Fly High / How helicopters took Dhaka’s denizens to the skies
Over 10 companies now have 36 choppers due to increased demand
Demand for air ambulances on the rise
The demand for air ambulances has grown steadily in Bangladesh in recent years due to rising affordability and entry of a number of operators.
NBFI deposits rise, but account numbers fall
Deposits at non-bank financial institutions (NBFIs) have increased slightly thanks to flexible interest rates but the number of deposit accounts have dropped sharply, indicating a lack of trust.
Oceangoing vessels sail past 100 milestone
The number of oceangoing vessels that are Bangladesh-flagged has already gone past 100, a milestone illustrating the country’s noticeable expansion in cargo-carrying capacity.
Private sector’s foreign borrowing reverses downward trend
The private sector’s short-term foreign debt in Bangladesh made a turnaround for the first time in more than a year in April, handing a much-needed fillip to the foreign currency reserves.`
3rd tranche of loan: IMF board to meet on June 24
The International Monetary Fund will discuss releasing $1.15 billion in the third instalment of its loan to Bangladesh during its board meeting on June 24. This is part of the IMF’s $4.7 billion loan programme for the country.
Forex reserves to get $2b boost
Bangladesh’s foreign currency reserves are set to receive as high as $2 billion this month, which may send the total to nearly $21 billion, handing a much-needed relief to the US dollar supply.
Economist questions growth and inflation targets for FY25
It may not be possible to simultaneously achieve both high growth and ensure macroeconomic stability as outlined in the proposed budget for the upcoming fiscal year, an expert said yesterday.
Why are Chinese electric cars in EU crosshairs?
The European Union said this week it would slap additional tariffs of up to 38 percent on Chinese electric cars from next month after an anti-subsidy probe.
Economy
Nailing the first impression
The magic of “love at first sight” can cast its spell with no warning. We often underestimate its mystical power to determine the course of our personal and professional lives, whether it happens during a job interview or when we meet the love of our life. Being lucky in both may sound rare, but we can make it a possibility if we apply some tricks with sincerity and dedication in both situations.
Renata PLC launches new Dermatological Drug in the UK market
Renata has shipped the first consignment of Terbinafine 250 mg tablets, worth £1.5 lakh to the UK market. The product is being supplied directly from its factory located in Rajendrapur, Gazipur.
Supportive pillars of economy have become weak
Almost all the entities that help prop up the economy, such as banks, the stock market and regulatory bodies, have turned weak in Bangladesh over the last 50 years, said former Bangladesh Bank (BB) governor Salehuddin Ahmed yesterday
Forex reserves rise by $538m in a week
Bangladesh's foreign currency reserves have reached $19.2 billion, an increase by $538 million from a week ago
Pandemic-induced new poor left unprotected
“Before the pandemic, people saw that we were afloat. People knew that we could eat, support our households. We were more or less okay before the coronavirus pandemic. That is why people did not help us and we could not hold out our hands,” said Rashed, summing up perfectly how the lower-middle-income families were in between a rock and a hard place during the health crisis.
Return filing a must for hotels, restaurants and clinics
Nearly five lakh additional establishments are expected to come under the tax net as the government is going to make proof of submission of return (PSR) mandatory for hotels, restaurants, clinics, and diagnostic centres.
Where can you buy cattle without cash this Eid?
Anyone unwilling to deal with the hassle of carrying a large amount of cash to buy sacrificial animals for Eid-ul-Azha can now make their life easier by visiting a cattle market offering cashless transaction facilities.
HC postpones NRBC Bank’s AGM
The High Court postponed NRBC Bank’s annual general meeting slated for today, following a writ petition alleging irregularities at the bank.
Global Economy
IMF releases Sri Lanka loan despite restructure delays
The International Monetary Fund released $336 million as part of a bailout loan instalment for Sri Lanka despite delays in the crucial restructuring of its foreign debt, including to China, the Washington-based lender said Wednesday.
Germany warns of trade war over EU’s China EV tariffs
The EU’s threat to hit Chinese electric cars with additional tariffs following an anti-subsidy probe risks a “trade war”, Germany said Wednesday, as the country’s auto giants warned the move would backfire.
Oil and gas industry hops on generative AI bandwagon
Away from the Microsoft and Googles of the world, a century-old industry -- oil and gas -- is hoping that generative artificial intelligence will make producing petroleum more efficient and easier on its workforce.
EU to impose tariffs of up to 38% on Chinese EVs
The European Commission notified car makers on Wednesday that it would apply additional duties of up to 38.1 percent on imported Chinese electric vehicles from next month, a move likely to draw possible retaliation from China.
