The Bangladesh Bank (BB) has formed a $500 million fund to contain erratic movements in the foreign exchange market, as the country moves towards a more flexible exchange rate regime in line with International Monetary Fund (IMF) conditions.
Digital boxes ease product delivery, pickup in Dhaka
Commodity exchange launch: CSE targets 2025, eyes cotton, gold
The stock market has bounced back strongly within two months of falling to its lowest in the past five years, thanks to some macroeconomic-level recoveries, including a drop in inflation and the strengthening of the local currency against the greenback.
Banks have several layers of professionals to regularly assess their financial health and raise early warnings at the first sign of trouble.
Renata PLC, one of the country’s leading pharmaceutical companies, discontinued nearly 30 percent of its product line in the last fiscal year after production costs outpaced selling prices, according to the company’s chief executive officer (CEO).
Nineteen banks failed to pay any dividend to shareholders for 2024. While seven posted losses, the remaining 12 reported profits but were barred from dividend payouts due to inadequate capital and deferred provisioning for bad loans.
Twenty-one banks managed to keep their bad loan ratios under 5 percent of their total lending, even amid turbulence last year that rattled the sector and eventually pushed up the industry average of bad loans to 16.8 percent.
IFIC Bank has served a legal notice to Shakib Al Hasan Agro Farm Ltd, an entity owned by its namesake and the former captain of the Bangladesh national cricket team, after a cheque issued by the company bounced.
The Awami League government favoured the super-rich who controlled capital and laundered the funds aboard, dampening the country’s economy.
The share prices of Sea Pearl Beach Resort and Spa Limited soared from Tk 60 to Tk 320 on the Dhaka Stock Exchange (DSE) within just one year after frenzied speculation in 2023 that a foreign investor would buy a significant stake in the company.
Stocks in Bangladesh plummeted to a four-year low yesterday, just a day after the stock market regulator formed an inquiry committee to investigate the reasons behind the market’s sharp decline.
The stock market index has been on a downward trajectory for the past two months, as a brief surge following the August political changeover quickly fizzled out.
Unlike other companies in Bangladesh, banks and non-bank financial institutions have not been fully adhering to the International Financial Reporting Standards (IFRS), so the real scenario of the financial sector is hidden from public view.
Alleged discrepancies in financial records and subsequent board restructuring and non-payment of dividends to investors over the past five years have done little to dissuade Uttara Finance and Investments from going for lavish expenditures this year.
After a long time, foreign investors are showing renewed interest in buying shares of listed companies in Bangladesh as they hope good governance will return to the local stock market following the recent political changeover.
Bangladesh could increase its output in the manufacturing, service and farming sectors by up to 29 percent simply by bringing more women into the workforce, according to the World Bank.
The Washington-based multilateral lender’s Business Ready (B-Ready) report, which was released yesterday, also places Bangladesh in the fourth tier of five stages for public service delivery, indicating weaker performance in this area too
