Business Report: Unemployment in Bangladesh rose 5.6 per cent year-on-year to 2.64 million in the second (April-June) quarter of this...
Business Report : The Bangladesh Bank’s net profit for FY24 financial year rose to Tk15,100 crore after operational expenses from higher gains in lending and dollar sales. According to the central bank’s financial statement, Tk15,100 crore from net income was deposited into the government treasury. This compares with a net profit of Tk10,748 crore in the previous financial year, with Tk10,652 crore deposited into the treasury.Gross profits for FY24 reached Tk40,000 crore.On Wednesday, the Bangladesh Bank board, presided over by...
Business Report : Stocks closed higher on Thursday, driven by buoyant investor sentiment and renewed interest in promising shares following the removal of the lower circuit breaker limit. DEX, the prime index of the Dhaka Stock Exchange (DSE), increased by 47.71 points to close the day at 5,804.42.The Bangladesh Securities and Exchange Commission (BSEC) reinstated the lower limit of the circuit breaker mechanism to 10 per cent from 3 per cent for all publicly traded companies, along with other regulatory...
Business Desk : The National Board of Revenue (NBR) has launched a new initiative targeting major tax dodgers, signaling its resolve to eliminate tax evasion and curb the creation of black money. “Yes, it’s high time for us to catch all the big fish,” a senior NBR tax official said.The official noted that under the current interim government, the NBR has an opportunity to enforce its rules and regulations without fear or favor, ensuring that no tax evaders are spared....
Business Report : President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan on Wednesday had a telephone conversation with Chief Adviser Professor Muhammad Yunus and said his country would be eager to enhance collaboration in the coming period to advance the interests of both nations and fulfil the aspirations of their peoples. Prof Yunus extended an invitation to the UAE President to visit Bangladesh at a convenient time.The UAE is one of the largest trade partners...
Business Report : Sonali Paper and Board Mills Ltd, a publicly listed concern of the Younus Group, reported a significant loss in the third quarter of the last fiscal year, primarily due to losses from its capital market investments, which adversely affected its overall earnings. In the January to March quarter, Sonali Paper recorded a loss of Tk11.88 crore, a sharp increase from the Tk2.46 crore loss reported in the same period the previous year. The company disclosed the information...
Business Report : The Bangladesh bank has dissolved the Exim Bank’s board and formed it anew with five members. The...
Business Report : Business leader and entrepreneur Sharif Zahir has been unanimously elected as the chairman of United Commercial Bank...
Business Report : Former comptroller and auditor general (CAG) Mohammad Muslim Chowdhury has been appointed chairman of Sonali Bank. Chowdhury,...
Business Report : There will be no compromise with business syndicates, finance and commerce adviser Salehuddin Ahmed said on Wednesday....
Business Report : The government has reconstituted the board of directors of Biman Bangladesh Airlines.Civil Aviation and Tourism Affairs Ministry announced the reform in a gazette notification on Tuesday, said a Biman’s press release. The newly restructured board includes a mix of high-ranking government officials and distinguished figures from various sectors. Abdul Muyeed Chowdhury, a former adviser to the caretaker government, was made chairman of the board of directors of Biman. The other people in the 13-member Biman board included...