Economy
Cotton farming not catching on for lack of govt support: experts
The expansion of cotton farming in Bangladesh has remained stagnant over the years due to a lack of sufficient farmland, manpower and government support, particularly in terms of innovation and investment.
Heatwave leaves day labourers in the lurch
Despite their willingness to brave the unprecedented temperatures, many day-labourers are still not finding jobs as most employers have put their projects on hold since they are not getting the optimal output from day labourers.
Container handling rises in Ctg port
According to data provided by the Chittagong Port Authority (CPA), the port handled 23.38 lakh TEUs (twenty-foot equivalent units) of containers, including those laden with imports and exports and empty ones, from July last year to March this year.
Govt formulates maiden logistics policy
The policy aims to ensure a reduction in delays and costs by achieving efficiency in overall logistics services, including production, storage, transportation, shipping and release, and distribution of products, within competitive cut-off times based on regional and international standards.
Reforms can generate Tk 15 lakh crore additionally by 2035
In the study, the Policy Research Institute of Bangladesh (PRI) found that by 2035, the government would be able to raise 6.8 lakh crore at the current pace of collections. If reforms are carried out, it will go up to Tk 21.1 lakh crore.
Exports may shrink up to 14% after LDC graduation
With over 70 percent of the country’s merchandise exports currently benefitting from LDC-specific trade preferences, the impact of Bangladesh’s impending LDC graduation on its export sector, particularly the dominant garments industry, is a significant concern.
Summit Power's profits climb 49%
Summit Power Ltd (SPL) recorded a profit of Tk 441.64 crore in the July-March period of the ongoing financial year (FY) 2023-24, up a substantial 49 percent year-on-year despite witnessing a decline in revenue.
HC scraps its order to probe loan scams in three banks
The High Court yesterday scrapped its suomoto (voluntary) rule that directed the authorities concerned to probe the alleged loan scams in Islami Bank, Social Islami Bank and First Security Islami Bank.
Marico’s sales growth hits 7-year low
Sales grew for Indian consumer goods company Marico Bangladesh in the 12 months of fiscal year (FY) 2023-24, which ended on March 31 this year as per their books.
More exchange rate flexibility needed
Bangladesh’s macroeconomic performance has significantly improved since the country entered the IMF’s $4.7 billion loan programme in January last year, but the bleeding of foreign currency reserves continues, putting the taka under pressure, the global lender said yesterday.
Beximco Pharma’s Q3 profits soar 51%
Beximco Pharmaceuticals’ profits in the January-March period of fiscal year (FY) 2023-24 grew by 51 percent from that in the same period of the previous fiscal year, owing to higher sales and efficient cost management.
Stressed loans in banks to remain elevated: Moody’s
The stressed loans in the banking sector of Bangladesh will remain elevated even after the central bank tightened the rules for classification of non-performing loans (NPLs), said Moody’s Investors Service.
Capital gain tax on stock trading unlikely: BSEC chairman
Prof Shibli Rubayat-Ul Islam says in a meeting with capital market journalists
Tax revenue’s 43% spent on govt salaries
Public employees’ pay rises 406% in 12 years, a PRI study finds
ERF-Pran Media Award on agro-processing launched
Seven journalists will be awarded in print, online and television categories
Shams Zaman, PwC Bangladesh’s new country managing partner
He has over 28 years of professional experience
Beximco’s Tk 1,500 crore zero coupon bond’s subscription begins
The subscription of the Beximco 1st Unsecured Zero-Coupon Bond worth Tk 1,500 crore started on April 28 and the first tranche of the subscription will be closed on May 15 this year, Beximco said in a statement.
$289 million deal signed with Islamic Development Bank
The second phase of the project will be of five years
