$6 billion foreign loan commitments may come by June: finance adviser
The commitments will come from multiple sources, including World Bank, IMF, ADB, Opec
NBR freezes bank accounts of Ananta Group MD and UCB Chairman Sharif Zahir
Sharif said he and his family members had contacted top officials of the NBR following the move, but no specific reason was provided
Roadmap is there to implement ILO conventions: commerce adviser
EU Ambassador Michael Miller calls on the adviser
Chevron to invest in new gas exploration in Bangladesh
The energy giant thanks the interim government for starting to clear overdue payments
Stocks start day with gain for second consecutive day
The DSEX rises 11.58 points as of 11:02 am
Labour market: A ticking time bomb
Bangladesh has an oversupply of tertiary graduates and the unemployment rate among the educated youth has grown 2.5 times since 2010 as they are ‘incompatible’ with the structure of the industries and the economy, according to the white paper on the state of the economy.
Jamuna Oil's Q1 profit jumps 48%
Strong interest income drives growth, company says
Govt may cut GDP growth projection to 5.25% this fiscal year
The interim government of Bangladesh will likely revise the country’s projection of gross domestic product (GDP) growth to 5.25 percent from 6.75 percent for the current fiscal year of 2024-25..This issue was discussed at a fiscal coordination council meeting chaired by Finance Adviser Sal
White paper on Bangladesh economy / Wealth inequality way worse than income disparity
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.
Economy
Moody’s told outdated story of Bangladesh
Moody's Ratings is narrating an outdated story of Bangladesh, not the updated one, said Bangladesh Bank Governor Ahsan H Mansur in a webinar yesterday.
BTRC lifts bar on local cache for faster internet
The Bangladesh Telecommunication Regulatory Commission (BTRC) yesterday repealed a directive it had passed in 2021 restricting small and medium-sized internet service providers (ISPs) from installing cache servers for their network..This policy reversal is expected to enhance internet spee
Stocks rise after two-day fall
The indices of the stock market in Bangladesh rose yesterday after falling for two consecutive trading days as investors poured funds on low-priced shares to pocket short-term gains amid price swings..The rise was led by an increase in share prices of companies like Islami Bank Bangladesh,
Govt must come up with two-year economic plan
The interim government must devise a two-year mid-term plan on how to steer the economy in addition to an assessment of the past months and a short-term plan for the upcoming six months, said Debapriya Bhattacharya, the chair of the white paper committee.
White paper on Bangladesh economy / Development narrative perhaps ended up as ‘delusion’
The narrative of economic development that the ousted Awami League (AL) government tried to establish perhaps ended up being a delusion even to the wirepullers, according to the white paper on the state of the economy.
IDRA gets four new members
Each of them was appointed on a contractual basis for the next three years from the date of joining on condition of renouncing work and relations with all other institutions and organisations, the ministry circular mentioned.
Powerful lobbies, elites and corporate interests thwart tax reforms
According to the white paper on the state of the economy
KEPZ decides to fast-track land registration
The chief adviser became the first head of state to preside over a meeting of the KEPZ governing body in nine years
Global Economy
Analysis / Why Mexico’s global trade sweet spot may turn sour
Last year, Mexico sent $475 billion of goods exports to the United States, surpassing China
US unveils fresh export curbs targeting China's chip sector
The announcement comes weeks before President-elect Donald Trump returns to the White House, where he is expected to bolster Washington's hawkish stance on China
US Fed officials see inflation fight as broadly on track
New York Fed President John Williams said inflation was now "within striking distance" of two percent.
OpenAI's Altman confident Trump will keep US in AI lead
"We need to build that here and we need to be able to have the best AI infrastructure in the world to be able to lead with the technology and the capabilities," he said.
Exclusive: Latest US strike on China's chips hits semiconductor toolmakers
The move marks one of the Biden Administration's last large scale effort to stymy China's ability to access and produce chips that can help advance artificial intelligence for military applications or otherwise threaten US national security.
China manufacturing expands for second straight month
China in November saw an uptick in industrial output for the second straight month, government data showed Saturday, an encouraging sign for officials as they battle stagnant activity.
Eurozone inflation rebounds but rate cut still on cards
Inflation in the eurozone rebounded further in November, new data showed Friday, but the longer-term outlook remained in line with European Central Bank targets -- with a new rate cut still expected next month.
Trump threatens 100% tariff on BRICS countries over currency plans
President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations if they undercut the US dollar.
