Ahsan Habib

Traditional lenders fall behind Islamic banks in profit growth

Conventional lenders in Bangladesh fell behind shariah-based banks in 2022 in terms of profit growth mainly due to the lower interest rate regime.

14h ago

StanChart breaks record with Tk 1,655 crore profits

No bank in Bangladesh has ever made so much profit in a year

1d ago

Sustaining dev, curbing inequality major challenges

Sustaining the development that has taken place in Bangladesh in the past 14 years and curbing inequality are key major challenges facing the economy owing to the fallout of the coronavirus pandemic and the Russia-Ukraine war, said Planning Minister MA Mannan.

1d ago

Why insurance stocks surging in a dull market

Shares of most of the insurance companies rose almost every day in the last one month, becoming an outlier in a market that has been dull for several months due largely to persisting economic uncertainty at home and abroad.

4d ago

How DBH managed to keep its NPLs so low

While a number of banks and non-bank financial institutions (NBFIs) are struggling to rein in their non-performing loans (NPL), DBH Finance PLC has continued to maintain the lowest NPL to loan ratio in the industry for years.

6d ago

Industrial slump leads to GDP growth slide

Bangladesh’s gross domestic product is estimated to have grown at a slower pace in the current financial year with the biggest blow stemming from the industrial sector, official figures showed.

1w ago

Islamic banks post higher profit despite troubles

Most of the Shariah-compliant banks in Bangladesh clocked higher profits in 2022 despite a fall in deposits and the unprecedented fund withdrawal by customers and liquidity crunch.

2w ago

GDP growth slows to 6.03% in FY23

The economy is estimated to have expanded at a slower-than-expected pace in 2022-23, said the Bangladesh Bureau of Statistics (BBS) yesterday, a figure that analysts describe as good in view of elevated inflation, slowing exports and remittances and the ongoing pressure on the country’s foreign exchange reserves.

2w ago

Foreign banks’ forex income soars

The earnings of foreign banks operating in Bangladesh rocketed in 2022 buoyed by their incomes from the dealings of international currencies.

2w ago

Bad loans pile up at state banks, eating away profits

Four state-run commercial banks registered 29 per cent year-on-year spike in bad loans in 2022 as the central bank’s relaxed classification rules introduced in the wake of the Covid-19 outbreak ended and their inefficient lending persisted.

3w ago

Power companies’ profits fall amid dollar crisis

Profits of all power generation companies dropped in the July-March period of fiscal year 2022-23 and some of them even incurred huge losses mainly due to a huge depreciation of the value of the taka against the US dollar that ultimately increased their costs.

3w ago

Higher costs, volatile dollar hit drug makers’ profits

Most of the listed pharmaceutical companies in Bangladesh logged lower profits despite higher sales in July-March of the current financial year owing to a spike in the cost of production.

3w ago

Uttara Finance officials yet to face the music for Tk 5,100cr scam

Uttara Finance Ltd is yet to take any major steps against the officials allegedly involved in the Tk 5,100 crore scam unearthed by the Bangladesh Bank although four months have passed since the central bank directed it to bring the culprits to the book.

3w ago

Foreign funds in stocks on the wane

Foreign investments in the Dhaka Stock Exchange have maintained a downward trend since 2018 despite the regulator’s efforts to retain existing investors and attract new ones.

A depressing Eid for stock investors, brokers

This year’s Eid-ul-Fitr has turned out to be yet another depressing festival for many stock investors as few could sell shares to meet the vacation’s shopping expenses amidst the presence of floor price.

bKash returns to profit on higher finance income

Bangladesh’s largest mobile financial service company bKash returned to profit in 2022 on the back of higher net finance income, snapping a three-year losing streak.

bKash to invest Tk 87 crore in 2023 to improve services

The MFS provider made a profit for the first time in four years

How to de-stress Eid shopping amid price hike

When a major festival like Eid knocks on the door, the memory of going to markets or shopping malls to buy new clothes and footwear items, eating sweets and receiving gift money from elderlies comes to mind.

Lessons learned from disruptions caused by Covid-19, war

The business sector in Bangladesh has been going through severe challenges for the past four years, which, for many, have been the toughest period in decades, with the coronavirus pandemic being the dominant factor in the early part before the Russia-Ukraine war broke out. Today, we are running the last report of a series and it focuses on the lessons for the businesses from the two unprecedented shocks.

A perfect storm for SMEs

The business sector in Bangladesh has been going through severe challenges for the past four years, which, for many, have been the toughest period in decades, with the coronavirus pandemic being the dominant factor in the early part before the Russia-Ukraine war broke out. Today, we are running the fifth report of a series to present how various sectors fared in the face of the two unprecedented shocks.

Colgate to build factory in Bangladesh

Colgate-Palmolive (Asia) Pte Ltd, one of the largest manufacturers and suppliers of personal care products worldwide, is going to build a factory in Bangladesh in partnership with local conglomerate ACI Ltd to cater to the fast-expanding consumer market.

