GDP growth lowest in five quarters

Bangladesh recorded its lowest economic growth in the past five quarters in the last quarter of fiscal 2023-24 due to contractionary monetary and fiscal policies to tackle the dwindling forex reserves and high inflation.
29 October 2024, 01:08 AM

BB probe into Union Bank: ‘S Alam staffer’ took Tk 118cr sans approval

A “staffer of S Alam Group” took out Tk 118 crore from Union Bank without any approval or following any banking norms, indicating how the controversial business conglomerate used the bank.
28 October 2024, 20:33 PM

AL-linked tycoons siphoned off $17b

Bangladesh Bank Governor Ahsan H Mansur has accused tycoons linked to the toppled Sheikh Hasina regime of working with members of the country’s powerful military intelligence agency to siphon $17 billion out of the banking sector during her rule.
28 October 2024, 18:10 PM

Limiting tourism to Saint Martin's not the right move

Restricting traffic to Saint Martin's Island and stopping overnight stays will severely hamper the local tourism industry
27 October 2024, 14:05 PM

SBAC Bank’s Q3 profit jumps 158%

SBAC Bank PLC posted a 158 percent year-on-year rise in profit in the July-September quarter of this year.
26 October 2024, 18:00 PM

Mercantile Bank Q3 profit up 35%

Mercantile Bank PLC has reported a 35 percent increase in profit for the July-September quarter of this year.
26 October 2024, 18:00 PM

Berger Paints posts Tk 56cr profit in Q2

Berger Paints Bangladesh Ltd reported a Tk 56.59 crore profit for the July-September quarter of its current financial year.
26 October 2024, 18:00 PM

Nvidia overtakes Apple as world’s most valuable company

Nvidia dethroned Apple as the world’s most valuable company on Friday following a record-setting rally in the stock, powered by insatiable demand for its specialized artificial intelligence chips.
26 October 2024, 18:00 PM

Competition Commission’s role in inflation management

The rising tide of inflation in Bangladesh is more than a mere statistic; it represents a growing crisis affecting everyday lives. With inflation hitting 10.49 percent in August 2024 -- down from a staggering 11.66 percent in July -- consumers feel the pinch in their wallets.
26 October 2024, 18:00 PM

New policy for goods transport by lighters draws opposition

A recently formulated policy for transporting imported cargoes from Chattogram to different parts of the country has failed to be enforced thanks to strong opposition from importers and vessel owners, as they accused the system of posing threats to monopolise control over vessel serials and fares.
26 October 2024, 18:00 PM

Reform data first before making policies: analysts

Economists and entrepreneurs say at a dialogue organised by the Centre for Governance Studies
26 October 2024, 13:58 PM

Bangladesh Bank expands inflation battle with rate hike

The central bank raised the key policy rate by 50 basis points to 10 percent yesterday, making borrowing costlier for the 11th consecutive time to tame inflation as spiralling prices remain a headache for the interim government.
22 October 2024, 18:00 PM

Gold hovers near record high

Gold prices rose on Tuesday and hovered near a record high hit in the previous session, amid uncertainties around the US election, the ongoing Middle East tensions and expectations of central banks cutting interest rates.
22 October 2024, 18:00 PM

Proposed policy reforms conducive to business confidence

The policy reforms being considered in Bangladesh will not only improve its business climate, but also increase foreign investment in the country, according to the top official of Excelerate Energy.
22 October 2024, 18:00 PM

Domestic factors account for 74% of inflation: BB

Domestic products were the primary drivers of inflation in Bangladesh, accounting for 74 percent of the overall inflation in September 2024.
22 October 2024, 18:00 PM

Online return filing a must for certain govt officials

In a major push toward automation, the National Board of Revenue (NBR) yesterday made the online filing of tax returns mandatory for government officials under tax zones of the Dhaka, Narayanganj and Gazipur city corporations.
22 October 2024, 18:00 PM

Garment exports to EU decline 3.53% in Jan-Aug

Bangladesh retained second position in garment exports to the European Union (EU), but shipments of apparel from the South Asian country to the bloc declined 3.53 percent in the January-August period to $12.90 billion owing to political turmoil and labour unrest, according to data from the Eurostat.
22 October 2024, 18:00 PM

Revenue receipts fall 6% in Jul-Sep

Revenue collection in the first quarter of the current fiscal year showed a 6 percent year-on-year decline, raising concerns that the interim government’s fiscal space may be squeezed further amid the contractionary monetary policy.
22 October 2024, 18:00 PM

Rate hike further dampens investment mood

In an effort to curb stubbornly high inflation, the central bank’s latest interest rate hike has sparked concerns among the business community as they argue that the increased cost of borrowing will strain their existing ventures and dampen future expansion plans.
22 October 2024, 18:00 PM

Hidden financial strain of sister concerns

The financial sector in Bangladesh is grappling with a significant issue stemming from the unchecked proliferation of “sister concerns” within large local business groups.
22 October 2024, 18:00 PM