Economy
Desire for mobile data trumps all else
As one strolls along Green Road or ventures into the depths of Karwan Bazar, he or she may come across a raucous circle formed by labourers, rickshaw-pullers, and street vendors.
Homegrown apps fail to take off
While it is not an uncommon sight to see people typing messages in Bangla on their smartphones, the familiar colours and user interface make it obvious that they are not using communication apps belonging to local companies.
National Bank’s losses jump 145% in Q1
Crisis-ridden National Bank’s financial woes have deepened further, as the bank’s losses increased by a massive 145 percent year-on-year in the first quarter of 2024.
Amnesty to black money in EZs, hi-tech park may go
An amnesty provided to black money invested in economic zones and hi-tech parks is unlikely to be continued from the next fiscal year of 2024-25 as per plans of the National Board of Revenue (NBR).
Cash subsidy for exports surges. Only garment yields expected results
The government’s cash incentive against export receipts has soared over the years although many sectors could not make their mark in the global market, bringing in limited results for the government’s diversification initiative.
Next budget will be challenging than previous years: Debapriya
High inflation, rising pressure on external account to slow down economy, the economist said
Too much of cement: production capacity outstrips demand
Competition in the cement industry of Bangladesh could become even narrower as smaller producers are at risk of going out of business due to overcapacity in production and increasingly higher input costs.
Merging minds with machines
With the news of brain chip implants, our friends joked that advertisers would run commercials in our brains if we got chips without a subscription.
‘Reserve heist’ report fake
Bangladesh Bank has dismissed a report published by an Indian digital news outlet on a “new reserve heist” at the central bank.
Bangladesh Bank says ‘reserve heist’ report is fake
It was “absolutely fake” news, Bangladesh Bank spokesman Mezbaul Haque said today.
BRAC Bank to get $50 million loan from British International Investment
The bank will support 3,500 MSMEs and women-led businesses in Bangladesh
Steel prices set to rise in Bangladesh: analysts
The US dollar rate hikes will fuel steel raw material cost, they said at Bangladesh International Trade Summit
Green Delta logs Tk 8 crore profit in Q1
Green Delta Insurance Ltd reported a profit of Tk 8 crore in the first quarter of 2024, an increase of 8 percent year-on-year
Beacon Pharma’s profit declines 7% in July-March
Beacon Pharmaceuticals, which makes more than 200 generic drugs and 65 oncology products, saw a 7.38 percent decline in profits during the July-March period of 2023-24, owing mainly to a rise in interest rates
Pressure mounts as currency outflow intensifies
The deficit in the financial account stood at $9.25 billion in July-March of the current fiscal year, Bangladesh Bank data showed. It was $2.92 billion in the first nine months of the previous fiscal year and $8.46 billion in July-February of 2023-24.
Handset production sees a slight rise amid bleak outlook
Handset production rose 5.30 percent year-on-year in the first quarter of this year to 60.74 lakh, according to the Bangladesh Telecommunication Regulatory Commission (BTRC).
Credit card use up 17% in March
Bangladesh Bank data showed that transactions through credit cards increased to Tk 3,490 crore in March. Of the amount, Tk 2,985 crore was spent within the country while the remaining was spent abroad.
April food prices cross 10%, highest in five months
According to the Bangladesh Bureau of Statistics (BBS), food inflation jumped 35 basis points to 10.22 percent last month from 9.87 percent in March. This was the first time in five months that food inflation hit double digits.
