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Business

New MDs for 10 public banks proposed

Business —21 October, 2024 22:25

The Ministry of Finance has proposed the appointment of new managing directors (MDs) for 10 state-owned banks as part of ongoing reforms in the banking…

Tk 3.61cr revenue earned from Sundarbans tourism in 2023-24FY

Over 2 lakh local and foreign tourists visited the Sundarbans…

Govt to procure 55 lakh liters soybean oil, 1.50 lakh tonnes fertilizer

The government has approved separate proposals for procuring…

Six struggling banks receive Tk 1,640 crore in liquidity support

Six financially weak banks, grappling with liquidity crises, have reportedly received a total of Tk 1,640 crore in loans by three stronger banks. Sources at the Bangladesh Bank said…

Commodity prices soar despite subsidies

Bangladesh is struggling with a surge in the prices of essentials such as sugar, lentils, and soybean oil, despite significant government subsidies. Last week, the government released…

RMG suffers around $400m losses in labour unrest: BGMEA

Bangladesh's garment industry suffered an estimated production loss of around $400 million due to the recent workers’ unrest in September and October in Savar, Ashulia, and Gazipur.…

BB simplifies forex rules

Bangladesh Bank (BB) has simplified foreign exchange rules through three separate circulars, allowing banks to remit different types of payments abroad without its approval. The rules…

Import duty on sugar, eggs slashed; VAT reduced for edible oil

The National Board of Revenue (NBR) on Thursday issued a gazette notification exempting import duty on sugar and eggs, and import and local VAT on edible oil to increase supply and…

Chinese company to invest $5.85m in Adamjee EPZ

Chinese company JIDALAI Co. Ltd. is going to invest US$ 5.85 million to set up a pullers of zipper manufacturing industry in Adamjee Export Processing Zone (AEPZ). This Chinese company…

Cyber criminals helping Russia and China target US

Russia, China and Iran are increasingly relying on criminal networks to lead cyberespionage and hacking operations against adversaries like the U.S., according to a report on digital…

Expatriates sent $986 million remittance in first 12 days of October

Bangladeshi expatriates have sent US $986 million in remittance in 12 days of October, showing an upward trend of inward remittance flow in the legal channel. According to the latest…

Poorest countries face highest debt burden for 18 years: World Bank

The world's 26 poorest economies are facing the most significant debt burden since 2006, the World Bank announced in a new report published Sunday. Government debt in these countries,…

NBR to focus on out-of-court settlement of tax disputes

The National Board of Revenue (NBR) is now putting its focus on settling the long pending cases through Alternative Dispute Resolution (ADR) system to boost the revenue collection.…

Boeing to cut 10% of workforce as it sees big Q3 loss

Boeing announced that it plans to cut 10 percent of its workforce as it projected a large third-quarter loss amid a machinist strike in the Seattle region. The aviation giant must…

WB cuts Bangladesh’s growth to 4% in FY25

Growth in South Asia is expected to increase to6.4 percent this year, exceeding earlier projections and keeping the regionon track to be the fastest growing in the world, according…

South Asia's growth outpaces expectations

Growth in South Asia is expected to increase to 6.4 percent this year, exceeding earlier projections and keeping the regionon track to be the fastest growing in the world, according…

Exports up by 6.78% in Sept

Bangladesh's export earnings in September increased by 6.78 percent despite workers' unrest in garment sector. According to the Export Promotion Bureau (EPB) Bangladesh's export…