Economy
ADB forecasts 6.1% GDP growth for Bangladesh in FY24, higher than World Bank’s
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.
All member factories completed paying March salary, Eid bonus: BGMEA
BGMEA President SM Mannan Kochi says in a press briefing today
Workers of 3 RMG factories in Gazipur stage demo for arrears
Workers of three RMG factories demonstrated in Gazipur city’s Basan area yesterday, demanding their arrears.
Economy grows by 3.78% in Oct-Dec, slowest in three quarters
The Bangladesh Bureau of Statistics says in quarterly GDP estimate
UCB plans to take over troubled National Bank
United Commercial Bank (UCB) is likely to take over trouble-ridden National Bank Ltd (NBL), according to officials of the lenders.
No respite to consumers: Inflation edges up in March
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.
Furniture sales rebound on buying spree ahead of Eid
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.
BTRC to open fresh audits into GP, Robi
The decision to carry out the audits comes although the claims of the first audits into the operators haven’t been settled yet.
Loans to become overdue 3 months after repayment date
The BB said this will come into effect from September 30 this year.
Online ticketing platforms sprout amid quest for convenience
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.
50% factories yet to pay salary of March
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.
No power, gas supply for new factories outside economic zones
The central bank also directed banks to ensure mandatory clearance certificates from utility service providers before approving loans.
Pran gets $30m from IFC amid dollar shortage
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.
Govt seeks duty-free access to Brazil
Bangladesh has sought duty-free access for its products shipped to Brazil to reduce the bilateral trade gap.
City Bank likely to take over BASIC Bank
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.
BJMC racking up losses for payroll burden
The Bangladesh Jute Mills Corporation continues to be mired in losses due to the huge payroll burden of its 25 closed factories since 2020.
New industries outside economic zones will not get electricity, gas
The cabinet committee on economic affairs says
Bangladesh has capacity to become upper middle income country by 2031: ICCB
Leading chamber body’s latest news bulletin highlights challenges, opportunities for Bangladesh economy in 2024
