Stocks of Bangladesh returned to the black today after a break of three days though most of the shares either dropped or remained unchanged.

The International Monetary Fund’s (IMF) $4.7 billion credit facility will come as a relief for Bangladesh as the country faces a shortage of foreign exchanges, said the Dhaka Chamber of Commerce and Industry (DCCI) today.

Pharmaceutical company Renata Ltd witnessed a 35 per cent year-on-year drop in net profit in the October-December period due to increased price of raw material generated by the dollar crisis. 

Summit Alliance Port Limited (SAPL) posted a nearly 91 per cent spike in profit to Tk 9.95 crore in the second quarter of the current financial year of 2022-23.

Social Islami Bank Ltd (SIBL) today appointed Belal Ahmed as acting chairman for its board of directors after Md Mahbub Ul Alam resigned from the post on January 26.

Bangladesh’s gross foreign exchange is likely to stand at $30 billion at the end of 2022-23 fiscal year, lowest in four years, according to the International Monetary Fund (IMF).

The 27th edition of the Dhaka International Trade Fair (DITF) came to an end today and it fetched export orders worth Tk 300 crore.

Onnessa, a new one-stop business advisory platform for Bangladeshi women entrepreneurs, was launched today to expand economic opportunities for women in the country.

Social Islami Bank’s Chairman Md Mahbub Ul Alam and Additional Managing Director Abu Reza Md Yeahia resigned from their respective posts last week.

Bangladeshi conglomerates counted Tk 65,000 crore in losses in the last one year because of the fall of the local currency against the US dollar, which made loans costlier amid global economic volatility, a noted economist said today.

The government has launched special programme for the deputy commissioners (DCs), under which they will have to submit innovative ideas to build smart district as part of building a smart Bangladesh.

The banking sector should go through holistic reforms to strengthen the country’s financial base in order to become an upper middle-income nation by 2031, Asian Development Bank’s Country Director Edimon Ginting said.

State-run Titas Gas Transmission and Distribution Company Ltd yesterday said its profit dipped 13 per cent year-on-year in the first six months of 2022-23 fiscal year, despite it posted higher earnings in the second quarter.

The business leaders are scheduled to sit with Prime Minister Sheikh Hasina soon to review gas and power prices, as they are facing difficulties because of the high prices of the two, Commerce Minister Tipu Munshi said today.

The commerce ministry would continue its advocacy with other ministries to simplify the process of obtaining certificates and registration, including five-year trade licences, to ensure ease of doing business, Commerce Minister Tipu Munshi said today.

Leading non-governmental organisation Buro Bangladesh is going to raise funds of Tk 150 crore by issuing zero coupon bond.

The Bangladesh Securities and Exchange Commission today approved the initial public offering of Trust Islami Life Insurance to raise funds of Tk 16 crore.

Preinstallation of Bijoy app on android phones is still mandatory for the importers and manufacturers of the devices, but it is not obligatory for the users to use the Bangla writing software, Telecom Minister Mustafa Jabbar said today.

British retail giant Primark’s CEO Paul Marchant has praised the development Bangladesh’s garment sector has achieved in production of apparels in green factories.

The garment makers have urged the government to increase gas price in phases because it is tough to tolerate a sudden big hike amid the existing volatile domestic and global economic situation.