Business

May22025 by No Comments

Garments Worth Tk 4 million Recovered Along with Stolen Covered Van Using Carcopolo Tracker

A covered van loaded with garments for export was in route to Chattogram Seaport when it was hijacked in Sitakunda by a group of youths. However, since the van was equipped with a Carcopolo GPS tracker, Sitakunda police were able to recover both the van and garments worth approximately Tk 4 million in a short time. The stolen goods were recovered on Saturday, April 12.According to police, on Friday, April 11, a shipment of garments in 1,564 cartons—valued at around Tk 4 million—left from Dip Knitwear Garments in Gazipur for export to the Netherlands via Chattogram Port. While traveling on the Dhaka–Chattogram highway, the van was hijacked along with the cargo in the Sitakunda area by a group of unidentified youths.The next day, Saturday (April 12), the van owner filed a case at Sit...

May22025 by No Comments

BRAC Bank posts excellent set of results in 2024 underpinned by strong balance sheet growth

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BRAC Bank achieved a 73% (year-over-year) growth in its Net Profit After-Tax (NPAT) on a consolidated basis for 2024 amid challenging market conditions. The bank's consolidated financials, which include all its subsidiaries, showed an NPAT of BDT 1,432 crore in 2024, a significant increase from the BDT 828 crore reported in 2023.BRAC Bank stand-alone 2024 NPAT was BDT 1,214 crore, representing a 66% increase from the previous year's BDT 730 crore. Despite the stressed industry conditions, the Bank delivered strong balance sheet growth, significantly ahead of market average growth rates - with customer deposits growing by 34% and loans and advances increasing by 20%.The bank's financial statements for FY 2024 were approved by the Board of Directors on April 28, 2025. Here are highli...

Apr302025 by No Comments

Banglalink Launches Cloud Solutions for Enterprises in Partnership with Pico Public Cloud

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Banglalink, the country’s leading digital operator, has launched bCloud, its very own cloud service brand aimed at delivering world-class cloud solutions to its valued enterprise business clientele. The launch is in partnership with Pico Public Cloud, an affiliated company of Fiber@Home, the nation’s largest transmission network provider. The launching ceremony took place on April 30, 2025, at Banglalink Tiger’s Den in Gulshan 1, Dhaka.The event was attended by Kaan Terzioğlu, CEO of VEON Group; Johan Buse, CEO of Banglalink; Taimur Rahman, Chief Corporate and Regulatory Affairs Officer, Banglalink; and other members of the Banglalink Leadership Team. From the partner organizations, attendees included Moynul Haque Siddiqui, Chairman of Fiber@Home; Azad Chowdhury, CEO of Pico Public Cl...

Apr302025 by No Comments

The Necessity of the ICX System is Undeniable, Modernization is the Demand

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The Association of ICX Operators of Bangladesh (AIOB) has expressed grave concern over the ongoing debate regarding the future of the Interconnection Exchange (ICX) system in the country's telecom sector.At a press conference held on Wednesday at the Shafiqul Kabir Auditorium of the Dhaka Reporters Unity, AIOB leaders emphasized that for over 15 years, ICX has served as the central interconnection mechanism for voice traffic, building a stable telecom infrastructure through transparency, security, employment generation, and protection of domestic investment.They warned that recent proposals for “voice-level simplification” are unrealistic and could negatively impact national security, tax revenue, the future of local entrepreneurs, and the quality of service received by consumers. ...

Apr282025 by No Comments

Huawei Attains bKash Partner Excellence Award for the Fifth Time

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Huawei has received the bKash Partner Excellence Award for the fifth time as a symbol of trust for its role in supporting bKash to bring sustainable economic development and building a cashless society for Bangladesh. Zhou Xiaofeng (Tim), Vice President of Carrier Network Business Group of Huawei South Asia; and Du CongCong (David), Account Director (AD) from Huawei South Asia received the award from Moinuddin Mohammed Rahgir, Chief Financial Officer; and Mohammad Rashedul Alam, EVP and Head of Supply Chain, Procurement of bKash in an award ceremony.Huawei Bangladesh shared this information through a press release on Monday, April 28.Huawei and bKash have been working together through a strategic technology partnership since 2017. Currently, Huawei is providing technical support in...

