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14/07/2023

Country's gross foreign exchange reserves dropped by $6.44 billion to $23.56 billion in the Bangladesh Bank's new reserve calculation, published on Thursday, as per the formula suggested by the International Monetary Fund.

Read more: https://www.tbsnews.net/economy/banking/bb-implements-imf-guidelines-reveals-644b-drop-forex-reserves-664718

11/07/2023

US Dollar to serve as the reference rate for taka-rupee exchange rate

Read more: https://www.tbsnews.net/bangladesh/bangladesh-diversifies-trade-currency-transactions-begin-rupee-663326

11/07/2023

The rainy season is the time for a hydropower plant to run at full capacity as water fills up its reservoir to generate electricity, and the capacity utilisation can be as high as 95%

Read more: https://www.tbsnews.net/bangladesh/energy/why-lone-hydel-plant-kaptai-ran-out-juice-663302

10/07/2023

Revenue incomes are set to fall nearly Tk45,000 crore below the target of the just-ended fiscal year, preliminary data shows, forcing the government to almost double its borrowing from the banking system to finance the deficit

Read more: https://www.tbsnews.net/economy/banking/revenue-collection-slides-bank-borrowing-skyrockets-662730

10/07/2023

The sub-branch concept has emerged as a superior alternative to previously introduced banking services like mobile banking, agent banking, or bank booths, which, while facilitating rural financial transactions, could not replace the comprehensive services offered by traditional bank branches

Read more: https://www.tbsnews.net/economy/banking/when-banks-go-microborrowers-it-win-win-deal-662738

07/07/2023

Bourses and stock investors, over the last two weeks, have seemed too puzzled to conclude when a listed company should be punished as a so-called "Z" category stock and when it should not be.

Read more: https://www.tbsnews.net/economy/stocks/z-chaos-stock-market-661254

06/07/2023

The private sector credit growth fell for the sixth consecutive month, reaching 11.1% in May, which witnessed the lowest growth in the last 15 months due to a declining trend in opening letters of credit (LCs) for imports, and the banks' conservative attitude toward loan disbursement.

Read more: https://www.tbsnews.net/economy/banking/private-sector-loan-growth-dips-6th-consecutive-month-660730

05/07/2023

Beximco Limited is now able to convert its Sukuk bond into shares without prior approval from the Bangladesh Securities and Exchange Commission (BSEC)

Read more: https://www.tbsnews.net/economy/stocks/beximco-can-now-convert-sukuk-shares-without-prior-approval-660158

27/06/2023

A Bangladeshi expatriate was shot dead by miscreants in Botshabelo of Free State Province in South Africa.

Photo: Prothom Alo

Read more- https://www.tbsnews.net/bangladesh/expatriate-bangladeshi-trader-shot-dead-south-africa-657274

27/06/2023

A proposal was sent to the Indian authorities to withdraw these projects from the LoC list

Read more: https://www.tbsnews.net/economy/4-more-projects-be-dropped-indian-loc-656966

26/06/2023

The Bangladesh Foreign Exchange Dealers' Association (Bafeda) raised the dollar rate for exporters by Tk0.5 to Tk107.50

Read more: https://www.tbsnews.net/economy/banking/dollar-rate-exporters-raised-tk050-656614

25/06/2023

Automated toll collection on the Padma Bridge is ready for launch after Eid-ul-Adha.

Read more: https://www.tbsnews.net/bangladesh/padma-bridge-automated-toll-collection-ready-launch-after-eid-655890

25/06/2023

The government's food assistance for the poor and low-income people has declined amid the current economic crisis, soaring inflation, and the rising cost of living.

Read more- https://www.tbsnews.net/bangladesh/food-assistance-poor-down-inflation-living-cost-655726

25/06/2023

The government has fixed the price of salted leather of sacrificial cows at Tk50 to Tk55 per square feet in Dhaka and Tk45 to Tk48 per sqft outside Dhaka for this year.

