A third of budget spent on interest payments, subsidies
The government spent Tk 246,583 crore in July-January of 2023-24 out of the total budget of Tk 761,785 crore for the entire fiscal year, figures from the finance ministry showed. The outlay under interest payments and subsidies was Tk 88,226 crore, which was 36 percent of the allocation.
8h ago
Stocks lose lustre as investment tool
Since the floor price removal, the stocks have been bleeding owing to massive sell-offs by local and foreign investors as the economic uncertainty persists
2d ago
Higher debt to put strain on Bangladesh as revenue remains low
In the last decade, the debt-to-GDP ratio rose by 13 percentage points. The IMF forecasts that the ratio will reach 43.5 percent in 2028-29.
1w ago
Social safety net to get wider and better
A top official of the ministry said the government would increase the number of beneficiaries in two major schemes – the old age allowance and the allowance for widows, deserted, or destitute women.
1w ago
StanChart saw record Tk 2,335cr profit in 2023
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.
2w ago
Can merger be panacea for banking sector’s ills?
The merger guideline for banks and financial institutions is being hailed as a major step towards fixing the problem in the financial sector, which has been weighed down by massive default loans and weak corporate governance.
3w ago
Dollar crunch dampens multinationals’ mood for eye-popping dividends
Last year, MNCs paid Tk 5,060 crore as dividends, representing 72 percent of the total earnings while in 2022, they gave out Tk 6,346 crore in dividends, which accounted for 95 percent of the profits.
1m ago
Stocks sink to lowest level in 3 years as investors sell and go away
Bangladesh’s stock market has been going through a bear run for the last two months despite petering out of election-linked uncertainty, signaling that the worries about the macroeconomic challenges are far from over.
1m ago
January 23, 2024
Corporate profit squeezed by energy cost, currency shock
Despite higher sales, profit of listed companies dropped 20 percent, with depreciation of local currency and higher energy cost to blame
January 22, 2024
Power producers saw profits erode in FY23
Devaluation of local currency, reduction of capacity charge caused power companies profits to erode in FY 2022-23
January 21, 2024
Food makers’ sales growth halves amid higher inflation
Inflation is the leading cause of the slow growth of leading food makers
January 21, 2024
'Floor price for stocks should not be reintroduced'
Floor price should not be reintroduced as its unfriendly to both investors and market, said Saiful Islam, president of DBA
January 19, 2024
Listed apparel exporters' profit drops 50% despite strong dollar
Even with taka's devaluation, profits of listed export-oriented garment makers declined heavily for higher costs
January 19, 2024
Regulator lifts floor price curbs on most stocks after 18 months
After 18 months, BSEC yesterday withdrew the floor price for most stocks, to bring back vibrancy to the market
January 18, 2024
Higher production costs blindside building material industry
Despite registering higher revenue, building material makers profits were down for increasing production costs
January 17, 2024
USD shortage, inflation slowing automobile sales
Automobile sales in Bangladesh recorded the steepest fall in profits among all sectors in fiscal 2022-23
January 16, 2024
Pharma profit falls for first time in five years as costs escalate
Rising production cost is the primary reason for the shrinking profits of pharma companies in Bangladesh
January 11, 2024
Olympic's annual biscuit sales cross Tk 2,500cr for the first time
Rising sales for packaged bakery and confectionary items helped Olympic Industries to cross Tk 2,500 crore in sale
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