Business Report : In response to the devastating floods that have ravaged parts of Bangladesh this year, Bitopi Group has pledged its support to the government’s relief efforts.The company has donated a substantial sum of Tk41.12 lakh to the Chief Adviser’s Relief and Welfare Fund, which includes contributions from its own funds and a day’s salary from all employees, officers, and workers.On Thursday, Bitopi Group Managing Director Miran Ali and Director Sara Ali presented the donation cheque to Disaster Management...
Business Report : Dhaka Bank PLC has donated has donated Tk 2 crore to the Chief Advisor’s Relief & Welfare...
Business Report : Bangladesh is showing an upward trend again in remittance sent by expatriates which exceeded $2 billion in 28 days of August.According to Bangladesh Bank’s updated report on remittance as of August 28, expatriate Bangladeshis sent $2.07 billion to the country through the formal channel.In the same period of August 2023, remittance inflow was $1.43 billion.Bangladesh witnessed the lowest remittance in the last 10 months in July 2024 amid the student movement.In July, the country’s remittance was about...
Business Report : Bangladesh’s overall external deficit nearly halved in fiscal year (FY) 2023-24, hitting the lowest mark in three years, a positive development which is expected to ease the pressure on forex reserves and reduce exchange rate volatility.At the end of FY24, the overall external deficit stood at $4.3 billion, down 48 percent year-on-year from $8.2 billion a year ago, according to Bangladesh Bank data on the Balance of Payments, which records a country’s transactions with the rest of...
Reuters, Beijing : China’s local governments have fallen behind on their debt issuance plans as scrutiny mounts over potentially wasteful...
AFP, Hong Kong : Asian markets rose Friday after a record day on Wall Street, boosted by a strong round of US data that reassured investors over the health of the world’s top economy, while focus turns to the release of key inflation figures.With the much-hyped earnings report from bellwether chip titan Nvidia now in the rearview mirror, traders are once again able to concentrate on economic matters and the Federal Reserve’s plans for interest rate cuts.Thursday did not disappoint,...
AFP, Beijing : China will not impose provisional tariffs on European brandy makers, the government announced Thursday, even though it said it had found evidence of dumping.Beijing launched an investigation in January into brandy imported from the European Union, months after the EU undertook an investigation into Chinese electric vehicle subsidies.An organisation representing French Cognac producers expressed alarm over China’s dumping claims, saying Cognac houses are “collateral damage in a conflict out of their control”.The Chinese Ministry of Commerce said...
Reuters, Mumbai : Moody’s raised India’s growth projection for 2024 and 2025 citing signs of improving rural demand, while Fitch affirmed the country’s sovereign credit rating, the agencies said in separate releases on Thursday.Moody’s now expects India’s economy to expand 7.2 percent in 2024 from 6.8 percent previously, while growth for 2025 is pegged at 6.6 percent versus 6.4 percent.“These forecast changes assume strong broad-based growth and we recognize potentially higher forecasts if the cyclical momentum, especially for private consumption,...
Business Report ঃ The 39th Annual General Meeting of Bangladesh General Insurance Co. PLC. (BGIC) virtually held on Wednesday. Chairman...
Business Report : The Bangladesh Bank has decided to extend its agricultural loan disbursement through commercial banks for the ongoing fiscal year 2024-25 (FY25) by 9 per cent year-on-year to Tk38,000 crore.The target has been raised in order to achieve GDP growth through increasing the production of agriculture in the country and to control inflation, the central bank announced at a press briefing on Thursday at the Jahangir Alam Conference Hall in its headquarters.According to the central bank, the move...
Business Report : The Japanese Commerce & Industry Association in Dhaka (JCIAD, Shoo-Koo-Kai in Japanese) and the Japanese Association in...
Business Report : Standard Chartered Saadiq Bangladesh has been recognized as the nation’s “Islamic Bank of the Year”, along with “Best Islamic SME Bank” and “Best Islamic Retail Bank” at The Asset Triple A Islamic Finance Awards 2024. This year, Standard Chartered Saadiq has won a total of 38 awards across multiple countries.The franchise has also been globally recognized as the “Sukuk adviser of the year” and “Best Islamic Bank for Digital Innovation”.These awards signify Standard Chartered Saadiq’s position as...