EIC Chosen for Stanford Seed Cybersecurity Program

S Alam Refined Sugar Industry illegally sold 60,500 tons of raw sugar in the open market without paying customs duties, violating regulations. The Chattogram Customs Bond Commissionerate has issued a claim of Tk 246.26 crore against the company, along with a Tk 3 lakh fine. Additionally, S Alam Group has evaded Tk 755 crore in VAT, making it the leading company for VAT evasion among its affiliates. An audit on their sales and production activities has been completed, resulting in a preliminary report.

The central bank is investigating Keya Cosmetics Ltd. for failing to deposit $49 million (5880 crore BDT) in export earnings into its foreign currency account. The company has raised concerns against Pubali, Southeast, and National banks, citing negligence in handling its finances.

The Dhaka Stock Exchange (DSE) rebounded today after reaching a four-year low, with the DSEX index rising by 118.8 points (2.42%) to close at 5,017. Key sectors such as banking, pharmaceuticals, and telecommunications contributed to the gains, led by Islami Bank Bangladesh and BRAC Bank. Turnover decreased by 2.98% to Tk 347 crore, with banking dominating trading volume. Non-bank financial institutions saw the largest sector gain at 4.30%, while the fuel and power sector declined by 0.72%.

Celebrating 25 years, Mutual Trust Bank PLC (MTB) differentiates itself through trust and innovation, says CEO Syed Mahbubur Rahman. Originally focused on wholesale banking, MTB now provides diverse, inclusive services backed by strong governance and skilled employees.

Titas Gas Transmission and Distribution Company (TGTDCL) saw its losses surge 4.5 times in FY 2024, with a loss per share reaching Tk 7.52, up from Tk 1.67 the previous year. Despite the increased losses, the company recommended a 5% cash dividend for FY 2023-24.

Bangladesh Bank (BB) will start assessing the asset quality of banks next month as part of comprehensive reforms, according to Governor Dr. Ahsan H. Mansur. Announced during the World Bank Group's Annual Meetings, the assessment will involve an international auditor and focus on identifying losses, capital shortfalls, and the need for recapitalization.