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Deficit in current account declining for import cuts

JASIM UDDIN HAROON | 2023-05-11 00:00:00

Bangladesh sees its current-account deficit narrow, mainly following a drastic fall in import of goods and services amid forex dearth with its domino effect on services and the economy, official data show.The current-account deficit or CAD, which measures the flow...

Grameen UNIQLO to wind up BD business by mid-June

MONIRA MUNNI | 2023-05-11 00:00:00

Grameen UNIQLO, a social business initiative of Fast Retailing Co Ltd, will close all its 10 stores in Bangladesh by the middle of next month and thus end its business in the country. The company in a statement on Wednesday...

Weather (2023-05-11)

2023-05-11 00:00:00

Weather may remain dry with temporary partly cloudy sky over the country in the next 24 hours from 06:00 am today (Thursday), according to the Met Office.Severe heat wave may sweep over the districts of Rajshahi, Chuadanga, Kushtia and Patuakhali...

BGB Director General Major General AKM Nazmul Hasan exchanges pleasantries with BSF

2023-05-11 00:00:00

Border Guard Bangladesh (BGB) Director General Major General AKM Nazmul Hasan exchanges pleasantries with BSF North Bengal Frontier Inspector General Shri Ajai Singh during his visit to Banglabandha Integrated Check Post of BGB's Panchagarh Battalion on Wednesday — BGB

Titas snaps 60 gas lines in city

FE REPORT | 2023-05-11 00:00:00

The authorities of Titas Gas Transmission and Distribution Company Ltd disconnected gas lines of 60 customers in some parts of the city on Tuesday due to non-payment of bills and illegal connections.Sources said, a team from Titas Gas led by...

CAAB launches three technologies

FE REPORT | 2023-05-11 00:00:00

Bangladesh Civil Aviation Authority (CAAB) launched three digital technologies on Wednesday to provide easy and modern assistance to both foreign and domestic passengers in the Hazrat Shahjalal International Airport (HSIA), Dhaka.The three technologies are HSIA Digital Airport Service App for...

Oxfam marks 50 yrs of operation in BD

2023-05-11 00:00:00

Oxfam, a global INGO dedicated to ending poverty and inequality, celebrated 50th anniversary of its operation in Bangladesh through a daylong event on Wednesday that highlighted its achievements and showcased its future plans, says a statement.The event brought together Oxfam...

BD among countries facing highest inequality of opportunity: WB study

FE Report | 2023-05-11 00:00:00

Bangladesh is one the countries that have the highest form of "inequality of opportunity" and very low level of "intergenerational mobility of education", reveals a study by World Bank on Wednesday. Almost three decades of sustained economic growth across most...

13 BNP, JCD men remanded in Sylhet over assault on cops

2023-05-11 00:00:00

SYLHET, May 10 (UNB): A Sylhet court on Wednesday placed 13 leaders and activists of BNP and its student front Jatiyatabadi Chhatra Dal (JCD) on a one-day remand in a case over alleged involvement in police assault and obstruction of...

Gazipur city election should be a model: CEC

2023-05-11 00:00:00

GAZIPUR, May 10 (UNB): Gazipur City Corporation (GCC) election is important as there will be parliamentary elections in future, said Chief Election Commissioner Kazi Habibul Awal on Wednesday."Gazipur election is very important for us. Because there will be parliamentary elections...

Fugitive war crime accused held in city

FE REPORT | 2023-05-11 00:00:00

Rapid Action Battalion (RAB) arrested a fugitive accused in a case filed over committing crimes against humanity during the War of Liberation in 1971.The crime busting force arrested the accuse identified as Md Jafar Ali (71) conducting a raid in...

Present govt will remain in office during polls: Hasan

2023-05-11 00:00:00

Information and Broadcasting Minister Dr Hasan Mahmud on Tuesday said the elections will be held as per the constitution and the present government will perform as the election period government, reports BSS."The present government will discharge the responsibility of the...

No foreign pressure for caretaker govt, says Quader

2023-05-11 00:00:00

Awami League General Secretary Obaidul Quader on Wednesday said no foreign country proposed or imposed any pressure on government to restore the election time caretaker government and Bangladesh would witness the next election in a fair manner like any other...

Indian shares edge higher amid earnings rush

2023-05-11 00:00:00

BENGALURU, May 10 (Reuters): Indian shares advanced on Wednesday as investors parsed through a slate of major corporate earnings and looked ahead to US inflation data.The Nifty 50 closed 0.27 per cent higher at 18,315.10, while the S&P BSE Sensex...

Major Gulf markets slip ahead of US inflation data

2023-05-11 00:00:00

Major stock markets in the Gulf fell in early trade on Wednesday tracking Asian shares lower ahead of US inflation data, which could provide potential cues into the US Federal Reserve's rate trajectory, reports Reuters.Most Gulf Cooperation Council countries have...

