ACC approves charge sheet against Yunus, 13 others

The Anti-Corruption Commission (ACC) has approved a charge sheet against Nobel laureate Dr Muhammad Yunus and 13 others for allegedly embezzling Tk 252.20 million from Grameen Telecom's Workers' Profit Participation Fund.The commission at a meeting at its headquarters on Monday...

Onion prices soar even during peak harvest

Onion prices have shot up by at least Tk 15 per kilogramme in just three days, reaching Tk 100-130 per kg on Monday, according to market sources. This surge comes during the peak harvesting season of the kitchen staple, adding...

BD seeks preferential migration of its citizens to Canada

Dhaka has requested Ottawa for preferential migration for its citizens to Canada.Foreign minister Dr Hasan Mahmud made the request when Canadian High Commissioner Dr Lilly Nicholls paid a courtesy call on him at the former's office on Monday.Talking to the...

Cardiac stent supply narrows as importers balk at price cuts

A recent cardiac-stent price cut by the drug regulator has triggered a standoff with some key importers, disrupting treatment for heart patients in major hospitals in Dhaka and exacerbating woes for an already-dollar-strapped healthcare-equipment supply. The halt in supply by...

Briefing 2024-01-30

Prayer Timings (2024-01-30)

Smoke-belching brick kilns on Dhaka's outskirts

Smoke-belching brick kilns on Dhaka's outskirts blamed for worsening air quality. Environment Minister Saber Hossain Chowdhury says nearly 500 illegal kilns near the city will be demolished in three months. — FE Photo by KAZ Sumon

Hunt for $6.0b foreign loans launched

A search for pulling US$6.0 billion in loans from foreign lenders gets going as the government now bids for implementing two gigantic MRT-line projects to upgrade Dhaka's still-troublesome traffic system, officials said.The two more metro lines will require Tk 892.36...

Call money costs overflow interest rate corridor

Call-money costs overflow set interest-rate corridor amid banks' scrambles for liquidity refill, prompting suggestion for a rethink on the upper-ceiling cap in lending in such time of fund crunch. The Bangladesh Bank (BB)-implemented interest rate corridor (IRC) comes under extreme...

President addresses inaugural JS session today

President Mohammed Shahabuddin will address the inaugural session of the 12th parliament starting at 3:00 pm today.In line with the parliamentary practice, the President addresses the first parliamentary sitting every year, reports BSS.Earlier, he convened the first parliament session of...

PM directs duty cut on rice, edible oil, sugar, dates before Ramadan

Prime Minister Sheikh Hasina Monday directed the authority concerned to reduce the import duty on four essential items - rice, edible oil, sugar and dates- ahead of the upcoming Ramadan for price control.The directive came from the cabinet meeting chaired...

Liquidation and mergers loom over frail ins firms

Liquidation and merger loom over some troubled insurance companies, which lost financial abilities allegedly due to flagrant irregularities and embezzlement, as the regulator has recommended such remedy, sources said. These insurance companies even did not make further effort for improving...

SBLC organised a two-day training on `Shari`ah Compliance in Islamic Banking Business'

Standard Bank Learning Center (SBLC) organised a two-day training on `Shari`ah Compliance in Islamic Banking Business' recently. Md Habibur Rahman, Managing Director & CEO of the bank, inaugurated the training as the chief guest while Deputy Managing Director & head...

'Annual business budget strategy summit 2024'

The 'Annual business budget strategy summit 2024' of Institutional Banking Division, SME Division and Treasury Division of Midland Bank, was held at the bank's head office in the capital recently. Md. Ahsan-uz Zaman, managing director & CEO of the Bank,...

MTB and Guardian Life Insurance signed a bancassurance agreement

Mutual Trust Bank (MTB) and Guardian Life Insurance Limited have signed a bancassurance agreement recently. Syed Mahbubur Rahman, managing director & CEO of MTB, and Sheikh Rakibul Karim, CEO of Guardian Life Insurance Limited, were present at the signing ceremony...

Meghna Petroleum's income rises but Padma Oil's declines

Petroleum product marketer Meghna Petroleum gained a higher profit in the second quarter of FY24, compared to the same period a year earlier, despite a decline in earnings from its core operations.On the other hand, Padma Oil saw its income...