Read more- https://www.tbsnews.net/bangladesh/sacrificial-animals-leather-price-increased-tk3-5-year-655770

23/06/2023

It started as a hobby among the young generations of prominent business groups in Chattogram sometime around 2015. At that time, animal husbandry for milk and meat was not considered a big business model.

Read more: https://www.tbsnews.net/bangladesh/corporates-cowboys-new-cattle-businessmen-ctg-654926

23/06/2023

Citizens who will join the Universal Pension Scheme will receive an 8% annual interest on their contributions, while non-resident Bangladeshis will get an additional 2.5% incentive if they contribute in foreign currencies, according to the rules finalised by the finance ministry.

Read more: https://www.tbsnews.net/bangladesh/universal-pension-offer-8-interest-lucrative-incentives-expats-boost-remittance-654702

22/06/2023

Seamless garments are paving the way to diversify the export portfolio in the apparel industry of Bangladesh as Urmi Group is contributing to the country's efforts to expand its global market share by using the technology.

Read more- https://www.tbsnews.net/economy/rmg/seamless-garments-how-urmi-group-leading-bangladeshs-apparel-export-diversity-654374

19/06/2023

The Bangladesh Bank has declared a reference lending rate of 7.13% for July, projecting an increase in interest rates for all types of bank loans.

Read more: https://www.tbsnews.net/economy/banking/cenbank-declares-713-reference-rate-fix-lending-rate-652666

18/06/2023

The Bangladesh Bank's new monetary policy foresees challenges in achieving a 7.5% GDP growth target.

Read more: https://www.tbsnews.net/economy/banking/achieving-75-gdp-growth-fy24-may-become-challenging-bb-652010

18/06/2023

Despite the completion of the feasibility study and the securing of funds from financiers, the project to construct the country's largest inland container depot is now facing a dilemma over its location.

16/06/2023

As the BRICS looks to expand and Bangladesh hopes to join it in August, analysts have started weighing the gains from being part of the bloc that aims to create a new global order to counter the dominance of US and its currency dollar.

Read more: https://www.tbsnews.net/economy/bangladesh-joining-brics-what-now-650650

14/06/2023

Hundreds of applicants had to suffer great lengths at the Divisional Passport and Visa Office in Agargaon, Dhaka, area due to technical difficulties causing disruptions in its central server since Tuesday (13 June).

Read more: https://www.tbsnews.net/bangladesh/public-suffering-agargaon-passport-office-server-goes-down-649658

10/06/2023

Shahjalal Islami Bank Limited finds itself in a quagmire after taking over a loan of the contracting company Dhaly Construction Ltd from another bank and granting new loans worth hundreds of crores of taka to the same company violating banking regulations.

Read more: https://www.tbsnews.net/economy/banking/cenbank-questions-tk408cr-shady-loan-deals-shahjalal-bank-647110

08/06/2023

BSRM has a daily rod production capacity of 5,500 tonnes in two factories, but due to power shortage, the production has come down by 25-30%

Read more: https://www.tbsnews.net/bangladesh/factory-owners-stare-losses-power-cuts-bring-down-production-645966

08/06/2023

As scorching summer heat continues to rage across the country with mercury rising to 38 degrees or more, load-shedding is also making new records every day.

Read more: https://www.tbsnews.net/bangladesh/energy/load-shedding-rewrites-record-every-day-645790

08/06/2023

If the local currency loses its value against the dollar by one taka more, the government's subsidy spending for electricity alone will go up by Tk473.6 crore in the upcoming financial year. A 10% depreciation will mean an increase of Tk3,800 crore in government loans and guarantees in the fiscal 2023-24, the finance ministry projects.

Read more: https://www.tbsnews.net/economy/weak-taka-number-one-risk-macro-stability-finance-645810

07/06/2023

The country's private sector has to pay off instalments of long-term foreign loans amounting to $1.62 billion in 2023 amid the ongoing dollar crisis.

