Star Business Report

Prices of various essential items have gone up to the extent that they seem luxury goods for many people, particularly poor and vulnerable people, said the Centre for Policy Dialogue (CPD) today.

Bangladesh’s business environment deteriorated slightly in 2023 compared with 2022, mainly because of sluggish regulatory reforms, weak infrastructure and difficulty in access to finance, according to the Bangladesh Business Climate Index (BBX) released today.

Inflation in Bangladesh fell seven basis points to 9.74 percent in April from a month ago on the back of declining prices of non-food items.

Shares of most companies fell in the morning trade on the Dhaka Stock Exchange (DSE), extending a losing streak for the fourth day.

Dhaka stocks regained strength in the early trade today paring down the losses incurred in the first two days of trading after nearly a week of holidays.

Dhaka stocks declined in the morning trade for the second consecutive session today as sales pressure dominated the bourse.

Dhaka stocks plunged in the morning session, the first trading day following holidays on the occasion of Eid-ul-Fitr and Pahela Baishakh.

The ADB’s projection comes days after the Bangladesh Bureau of Statistics said economic growth in the October-December quarter of fiscal 2023-24 halved to 3.78 percent, the slowest pace in three quarters, as manufacturing output growth declined sharply owing to reduced domestic consumption.

United Commercial Bank (UCB) is likely to take over trouble-ridden National Bank Ltd (NBL), according to officials of the lenders. 

Inflation edged up in March after marginally easing in the previous month, showing no signs of respite to consumers already hurt by the consistent erosion of buying capacity due to elevated prices. 

The central bank of Bangladesh has tightened the monetary policy but its transmission has been hindered by the SMART lending rate cap since it slows pass-through to lending rates due to the use of a moving average, the World Bank said in a report today.  

Bangladesh’s real GDP growth is projected to remain relatively subdued at 5.6 percent in the current fiscal year, compared to the average annual growth rate of 6.6 percent over the decade preceding the Covid-19 pandemic, the World Bank said today.  

The hurried initiative of merging banks may not bring about the desired outcome, said analysts at a webinar.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) today demanded exemplary punishment for those responsible for neglecting safety measures after 46 lives were lost in a devastating fire at a building in the capital’s Bailey Road on Thursday night.

Daraz Group, Alibaba' s South Asian e-commerce arm that operates in five markets including Bangladesh, has announced that it is letting go of “many” employees but stopped short of disclosing the number.

The National Board of Revenue (NBR) today extended the deadline for tax return filing by companies by two months to April 30, according to an order.

The Sammilito Parishad, a panel which is participating in the biennial polls of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), today said it would work to develop a smart garment sector if it wins the election scheduled March 9. 

Inconsistent policies and regulations create uncertainty for exporters and make it difficult for them to plan and invest for the long term, standing in the way of export diversification for Bangladesh, according to experts.

The industries ministry has backtracked from its decision to hike the prices of sugar produced by state-run sugar mills.

The government has decided to impose fines and progressive tax on a daily basis on foreigners for overstaying their visas and working illegally in Bangladesh, according to a decision taken at a meeting on Tuesday.