Business

Bangladesh Bank (BB) has asked banks to bring down the number of directors from the same family to three. The Bank Company (Amendment) Act 2023, which was passed in parliament recently, specified that the number of directors from a single family can’t be more than three, according to a BB circular issued on Wednesday. A maximum of four members from ...

British consumer goods giant Unilever on Tuesday said its net profit jumped more than a fifth in the first half thanks to an asset sale and price increases. Profit after tax rose 22 percent to 3.54 billion euros ($3.9 billion) in the six months to the end of June from a year earlier, said the maker of products ranging from ...

  By Imran Hossain:   The global oil, gas and energy industry continue to play a vital role in powering the world's economies and meeting the growing energy demands of a burgeoning population. This report provides an overview of the current state of the global oil, gas and energy sectors, highlighting key trends, challenges, and opportunities. Despite the increasing emphasis ...

Irish no-frills airline Ryanair on Monday announced surging profits for its first quarter, recovering from disruption to traffic one year earlier in the wake of Russia’s invasion of Ukraine. Profit after tax soared to 663 million euros ($738 million) in the three months to the end of June from 170 million euros in the carrier’s prior first quarter, a statement ...

Elon Musk said he was looking to change Twitter’s logo, tweeting: “And soon we shall bid adieu to the twitter brand and, gradually, all the birds. In a tweet at 12:06 a.m. ET (0406 GMT) on Sunday, the social media platform’s billionaire owner added: “If a good enough X logo is posted tonight, we’ll make go live worldwide tomorrow.” Musk ...

Renowned US online newspaper Policy Watcher lauded Bangladesh’s economic achievements saying that as one of the fastest growing economies, Bangladesh has now become a case study of economic development in the world. “On the basis of macro-economic stability, the economy of Bangladesh has grown 271 times in 50 years,” said the online newspaper in an article of its July 22 ...

The Asian Development Bank (ADB) has approved a $120 million loan to help improve access to basic services and climate resilience of remote and rural communities in the Chittagong Hill Tracts of Bangladesh. “The Chittagong Hill Tracts is one of the regions in the country most vulnerable to climate and disaster risks. It also lacks access to basic services and ...

Bangladesh Jewelers Association (Bajus) has announced price hike of top quality of gold once again. Each bhori of 22-carat gold was fixed at Tk 1,00,778 which will be effective on Friday, the Bajus said on Thursday. Bajus said it had no alternative but to increase the rates as the prices of pure gold has increased in the local market. According ...

The higher estimate of 6% for FY 2023 (ending on June 30, 2023) reflects strong net exports as imports fell more sharply than expected and export growth slowed less than expected, says the Asian Development Bank (ADB). On the supply side, manufacturing firms of all sizes leveraged supportive government policies to contribute to growth. Crop losses to floods, cyclones, and ...

The world economy is in a difficult place but it is not destined to stay there, World Bank President Ajay Banga said on Monday. The World Bank last month cut its 2024 forecast for global economic growth to 2.4% from 2.7% earlier, citing global monetary tightening. “The fact is that the world economy is in a difficult place. It has ...