WB lowers Bangladesh’s economic growth projection

Bangladesh's economy may grow at a slower pace in the current fiscal year than it did in the previous year as it faces significant economic headwinds such as high inflation, external payment pressure, financial sector vulnerabilities and uncertainty, the World Bank said today.
3 October 2023, 06:33 AM

Leather footwear exports fall to five-year low

Bangladesh's leather footwear industry saw its export earnings fall to a five-year low of $141.83 million in the first quarter of the current fiscal year due to a decline in export orders from the Eurozone in the face of the ongoing economic crisis..According to data from the Export Promot
3 October 2023, 01:45 AM

Weak batch of data paints economy’s deepening woes

Bangladesh wrapped up the last fiscal year of 2022-23 with slower economic growth. A similar trend has persisted in the ongoing fiscal year as portrayed by at least three key indicators: exports, remittances and imports. .The growth of export receipts, the biggest foreign currency earner f
3 October 2023, 01:15 AM

8 banks’ provision shortfall over Tk 26,000cr

Eight banks, including five private commercial ones, had faced a provision shortfall of Tk 26,134.75 crore in total at the end of June this year, an indication of their fragile financial health..The eight are Agrani Bank, BASIC Bank, Rupali Bank, National Bank, Dhaka Bank, Bangladesh Comme
3 October 2023, 01:00 AM

Knitwear’s export performance stronger than woven

Shorter lead times, easy availability of raw materials in the domestic market and changes in global fashion have made knitwear items the top export from Bangladesh..In July-September of the current fiscal year, knitwear item shipments rose 19.70 percent year-on-year to $6.76 billion compar
3 October 2023, 00:48 AM

External debt nears $100b

Bangladesh’s overall external debt stock nearly hit the $100-billion mark in June driven by increasing appetite for funds from both public and private sectors, central bank figures showed. .The debt buildup, which still within the threshold recommended by the International Monetary Fund
3 October 2023, 00:35 AM

Bangladesh's growth still lowest in South Asia: expert

Although agricultural productivity is growing in Bangladesh, its rate of progress in this regard remains the lowest among nearby countries in South Asia and beyond, according to an analyst..As per the World Development Indicators (WDI), an index comprising international statistics on globa
3 October 2023, 00:00 AM

Board yet to propose minimum RMG wage

A board formed for recommending the minimum wage for garment workers could not come up with any proposal on the monthly rates even at its third meeting held in Dhaka yesterday. 
2 October 2023, 01:30 AM

TV sales down despite Cricket World Cup

With just days to go before ICC Cricket World Cup 2023, television purchases should have naturally picked up by now, with demand primarily expected to arise from sports enthusiasts trying to make do with limited means. 
2 October 2023, 01:00 AM

Default loans hit an all-time high

Non-performing loans (NPLs) in Bangladesh’s banking sector hit a new record in June as withdrawal of a relaxed central bank policy, slowdown in business sales and deliberate non-payments pushed up the volume of bad loans to Tk 1,56,039 crore, central bank data showed.
2 October 2023, 00:00 AM

Perennial financial insolvency of small enterprises

Micro, small, and medium enterprises (MSMEs) perform essential economic functions as major drivers of economic growth and social progress in Bangladesh as in other countries.
1 October 2023, 18:00 PM

3 banks get nod to issue bonds of Tk 1,600cr

Dutch-Bangla Bank Ltd (DBBL), Brac Bank Ltd and One Bank Ltd have got permission from the Bangladesh Securities and Exchange Commission (BSEC) to issue bonds worth Tk 1,600 crore collectively.
1 October 2023, 18:00 PM

Scrap-based apparel makers in trouble

Md Sharif Hossain, a small garment manufacturer, established a large-scale factory in Pabna sadar upazila a few years ago in a bid to manufacture apparel from garment scraps, locally known as "jhoot", and export to the Indian market..Manufacturing clothes from garments waste, namely jhoot,
28 September 2023, 02:30 AM

Amusement parks turn over Tk 5,000cr annually

Investment in Bangladesh’s amusement and theme park segment is on the rise as investors are pumping money into the fast-expanding industry to serve visitors, according to industry people..About Tk 12,000 crore has been invested in the sector in the last two decades and about 6 lakh people
28 September 2023, 02:00 AM

BB asks 15 banks to improve financial health

Bangladesh Bank yesterday passed directives on 15 banks through its observers and coordinators to improve their financial health.
27 September 2023, 22:12 PM

Canada wants labour law reforms

Canada wants Bangladesh to reform labour laws in line with recommendations from the International Labour Organisation (ILO) to secure the Canadian General Preferential Tariff (GPT) Plus scheme and enjoy the zero-duty benefit after graduation from least developed country (LDC) status in 2026.
27 September 2023, 22:08 PM

The saga of ‘easy money’ in Bangladesh

I would deliberately put “black money”, “easy money” earned through political cronyism, or even “unearned income” in the same bracket. .In the world of finance and economics, the term "black money" often raises eyebrows. It alludes to the enormous sums of money that move covertly, out o
27 September 2023, 18:00 PM

Nearly 11,000 Bangladeshi firms members of Dubai chamber

The number of new Bangladeshi companies joining the Dubai Chamber of Commerce has surged 47 percent year-on-year to 1,044 in the first half of this year, said the chamber. .With the latest addition, the total number of Bangladeshi firms registered as members of the Dubai chamber rose to 1
27 September 2023, 17:59 PM

Japanese, Chinese firms to build 370MW solar power plants

Two Japanese companies and one Chinese firm have received approval from Bangladesh to invest in three solar-based power plants..The cabinet committee on purchase gave its nod to the project proposals yesterday. The plants will be built in Dinajpur, Bandarban and Feni..The plants will
27 September 2023, 17:58 PM

Infrastructure for tourism not built in planned way

Infrastructure facilities for the tourism sector in Bangladesh have grown on the basis of demand but not in a planned way, said Jatiya Sangsad Speaker Shirin Sharmin Chaudhury yesterday..“We have to determine the existing demands and build up the tourism sector in a planned way in differen
27 September 2023, 17:56 PM