Economy
'Steel industry now a risky place for fresh investments'
Chowdhury also said it is really difficult to predict when the demand for steel will rise once again as no one knows when the ongoing economic crisis will let up.
Social spending gets less priority in lopsided budgets
In FY22, the spending on public services increased to 15 percent of the total actual expenditure, nearly double the rate in FY09. Similarly, spending on the transport and communication sector surged to 12 percent from 4.7 percent in FY09.
FDI inflow is shrinking. Here's why
In 2023, existing companies reinvested earnings of $2.20 billion out of total net FDI inflow of $3 billion. This means that 73.5 percent of FDI came from existing investors.
AkijBashir set to enter glass market, invests Tk 2,200cr
Akij Glass Industries, a concern of the group, has invested around Tk 2,200 crore to set up a factory on over 125 acres of land in Madhabpur upazila of Habiganj, some 114 kilometres east of capital Dhaka.
RMG export prices fall up to 16% in last 8 months
International market prices declined mainly because of a fall in demand from end consumers suffering from high inflationary pressure due to the severe fallouts of Covid-19 and Russia-Ukraine war.
Mercantile Bank redirects focus to SME, retail lending
Mercantile Bank PLC used to emphasise corporate lending but now the private commercial lender plans to redirect the focus in order to bring the unbanked people under the financial system by providing more loans to small and medium enterprises, retail and agriculture, said its top executive.
Narrowest budget deficit in a decade as govt to curb expenses
As the government wants to lower expenses, it is likely to contain the budget deficit to 4.6 percent of gross domestic product in the next fiscal year, a level seen a decade ago.
New Customs Act 2023 to come into effect on June 6
A new Customs Act 2023 will come into effect from June 6 this year aiming to enhance fiscal discipline, accountability in import revenue collection and trade facilitation.
DCCI seeks more Russian investments in power and energy
A 14-member Russian trade delegation meets Dhaka Chamber president
BSEC freezes BO accounts of Benazir, his family members
The Anti-Corruption Commission has recently requested the BSEC to freeze the BO accounts
Bangladesh okays Tk 8,483 crore WB project for Rohingyas
The WB-funded cluster project will also serve the host communities
Dhaka Stock Exchange urges NBR not to impose new tax on capital gains
The Dhaka Stock Exchange (DSE) has demanded no imposition of tax on the capital gains in the upcoming budget for the 2024-25 fiscal year
ADP implementation slows to three-year low
Government spending under the Annual Development Programme (ADP) slowed to a three-year low in the first 10 months of the current fiscal year (FY) of 2023-24, with the implementation rate dropping to 49.26 percent.
Fitch lowers Bangladesh rating as external buffers weaken
“BB” ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time. It, however, means business or financial flexibility exists that supports the servicing of financial commitments.
Bangladesh, Japan begin formal talks to sign trade deal
Three rounds of meetings of the joint study group were held last year to pave the way for last week’s formal launch of the negotiation.
Cargo delivery from port yards resumes partially
Cargo delivery from the yards at the Chattogram port resumed partially yesterday morning and continued on a limited scale as the impact of cyclone Remal began to wane.
Bogura emerging as a hub for used automobiles
A major hub for the sale and repair of motor vehicles has gradually emerged in Bogura over the past two years, drawing an estimated investment of Tk 1,000 crore.
Pran-RFL gets nod to use land of shuttered govt textile mills
Pran-RFL Group is going to build factories to manufacture products related to textiles on the land of two shuttered mills of the Bangladesh Textile Mills Corporation under a public-private partnership.
