ADB attaches 20 conditions to another $600m budget support
The Asian Development Bank (ADB) has outlined 20 conditions for Bangladesh to access $600 million in the second tranche of a loan for the implementation of its “Strengthening Economic Management and Governance Program”.
2 January 2025, 18:00 PM
Is cooling red-hot inflation to 7% by June possible?
The central bank governor projects cooling the red-hot inflation, which has hovered above 9 percent since March last year, to 7 percent by June next year.
14 December 2024, 18:00 PM
ADB approves $600m to accelerate economic recovery
The Asian Development Bank (ADB) has become the first among multilateral and bilateral lenders to respond to the interim government's call for budgetary support, approving $600 million aimed at easing pressure on foreign exchange reserves and accelerating economic recovery.
11 December 2024, 19:59 PM
Revised budget may be Tk 50,000cr smaller
Bangladesh’s national budget for fiscal year 2024-25 is likely to be reduced by more than Tk 50,000 crore, with the entire cut expected to be made in funds meant for the annual development programme (ADP).
7 December 2024, 18:00 PM
Bangladesh ‘sleepwalked’ into middle-income trap
Bangladesh, mired in data fog, has “sleepwalked” into the middle-income trap according to the white paper on the state of the country’s economy.
3 December 2024, 18:00 PM
Distressed loans equal to cost of 22.5 Padma bridges
Distressed assets in the banking sector have reached a whooping Tk 6,75,030 crore, an amount bigger than the cost of building 22 bridges across the Padma or 13.5 metro rail systems in Dhaka, according to a White Paper released yesterday.
1 December 2024, 18:34 PM
Banks reel from liquidity crisis despite rising deposit rates
Despite rising interest rates on deposits and various efforts by the central bank, Bangladesh’s banking sector continues to face a liquidity crisis that has hamstrung some lenders.
25 November 2024, 18:00 PM
Moody’s downgrades Bangladesh banking rating to ‘very weak’
Moody’s has downgraded Bangladesh’s banking sector to “very weak” from “weak”, citing worsening client confidence, limited transparency and inadequate financial safeguards over the past year.
20 November 2024, 18:00 PM
Half of remittances came thru Islamic banking in Dec
Nearly half of the total remittances in December last year came to Bangladesh through Islamic banking channels, according to the Bangladesh Bank.
3 May 2024, 02:59 AM
More exchange rate flexibility needed
Bangladesh’s macroeconomic performance has significantly improved since the country entered the IMF’s $4.7 billion loan programme in January last year, but the bleeding of foreign currency reserves continues, putting the taka under pressure, the global lender said yesterday.
30 April 2024, 18:00 PM
Exim Bank’s profit dropped 9.4% in 2023
Exim Bank's profit declined 9.4 percent year-on-year to Tk 337 crore in 2023, according to a disclosure on the Dhaka Stock Exchange (DSE) website yesterday.
24 April 2024, 00:00 AM
Three out of four people still unbanked in Bangladesh
Only 28.3 percent had an account with a bank or NBFI last year, it showed, increasing from 26.2 percent the year prior.
15 April 2024, 15:24 PM
Celebrating Eid getting harder for the vulnerable
As middle and low-income segments of society struggle against the backdrop of a severe cost-of-living crisis, the surge in aggregate demand ahead of Eid-ul-Fitr poses a further hurdle for many striving to celebrate the festival.
5 April 2024, 18:00 PM
Economics of Eid
As the darkness of night made way for the first light of day, a rhythmic hum echoed through the tranquil dawn in Jamalpur like a heartbeat.
5 April 2024, 18:00 PM
BRAC Bank logged 35% profit growth in 2023
BRAC Bank PLC registered a 35 percent increase in profit to Tk 827.50 crore last year thanks to its focus on small and medium enterprises (SME) and technology-based customer services, which added over 3.60 lakh new customers.
2 April 2024, 18:00 PM
One panjabi for two occasions
The rising price level in Bangladesh has left the middle and low-income segments in a severe cost of living crunch, with inflation hovering above 9 percent since March last year.
27 March 2024, 00:49 AM
Bangladesh's biggest shopping festival begins as Eid nears
The number of shoppers has been increasing since Friday, said brands and retailers. But with about 18 days left until Eid, consumers are yet to start buying clothing items in large quantities, they said.
24 March 2024, 00:45 AM
Gender gap in MFS widens from 3% to 16% in five years
The gap broadened to 16.06 percentage points in December last year from 3.25 percentage points in the same month in 2019, according to the data.
23 March 2024, 15:26 PM
Shrimp exports to face significant competition after LDC graduation
Shrimps, popularly referred to as “white gold” due to being one of Bangladesh’s most valuable export items, may face significant pressure from competitor nations after the country graduates from Least Developed Country (LDC) status in 2026.
21 March 2024, 00:00 AM
'Bearish market resulted from floor price'
The long-term imposition of the floor price has had a negative impact on the stock market, leading to the current bearish trend, according to Md Ashequr Rahman, managing director of Midway Securities.
17 March 2024, 00:48 AM
Bangladesh yet to benefit from GI-certified products
Bangladesh is yet to derive any benefit from the products granted the status of geographical indication (GI) due to a lack of initiatives from stakeholders although the recognition enhances the reputation of goods, builds consumer confidence and brings in higher prices.
5 March 2024, 00:32 AM
Rushed GI status raises questions over efficacy
In an unprecedented move, the Ministry of Industries in Bangladesh has issued preliminary approvals for 10 products to be awarded geographical indication (GI) status in a span of just eight days recently.
25 February 2024, 01:00 AM
Shwapno aims to clock $2b sales in seven years
Shwapno has posted operating profit in the last two years and witnessed a nearly six-fold increase in sales in the past one decade. And the fastest-growing retail chain in Bangladesh hopes to maintain its momentum in the coming years.
20 February 2024, 00:40 AM
Sunquick rolled out to win hearts of customers thru quality fruit drinks
ACI CO-RO Bangladesh Ltd, a joint venture of ACI Ltd and Danish fruit drinks manufacturer CO-RO A/S, has launched its juice products in Bangladesh under the brand name Sunquick.
15 February 2024, 00:09 AM
Signs of reverse migration to villages as economic struggle persists
The number of people who returned to villages from cities and major towns almost doubled in 2022 from a year ago as living expenses exceeded their incomes, official figures showed.
12 February 2024, 01:42 AM
Govt set to give Tangail sari GI status
The industries ministry is going to award Tangail sari the geographical indication (GI) status following a public outcry in Bangladesh, a week after India granted the same recognition to ‘Tangail Saree of Bengal’.
8 February 2024, 01:10 AM
Tangail Sari: Collective apathy to blame for GI fiasco
As India’s geographical indication (GI) recognition of Tangail sari sparked widespread outcry and criticism around Bangladesh, including on social media, questions have emerged about why Bangladesh failed to get GI recognition despite being a rightful claimant
4 February 2024, 18:00 PM
Winter discounts bring cheer to clothing brands, customers
Although there are only about 17 days to go before the biting cold all over the country makes way for the warm embrace of spring, customers are flocking to outlets of local clothing brands in a rush to secure the best winter clothes.
28 January 2024, 01:00 AM