Business Report :Leading paint-maker, Berger Paints Bangladesh has maintained its performance in the April-June quarter of the ongoing year thanks to its steady sales revenue. The company generated a net profit of Tk96.2 crore or Tk20.7 per share during the quarter, according to the financial statements uploaded on the company website. Earnings grew by 1% in comparison to the same quarter in the previous year. Berger Paints Bangladesh registered a net revenue of Tk698.6 crore over the period, which stood...
Business Report : A stalemate has arisen at the Bangladesh Securities and Exchange Commission (BSEC) over its newly appointed chairman...
Business Desk : Mustafa Qudrat-E-Elahi joined the state-owned Jamuna Oil Company Limited (JOCL) as the new managing director on Thursday....
Business Report : Dhaka Bank PLC has reached a significant milestone by obtaining the ISO 27032:2023 certification, which underscores its...
Business Desk : The 879th meeting of the Executive Committee (EC) of Shahjalal Islami Bank PLC was held on Wednesday (August 14) at the bank’s corporate head office. The meeting was presided over by Akkas Uddin Mollah, chairman of the Executive Committee, according to a media statement. During the meeting, the committee members discussed various issues related to investment opportunities across different sectors. Key attendees included Vice-Chairman of the committee Fakir Akhtaruzzaman, Director of the bank and Committee member Md...
Business Report : An International Monetary Fund (IMF) team is scheduled to visit Dhaka between October 2 and 17 to assess Bangladesh’s progress in using the third tranche of its US$4.7 billion loan program and discuss the release of the fourth installment. The Finance Division confirmed the proposed dates following a request from the IMF Bangladesh office.This third review will precede the multilateral lender’s annual meeting in Washington DC in the last week of October, according to an official letter....
Business Report : Country’s both the bourses– Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) – today plunged further...
Business Report : Opening of letters of credit (LCs) for imports increased in FY24 compared with that of in FY23 despite the Bangladesh Bank’s restrictive measures and a dollar crisis on the market. According to central bank data, LC opening increased slightly to $68.69 billion in FY24 from $68.24 billion FY23.It was $32.92 billion in July- December, 2023 against $34.78 billion in the same period in 2022. LC opening began to rise again at the start of the current financial...
Business Report : Adani Power reiterated its commitment to supplying electricity to Bangladesh, confirming that an amendment to power export rules in India would not affect its existing contracts. The Indian government’s recent rule change facilitates connectivity to the Indian grid, but does not obligate India to purchase the electricity, reports Reuters citing a company statement. Adani Power emphasised its intent to meet the Bangladesh Power Development Board’s demand schedule under the power purchase agreement. The company’s 1,600 MW Godda...
Business Report : Finance and Planning Adviser Salehuddin Ahmed said on Wednesday that prices of daily essentials will decrease gradually....
Business Report : Shomi Kaiser has resigned from her position as president of the e-Commerce Association of Bangladesh (e-CAB).She submitted her resignation letter to the executive council of e-CAB on the organisation’s letterhead on Tuesday, and requested immediate implementation. E-CAB Senior Vice President Mohammad Sahab Uddin confirmed the matter on Wednesday, saying, “She [Shomi Kaiser] has resigned citing personal reasons. “In this regard, we will make a decision later after an executive committee meeting. The constitution states that the senior...