Malek Spinning has decided to shut the RMG unit of its subsidiary Salek Textile Mills due to continuous losses and low demand for its products.

With Christmas just around the corner, upscale hotels are organising parties, restaurants are floating various offers and shops are stocking up on festive products ahead of the biggest religious festival for the Christian community.

The International Monetary Fund (IMF) yesterday advised the government not to extend general forbearance to banks and corporations.

The Bangladesh Small and Cottage Industries Corporation is looking to turn 214 acres of Madhupur Sal Forest into an industrial park.

Bangladesh Lamps Ltd, authorised manufacturer and distributor of Transtec lighting products, including smart LED bulbs and Tube lights, declared a cash dividend of Tk 2 per share at its 60th annual general meeting held virtually yesterday.

Bazlul Haque Rana, ex-director of public relations at Power Development Board, and Moniruzzaman Tipu, head of marketing and brand communication at Social Islami Bank Ltd, have been elected as president and secretary general of the Bangladesh Public Relations Association (BPRA) for the next two years.

Summit Power has shut down its gas-fired Madhabdi Power Plant Unit-2 as the factory’s power purchase agreement with the government has expired.

Real estate developers are concerned about the increasing cost of building materials as well as the proposed Detailed Area Plan (DAP), which will guide future constructions in Dhaka city, according to the Real Estate and Housing Association of Bangladesh (REHAB).

Dhaka stocks took a steep dive yesterday as investors continue to suffer from a confidence crisis amid growing tension between Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC).

Walton, one of top local electronics and home appliance manufacturers and exporters, yesterday launched its e-commerce platform Walcart Limited to capture a major share of the growing online business.

The non-bank financial institutions (NBFIs) can now show their unrealised interest of loans as income if borrowers can pay 25 per cent of their annual instalments by this year.

The commerce ministry today increased the wastage ratio for garment makers by 11 percentage points to 27 per cent, as the production of high-value items creates a lot of wastage.

The tax difference between listed and non-listed companies should be rationalised in order to encourage good companies and pursue well-performing large corporates for listing in the capital market, said Rizwan Rahman, president of Dhaka Chamber of Commerce and Industry (DCCI).

Turnover at the Dhaka Stock Exchange (DSE) dropped to under the Tk 800-crore-mark again today as the index continued falling the whole day.

Malek Spinning has decided to close down its textile unit of its subsidiary named Salek Textile due to accumulated loss.

The International Monetary Fund has slightly raised its projection for the economic growth of Bangladesh to 6.6 per cent for this fiscal year, up from 6.5 per cent it forecast in October.

The Summit Power has closed its gas-fired Madhabdi Power Plant Unit-2 as the plant’s power purchase agreement with the government has expired.

The Bangladesh stock market index started the week with a massive fall today as investors went for a selling spree.

Md Matiul Islam, a veteran chartered accountant and a former distinguished civil servant, has been awarded with a lifetime achievement award by the Institute of Chartered Accountants of Bangladesh (ICAB).

A Japanese former politician who campaigned to bring billions of dollars of investment from some of Japans top companies to Myanmar has urged Japan to endorse its military regime, saying the nation’s coup leader has  “grown fantastically as a human being,” while praising his  “democratisation efforts.”