Read more: https://www.tbsnews.net/bangladesh/162b-private-sector-foreign-loan-instalments-due-2023-645494

07/06/2023

The government's projection that the budget deficit will remain broadly stable in the next fiscal year, FY24, could be vulnerable if growth undershoots the authorities' relatively optimistic target, Fitch Ratings says in a new report.
Read more: https://www.tbsnews.net/economy/bangladesh-budget-reinforces-broadly-steady-fiscal-prospects-fitch-ratings-645266

07/06/2023

The country's garment exports amounted to $12.25 billion in the first quarter of this year, while the raw material imports for that sector during the same period were $3.54 billion, according to Bangladesh Bank data.

Read more: https://www.tbsnews.net/economy/rmg-export-income-rises-raw-material-imports-fall-q1-645218

07/06/2023

The draft Income Tax Law 2023 appears to be stricter in certain aspects, while it has taken steps to amend archaic tax laws, making them more user-friendly for individuals and businesses alike.

Read more: https://www.tbsnews.net/nbr/new-income-tax-law-be-hard-evaders-simplifies-rules-businesses-645202

06/06/2023

The Bangladesh Bank (BB) has instructed banks concerned to speed up payments owed to airlines, said Bangladesh Bank Acting Spokesperson Md Abul Bashar.

Read more: https://www.tbsnews.net/economy/banking/bb-instructs-banks-speed-payments-owed-airlines-645042

06/06/2023

Indian authorities made fervent appeals to families on Tuesday to help identify over 100 unclaimed bodies kept in hospitals and mortuaries after 275 people were killed in the country's deadliest rail crash in over two decades.

Read more: https://www.tbsnews.net/world/south-asia/over-100-dead-bodies-remain-unclaimed-after-indian-rail-disaster-644802

05/06/2023

Two children have died due to "pesticide poisoning" in the capital's Bashundhara Residential Area.

Read more: https://www.tbsnews.net/bangladesh/crime/two-children-die-pesticide-poisoning-capitals-bashundhara-644426

05/06/2023

Bangladesh witnessed a significant surge in inflation during the month of May, reaching its highest level in over a decade.

Read more: https://www.tbsnews.net/economy/inflation-reaches-994-may-highest-over-decade-bbs-644334

05/06/2023

The Bangladesh Bank reduced the outlay of the Export Development Fund, widely known as EDF, by $400 million in May this year just to increase net foreign exchange reserves following the International Monetary Fund (IMF) conditions.

Read more: https://www.tbsnews.net/economy/banking/export-dev-fund-cut-400m-may-increase-net-reserves-644054

05/06/2023

General investors of the capital market are getting the opportunity to buy Treasury bonds in the primary auction of the central bank through their beneficiary owner (BO) accounts.

Read more: https://www.tbsnews.net/economy/stocks/general-investors-allowed-buy-treasury-bonds-644038

04/06/2023

The BNP has expelled 19 leaders from the Barishal city unit for taking part in the upcoming city corporation election scheduled for 12 June.

Read more: https://www.tbsnews.net/bangladesh/politics/19-bnp-leaders-permanently-expelled-participating-barishal-city-polls-643830

04/06/2023

The country's export earnings witnessed a significant increase in May at $4.85 billion, which is 26% higher compared to $3.83 billion received during the same period last year.

Read more: https://www.tbsnews.net/economy/export-earnings-see-1b-jump-may-643810

03/06/2023

The persistently high inflation is a cause of concern for the government, but it has not yet gone out of control, Finance Minister AHM Mustafa Kamal said on Friday.

Read more: https://www.tbsnews.net/economy/budget/budget-fy24-awarded-all-rich-and-poor-kamal-642830

02/06/2023

The New Development Bank (NDB) is eager to finance Expanded Dhaka City Water Supply Resilient Project and Replacement of Gas Pipeline between Dhaka and Narayanganj Project.

Read more: https://www.tbsnews.net/bangladesh/ndb-finance-water-supply-and-gas-pipeline-construction-projects-bangladesh-642678

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