ADB forecasts 6.1% GDP growth for Bangladesh in FY24, higher than World Bank’s

The ADB’s projection comes days after the Bangladesh Bureau of Statistics said economic growth in the October-December quarter of fiscal 2023-24 halved to 3.78 percent, the slowest pace in three quarters, as manufacturing output growth declined sharply owing to reduced domestic consumption.

All member factories completed paying March salary, Eid bonus: BGMEA

BGMEA President SM Mannan Kochi says in a press briefing today

Economy grows by 3.78% in Oct-Dec, slowest in three quarters

The Bangladesh Bureau of Statistics says in quarterly GDP estimate

UCB plans to take over troubled National Bank  

United Commercial Bank (UCB) is likely to take over trouble-ridden National Bank Ltd (NBL), according to officials of the lenders. 

No respite to consumers: Inflation edges up in March

Inflation edged up in March after marginally easing in the previous month, showing no signs of respite to consumers already hurt by the consistent erosion of buying capacity due to elevated prices. 

Online ticketing platforms sprout amid quest for convenience

As such, at least a dozen e-ticketing platforms have emerged aiming to capitalise on people’s preference for convenience when availing transport facilities, according to market players.

City Bank likely to take over BASIC Bank

Troubled state-owned BASIC Bank is likely to be acquired by private sector lender City Bank as the central bank is forging full steam ahead with its plan to engineer the takeover of weak banks with stronger ones.

Loans to become overdue 3 months after repayment date

The BB said this will come into effect from September 30 this year.

BTRC to open fresh audits into GP, Robi

The decision to carry out the audits comes although the claims of the first audits into the operators haven’t been settled yet.



Workers of 3 RMG factories in Gazipur stage demo for arrears

Workers of three RMG factories demonstrated in Gazipur city’s Basan area yesterday, demanding their arrears.

2d ago

Furniture sales rebound on buying spree ahead of Eid

Following two years of dull demand, home furniture sales went up slightly in the lead-up to Eid-ul-Fitr, the biggest religious festival for the Muslim community in Bangladesh, as people went on a buying spree despite ongoing inflationary pressure, according to industry people.

2d ago

50% factories yet to pay salary of March

As of yesterday, 51.21 percent, or 4,849 out of 9,469 mills and factories, did not pay the salaries for the month of March, data from the Industrial Police showed.

3d ago

No power, gas supply for new factories outside economic zones

The central bank also directed banks to ensure mandatory clearance certificates from utility service providers before approving loans.

3d ago

Pran gets $30m from IFC amid dollar shortage

According to the IFC, the food and beverage sector, a key pillar of Bangladesh's economy, accounts for around 13 percent of the manufacturing production in value and employs 19 percent of the industrial workforce with a projected compound annual growth rate of 12 percent.

3d ago

BJMC racking up losses for payroll burden

The Bangladesh Jute Mills Corporation continues to be mired in losses due to the huge payroll burden of its 25 closed factories since 2020.

3d ago

Govt seeks duty-free access to Brazil

Bangladesh has sought duty-free access for its products shipped to Brazil to reduce the bilateral trade gap.

3d ago

New industries outside economic zones will not get electricity, gas

The cabinet committee on economic affairs says

3d ago
Global Economy

Global Economy

Bank Alfalah's profit triples

The multinational bank made Tk 43 crore in 2023, up from the previous year's Tk 13 crore

3d ago

Turning camels into cows

Megafarms are being set up to produce camel milk on industrial scales

3d ago

China pushes back at US overcapacity concerns as Yellen wraps visit

Beijing's commerce minister dismissed as "groundless" US concerns that a surge of low-cost Chinese exports posed a risk to global markets, as Washington's Treasury chief on Monday wrapped up a visit aimed in part at addressing the issue

4d ago

70% factories yet to pay March salary

Some 70% have already paid festival bonus, Industrial police say

4d ago

Leather shipment recovers, fetches $100 million in 9 months

Leather exports rose 9.8% year-on-year in Jul-Mar of FY24

4d ago

Bank of Japan hints at near-term rate hike, pushing yields higher

Ueda said the central bank could "respond with monetary policy" if currency moves significantly drive inflation and wages, suggesting sharp yen falls could affect the timing of the next rate hike

4d ago

Analysis / Elon Musk bets big on Tesla, not cars

Hopes of keeping the crown have rested on a long-promised $25,000 model. If the project gets scrapped, as Reuters reported on Friday, boss Elon Musk has one remaining advantage: using Tesla’s data trove to develop self-driving technology

5d ago

World food prices rise for first time in 7 months: FAO

Global food prices rose in March, the first increase since July, pulled higher by cooking oil prices despite the cost of grains continuing to ease, the UN's Food and Agricultural Organization said Friday

5d ago
Organisation News

Organisation News

National Housing Finance opens Islamic wing

National Housing Finance has launched an Islamic wing at the company’s head office in Dhaka today.

