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.
BGMEA President SM Mannan Kochi says in a press briefing today
The Bangladesh Bureau of Statistics says in quarterly GDP estimate
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.
As such, at least a dozen e-ticketing platforms have emerged aiming to capitalise on people’s preference for convenience when availing transport facilities, according to market players.
Troubled state-owned BASIC Bank is likely to be acquired by private sector lender City Bank as the central bank is forging full steam ahead with its plan to engineer the takeover of weak banks with stronger ones.
The BB said this will come into effect from September 30 this year.
The decision to carry out the audits comes although the claims of the first audits into the operators haven’t been settled yet.
Workers of three RMG factories demonstrated in Gazipur city’s Basan area yesterday, demanding their arrears.
Following two years of dull demand, home furniture sales went up slightly in the lead-up to Eid-ul-Fitr, the biggest religious festival for the Muslim community in Bangladesh, as people went on a buying spree despite ongoing inflationary pressure, according to industry people.
As of yesterday, 51.21 percent, or 4,849 out of 9,469 mills and factories, did not pay the salaries for the month of March, data from the Industrial Police showed.
The central bank also directed banks to ensure mandatory clearance certificates from utility service providers before approving loans.
According to the IFC, the food and beverage sector, a key pillar of Bangladesh's economy, accounts for around 13 percent of the manufacturing production in value and employs 19 percent of the industrial workforce with a projected compound annual growth rate of 12 percent.
The Bangladesh Jute Mills Corporation continues to be mired in losses due to the huge payroll burden of its 25 closed factories since 2020.
Bangladesh has sought duty-free access for its products shipped to Brazil to reduce the bilateral trade gap.
The cabinet committee on economic affairs says
The multinational bank made Tk 43 crore in 2023, up from the previous year's Tk 13 crore
Megafarms are being set up to produce camel milk on industrial scales
Beijing's commerce minister dismissed as "groundless" US concerns that a surge of low-cost Chinese exports posed a risk to global markets, as Washington's Treasury chief on Monday wrapped up a visit aimed in part at addressing the issue
Some 70% have already paid festival bonus, Industrial police say
Leather exports rose 9.8% year-on-year in Jul-Mar of FY24
Ueda said the central bank could "respond with monetary policy" if currency moves significantly drive inflation and wages, suggesting sharp yen falls could affect the timing of the next rate hike
Hopes of keeping the crown have rested on a long-promised $25,000 model. If the project gets scrapped, as Reuters reported on Friday, boss Elon Musk has one remaining advantage: using Tesla’s data trove to develop self-driving technology
Global food prices rose in March, the first increase since July, pulled higher by cooking oil prices despite the cost of grains continuing to ease, the UN's Food and Agricultural Organization said Friday
National Housing Finance has launched an Islamic wing at the company’s head office in Dhaka today.
Prof Eaysmin Ara Lekha, vice-chancellor of Uttara University, was conferred a Doctor of Literature (D.Litt) by Ranchi University on Friday, said a press release
Md Mohsin Habib Chowdhury has recently been appointed as a director of Berger Paints Bangladesh.
Essential Drugs Company, a pharmaceutical company, recently penned a contract with MetLife to provide insurance facilities to its employees.
Today is the 28th death anniversary of MA Haque, former minister, top ranking police officer, writer, and founder president of Bangladesh Association of International Recruiting Agencies (BAIRA), said a press release
SM Mannan (Kochi), the newly elected president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), today formally took the charge of the association as the president for the 2024-26 tenure.
Prof Shibli Rubayat-Ul-Islam is likely to be reappointed as the chairman of Bangladesh Securities and Exchange Commission (BSEC) for another four-year term
Kutubuddin Ahmed, chairman of Envoy Legacy, Sheltech Group and Green Textile, and Tanvir Ahmed, his son and managing director of the three entities, have been recognised as Commercially Important Persons (CIP) for 2022 for their contributions to the textile and manufacturing industries
The price of potatoes has begun an upward climb in the market
Based on the compilation of media reports on bank scams between 2008 and 2023, CPD said as much as 92 thousand crores of taka have been siphoned out of the banking sector in the last fifteen years
How can Bangladesh avoid the economic crisis to deepen further?
What are WTO’s duty-free benefits?
Why is Bangladesh facing economic problems? Why did the country fail to follow the IMF's loan conditions? What are the remedies?
Dhaka stocks edged up in the morning trade today, reflecting a buying sentiment among investors after the market suffered major losses in recent weeks
In February, banks lent Tk 15.76 lakh crore to the private sector, which was 9.96 percent higher year-on-year, showed data of Bangladesh Bank.
The British multinational bank logged profits of Tk 2,335 crore in 2023, up from Tk 1,655 crore in 2022, according to its financial reports.
He also suggested the government increase direct taxes on wealthy people so that people with low incomes need not be overburdened with tax.
Although there is no accurate data on the market for electronic home appliances, industry insiders believe that sales during Eid-ul-Fitr account for around 60 percent of their annual receipts.
Last week, the finance division issued a circular asking all ministries and divisions to send by April 29 their budget proposals for 2024-2025 and their expenditure plans for the following two financial years to help prepare the midterm budgetary framework.
Telecom operators and experts in Bangladesh yesterday demanded restructuring taxation in the sector, arguing that the rates in place are not only limiting the sector’s growth, but also potentially hindering the implementation of “Smart Bangladesh”.
Md Saidul Islam has recently been re-elected as chairman of Jamuna Bank for another one year.
Shahjalal Islami Bank recently organised the 376th meeting of the Board of Directors of the bank at its corporate head office in Dhaka.
The ministry of power, energy and mineral resources has sought the undisbursed subsidy at the earliest to continue with uninterrupted electricity supply during the summer months.