Olympic's profit growth slows in Q2

Olympic Industries' profit grew less than one per cent to Tk 591 million in October-December 2023, compared to the same quarter of the previous year.The country's leading biscuit manufacturer's earnings per share stood at Tk 2.96 for the quarter, up...

Beacon Pharma sees slower profit growth in Q2 on higher costs

Beacon Pharmaceutical's profit growth slowed down year-on-year in October-December 2023, despite a higher sales growth, owing to a rise in operating expenses and finance cost.The drug maker's profit growth decelerated to 2.96 per cent between the second quarter of FY23...

Singer's profit soars 615pc on product price hikes

Singer Bangladesh's profit soared 615 per cent to Tk 522 million last year, compared to the previous year, as it increased product prices to offset rising cost. The earnings per share (EPS) went up to Tk 5.24 for the year...

Sweden's economy shrinks by 0.3pc in 2023

STOCKHOLM, Jan 29 (AFP): Sweden's economy shrank by 0.3 per cent in 2023 but technically emerged from recession in the last three months of the year, official statistics showed on Monday.One of the weakest performers in the European Union, the...

European banks' strong run faces major test with earnings

FRANKFURT, Jan 29 (Reuters): European banks' run of soaring profits and record shareholder payouts faces a big test this week when investors assess how fast the boost from higher interest rates is fading, and if a weak economic outlook will...

Qatar records over $5b trade surplus despite export decrease

RIYADH, Jan 29 (Arab News): Qatar reported a positive foreign merchandise trade balance for December 2023, with a surplus of nearly 18.7 billion Qatari riyals ($5.13 billion).Recent data from the Planning and Statistics Authority revealed that the overall surplus represented...

China’s growth model pushes Beijing into trade conflicts

BEIJING/FRANKFURT, Jan 29 (Reuters): Swiss solar panel maker Meyer Burger is facing the brunt of competition from China and is warning it may have to close its loss-making production plant in Germany unless the government steps in with financial support."Chinese...

HK court orders liquidation of property giant China Evergrande

HONG KONG, Jan 29 (Reuters): A Hong Kong court on Monday ordered the liquidation of property giant China Evergrande Group, dealing a fresh blow to confidence in the country's fragile property market as policymakers step up efforts to contain a...

IKEA cuts prices to boost sales as raw material costs ease

LONDON, Jan 29 (Reuters): IKEA is investing in price cuts on some products across a range of countries, including Belgium, Canada and India, as the furniture retailer aims to unwind increases it introduced in 2022.The main IKEA retailer said it...

Toyota suspends shipments of 10 models on testing irregularities

TOKYO, Jan 29 (AFP): Toyota said Monday it was suspending shipments of 10 models that use engines linked with testing irregularities at an affiliate company.The affiliate, Toyota Industries, did not conduct proper horsepower output testing for the certification of three...

BANK ASIA SIGNS AGREEMENT WITH RURAL DEVELOPMENT ACADEMY

Bank Asia Limited has signed an agreement with Rural Development Academy (RDA), Bogura, under Corporate Social Responsibility (CSR), aiming to provide two-storied agriculture with solar power irrigation system for the poor and marginal farmers across the country. Tahmidur Rashid, SEVP...

Ms Debra boyce, Counselor and Senior Trade Commissioner of Canadian High Commission

Ms Debra boyce, Counselor and Senior Trade Commissioner of Canadian High Commission, called on Omar Hajjaj, President of the Chittagong Chamber of Commerce and Industry (CCCI), at the latter's office at World Trade Centre in Chattogram on Monday. Trade Commissioner...

FICCI team calls on Salman F Rahman

A delegation of the Foreign Investors' Chamber of Commerce & Industry (FICCI), led by its president Zaved Akhtar, made a courtesy call on Salman F Rahman, adviser to the Prime Minister on Private Industry and Investment, recently and congratulated him...

Discounts on hotel, flight bookings at ShareTrip thru bKash payment

ShareTrip offers up to 75 per cent discount on bKash payments to make domestic travelling more exciting and affordable. Customers are getting this attractive discount on selected hotels and resort bookings until February 29. Besides, they will also get up...