Eastern Bank’s consolidated profit declined by 10%

Telecom operator Grameenphone has set an ambitious target to cut its carbon emissions by 50% before 2030, using 2019 emissions as a baseline. The company is actively implementing various initiatives to reduce its carbon footprint. These include enhancing energy efficiency, investing in renewable energy sources, fostering an energy-conscious culture, and collaborating with partners to minimize environmental impact, particularly in the supply chain.

Adani, an Indian power company, has encountered payment difficulties as the Power Development Board (PDB) in Bangladesh grapples with a shortage of dollars. Adani supplied 700-750 MW of electricity during the trial production period, totaling around 1.5 million units to PDB.

Investments made by full-fledged Islamic banks in Bangladesh have surged nearly nine times their deposits within a year, raising concerns about the overall health of the banking sector. Official figures show that these banks experienced a significant increase in loans, totaling Tk 46,011 crore, in the first quarter of 2023 compared to the same period in 2022.

In the maiden post-budget session, the Dhaka Stock Exchange (DSE) witnessed a significant surge in turnover, exceeding Tk 12 billion for the first time in seven months. The market's positive performance can be attributed to the absence of any new tax provisions or cuts to existing tax facilities in the proposed budget for FY24.

The Bangladesh Bank has issued a notice stating that all licensed money changers in the country must become members of their relevant trade association by June 30, 2023. The central bank believes that this requirement will help streamline the operations of the money changing business.

Bangladesh Steel Re-Rolling Mills (BSRM), the country's leading steel producer, has successfully transformed steel slag waste into eco-friendly construction material as an alternative to bricks. Steel slag, a solid waste generated during the steelmaking process, poses environmental threats and reduces land fertility when improperly disposed of.