quarter of 2023 despite the country’s major economic indicators having slowed down.
29 October 2023, 18:00 PM

Bankers, directors to be kept out of Shariah board

No bankers and directors will be able to hold any post in the Shariah supervisory committee of banks as the Bangladesh Bank changes rules to make lenders more compliant and curb irregularities. 
29 October 2023, 18:00 PM

Bangladesh to question India's countervailing duty on jute

Bangladesh is going to defend its position and question India’s logic in imposing countervailing duty (CVD) on jute and jute goods from Bangladesh to India, said Senior Commerce Secretary Tapan Kanti Ghosh yesterday.
28 October 2023, 18:01 PM

RAK Ceramics’ profit drops

Profits of RAK Ceramics (Bangladesh) dropped in first nine months of 2023 mainly due to lower sales.
28 October 2023, 18:00 PM

United Power sees profit plunge

United Power Generation & Distribution Company Ltd saw its profits fall sharply in the last financial year because of a huge amount of foreign exchange loss incurred by its subsidiaries for devaluation of the taka against the dollar.
28 October 2023, 18:00 PM