Economy
Islami Bank dethrones Sonali Bank to become largest lender by deposits
Islami Bank Bangladesh PLC has become the largest lender in the country by total deposits for the first time, surpassing Sonali Bank PLC, despite loan scams in recent years.
Economy in FY25: Is there any light at the end of the tunnel?
There is hope that the major challenges Bangladesh is facing due to high inflation and the foreign reserve crisis will stabilise gradually in fiscal year 2024-25, but consistency in maintaining a strict policy stance will be imperative to that end.
VAT exemptions dropped 17% in 2022
The National Board of Revenue (NBR) exempted various goods and services from value-added tax (VAT) payments to the tune of Tk 129,570 crore in 2022 to give some relief to citizens and facilitate industrialisation, thereby accelerating economic growth.
No visible progress in signing Cepa with India
Bangladesh and India are yet to begin the formal negotiation to sign the Comprehensive Economic Partnership Agreement (Cepa) although nearly two years have passed since both countries agreed to kick off the talks.
Saudi Arabia may cut oil prices for Asia for second month in August
Top oil exporter Saudi Arabia may cut prices for crude grades it sells to Asia for a second month in August, tracking weakness in Middle East benchmark Dubai, trade sources said on Friday.
AI set to revolutionise agriculture in Bangladesh
Agriculture, the backbone of Bangladesh’s economy, is on the brink of a technological revolution. With agriculture contributing approximately 13.6 percent to the national GDP and employing nearly half of the workforce, advancements in artificial intelligence (AI) offer an unprecedented opportunity to enhance productivity and sustainability in the sector.
Dhaka looks to Beijing for fresh loans
Talks on Chinese loan proposals will be at the fore during Prime Minister Sheikh Hasina’s upcoming visit to Beijing.
Move to get GI status for Sundarbans' honey finally gathers steam
Seven years after an application by the deputy commissioner of Bagerhat district, the Department of Patents, Designs and Trademarks (DPDT) has finally taken the initiative to register Sundarbans' honey as a GI (geographical identification) product.
Public Procurement Authority, IMED sign deal on APA
The Bangladesh Public Procurement Authority (BPPA) today signed the first-ever annual performance agreement (APA) with the Implementation Monitoring and Evaluation Division (IMED) for fiscal year 2024-2025
Payment period for raw material imports extended till Dec
The previously fixed 360-day usance period ended today
BAF receives 5th C-130J Super Hercules aircraft
Bangladesh Air Force received their fifth C-130J Super Hercules aircraft from the UK last week
Terminal 3 of Dhaka airport will be under 5G coverage by Oct: Palak
The state minister for telecom and ICT shared the info at BTRC event
Linde Bangladesh’s profit plunges 40% in 2023
The industrial gas manufacturer made a profit of Tk 52.56 crore in the year that ended on December 31
Jamuna Bank to set up asset management company
Asset management companies invest pooled funds from clients into various securities and assets
Telecom operators have to compensate for call drops: Palak
The state minister for telecom and ICT discussed service quality of telecom operators at BTRC event
High inflation, NPLs disrupting post-pandemic recovery: ICCB
The economy of Bangladesh has rebounded from the Covid-19 pandemic, but high inflation, a balance of payments deficit, financial sector vulnerabilities, and global economic uncertainty continue to hamper recovery, said Mahbubur Rahman, president of the International Chamber of Commerce Bangladesh (ICCB).
Black money holders get amnesty
Parliament yesterday approved a provision that will allow black money holders to legalise their undisclosed wealth without any scrutiny by paying a 15 percent tax, disregarding widespread condemnation from various quarters.