Organisation News
Over 3.2m DPS opened thru bKash app in 3 years
Customers of bKash have opened over 3.2 million deposit pension schemes (DPS) with four commercial banks and a non-bank financial institution—IDLC Finance, Mutual Trust Bank, Dhaka Bank, City Bank and BRAC Bank—through the mobile financial service (MFS) provider’s app in a span of just three yea
International conference on Japan–Bangladesh Research held
The 3rd International Conference on “Japan–Bangladesh Research and Practice (JBRP 2024)” organised by the Network of Bangladeshi Researchers in Japan (NBRJ) was held recently on the virtual platform..The conference brought together approximately 75 researchers, academics, and professionals
Idcol pays govt Tk 50cr dividend
The Infrastructure Development Company (Idcol), a state-owned financial institution in Bangladesh, paid a cash dividend of Tk 50 crore to the government for the financial year of 2023..Md Shahriar Kader Siddiky, secretary to the Economic Relations Division and chairman of Idcol, handed ove
Alliance Finance holds workshop on sustainable finance
Alliance Finance PLC recently organised a workshop on “Sustainable Finance Strategy and Sustainability Plan” for its employees at the company’s head office in the capital’s Gulshan..Morshed Millat, a faculty member of the Bangladesh Institute of Bank Management and former director of the s
Mostary Zaman’s death anniversary today
Mostary Zaman retired as principal of Fazlul Huq Mohila College, Dhaka
Shanta Life Insurance begins its journey
Shanta Life Insurance PLC, a new venture of Shanta Holdings, began its operations yesterday.
ICAB opens new study centre in Mirpur
The Institute of Chartered Accountants of Bangladesh (ICAB) opened an “ICAB New Study and Counselling Centre” at Fahad Plaza on Road 1 in the capital’s Mirpur recently..Mohammed Forkan Uddin, president of the ICAB, inaugurated the centre, the organisation said in a press release..The
Inner Wheel brings out procession in Dhaka
The District 328 of Inner Wheel, one of the world's largest international voluntary women’s organisations, on Thursday brought out a procession in the capital to observe the "16 Days of Activism against Gender-based Violence.”
Business Multimedia
Food prices stubbornly high despite govt measures
When prices of widely consumed staples like potatoes, edible oil, sugar or onions spike and remain inflated for extended periods, it understandably hits the poor and low-income people where it hurts the most: in their wallet.
Remittance rises 21% in October
Migrant Bangladeshis sent home $2.39 billion in October
Potato price shoots up
The price of potatoes has begun an upward climb in the market
92 thousand crores or more siphoned out in 15 years?
Based on the compilation of media reports on bank scams between 2008 and 2023, CPD said as much as 92 thousand crores of taka have been siphoned out of the banking sector in the last fifteen years
Is Bangladesh going towards a deep economic crisis?
How can Bangladesh avoid the economic crisis to deepen further?
Exim Bank opens 152nd branch at Mirpur DOHS
Exim Bank recently opened a new branch at Mirpur DOHS in the capital..This is the 152nd branch of the bank, said a press release..Md Nazrul Islam Swapan, chairman of the bank, inaugurated it as the chief guest..In his speech, Swapan said Exim Bank has now taken an initiative to
DBL Lifestyles teams up with HSBC for seamless digital payments
The Hongkong and Shanghai Banking Corporation Limited (HSBC) Bangladesh recently signed an agreement with DBL Lifestyles Ltd, the flagship retail brand of DBL Group, to enhance the latter’s digital payment services..Stuart Rogers, regional head of commercial banking, international markets
Remittance rises 14% in November
However, November’s inflow of $2.2 billion was 8.16% lower than the previous month
Businesses will now get up to three years for payment: BB
Earlier, industries could import capital machinery under a 360-day usance term
Islami Bank to issue fifth Mudaraba bond worth Tk 500 crore
The bond will strengthen the bank’s capital base
US 'Black Friday' online spending put at record $10.8 bn
The biggest sales during the annual day-after-Thanksgiving promotions were for toys, jewelry, household appliances, skin- and hair-care products, clothes and electronic devices
Elon Musk asks US court to block OpenAi's for-profit conversion
Attorneys representing the billionaire and his AI startup, xAI, filed the injunction Friday, the financial news site reported.
Trump warns BRICS nations against replacing US dollar
"There is no chance that the BRICS will replace the US Dollar in International Trade, and any Country that tries should wave goodbye to America"