The provision shortfall in the banking sector has increased more than six times to Tk 170,655 crore over the past year, Bangladesh Bank data show, exposing the fragile financial health of commercial lenders due mainly to large-scale scams and irregularities during the previous regime.
The interim government has planned to nearly double its public food storage capacity to 37 lakh tonnes in the next fiscal year.
The ongoing conflict between Iran and Israel may present a fresh challenge to Bangladesh’s readymade garment (RMG) sector, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
The National Board of Revenue (NBR) needs to collect Tk 141,000 crore this month to meet its revenue target of Tk 463,500 crore for the current fiscal year—an impossible task, analysts said.
The government’s total outstanding debt has increased by 2.93 percent in the first six months of the current fiscal year till December 2024 and reached Tk 1,944,171 crore, which is increasing the pressure of debt servicing in the budget.
Chattogram port has set a new record for container handling, surpassing last year’s total even before the current fiscal year ends in June, according to a statement by the Chattogram Port Authority (CPA) yesterday.
There is a growing debate in Bangladesh over whether banks’ heavy investment in treasury securities, instead of lending to the private sector, reflects a failure of the sector. After all, we have long understood that banks are supposed to lend to businesses, entrepreneurs and individuals to help drive economic growth. With private sector credit growth dwindling at 7.5 percent, some are calling for penalties or restrictions on banks that invest in treasury securities.
The costs of chartering tankers to move oil from the Middle East to Asia have climbed and ship bookings have slowed as the Israel-Iran conflict fuels worries of potential disruptions, industry sources told Reuters on Monday.
Malek Spinning has decided to close down its textile unit of its subsidiary named Salek Textile due to accumulated loss.
The International Monetary Fund has slightly raised its projection for the economic growth of Bangladesh to 6.6 per cent for this fiscal year, up from 6.5 per cent it forecast in October.
The Summit Power has closed its gas-fired Madhabdi Power Plant Unit-2 as the plant’s power purchase agreement with the government has expired.
The Bangladesh stock market index started the week with a massive fall today as investors went for a selling spree.
A Japanese former politician who campaigned to bring billions of dollars of investment from some of Japans top companies to Myanmar has urged Japan to endorse its military regime, saying the nation’s coup leader has “grown fantastically as a human being,” while praising his “democratisation efforts.”
Establishing a pro-taxpayer environment in an emerging economy like Bangladesh where the tax-GDP ratio is hovering around 10-11 per cent requires a very close review of existing rules and regulations one by one, if not word by word in fitting with present day demand of social norms and business practices.
Four local companies bagged awards in as many categories at the Asia Pacific ICT Alliance (APICTA) Awards 2020-21, Bangladesh Association of Software and Information Services (BASIS) said yesterday.
For the past two weeks, the movement of major indices in Bangladesh’s stock market has been influenced by speculations over possible meetings between the regulators and subsequent policy changes, according to experts.
Eminent economist Debapriya Bhattacharya has been reappointed as a member of the Committee for Development Policy (CDP), a subsidiary body of the United Nations Economic and Social Council (ECOSOC).
Three government entities have failed to carry out a study to find out the amount of illicit financial flow from Bangladesh, where they were siphoned and how as part of the country’s efforts to contain cross-border money laundering.
