It recommended 40% cash dividend, highest in 8 years

DSEX gained 52.87 points in the first hour 

Bangladesh recorded its lowest economic growth in the past five quarters in the last quarter of fiscal 2023-24 due to contractionary monetary and fiscal policies to tackle the dwindling forex reserves and high inflation.

A “staffer of S Alam Group” took out Tk 118 crore from Union Bank without any approval or following any banking norms, indicating how the controversial business conglomerate used the bank.

Bangladesh Bank Governor Ahsan H Mansur has accused tycoons linked to the toppled Sheikh Hasina regime of working with members of the country’s powerful military intelligence agency to siphon $17 billion out of the banking sector during her rule.

Two factories of state-owned Bangladesh Textile Mills Corporation (BTMC) are being reopened after 27 years through a private-public partnership (PPP) with Pran-RFL Group..RR Textile Mills in Sitakunda and Rajshahi Textile Mills will be relaunched after being renamed Chittagong RR Textiles

Khulna Power Company Ltd (KPCL) has decided to shut down its 115-megawatt unit in Khulna and 40-megawatt unit in Jashore, citing uncertainty over its power purchase agreements (PPAs) with the Bangladesh Power Development Board (BPDB).

Low growth, high debt and escalating wars topped the official agenda at the International Monetary Fund and World Bank annual meetings, but finance leaders spent much of their energy worrying about the potential impacts of a return of Donald Trump to power in November’s US presidential election.

Chief Adviser Dr Muhammad Yunus has called on Saudi Arabia to increase its investment in Bangladesh, highlighting the potential for deeper energy and economic ties between the two friendly nations.

Chief Adviser Dr Muhammad Yunus announced new measures to simplify income tax filing in Bangladesh, addressing both individual taxpayers and corporate employees on his official Facebook page yesterday.

Despite growing interest in digital services, Bangladesh’s digital business environment remains underdeveloped compared to peer nations, largely due to a lack of reliable data and research, experts said yesterday.

Amid cautious spending by the interim government and disruptions due to political turmoil, the implementation rate of the annual development programme (ADP) in the current fiscal year’s first quarter hit the lowest in at least 15 years.

The Bangladesh Economic Zones Authority (Beza) is considering utilising unused land to establish solar power parks at the Mirsharai Economic Zone in Chattogram, the largest industrial enclave in the country.

Stocks in Bangladesh plummeted to a four-year low yesterday, just a day after the stock market regulator formed an inquiry committee to investigate the reasons behind the market’s sharp decline.

Tanveer Mohammad’s appointment comes into effect on November 1 this year

He will remain in the post until the end of the 2023-24 term on April 8 next year

It is the lowest expansion in the four quarters of 2023-24 fiscal year

The bank also made a profit of Tk  49.80 crore in the January to September period, posting a 16 percent increase year-on-year

The decline in NOCFPS was primarily due to increased investments in customers and a fall in deposits

Despite negotiations with BPDB, no formal PPA have been executed, said KPCL in a disclosure on the website of the Dhaka Stock Exchange today