Credit card use up 17% in March Transactions with credit cards rose 17 percent in March compared to the preceding month thanks to higher purchasing tendency among consumers. Bangladesh Bank data showed that transactions through credit cards increased to Tk 3,490 crore in March. Of the amount, Tk 2,985 crore
Read MoreOil prices fall on prospect of higher-for-longer US rates Oil prices fell by nearly $1 a barrel on Friday as comments from US central bank officials indicated higher-for-longer interest rates, which could hinder demand from the world’s largest crude consumers. Brent crude futures settled at $82.79 a barrel, down $1.09,
Read MoreMarket-driven interest rate returns after four years After a gap of four years, the banking sector in Bangladesh has returned to a market-driven interest rate regime at the prescription of the International Monetary Fund (IMF), in order to step up its fight against elevated level of inflation. The central bank
Read MoreBanks bag windfall from record interest spread Interest calculating in SMART formula comes as a boon for banking as banks bag windfalls from a record spread between the rates they provide to depositors and take from borrowers. Officials and bankers have said Bangladesh Bank’s monetary-policy shift from monetary targeting to
Read MoreCement makers witness moderate profit growth on currency stability Most of the listed cement manufacturers have witnessed a moderate profit growth year on year in the July-March period of the fiscal year 2024, buoyed by diminished foreign exchange loss following the return of stability in the currency exchange rates. While
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