The lending rate of bank loans has gone past 12 percent on the back of the rising benchmark interest rate, sending the cost of funds for borrowers higher, as the central bank’s contractionary monetary policy appears to have taken hold.

House rent in Bangladesh rose by an average of 5.89 percent in the October-December period of the current fiscal year (FY), placing an additional burden on many lower and middle-income households, according to the Bangladesh Bureau of Statistics (BBS).

International textile and garment machinery sellers are optimistic about a rebound in their business in Bangladesh this year as the global clothing supply chain is recovering from the sluggish trend.

Bangladesh’s largest drug producer, Square Pharmaceuticals, saw increased sales from its Kenya project in the second quarter of fiscal year (FY) 2023-24.

Bangladesh’s foreign currency reserves have slipped below $20 billion again as remittance and export receipts did not pick up to the desired level.

At a multinational company, a new group CEO with a bureaucratic background, who had little knowledge of the industry, was appointed. From his high seat, the big boss decided to cover up his lack of knowledge by flexing his powers.

Exporters have expressed disappointment about the government’s sudden cut in cash incentives on the shipment of garments and other export-oriented products

As part of major plans to expand its routes, Novoair, one of the leading private airlines of the country, is going to spread its wing to six international destinations by June.

Only a slight rise in the policy rate, which is the rate at which the central bank lends money to commercial banks, may not tame inflationary pressure in Bangladesh as there are many reasons for elevated price levels, economists said yesterday.

The Bangladesh Bank (BB) is going to bring reforms to the banking sector after getting the go-ahead from the new government, and the banking regulator asked senior executives to prepare for those reforms at a meeting yesterday.

Businesses are likely to see their borrowing cost rise further thanks to an increase in interest rates, according to an outlook unveiled yesterday.

The economy is going through a crisis as evidenced by the deterioration in all economic indicators. Prof Rashed Al Mahmud Titumir, chairman of the development studies department at the University of Dhaka, talks about the steps that were missing as inflation surged and what needs to be done now to bring the situation under control, in an interview

Advanced Chemical Industries (ACI), a leading conglomerate in Bangladesh, had plunged into losses during the October-December period of the current fiscal year (FY) mainly due to higher finance costs.

Bangladesh’s power purchase from Adani Power contributed to the massive profit the Indian conglomerate made in the first nine months of the 2023-24 fiscal year.

The Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN), the biggest economic zone in Bangladesh, is set to be a gamechanger for the country’s trade as its strategic location offers easy access to domestic and international markets.

Imports of capital machinery edged up in the first six months of the fiscal year (FY) 2023-24, reversing the downturn that persisted for nearly one and half year as political uncertainty ebbs and exporters expect increased orders from western buyers.

The Bangladesh Bank is injecting fresh funds into the economy despite adopting a contractionary monetary policy, a contradictory move that may make it harder to tame stubborn inflation.

Textile millers yesterday demanded that the government re-fix gas prices at the previous rate as they have been unable to run their industrial units due to low pressure of gas despite the rates being doubled since February 2022.

Bangladesh has delivered decent economic growth relative to the rest of the globe braving the coronavirus pandemic, supply chain disruptions, successive wars and macroeconomic stress. However, labour market recovery since the pandemic has been anemic. There are lingering concerns about growth lacking the shine of good jobs.

The new monetary policy will not be enough to help Bangladesh rein in higher inflation as the central bank has come up with inadequate measures against huge expectations, economists and experts said yesterday.