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Governor hopes inflation reduction by next June
Bangladesh Bank Governor Ahsan H Mansur announced yesterday that the interim government aims to reduce inflation to 7% by June 2024 and below 5% in the next fiscal year. Speaking at an event titled ‘Driving Changes: Unlocking the Potential of Bangladesh Financial Market,’ organized by BRAC EPL Stock Brokerage Ltd at Sheraton Dhaka, Mansur discussed […]
BY Insider Desk
Janata Bank seeks Tk 200 billion bailout
Janata Bank, Bangladesh’s largest state-run financial institution, has sought an urgent Tk 200 billion bailout package from the interim government and Bangladesh Bank to address its liquidity crisis, maintain cash flow, and ensure depositor confidence. In a letter sent last month to the Financial Institutions Division of the finance ministry and the central bank, the […]
BY Insider Desk
11-member support committee formed to assist BASIS operations
Following sub-section 2(a) of section 18 of the Trade Organizations Act, 2022, an 11-member support committee has been formed to assist in the operations of the Bangladesh Association of Software and Information Services (BASIS). The committee was announced through an office order issued by BASIS Administrator Dr. Muhammed Mehedi Hassan. The committee comprises several prominent […]
BY Insider Desk
US court orders ByteDance to sell TikTok’s US operations by January 2025
A US federal court has ruled that ByteDance, TikTok’s parent company, must sell its US operations by January 19, 2025, or face a nationwide ban. The ruling, which aims to address national security concerns over TikTok’s Chinese ownership, is considered a victory for the Justice Department but a major setback for ByteDance. TikTok has 170 […]
BY Insider Desk
European Central Bank expected to cut interest rates
The European Central Bank (ECB) is expected to announce its third consecutive interest rate cut this week to boost lending and support economic activity in the eurozone. This follows aggressive rate hikes from mid-2022 aimed at curbing inflation, which has since eased as the region faces a weakening economic outlook. Speculation initially suggested a half-percentage-point […]
BY Insider Desk