Business

Bangladesh Bank has dissolved the board of directors of United Commercial Bank (UCB), Union Bank and Global Islami Bank, which had also been controlled by the S Alam Group. The central bank has appointed new board members to oversee each bank’s operations. The newly constituted board includes representatives from independent directors, signalling a shift towards improved governance. BB formed a ...

The United Kingdom (UK) on Tuesday expressed their keen interest to help Bangladesh reform its banking and revenue sectors alongside the capital market. The interest surfaced as the UK High Commissioner to Bangladesh Sarah Cooke called on Finance Adviser to the interim government Dr Salehuddin Ahmed at his Economic Relations Division (ERD) office in the city, report BSS. After the ...

Most Asian equities rose with the yen on Monday after US Federal Reserve boss Jerome Powell said “the time has come” to start cutting interest rates, lining up the central bank for a move as soon as next month. The comments provided investors with an extra boost and helped put the market turmoil earlier in August behind them, though analysts ...

Bangladesh Bank (BB) has ordered commercial banks not to allow cash withdrawals of more than Tk 4 lakh per account daily. Earlier, the limit was Tk 3 lakh. The central bank has hiked the limit once in each of the previous three weeks, which it imposed after the deterioration of the law and order and overall security situation in the ...

Metro rail resumed operations on Sunday after remaining suspended for over a month. But Kazipara and Mirpur-10 stations, which were damaged during the recent unrest, will remain closed. The first train started from Uttara North Metro Station at 7:10am and the first train from Motijheel departed at 7:30am. The regular commuters of metro rail, especially the office commuters, were relieved ...

A US campaign group has accused Boeing of concealing information about electrical problems on a plane that later crashed. The Foundation for Aviation Safety claimed the aircraft, which went down in Ethiopia in 2019, had suffered a number of issues, including an “uncommanded roll” at low altitude. The organisation said more than 1,000 planes currently flying could potentially be at ...

Metro Rail services, which were suspended since 18 July following vandalism at two stations during the quota movement, are going to operational from Sunday (August 25). Md Jakaria, additional project director of Dhaka Mass Transit Company Ltd (DMTCL), confirmed the matter. The metro trains were run on a trial basis on Thursday and Friday. There found no problem with the ...

A typical household’s annual energy bill will rise by £149 in October under the new price cap. People using an average amount of gas and electricity will pay £1,717 a year, a 10% rise compared with now. The cap, set by the energy regulator Ofgem, affects the price paid for each unit of gas and electricity used in 27 million ...

Bangladesh Jewellers Association (BAJUS) has set a new record high for gold prices with the cost of one bhori of gold reaching Tk 126,006. BAJUS confirmed the information in a press release on Thursday, adding,” This historic price will take effect from Friday.” The decision was made during a meeting of BAJUS standing committee on pricing and price monitoring, which ...

  Firms across the UK’s oil and gas supply chain have expressed “grave concern” about government plans to hike windfall taxes and eliminate investment incentives to an industry that supports 200,000 jobs. In an open letter to HM Treasury, seen by the BBC, 42 companies have warned that official plans threaten £200bn of investment in all forms of domestic energy, ...