Current News

Stocks rallied yesterday riding on the renewed confidence of investors who are hopeful that the budget for the next fiscal year would spell out measures to shore up the sluggish market. The regulator unofficially called upon many institutional investors to support the market, telling them that the finance minister would …

Robi started the year with a positive note and logged Tk 11.5 crore profit in the first quarter driven by data revenue growth. However, according to the new accounting practice of its parent Axiata Group, Robi made a loss of Tk 24.6 crore in the quarter. Axiata implemented the IFRS …

Apparel exporters yesterday demanded 5 percent cash incentive on their export receipts due to the rising costs amid implementation of a new salary structure in the industry. At present, garment shipments to new markets — which are destinations other than the US, the EU and Canada — and the use …

Planning Minister MA Mannan yesterday urged the international community to find a permanent solution to the Rohingya crisis. He said the recent influx of more than one million Rohingyas from Myanmar was a considerable stress on Bangladesh’s development efforts. “I call upon the international community to come forward in support …

Growing demand by Asia’s rich for independent advisory services and access to a wide variety of investment products is spurring the surge of boutique wealth managers more associated with the established wealth hubs of Switzerland and London. The boutiques, or so-called external asset managers (EAMs), mainly tap small-and-mid-level business owners …

India’s slowing economic growth is of serious concern and the country needs to urgently cut tax and interest rates to revive the economy, a top industrial body said on Monday ahead of the inauguration of Prime Minister Narendra Modi’s second term. The economy grew 6.6 percent in the three months …

Local e-commerce platform Sindabad.com has received $4.15 million from Aavishkaar Frontier Fund (AFF), a venture fund managed by Aavishkaar, a leading Asian impact investment company, in order to fine-tune and scale up its business. Sindabad, the country’s first business-to-business (B2B) e-commerce platform, is a concern of Zero Gravity Ventures Ltd …

The inflow of remittances amounted to $1350.57 million from May 1 to May 24, according to the Bangladesh Bank latest data The country received $1.35 billion in remittances in the first 24 days of the current month as Bangladeshi expatriates sent home a higher amount of money ahead of Eid-ul-Fitr. …

Footwear manufacturers and retailers are looking to rake in Tk 3,000 crore in sales this Eid-ul-Fitr as sandals and shoes are high on the shopping lists of customers from all walks of life. “All brands are witnessing a happy Ramadan as sales have increased,” said Nasir Khan, managing director of …

Stores selling expensive imported garment items have so far been disappointed with sales as financially solvent customers are shopping abroad while locals keep faith on domestic produce as Eid purchases gain momentum. The days to Eid-ul-Fitr are considered the busiest shopping season in Bangladesh, particularly for garments and footwear, and …