Business Report : Leading local drugmaker Renata is going to sign an agreement with International Finance Corporation (IFC) to avail a foreign loan of $60 million. The fund will be handed over to Renata as working capital and its tenure will be six years, according to a posting of the company on the website of the Dhaka Stock Exchange. The drug manufacturer has recently received approval from its board of directors to go for the signing of the deal with...
Business Report : Turnover at the Dhaka Stock Exchange crossed the Tk 700-crore mark on Thursday after one and a half months as scrips of the bourse extended a rally for the third consecutive day riding on gains in large-cap shares. Turnover, which indicates the volume of shares traded during the session, increased 16.64 percent to Tk 705 crore compared to the previous trading session. Large-cap stocks such as Renata, Square Pharmaceuticals, Beximco Pharmaceuticals, Grameenphone, Olympic Industries, Saif Powertec, Heidelberg...
Business Report : Excess liquidity in Islamic banks dropped by Tk5,125 crore to Tk1,518 crore at the end of March 2024 compared with that of Tk6,643 crore in December 2023 Excess liquidity in the country’s Shariah banks nosedived by 77 per cent in March 2024 compared with that in December 2023, driven by a trust deficit. According to Bangladesh Bank data, excess liquidity in Islamic banks dropped by Tk5,125 crore to Tk1,518 crore at the end of March 2024 compared...
Business Report : Bangladesh Bank (BB) on Thursday extended the time for the disbursement of loans under a Tk 5,000 crore refinance scheme to support farmers to get loans to grow crops and ensure food security for the country. There is demand for this scheme. So, the deadline for disbursing loans under the scheme has been extended to December 31 this year, the central bank said in a circular. The BB formed the refinance fund for banks in November 2022...
Business Report : Thursday marked the official launch of the “Advancing Decent Work in Bangladesh” project, a collaborative initiative between...
Business Report : Rapid urbanisation and rural-urban migration is affecting nature, human lives, and resources. Major cities in Bangladesh, including Dhaka and Chattogram, face management challenges such as traffic, waterlogging, pollution, and earthquake risks. As building sustainable cities has become a priority in many regions worldwide, planned and sustainable urbanisation is essential for economic development in Bangladesh, aligning with SDG-11. Experts recommended using modern technologies and learning from the best practices of other megacities to resolve the pressing urban challenges...
Business Report : Agrani Remittance House, Malaysia, a subsidiary of Agrani Bank PLC, conducted an awareness program on remittance through...
Business Report : Mohd. Safwan Choudhury has been reelected as Vice Chairman of Bank Asia PLC at the meeting of the Board of Directors held recently, said a press release. Choudhury is an eminent industrialist of Bangladesh. He is a former president of Sylhet Chamber of Commerce & Industry. He is also the managing director of M Ahmed Tea & Lands Co. Ltd, Phulbari Tea Estates Ltd, M Ahmed Cold Storage Ltd, Premier Dyeing & Calendaring Ltd and M Ahmed...
Business Report : A high-level delegation team from the German Embassy in Dhaka visited Bangladesh’s electronics giant Walton Hi-Tech Park on Thursday at Chandra in Gazipur. At the press briefing after the visit, German Ambassador (Charge De Affairs) Jan Rolf-Janowski said: “Today I have seen Walton’s state-of-the art production facility with own eyes. And, I have seen the future of Bangladesh in manufacturing hi-tech products, value-addition and backward linkage products.” He assured Walton of continuing all the support provided by...
Business Report : Value addition in the country’s readymade garment (RMG) sector reached a record 72.20 per cent in the third quarter (January-March) of the current financial year 2023-24 compared with that of 71.06 per cent in the same period of FY23. This growth was primarily driven by increased shipments of knitwear products and other high value-added items, exporters said. According to a Bangladesh Bank report “Quarterly Review on RMG: January-March FY24”, the import value of raw materials, including raw...