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
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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.
Motijheel, once the pulsing heart of Dhaka’s trade and commerce, has become a shadow of its former self. Empty office floors now whisper tales of abandoned ambitions.
Sonali Bank has decided to sell the assets of Alltex Industries through auction in a bid to recover unpaid loans of the listed textile producer.
Bangladesh ranks among the countries with the highest income disparities globally, but there is another problem way worse than that: wealth inequality, which means a minuscule portion of the population owns a disproportionate amount of wealth compared to the majority.
The Bangladesh Bank (BB) has backtracked on its decision to refrain from injecting fresh funds into crisis-hit banks in its efforts to curb persistent inflation.
Ailing lender Islami Bank recently announced that it planned to raise a total of Tk 20,000 crore using two methods: Tk 10,000 crore would be realised by selling the stake that S Alam Group holds in the lender and the rest would be made up through the issuance of new shares.
Aminur Rahman was excited after hearing that the company he had invested in had recently been upgraded to A-category. Anticipating price gains, he rushed to his brokerage house, only to be met with disappointing news: he was unable to trade.
The Bangladesh Securities and Exchange Commission (BSEC) has sought detailed information, including portfolio statements, of 117 beneficiary owner (BO) accounts with which the owners of Beximco Ltd are allegedly involved.
When an interim government was sworn into office following the ouster of the Awami League regime just 100 days ago, there was an air of expectation that the Prof Muhammad Yunus-led administration would take steps to salvage a scam-ridden financial sector and rescue an ailing economy.
Designated as a basket case after gaining independence in 1971, Bangladesh silenced even its harshest critics as it transformed into one of the world’s foremost development cases.
Bad news for Beximco Sukuk investors: their gain from the Shariah-compliant bond-like instrument next month is set to drop to 9 percent -- below the 12.3 percent yield from five year-tenure treasury bonds and the 10.87 percent inflation rate in October.
