The central bank governor projects cooling the red-hot inflation, which has hovered above 9 percent since March last year, to 7 percent by June next year.
The Asian Development Bank (ADB) has become the first among multilateral and bilateral lenders to respond to the interim government's call for budgetary support, approving $600 million aimed at easing pressure on foreign exchange reserves and accelerating economic recovery.
Bangladesh’s national budget for fiscal year 2024-25 is likely to be reduced by more than Tk 50,000 crore, with the entire cut expected to be made in funds meant for the annual development programme (ADP).
Bangladesh, mired in data fog, has “sleepwalked” into the middle-income trap according to the white paper on the state of the country’s economy.
Distressed assets in the banking sector have reached a whooping Tk 6,75,030 crore, an amount bigger than the cost of building 22 bridges across the Padma or 13.5 metro rail systems in Dhaka, according to a White Paper released yesterday.
Despite rising interest rates on deposits and various efforts by the central bank, Bangladesh’s banking sector continues to face a liquidity crisis that has hamstrung some lenders.
Moody’s has downgraded Bangladesh’s banking sector to “very weak” from “weak”, citing worsening client confidence, limited transparency and inadequate financial safeguards over the past year.
When most non-bank financial institutions (NBFIs) in Bangladesh are in hot water with high ratios of non-performing loan (NPL), a handful have been successfully able to keep the rate low.
The sixth population census of the country is set to see further delays as the Bangladesh Bureau of Statistics (BBS) has failed to conduct it as per schedule, although three years have passed since drawing up a master plan.
Bangladesh will have to pay $188.4 million to the New Development Bank (NDB) as paid-up capital for being a member of the new international lender.
Just two years after first entering the Bangladesh market, German sportswear giant Puma is going to further expand its horizon in the country.
Poultry farmers, who have already been hit hard by the pandemic, are struggling to survive due to low prices of chicken currently prevailing in the market coupled with a sharp rise in feed prices.
The Bangladesh Bureau of Statistics (BBS) is going to publish the gross domestic product (GDP) growth data every quarter from the next fiscal year.
A number of customers of Nagad have alleged that they were facing troubles in carrying out transactions on their accounts as the mobile financial service provider has suspended them on suspicion of unusual transactions with e-commerce platforms.
The already low incomes of skilled and unskilled workers have been squeezed further for last month’s countrywide lockdown, making it more difficult for them to stay afloat amid the Covid-19 fallout.
The government has saved about Tk 12,000 crore by embracing austerity in purchasing cars for its officials since the pandemic struck Bangladesh, a development that offers the scope to look into how to cut costs.
The central bank will lend $50 million to under-pressure Sri Lanka this week as part of Bangladesh’s efforts to support the Island nation suffering from a foreign exchange crisis.
New mango varieties are getting priority on consumers’ list of preferences for being tastier and more attractive than the existing ones.
