Business Report : The United States Agency for International Development (USAID) and Visa have announced a Memorandum of Understanding (MoU)...
Business Report : To meet the increasing demand for visits between the two countries, China Southern Airlines will inaugurate a...
Business Report : Islamic Finance and Investment Limited, a non-bank financial institution (NBFI), incurred a loss of Tk23 crore in 2023. This marks the first time the institution has reported a financial loss. Officials attribute the primary cause of this loss to the necessity for higher provisions due to an increasing number of defaulted loans. As a result of the loss, the NBFI was unable to recommend dividends to its shareholders for the first time since its listing on the...
Business Report : BRAC Bank has introduced a new ‘VISA Platinum Flexi Credit Card’ exclusively designed for the youth and young professionals aspiring to elevate their lifestyle. The new credit card comes with a wide range of lifestyle, travel, hotel stay, and dine-in benefits for cardholders at a competitive annual fee. The card’s welcome pack offers discounts at electronic shop Gadget & Gear, travel partner ShareTrip, fashion outlet Artisan, restaurant partner Six Seasons Hotel and resort partner Dera Resort &...
UNB, Dhaka : The government’s decision to cut export incentives in the current fiscal year in almost all sectors has garnered mixed reaction from business leaders. The government defends the move saying that after the country graduates from least developed country (LDC) status in 2026, the export subsidy would be withdrawn fully. The move is also aimed at reducing pressure on state expenditures in line with IMF’s advice and encouraging exporters to prepare to meet global competition by increasing their...
Business Report : Anwar Hossain Chowdhury, former Additional Secretary (Grade-1) of the Government of the People’s Republic of Bangladesh, joined...
Business Report : Sandhani Life Insurance has declared a 12 per cent cash dividend to its shareholders for 2023, maintaining the same rate as the previous year. The declaration came at a meeting of the company’s board of directors held on Saturday. The life insurer will conduct its annual general meeting on 25 September to approve the dividend, with the record date set for 29 July. At the end of 2023, the company’s consolidated earnings per share stood at Tk1.10,...
Business Report : Md Anwar Hossain, additional secretary to the government, joined the Export Promotion Bureau (EPB) as vice-chairman on...
Business Report : NRB Bank Limited has been approved 16 per cent dividend for its shareholders. Among them 10% is cash dividend and 6 per cent is for sponsors & directors for the year 2023. The delaration came out through its 11th annual general meeting (AGM) held recently at Renaissance Dhaka Gulshan Hotel. Mohammed Mahtabur Rahman, chairman of the bank, presided over the meeting. Among others, vice chairman Golam Kabir, chairman of the audit committee Md Motior Rahman, directors Bayzun...
Business Report : The Asian Infrastructure Investment Bank (AIIB) will provide $400 million to Bangladesh as budget support for implementing the “Climate Resilient Inclusive Development Programme – Subprogramme1.” In this regard, the government of Bangladesh signed a loan agreement of $400 million (JPY 62,773,999,681) as budget support with the AIIB on June 27 to implement the “Climate Resilient Inclusive Development Programme – Subprogramme1,” reports BSS. Mirana Mahrukh, additional secretary of, the Economic Relations Division (ERD) and Rajat Misra, acting vice...
Business Report : Sonali Bank PLC was awarded for securing the top position among all the government banks in implementing...