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
Cash recycling machines gaining traction
Cash recycling machines (CRMs), set up by banks in Bangladesh to help clients deposit, withdraw and transfer money instantly, almost doubled in the last financial year.
18 August 2022, 02:30 AM
Agent banking accounts keep growing
Transactions through agent banking accounts rose 43 per cent year-on-year to Tk 5,64,844 crore in fiscal year 2021-22 as a growing number of people are now using the new banking window, showed Bangladesh Bank data.
14 August 2022, 03:15 AM
Refiners want soybean up Tk 20 a litre
Edible oil processors have proposed a hike of Tk 20 per litre in the price of soybean oil on the ground of the significant depreciation of the taka, which has raised their import cost.
7 August 2022, 18:00 PM
Edible oil processors want Tk20 a litre hike in soybean oil
Edible oil processors in Bangladesh have proposed the government raise the price of soybean oil by Tk 20 per litre, according to processors and officials of the Bangladesh Trade and Tariff Commission (BTTC).
7 August 2022, 08:01 AM
Jute, jute goods exports fall for soaring shipping costs
Exports of jute and jute goods from Bangladesh declined in the last fiscal year due to the unprecedented surge in shipping costs and the higher price of raw fibres.
15 July 2022, 03:00 AM
125 firms to import 2.5 lakh tonnes of rice
The government has permitted 125 companies to import a total of 246,000 tonnes of rice in order to cool down the domestic market for the staple grain in Bangladesh.
6 July 2022, 18:00 PM
Bangladesh to import 2.5 lakh tonnes of rice
The government has permitted 125 companies to import a total of 246,000 tonnes of rice in order to cool down the domestic market for the staple grain in Bangladesh.
6 July 2022, 09:10 AM
‘More than a bridge’
If Padma Bridge adds at least one percentage point to GDP, it will contribute $4.24 billion to the economy annually, which is higher than the total cost of the bridge, said Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh.
26 June 2022, 10:20 AM
Stamp duties to increase up to 300pc
The rate of stamp duty, which has been unchanged for a decade, is going to increase by up to 300 percent from the next fiscal year as the government aims to boost revenue collection from this source to finance part of its Tk 678,064 crore budget and keep borrowing within its target.
10 June 2022, 18:00 PM
5.6% inflation target set for FY2022-23
The government has set a 5.6 per cent inflation target in the proposed budget for the 2022-23 fiscal year although the prices of essentials and other commodities are persisting at higher levels.
9 June 2022, 10:11 AM
GDP growth target set at 7.5%
The Bangladesh government has set a target of 7.5 per cent growth of the country’s gross domestic product (GDP) in the upcoming fiscal year of 2022-23 beginning from July.
9 June 2022, 09:38 AM
Revenue collection target set at Tk 433,000 crore
The government has set a target to collect Tk 433,000 crore as revenue in the upcoming 2022-23 fiscal year.
9 June 2022, 09:34 AM
Budget deficit Tk 245,064 crore
The overall budget deficit for the fiscal year 2022-23 will be Tk 245,064 crore, or 5.5 percent of GDP, said Finance Minister AHM Mustafa Kamal in his budget speech today.
9 June 2022, 09:18 AM
Tk 678,064 crore budget unveiled
Finance Minister AHM Mustafa Kamal unveiled a proposed budget of Tk 678,064 crore for 2022-23 fiscal year in the national parliament today.
9 June 2022, 09:09 AM
Rains, floods batter Boro cultivation
Natural calamities, including the recent flash floods in haor areas caused by heavy rain amid cyclone Ashani, have damaged the production of 78,987 tonnes of boro rise this season, according to the Department of Agricultural Extension (DAE).
24 May 2022, 05:00 AM
Mango growers fear lower yield
Yusuf Ali, a mango grower in Chapainawabganj, did not benefit much despite having an ample yield last year as the price of the popular fruit was unusually low due to the lockdown-induced disruption.
19 May 2022, 03:00 AM
Farmers not showing interest to sell wheat to the state at lower price
The government is struggling to fulfil the target of wheat procurement from the domestic market this season as growers are not showing interest to sell the food grain to the state at a lower price.
15 May 2022, 05:30 AM
Soybean oil solely off foreign seeds
Many of you, who know about the cultivation of soybean in Bangladesh, might think that the production of the oilseed contributes to meeting the country’s demand for edible oil to some extent.
12 April 2022, 18:00 PM
Edible oil prices go up again
In spite of the government fixing edible oil prices recently, the prices of loose soybean oil and palm oil have gone up at both retail and wholesale markets due to a supply crisis.
6 April 2022, 18:00 PM
Edible oil prices: Hike on despite the tax cuts
The prices of edible oil have gone up at the wholesale level yesterday despite the 30 percent tax exemption at the import and production stages.
17 March 2022, 18:00 PM