Business Report : Banglalink has recently phased out its 3G networks, becoming the country’s first mobile operator to bid adieu to the technology, and repurposed those resources, including spectrum, to enhance the quality and speed of its 4G services. The term 4G refers to the fourth generation of mobile technology which follows the 2G and 3G networks that came before it....
Business
Business Report : The prime index of the Dhaka Stock Exchange (DSE) fell on Wednesday as wary investors went for profit booking, taking advantage of the recent market recovery with...
Business Report : The Dhaka Stock Exchange (DSE), the country’s premier bourse, has sought cooperation from Sweden-based stock exchange Nasdaq Stockholm AB with strategic and dynamic development plans. In a meeting with Nasdaq Stockholm Board of Director’s Chairman Fredrick Ekstrom on Tuesday (7 May), DSE Chairman Prof Hafiz Muhammad Hasan Babu also sought to establish a successful and long bilateral relationship with the Nordic stock exchange, according to a DSE press statement. During their meeting, Hafiz briefed Adam about different...
Business Report : Mohammed Rabiul Hossain has been re-appointed as the Managing Director & Chief Executive Officer (CEO) of Uttara Bank PLC. He started his banking career in Uttara Bank...
Business Report : Members of Parliament (MPs) have joined hands to galvanise efforts towards achieving the Sustainable Development Goals (SDGs) by fostering dialogue and catalysing actions. They expressed this commitment in a leadership session titled “Parliamentarians’ Engagement in Monitoring and Implementing SDGs: Progress and Priorities in Bangladesh” at the Jatiya Sangsad (Bangladesh parliament) on Tuesday, said a press release. The United Nations Development Programme’s (UNDP) Strengthening Institutions, Policies, and Service (SIPS) project and the Bangladesh Parliament jointly organised the session....
Agrani Bank PLC. has signed an agreement with the Directorate of Secondary and Higher Education (DSHE) regarding Performance Based Grants for Secondary Institutions (PBGSI) Scheme, SEDP on May 5, 2024, in an event at the conference room of DSHE. Director General Prof. Nehal Ahmed on behalf of DSHE and Managing Director and CEO Md. Murshedul Kabir on behalf of Agrani Bank signed the agreement. Among others, General Manager (CAMLCO) of Agrani Bank Mohammad Fazlul Karim, Director of DSHE Professor Dr....
Business Report : An International Monetary Fund (IMF) mission team led by Chris Papageorgiou reached a staff-level agreement with the Bangladesh authorities on the policies needed to complete the second review under the ECF/EFF/RSF arrangements, says a IMF press release. The staff-level agreement is subject to approval by the Executive Board, which is expected in the coming weeks. Completion of the second review will make available US$932 million, equivalent of 66 per cent of quota under the ECF/EFF and $220...
Business Report : Startup Bangladesh in collaboration with Asiatic Mindshare Ltd. and Windmill Advertising Ltd., has announced the signing of an agreement for the upcoming Bangladesh Startup Summit scheduled to take place on 27-28 July 2024. Startup Bangladesh intends to host the ‘Bangladesh Startup Summit’, aiming to bring together startups, enterprises, venture capitalists, angel investors, regulators, think tanks and experts from various countries. This summit will bring international stakeholders on board to help understand the macro trends and market realities...
Business Report : Bangladesh Bank has discontinued the SMART lending rate mechanism, transferring the responsibility to individual banks. From now on, banks will have the authority to determine their lending rates based on demand and supply dynamics, as outlined in a circular issued by the central bank on Wednesday. “To move towards a market-based interest rate, the existing reference rate SMART for determining the lending rates of banks/NBFIs is hereby abolished,” the central bank said in a resolution after the...
Business Report : Rahim Textile Mills PLC – a concern of New Asia Group – has planned to expand its capacity with a projection of increasing its annual revenue by 24%. According to the plan approved by its board, the company will install new accessories and seamless dyeing machinery at the existing factory premises. With the machinery, civil construction, local expenses, and contingency works, it will invest Tk13.73 crore, according to a stock exchange filing on 30 April. The proposed...
Business Desk : Global smartphone manufacturer vivo has officially introduced the new vivo V30 Lite in Bangladesh through a dazzling event held in the capital last Sunday, featuring celebrated musician, actor, and model Tahsan Khan, vivo’s brand ambassador. The vivo V30 Lite, recognised for its innovative colour-changing glass design, changes its backside colour instantly under sunlight, giving it a unique and avant-garde look. Complemented by a metallic high-gloss frame, the device is available in Breeze Green and Crystal Black, said...
Business Report : Stock at the premier bourse on Tuesday ended almost flat, with the turnover crossing Tk 11 billion-mark after three months, as buoyant investors kept their buying spree on lucrative shares. The investors’ enthusiasm sustained, as the institutional investors were putting fresh stakes on large-cap stocks amid high hopes, market insiders said. Favourable earnings disclosure for the recently ended quarter also prompted investors to put fresh funds on selective stocks. The DSEX, the prime index of the Dhaka...
Business Report : The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has underscored the importance of increased investment from China and bolstered exports to the Chinese market in narrowing the trade gap between the two countries. Highlighting the vast trade potential between Bangladesh and China, BGMEA President SM Mannan Kochi stressed the need for bilateral collaboration to realise these opportunities. His remarks came during a courtesy call by a delegation from the Bangladesh China Chamber of Commerce and Industry (BCCCI)...
Business Report : The 29th edition of the US Trade Show will begin in the capital tomorrow (Thursday) to showcase American products and services in Bangladesh and give a boost to the bilateral trade. The three-day show will exhibit over 100 US products represented by 44 exhibitors from home and abroad, said Syed Ershad Ahmed, president of the American Chamber of Commerce in Bangladesh (AmCham). He spoke at a media briefing on Tuesday at InterContinental Dhaka for the show, which...
Business Report : Bangladesh and the United Arab Emirates (UAE) have reaffirmed their commitment to fostering deeper economic collaboration between the two nations. The commitment was made at a meeting between Finance Minister Abul Hassan Mahmood Ali and State Minister of Foreign Trade of the UAE Dr Thani bin Ahmed Al Zeyoudi held in Abu Dhabi. The meeting underscored the shared aspirations of both countries to bolstering trade, investment, and development cooperation for mutual prosperity, said a press release. They...
