Business Report : Grameenphone, the largest mobile phone operator in Bangladesh, logged a Tk 1,338 crore profit in the first quarter of the financial year 2024, riding on reduced net finance costs and foreign exchange gains. The telecom company, the most valued scrip in Bangladesh’s stock market, reported a 72 percent higher profit in the January-March quarter from a year ago, thanks also to reduced income tax expenses, according to its unaudited financial statement posted on its website late on...
AFP, Tokyo : The weak yen is putting pressure on the Bank of Japan to tighten monetary policy, analysts say, although it is not expected to hike its main interest rate when it wraps up a two-day meeting on Friday. With the yen at three-decade lows, speculation has grown that Japan’s government could intervene in forex markets to prop up the currency for the first time since 2022. Early Friday, one dollar bought 155.58 yen, compared with 155.74 the previous...
Business Desk : Bangladesh Export Processing Zones Authority (BEPZA) has invited South Korean investors to invest more in Export Processing...
REUTERS, Denis Balibouse : Nestle denied Thursday that it was applying any “double standard” after an NGO accused the Swiss food giant of selling baby food with high levels of added sugar in low-income countries but not in wealthier nations. “There is no double standard,” the company said in a statement. “We apply the same nutrition, health and wellness principles everywhere.” In a report published last week, Swiss NGO Public Eye said that “two of the best-selling baby-food brands marketed...
Business Report : A visiting delegation from Jiangsu Soho Holdings Group Co Ltd engaged in discussions with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) regarding potential collaborations and investment opportunities in the textile and apparel sector. The delegation led by Zhou Yong, chairman of Jiangsu Soho Holdings Group met the BGMEA team headed by its Senior Vice President Khandoker Rafiqul Islam at the BGMEA complex on Wednesday. BGMEA leaders provided an insightful overview of Bangladesh’s thriving apparel industry, highlighting...
Business Report : Domestic textile millers urged the government on Tuesday to revert the gas tariff to its pre-hike level, saying the sector is facing a severe gas shortage despite the price hike. They said the government increased the gas price in January last year promising uninterrupted supply of the energy. They also demanded that the concerned authorities address the crisis related to US dollar and take required measures so that businesses do not face any harassment by Customs officials....
AFP, San Francisco : Facebook-owner Meta on Wednesday said its quarterly profits soared last quarter, but worries about the cost of artificial intelligence saw its share price take a hit on Wall Street. The company founded by Mark Zuckerberg said that net profit in the January to March period rose to $12.4 billion with total revenue, mainly from selling ads, up an impressive 27 percent, at $36.5 billion. “We estimate that more than 3.2 billion people use at least one...
Business Desk : Using bKash app, customers are getting 15% instant cashback up to Tk. 200 on payment of selected courses of 10 Minute School, the leading online educational platform of the country. The offer can be availed by selecting ’10 Minute School’ from the ‘Suggestions’ section of bKash app’s home screen till June 30. bKash customers can take a variety of courses under this offer, including 10 Minute School’s Live Courses, Language Learning and Skill Development Courses like Spoken...
Business Desk : Beximco LPG has forged a strategic partnership with Khulna City Medical College Hospital, introducing exclusive healthcare discounts...