Asian markets drift lower as US inflation data looms

2023-05-11 00:00:00

HONG KONG, May 10 (AFP): Stocks extended losses in Asia on Wednesday as traders awaited the release of US inflation data, with sentiment clouded by a range of issues including the debt ceiling standoff in Washington and banking sector uncertainty....

Agreement signed between Mamata and BRAC Bank

2023-05-11 00:00:00

A corporate agreement (employee banking) has been signed between non-governmental development organisation Mamata and BRAC Bank. Chief Executive of Mamata Rafique Ahamed was present at the signing ceremony at Mamata Auditorium in Halishahar of Chattogram on Wednesday. Mamata's Deputy Chief...

SIBL arranged client get-together and views-exchange meeting

2023-05-11 00:00:00

Social Islami Bank Limited (SIBL) arranged a client get-together and views-exchange meeting in Sylhet recently. Zafar Alam, managing director and CEO of SIBL, was present as the chief guest at the event.

Shahjalal Islami Bank celebrates 22nd anniversary

2023-05-11 00:00:00

Shahjalal Islami Bank Limited celebrates its 22nd anniversary on Wednesday. Chairman of the board of directors of the bank Mohammed Younus and Managing Director & CEO Mosleh Uddin Ahmed, among others, participated in the programme.

Trust Islami Life Insurance to make debut trading today

FE REPORT | 2023-05-11 00:00:00

Trust Islami Life Insurance is all set to hold its debut trading today (Thursday) on the Dhaka Stock Exchange and the Chittagong Stock Exchange under the category "N".Its life insurance fund escalated by Tk 64.16 million in July-September 2022 to...

MTB wins 3G Excellence in Sustainability Reporting Award

FE DESK | 2023-05-11 00:00:00

Mutual Trust Bank Limited (MTB) has been recognised by the Global Good Governance (3G) Awards for its excellence in sustainability reporting. The 3G Excellence in Sustainability Reporting Award 2023 validates MTB's dedication to sustainable practices and ethical standards within the...

Envoy Textiles' profit falls for higher cost of LC settlement

FE REPORT | 2023-05-11 00:00:00

Envoy Textiles saw a 17 per cent decline in profit in the nine months through March of FY23 to Tk 88.90 million, compared to the previous fiscal year, due to unrealised forex loss and a fall in revenue.Its profit fell...

Most multinational cos show signs of strong recovery in Jan-March

BABUL BARMAN | 2023-05-11 00:00:00

Most listed multinational companies posted higher profits in the first quarter of this year compared to the same period last year on the strength of managerial efficiency, brand value, and product price hike. The businesses performed better despite raging inflation...

US, UK say Russia exploiting hunger with grain deal delay

2023-05-11 00:00:00

WASHINGTON, May 10 (AFP): The United States and Britain on Tuesday pressed Russia to extend again a deal to export Ukrainian grain, accusing Moscow of exploiting global hunger for advantage in the war.The Black Sea Grain Initiative, in place since...

US consumer inflation eases but price pressures remain

2023-05-11 00:00:00

WASHINGTON, May 10 (AFP): Consumer inflation in the United States nudged down only slightly in April, the Labour Department said on Wednesday, despite strong efforts to cool the economy and rein in price increases.The latest number signals that price pressures...

First Quarterly Business Review Meeting 2023 (Dhaka Division) of Union Bank held

2023-05-11 00:00:00

The First Quarterly Business Review Meeting 2023 (Dhaka Division) of Union Bank Limited was held at its head office in Dhaka on Wednesday. Managing Director & CEO A B M Mokammel Hoque Chowdhury inaugurated the meeting.

Padma Bank officially inaugurated Elephant Road sub-branch

2023-05-11 00:00:00

Padma Bank Limited has officially inaugurated the Elephant Road sub-branch in Dhaka on Wednesday. Padma Bank's Deputy Managing Director & CBO Mohammed Emtiaz Uddin inaugurated it. The bank's EVP, CAMLCO & Head of Operation Syed Towhid Hossain along with other...

Meghna Bank celebrated 10th anniversary

2023-05-11 00:00:00

Meghna Bank Limited celebrated its 10th anniversary at its head office in Dhaka on Tuesday. The ceremony was attended by H N Ashequr Rahman MP, Chairman of the bank; Rehana Ashequr Rahman, Chairman of the Risk Management committee; SM Rezaur...

G Kibria & Co, Chartered Accountants celebrated 40th anniversary

2023-05-11 00:00:00

G Kibria & Co, Chartered Accountants celebrated its 40th anniversary at a city hotel recently. The photo shows State Minister for Cultural Affairs KM Khalid cutting a cake as the chief guest on the occasion. Comptroller and Auditor General Mohammed...

LGED workshop on 'City Governance Project'

2023-05-11 00:00:00

An inception workshop on 'Urban Development and City Governance Project (UDCGP)' under the Local Government Engineering Department (LGED) was held at the LGED Headquarters in Dhaka on Tuesday. Sk. Md. Mohsin, Chief Engineer of LGED, presided over the workshop, says...