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Staff Reporter :The Bangladesh Bank raised its key interest rate which is known as the policy rate for the third time this year from 5.50 per cent to 5.75 per cent to tackle inflationary pressure, according to a circular issued by the central bank on Thursday.Bangladesh Bank today hiked its key interest rate or policy rate by 25 basis points to 5.75 per cent with a view to containing the inflationary pressure.The latest hike came just after less than three...
Staff Reporter :Evercare Hospital Dhaka, the country’s first JCI-accredited hospital, organized a patient forum to celebrate World Heart Day 2022. The theme of this year’s Heart Day is ‘Use Heart for Every Heart’. In the press conference, the speakers discussed this year’s theme and exchanged opinions and experiences. About 18.7 million (1 crore 87 lakh) people die worldwide every year due to cardiovascular disease. The hospital authorities organized this to increase awareness about heart health and cardiovascular diseases.Professor (Dr.) Md....
Business Desk :Dhaka Chamber of Commerce and Industries (DCCI) President Rizwan Rahman said the trade and investment potential between Bangladesh and Turkiye will see high prospects in future.He said this while speaking at the Bangladesh-Turkiye Business Forum arranged by the Istanbul Chamber of Commerce in Istanbul yesterday, a press release said on Thursday, reports, BSS. An 86-member business delegation of DCCI is visiting Istanbul, Turkiye to explore new trade and investment opportunities. In the welcome address, Executive Board Member of...
BSS :The Ministry of Commerce has accepted the proposal for issuing trade licenses for at least five years instead of a one-year renewal culture to improve the ease of doing business.The Business Initiative Leading Development (BUILD) came up with the proposal at its 9th Trade and Investment Working Committee (T&IWC) Meeting.Ministry of Commerce and BUILD jointly organised the meeting at the Bangladesh Secretariat yesterday. Tapan Kanti Ghosh, Senior Secretary of the Ministry of Commerce and Md. Saiful Islam, President of...
Staff Reporter :Crony Group, a 100 per cent export-oriented garments manufacturing company, commitment to environmental sustainability is unprecedented and the entire group has decided to go for USGBC (LEED) certification.Apart from the commitment, it signed a Memorandum of Understanding (MOU) at Abanti Colour Tex factory premises between Crony Group and 360 TSL Green Consultancy Services for USGBC (LEED) certifications on Wednesday.BGMEA Director and Chairperson of Crony Group Neela Hosna Ara, former First Vice President of BKMEA and Managing Director of...
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BSS :Stocks today extended the winning streak for the second straight session as investors continued their buying spree on large-cap issues amid optimism.DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 16.50 points or 0.25 per cent to settle at 6,512.89, after gaining 7.34 points in the previous day. Two other indices edged higher. The DS30 index, comprising blue chips, gained 7.28 points to close at 2,330 and the DSE Shariah Index (DSES) rose 4.32 points...
Staff Reporter :Well Food & Beverage Company Limited, a concern of the country’s leading business conglomerate, Well Group, has signed a Memorandum of Understanding (MoU) with Ibrar Tipu Academy of Music (ITAM) in view to extend support in implementing different innovative projects and programs undertaken by ITAM.The signing ceremony took place last Monday at the head office of Well Group at RAOWA Complex, VIP Road, Mohakhali in the capital.Director of Well Group, Syed Zabeer Hassan, son of the Chairman &...
Busness Desk :Infobip, a global cloud communication company and a leader in omnichannel engagement, hosted an exclusive live event ‘Omnichannel Customer Experience for Maximizing Business Growth’ at The Westin Dhaka. The event brought together distinguished industry leaders from Bangladesh across sectors including BFSI, retail & e-commerce, and digital natives, reads a press release.An evening conference witnessed a stellar opening remark by the Director of Customer Services – India, Bangladesh, Nepal, and Sri Lanka of Infobip Shankar Iyer, who shared insights...
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Business Desk :The Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of the Chittagong Stock Exchange’s selling of a 25 per cent share to ABG Limited, a sister concern of Bashundhara Group, as a strategic investor.The BSEC gave the approval at a commission meeting held in Dhaka on Wednesday. BSEC chairman, Prof Shibli Rubayat Ul Islam, presided over the meeting.ABG Limited is offering Tk 15 for a share, but the CSE’s asking price is based on a 2016...
Business Desk :The Cabinet Committee on Government Purchase in a virtual meeting on Wednesday approved a number of proposals including the import of 90,000 tonnes of fertiliser. Finance Minister AHM Mustafa Kamal presided over the virtual meeting. The Bangladesh Chemical Industries Corporation (BCIC) will buy entire fertilisers in three separate lots from three different companies under separate contracts, reports UNB. As per the proposals, some 30,000 tonnes of bagged granular urea fertiliser will be procured from Karnaphuli Fertiliser Company (Kafco)...
Business Desk :Paramount Textile Limited has received an AA credit rating for the long term and ST-1 in the short term, based on its audited financials and other relevant information up to 30 June 2021.The ratings, announced by Alpha Credit Rating Limited, signify a company’s strong capacity to repay stockholders and a good position in the stock market.The ratings indicate a company’s financial excellence, health, franchise sustainability, and a first-class operating environment.Earlier in 2020, the rating agency rated the company...
Business Desk :China’s currency, the yuan, has hit fresh record lows against the surging US dollar, according to BBC News.The yuan has fallen below 7.2 to the dollar for the first time since a separate system for trading the currency outside mainland China was launched more than a decade ago, said the Wall Street Journal.China’s domestic currency also reached its weakest point since the 2008 global financial crisis, the BBC reported.It comes as the dollar continues to rise in value...
Business Desk :Stocks closed marginally higher Wednesday, after a three-day losing streak, as bargain hunters showed their buying interest on selective issues.The market opened on a positive trend and the key index of the premier bourse rose 30 points in the first half of the trading session. But, selling pressures at the last moment wiped out most of the early gains.DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), finally went up by 7.34 points or 0.11 per cent...
Business Desk :The non-bank financial institutions have demanded withdrawal of the 7 per cent interest cap on deposit.They came up with the demand at the first meeting of the Federation of Bangladesh Chambers of Commerce and Industry’s standing committee on non-banking financial institutions, held at the FBCCI office in Dhaka on Wednesday. As per the instruction given by Bangladesh Bank, NBFIs cannot offer more than 7 per cent interest on deposit, which is lower than the banks offer to their...