Power, telecom suffer, banks gain amid dollar crisis

Household income, expenditure nearly triple in 12 years

Monthly average household income and expenditure in Bangladesh doubled in the last six years and nearly tripled in 12 years, official figures showed yesterday.

Literacy rate in Bangladesh rises to 74%

The literacy rate in Bangladesh rose to 74 per cent in 2022, according to the Household Income and Expenditure Survey 2022 of the Bangladesh Bureau of Statistics (BBS).

Now non-banks making foray into Islamic finance

IDLC Finance Ltd, the largest non-bank financial institution in Bangladesh, is set to launch its Islamic financing window as it looks to tap business opportunities in a segment that is growing rapidly at home and abroad.

High costs limit exporters’ gain from taka’s fall

The business sector in Bangladesh has been going through severe challenges for the past four years, which, for many, have been the toughest period in decades, with the coronavirus pandemic being the dominant factor in the early part before the Russia-Ukraine war broke out. Today, we are running the third report of a series to present how various sectors fared in the face of the two unprecedented shocks.

Interest cap, NPLs did more damage than Covid, war

The business sector in Bangladesh has been going through severe challenges for the past four years, which, for many, have been the toughest period in decades, with the coronavirus pandemic being the dominant factor in the early part before the Russia-Ukraine war broke out. Today, we are running the second report of a series to present how various sectors fared in the face of the two unprecedented shocks.

War hit private sector harder than pandemic

Companies in Bangladesh have been hit harder by the global turmoil induced by the Russian-Ukraine war than the crisis inflicted by the coronavirus pandemic

Labaid Cancer Hospital plans to go public

Labaid to invest Tk 1,000cr for 2nd cancer hospital

Labaid is going to invest Tk 1,000 crore to build its second cancer hospital in order to meet the growing demand from patients suffering from the deadly disease and support healthcare research, according to a top official.

Top officials of UFS laundered Tk 170cr

The Bangladesh Securities and Exchange Commission (BSEC) has decided to file a case against some top officials of an asset management company for laundering Tk 170.69 crore from four open-ended mutual funds.

Labaid Cancer Hospital plans to go public

It will be the second hospital after Samorita to go public

Should tax-free income limit rise as inflation bites?

Mohammad Firoz works at a garment accessories manufacturing company and earns Tk 29,000 per month.

Govt to form authority on public procurement

The government has prepared a draft law for ensuring transparency and accountability in public sector purchases while also improving efficiency in the sector.

Fast-track projects see better implementation

Implementation of eight fast-track projects under the Annual Development Programme (ADP) was at a good pace in the first seven months of the current fiscal year of 2022-23 while that of other projects was slower.

Akij Bashir Group aims to set new standards

Sheikh Bashir Uddin, former managing director of Akij Group, has begun a new journey in the name of Akij Bashir Group targeting to deliver products of impeccable quality, upholding the high standards associated with the legacy of the Akij name.

Dhaka bourse’s SME board falls prey to manipulators

Have you ever bought any pack of flour produced by Yusuf Flour Mills or heard the name of Yusuf Moyda, the brand under which the company is selling the item?

Bangladesh needs to create political momentum

Bangladesh needs to play a key role at the Doha Conference to create political momentum and translate that momentum into a United Nations resolution with a view to ensuring international support measures for a smooth transition of the graduating least-developed countries, said Debapriya Bhattacharya, a distinguished fellow of the Centre for Policy Dialogue.

Insurers’ asset, investment growth drops

The life and non-life insurance sectors have been in a tight spot for the past three years due to the economic shocks resulting from Covid-19 and the ongoing war between Russia and Ukraine.

Skills gap persistent challenge

Bridging the skills gap is a persistent challenge that needs to be addressed through public-private partnerships, said Sanjeev Krishan, chairperson of PricewaterhouseCoopers (PwC) for India, Bangladesh, Nepal and Bhutan

SMEs to conglomerates -- none left unscathed

Businesses of almost all segments of the economy have been passing tough times since last July, when the Russia-Ukraine war started to have an impact in a multitude of ways.

Why don’t indexes go with the flow of bearish stocks?

If you follow the Dhaka Stock Exchange (DSE), you will find that most of the shares on the premier bourse of the country ended the day either unchanged or they witnessed a drop. As a result, the indexes were supposed to fall.

State-run oil companies see higher profits

While most listed companies struggled to raise profits in the first half of 2022-23 owing to higher petroleum prices, listed state-run oil companies in Bangladesh saw a staggering double-digit growth in earnings.

Economic crisis sends 43 listed firms, mutual funds into losses

At least 43 listed companies and mutual funds fell to losses in July to December of the ongoing financial year after reporting profits in the identical half a year ago.

70% listed firms incur profit drop, losses

Around 70 per cent of listed companies in Bangladesh either suffered losses or witnessed lower profit in the July to December period of the current financial year due to the surge in production costs, the sharp depreciation of the local currency and lower consumption.