Apr282025 by No Comments

Applications for the Daraz Future Leaders Programme 2025 are now open

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DFLP 2025 is open to passionate and driven individuals who have graduated within the past year, with a strong foundation in academic excellence and analytical skills. Ideal candidates should demonstrate the spirit of teamwork, and leadership potential with effective communication and adaptability.The application window opened on 21 April and is currently open. It will remain open for 14 days. Applicants can apply online through the Daraz Career page (https://careers.daraz.com/ )Through multiple rounds of selection process, Daraz will identify top-tier graduates from universities across the country to join the Programme, where they will be equipped with the skills, mentorship, and real-world experience needed to thrive in a fast-paced, tech-driven environment.DFLP offers a co...

Apr272025 by No Comments

BRAC Bank achieves Number One position in Government Securities trading for 3 consecutive years

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BRAC Bank has once again secured its position as the top-performing bank in secondary market trading of Government Securities (GSEC) for the third consecutive year, as per the latest annual report released by Bangladesh Bank.In FY 2023–24, BRAC Bank expanded its market share to 13.39%, up from 11.64% the previous year, solidifying its frontrunning position and accelerating its upward momentum.This performance is backed by BRAC Bank’s strong capital base, prudent liquidity management, sound risk management, and continuous investment in advanced digital treasury infrastructure.Further reinforcing its financial strength, BRAC Bank Electra- the only FX trading platform by any local bank, has helped BRAC Bank to secure its position as top FX liquidity provider in the interbank marke...

Apr242025 by No Comments

HBL President Reaffirms Commitment to Regional Economic Integration during Bangladesh Visit

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Muhammad Nassir Salim, President & CEO - HBL, recently concluded a three-day official visit to Bangladesh, reaffirming the Bank’s commitment to advancing trade and investment opportunities across the region.During the visit, Muhammad Nassir Salim met with key government policymakers, regulators, foreign and local investors, and senior leaders from the private sector. These engagements focused on enabling deeper economic cooperation between Bangladesh and strategic global markets, particularly China, the Middle East, and South Asia — regions where HBL holds a strong institutional footprint.HBL, with a legacy of over 45 years in Bangladesh, is playing an important role in supporting the country’s trade ecosystem. HBL has made historical strides in China, where the Bank has a bran...

Apr232025 by No Comments

BRAC Bank partners with fintech QuiqSend to facilitate app-based remittance from Australia

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BRAC Bank has signed a remittance agreement with Australian fintech company, QuiqSend, to provide convenient app-based remittance sending experience to wage earners in the country.Techwest Pty Ltd (Trading as QuiqSend), a new money transfer startup, providesfast, reliable, and cost-effective money transfer services globally. Regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC), the company offers a secure and user-friendly platform for customers to send money to their loved ones in Bangladesh.With seamless API integration, remittances from QuiqSend to BRAC Bank will now be fully automated, real-time, and secure. Through this partnership, Probashi Bangladeshis residing in Australia can now conveniently and safely send their hard-earned remittances to BRA...

Apr232025 by No Comments

Bata’s Board recommended a 445% cash dividend for 2024

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A board meeting by Bata Shoe Company (Bangladesh) Ltd was held on 22 April, 2025 where the directors recommended 105% final dividend for 2024, in addition to the interim dividend of 340% already declared, totaling to a cash dividend of 445% for the year 2024. This dividend is subject to the approval by the Shareholder during the Annual General Meeting (AGM), which will be held on 26 June 2025.During the Board Meeting, the audited financial statements for the year 2024 was also reviewed. The initial report reveals that Bata has been able to achieve 94% of last year’s (2023) turnover in the financial year that ended on 31 December 2024, demonstrating remarkable resilience in the face of challenging external circumstances.Last year was a challenging year for Bangladeshi customers. Wit...