Business

Singapore’s biggest bank DBS has slashed its CEO’s bonus by 30% after disruptions to its digital services, despite it posting a record profit. The company said the cut to Piyush Gupta’s variable pay amounts to S$4.14m ($3.1m; £2.4m) and that his full salary for 2023 will be disclosed in March. In 2022 Mr Gupta was paid S$15.4m. After several glitches ...

WeWork’s former boss, Adam Neumann, wants to buy back the bankrupt shared office company, according to a letter made public on Tuesday. He approached the firm in December about a potential deal, the message from his lawyer to WeWork said. It accused WeWork of resisting the idea, despite its bleak financial situation. WeWork said it received offers on a “regular ...

In a span of a week, price of garlic has fallen by Tk 20 a kg at Fulbari in Dinajpur district. On the other hand, price of onion has started rising again. The local variety of onion is being sold at Tk 10 more per kg compared to the last week. Visiting Fulbari’s wholesale and retail vegetables markets on Tuesday ...

The number of (Tax Identification Number) TIN holders in the country is increasing, but the return submission has not increased proportionately, said the National Board of Revenue (NBR). According to NBR, at the end of the deadline for returns submission for fiscal year 2023-24, only 24,381 companies/institutions submitted returns, which is 8.45 percent of the total institutions. It means more ...

Bangladesh Bank (BB) has set a target of reducing classified loans to below 8 per cent of the country’s total outstanding loans within June 2026 to ensure corporate good governance in the banking sector. To this end, the central bank has prepared a roadmap. “The central bank aims at reducing classified loans of state commercial banks to 10 per cent ...

Bangladesh Bank (BB) has set a harsh 11-point roadmap to realise default loans and ensure good governance in bank operations. The central bank board meeting on Sunday approved this roadmap for establishing good corporate governance in banks along with a guideline for reducing huge amounts of default loans, Deputy Governor of BB Abu Farah Md Nasser said. The BB governor ...

Bangladesh Energy Regulatory Commission (BERC) has increased the price of a 12 kg liquefied natural gas (LPG) cylinder by Tk 41 to Tk 1,474 from Tk 1,433. The new price effects from 6pm on Sunday (February 4). BERC Chairman Nurul Amin announced the new price at a press briefing at the BERC office this afternoon. Prices of other LPG cylinders ...

The food price index of the UN Food and Agriculture Organization (FAO) fell in January, continuing last year’s trend. The organization said in its statement that the basic level of food prices slightly decreased due to lower prices for wheat and corn. The FAO Food Price Index, which measures monthly changes in prices of a range of food products on ...

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg stands to receive a payout of about $700 million a year from the social media giant’s first-ever dividend for investors, reports Bloomberg. Meta announced a quarterly cash dividend of 50 cents a share for Class A and B common stock beginning in March. With Zuckerberg holding about 350 million shares, he would ...

The boss of Jaguar Land Rover has denied that his company’s vehicles are especially vulnerable to theft. Adrian Mardell said the Range Rover “is not ‘Britain’s most stolen vehicle'” after a series of reports about soaring insurance costs for UK owners. He accused the insurance industry of failing to take into account all data when setting cover and premiums. Last ...