Trade via Akhaura land port to remain suspended for 4 days from June 16
Export, import through Akhaura will resume on June 20
Bangladesh economy to grow 5.7% in FY25: WB
The World Bank's prediction is much lower than govt projection of 6.75%
Analysis / Price cuts will lift US vibes only so much
Since 2019, the 25 percent of American workers with the lowest wages have been paid 5.4 percent more a year on average, compared with 3.8 percent raises for the country’s top 25 percent of earners
China's discount wars risk cementing frugal consumer mindset
An aggressive market grab by low-cost Chinese retailers has delivered bumper earnings for some firms but has also intensified a bruising price war, exacerbating deflationary fears in the world's second-largest economy
Organisation News
NRBC Bank approves 11% cash dividend
NRBC Bank approved an 11 percent cash dividend for the year 2023 at its 11th annual general meeting (AGM) yesterday
Midland bank approves 5% cash dividend in 11th AGM
Midland Bank approved a 5 percent cash dividend for the year 2023 at its 11th annual general meeting (AGM) held at the Kurmitola Golf Club in the capital yesterday.
Mutual Trust Bank signs deal with D Money Bangladesh
Mutual Trust Bank PLC (MTB) launched a new partnership with D Money Bangladesh Ltd for a range of digital services
National Housing Finance opens Sales Center at Aftabnagar
National Housing Finance PLC opened its Aftabnagar Sales Center in the capital recently
Jamuna Bank signs deal with Mana Bay
Jamuna Bank PLC signed an agreement with Splash Works Water Park Ltd (Mana Bay) recently at Jamuna Bank Tower, Gulshan 1, Dhaka
Premier Bank approves 12.5% cash dividend
Premier Bank PLC's board of directors recently approved a 12.5 percent cash dividend for 2023 at its 25th annual general meeting (AGM) held digitally
National Bank launches Bangla QR code
National Bank Ltd officially launched the Bangla QR code-based service at its head office recently
Shimanto bank opens sub-branch in Jubilee Road
Shimanto Bank inaugurated a sub-branch in Chattogram’s Jubilee Road recently
Business Multimedia
Potato price shoots up
The price of potatoes has begun an upward climb in the market
92 thousand crores or more siphoned out in 15 years?
Based on the compilation of media reports on bank scams between 2008 and 2023, CPD said as much as 92 thousand crores of taka have been siphoned out of the banking sector in the last fifteen years
Is Bangladesh going towards a deep economic crisis?
How can Bangladesh avoid the economic crisis to deepen further?
Who will benefit from WTO's duty benefit extension?
What are WTO’s duty-free benefits?
How can Bangladesh resolve economic, political problems?
Why is Bangladesh facing economic problems? Why did the country fail to follow the IMF's loan conditions? What are the remedies?
Trade through Burimari land port to remain shut for 7 days
The export and import activities through Burimari Land Port in Patgram upazila of Lalmonirhat will remain suspended for seven days from June 15 due to Eid-ul-Azha, the second biggest religious festival for Muslims
Prime Bank signs payroll banking agreement with ABR-MASAFI Group
Prime Bank PLC recently signed a payroll banking agreement with ABR-MASAFI Group
Berger Paints Bangladesh inks deal with Edison Real Estate
Berger Paints Bangladesh Ltd has signed an agreement with Edison Real Estate Ltd, a subsidiary of Edison Group, at the developer’s corporate office in Tejgaon, Dhaka recently.
Prime Bank signs deal with British Asian Trust and SAJIDA Foundation to donate funds
Prime Bank PLC has signed a memorandum of understanding (MoU) with British Asian Trust and SAJIDA Foundation at the bank’s Gulshan corporate office yesterday
ACI Marine signs agreement with Khulna Shipyard
ACI Marine & Riverine Technologies Ltd, a concern of ACI Ltd, has inked an agreement with Khulna Shipyard Ltd, for the supply of Mitsubishi Marine Engines
AB Bank holds AGM, 2% stock dividend approved
AB Bank PLC approved a 2 percent stock dividend for the year 2023 at its 42nd annual general meeting (AGM) at Sena Malancha, Dhaka yesterday.
Gold rush grips Asia despite near-record prices
Demand for gold in Asia is surging despite prices hovering near the record highs it hit in May, industry officials say, as buyers snap up the metal to hedge against geopolitical and economic uncertainty.
Stocks rebound after falling for three days
Stocks returned from losses yesterday, reflecting buying sentiment among investors after a three-day decline as the tax measures for the next fiscal year had left them disappointed while concerns over unfavourable macroeconomic conditions persist.
High bank borrowing by govt to crowd out private sector
The government plans to borrow Tk 137,500 crore from the banking sector in the fiscal 2024-25 to finance the budget deficit. If the Bangladesh Bank does not provide any fund, the entire amount will need to come from the commercial banks.
Three major barriers to economy’s progress
Strategic inefficiency, institutionalisation of corruption, and a lack of accountability are the three major barriers blocking the smooth progress of the economy, said economists, entrepreneurs and politicians yesterday.