Walmart's "Everyday Low Price" promise will be put to the test when it reports quarterly results, after rival Amazon.com's warning that customers had turned bargain hunters, pressuring the online shopping behemoth to forecast a weak current quarter, reports Reuters.Major retailers...
FE Report | 2024-08-04 00:00:00
A delegation of the Dhaka Chamber of Commerce and Industry is scheduled to leave for Vietnam on Sunday on a five-day visit to explore new business opportunities. DCCI President Ashraf Ahmed will lead the 35-member delegation, which includes exporters, importers,...
PRIME BANK SIGNS PAYROLL BANKING AGREEMENT WITH AFFIX UNIVERSE Prime Bank PLC, a leading financial institution committed to innovation and customer-centric financial solutions, has recently signed a payroll banking agreement with Affix Universe Limited at the bank's Gulshan corporate office....
Nazimuddin Shyamol | 2024-08-04 00:00:00
CHATTOGRAM, Aug 03: Small garment factories in the port city of Chattogram are crying foul over a surge in export fraud that is costing them millions of dollars, as the exporters' association says they are "very concerned" over the issue....
Hershey cut its annual profit and sales forecasts on Thursday and posted a near 17 per cent drop in quarterly sales, highlighting cautious consumer spending for its candy and chocolates, reports Reuters.Hershey had been one of the few companies to...
BP said last week it has given the green light to development of a green hydrogen facility at its Castellon refinery in Spain, reports Reuters.The British energy firm also said it was preparing to take a final investment decision (FID)...
LONDON, Aug 3 (Reuters): Euronext wheat futures ended slightly lower on Friday as the harvest progressed in France despite some rain delays and was just starting to get underway in Britain.September wheat on Paris-based Euronext settled 0.2 per cent lower...
LAUNCESTON, Australia, Aug 3 (Reuters): Asia's crude oil imports dropped to the lowest in two years in July as demand remained weak in top importer China and eased in number two India.A total of 24.88 million barrels per day (bpd)...
MANILA, Aug 03 (AFP): A 6.8-magnitude earthquake struck off the coast of the southern Philippines on Saturday, the United States Geological Survey said, but no tsunami warning was issued and there were no immediate reports of damage.The shallow quake hit...
CARACAS, Aug 03 (AFP): Venezuela braced for fresh protests Saturday, after President Nicolas Maduro's disputed election victory was ratified-and a growing number of nations recognized his opposition rival as the true winner.Both Maduro and the opposition, led by Maria Corina...
NEW YORK, Aug 03 (Reuters): US Defense Secretary Lloyd Austin on Friday revoked plea deals agreed to earlier this week with the man accused of masterminding the Sept 11 attacks, Khalid Sheikh Mohammed, and two accomplices, who are held at...
TEHRAN, Aug 03 (AFP/BBC): Iran said on Saturday it expects Lebanon's Tehran-backed Hezbollah group to hit deeper inside Israel and no longer be confined to military targets after Israel killed the Hezbollah military commander.Hezbollah has been exchanging near-daily fire with...
KHULNA, Aug 03 (BSS): Ropa Aman cultivation is continuing in full swing in four districts of the Khulna Agricultural Zone. Department of Agricultural Extension (DAE) officials said in the current Kharif-2 season of FY 2024, DAE has fixed target to...
NOAKHALI, Aug 3 (BSS) : At least three people, including a woman and her son, were killed in a road accident on the Begumganj-Feni regional highway in Dokan Ghor area of Durgapur union under Begumganj upazila of the district on...
OUR CORRESPONDENTCHANDPUR, Aug 03: Marginal farmer Bashirullah Mia has brought fortune in his life through arum cultivation in wet land at Latifpur village under Kachua Upazila of the district.Now, many small farmers are following the successful path of Bashirullah and...
The low-lying areas of Khagrachhari sadar upazila and municipality area have been inundated due to torrential rainfall and onrush of water from the upstream, leaving 1500 people stranded. Meanwhile, at least 300 tourists have been stranded in Sajek, reports UNB.In...
OUR CORRESPONDENT | 2024-08-04 00:00:00
RAJSHAHI, Aug 03: The Department of Agricultural Extension (DAE) has set up a mini cold storage with a capacity of 10 tonnes for the preservation of mangoes in Bagha upazila of Rajshahi. The cold storage has been set up on...
Question (Q): According to Bangladesh Bank's new circular, what steps have you taken regarding offshore banking?Answer (A): Social Islami Bank PLC has launched the Mudaraba International Term Deposit (MITD) Account in line with Bangladesh Bank's Foreign Exchange Policy Department's notification....
In Bangladesh, offshore banking started in the mid-1980s, targeting to serve foreign-owned enterprises in Export Processing Zones (EPZs) initially. Over time, the sector has expanded its service range. Dhaka Bank PLC secured early offshore banking licenses among the local private...
Offshore Banking was introduced in Bangladesh by Bangladesh Bank on December 17, 1985 through a circular. Since then, offshore banking has been in Bangladesh as a business unit of a bank and initially only Type A industrial entity of Export...
Offshore banking until recently has not been an issue of importance in Bangladesh. Banks did not pay any notable attention to this particular aspect of their business operations. But things have radically changed lately. Offshore banking is now getting special...
We are receiving very positive responses from both residents and non-residents residing in different countries. We are expecting to receive a significant amount of FC deposits through OBU because of the attractive interest rate, tax benefit andoperational freedom of offshore...
The recent expansion of operational freedom for offshore banking is potentially leading to notable successes, particularly in enhancing the country's foreign exchange reserves and attracting foreign investment. Since 1985, offshore banking units (OBUs) have been playing a significant role in...
Offshore Banking refers rendering separate banking services in foreign currencies within the bank following separate laws and regulations of the Regulatory bodies. Offshore Banking is not new in Bangladesh. It started its journey in 1985 as per Central Bank's instructions....
Offshore Banking Act 2024 enacted by Bangladesh Parliament with aim to reinforce the nation's foreign currency reserve and attracting foreign investment. It has the capacity to play role to alleviate country's foreign currency crisis by extending liquidity support and also...
Question (Q): Why will customers invest in your offshore banking products?Answer (A): BRAC Bank provides safety to the depositors as the bank maintains highest standard of governance and compliance. We are the highest-rated bank in Bangladesh in terms of domestic...
JASIM UDDIN HAROON & JUBAIR HASAN | 2024-08-04 00:00:00
A refurbished framework of offshore banking raises hope for repleting Bangladesh's depleting foreign-exchange reserves as commercial banks started enjoying good response, especially from the countries with significant expatriate population, to the baits staked out for foreign-currency account-holders. The new window...
Muhmmad Mahmood | 2024-08-04 00:00:00
With inflation hovering around 10 per cent and food price inflation at around 10.5 per cent annually, Bangladesh is now in the grip of a cost-of-living crisis. Official inflation figures published by the Bangladesh Bureau of Statistics (BBS) show Bangladesh's...
Twenty years ago, a 20-bed hospital was established in Goharua village of Nangalkot upazila in Cumilla with the promise of providing better healthcare to the residents of Nangalkot, Manoharganj, Sonaimuri, and Senbagh upazilas. The local community hoped that this facility...
The Dengue epidemic has become a serious threat to the people in Bangladesh, with the growing menace of Aedes mosquito during the monsoon season. Initially, concentrated in Dhaka, this mosquito species is now spreading across the entire country. This escalation...
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