Buoyancy in exports continues
Bangladesh’s exports rose for a fourth straight month in November as goods that had been stuck for the past three months were finally shipped.
No respite for steelmakers as sales depressed since July
The price of mild steel (MS) rods has continued to fall due to low demand for construction materials, especially as public consumption has declined to virtually zero since the political changeover on August 5.
Reliance on captive power weakens PDB
Captive power, which the industrial sector in Bangladesh leans on heavily, has been weakening the financial health of the Bangladesh Power Development Board (PDB) by costing it customers that pay the highest tariffs.
IMF asks to raise tax-GDP ratio by 0.6 percentage points
The International Monetary Fund (IMF) has asked to increase the tax to GDP ratio by 0.6 percentage points by the end of this fiscal year to make up for last fiscal year’s revenue collection shortfall.
BTRC cancels licences of 334 ISPs, others
The Bangladesh Telecommunication Regulatory Commission (BTRC) has revoked the licences of 334 internet service providers (ISPs), business process outsourcing (BPO), telecommunication value added services (TVAS) and vehicle tracking services (VTS) mainly for failing to comply with regulatory rules for licence renewal.
Digital divide hinders disability inclusion in tech workforce: experts
A lack of specially tailored skill training programmes that match the market demand and poor access to digital devices are the main barriers deterring persons with disabilities from entering ICT sector jobs, according to experts.
China curbs exports of key chipmaking components to US
Beijing said Tuesday it would restrict exports to the United States of some key components in making semiconductors, after Washington announced curbs targeting China’s ability to make advanced chips.
Diesel supply disrupted in eight northern districts
Diesel supply in eight districts of Rangpur has been hampered due to the refusal of loco masters to work overtime and non-arrival of a scheduled consignment through the India-Bangladesh Friendship Pipeline from across the border.
Govt aims to bring down inflation to 4-5%
The government plans to bring down inflation to 4-5 percent, Bangladesh Bank (BB) Governor Ahsan H Mansur said yesterday.
Economy
Jetties empty at Ctg port as import falls
Many of the Chattogram port’s 12 container jetties have been lying vacant for the last couple of weeks due to a fall in the number of ships amid a decrease in imports..The port currently has 18 jetties. Of these, 12 jetties are dedicated for accommodating container vessels and the remainin
1.5 lakh tonnes of rice will be imported from Myanmar, India
The government is set to import rice from Myanmar and India as part of its efforts to bring down the high price of the staple, replenish stocks and ensure distribution under social safety net schemes.
Developing countries face record foreign debt costs: WB
The world’s developing countries paid a record $1.4 trillion to service their debts last year, as high lending rates pushed interest costs to a two-decade high, the World Bank said Tuesday.
National Single Window to be launched in March
He also said a masterplan to fully automate services at the NBR was being drafted.
BSEC summons Confidence Cement for dividend payment failure
The cement maker has to appear before the stockmarket regular on Dec 8
Banks asked to provide loan info of Thermax Group
The Bangladesh Bank has asked lenders in the country to provide detailed information on all the loans and liabilities of companies operated by Thermax Group..The banks have been asked to provide the information by Wednesday. There are more than a dozen companies under the group that produc
Govt aims to bring down inflation to 4-5%: BB governor
The aim is to bring inflation down to 7% by next June, says Ahsan H Mansur
Dutch-Bangla Bank’s services to remain suspended temporarily
Core banking will be unavailable from Jan 1-5 next year and agent banking from Dec 30 to Jan 5
Global Economy
Bangladesh's new LNG purchase policy draws Shell, BP, Glencore and Aramco
Bangladesh made its first LNG import in 2018, bought 5.2 million metric tons in 2023, up 19 percent from the previous year
China curbs exports of key chipmaking components to US
Among the materials banned from export are metals gallium, antimony and germanium, Beijing's commerce ministry said in a statement that cited "national security" concerns
Developing countries face record foreign debt costs: World Bank
The high cost of servicing foreign debt has pushed many developing countries to borrow more money from multilateral institutions like the World Bank, stretching their finances
S.Korea says to provide liquidity to stabilise markets after turmoil
Equities sank more than two percent in Seoul and the won initially plunged to a two-year low against the dollar after the dramatic move, which stunned traders already concerned about the state of Asia's number-three economy.
Bangladesh's Electricity Sector / PDB can save $1.2 billion a year by fixing core problems: IEEFA
The global energy think-tank suggested shifting half of Bangladesh’s existing industrial demand to the grid
Rupee drops to all-time low
The Indian rupee declined to a lifetime low on Tuesday, pressured by the US dollar’s rally against its major peers and on concerns over the Asian country’s slowing growth rate.
$6 billion foreign loan commitments may come by June: finance adviser
The commitments will come from multiple sources, including World Bank, IMF, ADB, Opec
Organisation News
UK's Better Health in Bangladesh achieves milestone in public health
The British High Commission Dhaka and UNFPA Bangladesh, along with key implementing partners, celebrated the successful completion of the £65 million Better Health in Bangladesh (BHB) programme at an event held at Pan Pacific Sonargaon Hotel recently
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
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?
Mercantile Bank organises anti-money laundering conference
Mercantile Bank PLC recently organised the “Anti Money Laundering Conference-2024” at FARS Hotel and Resorts in the capital’s Purana Paltan..Anti-money laundering compliance officers from 152 branches, heads of different branches, senior management teams and divisional heads from the head
Prime Bank partners with Footstep for clean water, solar energy
Prime Bank PLC recently signed a partnership agreement with Footstep Bangladesh, a non-governmental organisation in Dhaka, to install water filtration systems and solar panels..Under this agreement, the bank will install water filtration systems in eight public schools in Chattogram and so
Bank Asia signs deal with ShareTrip on booking discounts
Bank Asia PLC recently signed an agreement with ShareTrip Limited, one of the leading online travel agencies of Bangladesh..Zishan Ahammad, head of cards, alternative delivery channels and internet banking of the bank, and Arup Ratan Barua, chief finance officer of the online travel agency
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
Chinese firm Bangladesh BaoRui Textile to invest $19.53 million in Mongla EPZ
The composite textile manufacturing facility is expected to generate 1,505 jobs
Dhaka Bank to issue Tk 400 crore bond
Proceeds from the issuance aim to bolster the bank's Tier-2 capital, in line with regulatory requirements, according to the disclosure
Debapriya's white paper points to grand corruption
Says, turned Bangladesh from crony capitalism to kleptocracy
Trillions embezzled from stock market
White paper panel says turned Bangladesh from crony capitalism to kleptocracy
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.