3d ago

Uttara University VC Prof Eaysmin Ara Lekha conferred D.Litt

Prof Eaysmin Ara Lekha, vice-chancellor of Uttara University, was conferred a Doctor of Literature (D.Litt) by Ranchi University on Friday, said a press release

4d ago

Mohsin Habib appointed as director of Berger Paints

Md Mohsin Habib Chowdhury has recently been appointed as a director of Berger Paints Bangladesh.

5d ago

Essential Drugs to get insurance services from MetLife

Essential Drugs Company, a pharmaceutical company, recently penned a contract with MetLife to provide insurance facilities to its employees.

5d ago

MA Haque’s 28th death anniversary today

Today is the 28th death anniversary of MA Haque, former minister, top ranking police officer, writer, and founder president of Bangladesh Association of International Recruiting Agencies (BAIRA), said a press release

5d ago

SM Mannan Kochi takes charge as BGMEA president

SM Mannan (Kochi), the newly elected president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), today formally took the charge of the association as the president for the 2024-26 tenure.

5d ago

Shibli Rubayat likely to be reappointed as BSEC chairman

Prof Shibli Rubayat-Ul-Islam is likely to be reappointed as the chairman of Bangladesh Securities and Exchange Commission (BSEC) for another four-year term

5d ago

Father-son duo of Envoy Legacy Group honoured with CIP  

Kutubuddin Ahmed, chairman of Envoy Legacy, Sheltech Group and Green Textile, and Tanvir Ahmed, his son and managing director of the three entities, have been recognised as Commercially Important Persons (CIP) for 2022 for their contributions to the textile and manufacturing industries

6d ago
Business Multimedia

Business Multimedia

Potato price shoots up

The price of potatoes has begun an upward climb in the market

92 thousand crores or more siphoned out in 15 years?

Based on the compilation of media reports on bank scams between 2008 and 2023, CPD said as much as 92 thousand crores of taka have been siphoned out of the banking sector in the last fifteen years

Is Bangladesh going towards a deep economic crisis?

How can Bangladesh avoid the economic crisis to deepen further?

Who will benefit from WTO's duty benefit extension?

What are WTO’s duty-free benefits?

How can Bangladesh resolve economic, political problems?

Why is Bangladesh facing economic problems? Why did the country fail to follow the IMF's loan conditions? What are the remedies?

Meghna Bank approves 12.50% dividend

Meghna Bank approved a 12.50 percent dividend, including 10 percent cash dividend, for the year that ended on December 31, 2023.

3d ago

Shahjalal Islami Bank holds 871st executive meeting

Shahjalal Islami Bank recently organised the 871st meeting of its executive committee at its corporate head office in Dhaka.

3d ago

NCC Bank gets PCI-DSS certification for card data security

NCC Bank recently achieved the Payment Card Industry Data Security Standard (PCI-DSS) certification for card data security.

3d ago

Bangladesh has capacity to become upper middle income country by 2031: ICCB

Leading chamber body’s latest news bulletin highlights challenges, opportunities for Bangladesh economy in 2024

3d ago

SC issues status quo on income tax collection from 3 private universities

The Supreme Court today issued status quo on National Board of Revenue’s (NBR's) action for collecting income tax from three private universities

3d ago

Gold price continues breaking records

The price of gold in Bangladesh is poised to surpass all previous records as the jewellers in the country have decided to increase its rates with effect from today

3d ago

Dhaka shares rise for third straight day

The benchmark index of the Dhaka Stock Exchange (DSE) extended its winning momentum as all indices of the premier bourse of the country gained for the third consecutive day today.

3d ago

City Bank eyes takeover of BASIC Bank

State-owned and trouble-ridden BASIC Bank is expected to merge with City Bank — a development that comes less than a week after the government decided in principle to merge four state banks

3d ago

IFC provides $30m in loans to PRAN Group amid dollar shortage

IFC is providing $30 million in Pran Dairy Ltd (PDL) and Habiganj Agro Ltd (HAL), concerns of PRAN Group, to support their businesses severely impacted by the shortage of US dollars in Bangladesh

4d ago

Import RMG from Bangladesh directly, PM tells Brazil

Prime Minister Sheikh Hasina today called upon Brazil to directly import readymade garments (RMG) from Bangladesh

4d ago
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