Pinnacle Towers Completes Acquisition of ABHT

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Pinnacle Towers (“Pinnacle”), an Asia-focused digital infrastructure platform that invests in, builds, and operates telecom infrastructure with a focus on towers and related assets, and AB HighTech (“ABHT” or the “Company”), a leading telecom tower platform in Bangladesh, today announced the completion of Pinnacle’s acquisition of a majority stake in the Company. With this acquisition, … Read more

Sony logs record full-year sales, net profit dips

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 TOKYO, May 10, 2022 (BSS/AFP) – Sony on Tuesday reported record sales of9.9 trillion yen ($76 billion) for the financial year to March, while netprofit dipped to 882 billion yen from the previous year’s record high.    A lockdown-fuelled gaming boom has slowed, but the Japanese giant saidstrong results in its music, movies and electronics … Read more

Oppo caught after 4 years for tax evasion!

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Smartphone maker Oppo has been accused of evading import duty in Bangladesh. Although the incident took place in 2018, an investigation earlier this year found a case of tax evasion. The last notice was issued about two months ago against the company. According to the notice, Oppo has evaded more than Tk 46 lakh. According … Read more

Unilever cuts jobs after failed takeover

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British consumer goods giant Unilever on Tuesday announced plans to cut around 1,500 management jobs worldwide in a major restructure for the company, which recently saw a major acquisition bid fail. The maker of Magnum ice cream and Dove soap said its “proposed new organisation model will result in a reduction in senior management roles … Read more

Magnito Digital partners up with Bkash

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Magnito Digital Ltd, the country’s largest digital marketing firm, has recently teamed up with Bkash to handle the company’s digital and social media communications. Magnito Digital will create and execute its digital and social media communications as its official digital agency. They have built leading brands in the digital space and are a popular choice … Read more

Chinese developer Shimao looks to sell $12 bn in assets: report

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 BEIJING, Jan 25, 2022 (BSS/AFP) – Chinese real estate firm Shimao Group is looking to sell around $12 billion in assets, according to Chinese news outlet Caixin, as the developer seeks to raise funds to combat its liquidity problems. China’s property firms have struggled in the wake of Beijing’s drive in recent years to curb … Read more

Higher costs hit JPMorgan Chase as it reports huge 2021 profits

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NEW YORK, Jan 15, 2022 (BSS/AFP) – Higher labor costs bit into JPMorgan Chase’s fourth-quarter results, but the US bank on Friday still reported record annual profits of $48.3 billion. The financial giant pointed to a broadly solid US economy that allowed it to release reserves it had set earlier in the Covid-19 pandemic in … Read more

Pran-RFL to invest Tk 1700cr in consumer products, poultry businesses

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COX’S BAZAR, Jan 7, 2022 (BSS) – One of the country’s leading conglomerates PRAN-RFL Group is set to invest Taka 1,700 crore to manufacture consumer products and mobile handsets along with starting poultry business and expanding some other existed businesses this year. “Pran-RFL Group is setting up a new industrial park called Kaliganj Agro Processing … Read more

Energypac receives AmCham CSR Excellence Award

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Leading power, energy, and engineering company Energypac Power Generation Ltd received an award in the category of ‘AmCham CSR Excellence Award’ during the ‘Celebration of 25th Anniversary of the American Chamber of Commerce in Bangladesh,’ held recently at Hotel InterContinental Dhaka, said a press release. Foreign minister AK Abdul Momen graced the event as the … Read more

upay wins fintech innovation award for its multi-wallet feature

Sydul Haque Khandaker, Managing Director and CEO of upay ( Thrid from the right) receives the award at the Bangladesh Fintech Award 2021

upay, one of the fastest-growing mobile financial service providers in the country has won the ‘Fintech Innovation of the Year’ award in mobile money category. The award has been conferred to upay for its innovative multi-wallet feature enabling customers to make transaction at a lower cost from four different wallets in one upay account. Sydul … Read more