Ahsan Habib

The profit amounted to Tk 999 crore, soaring 70 percent year-on-year. It was Tk 587 crore in 2022.

Analysts say the regulator’s intervention is denting investors’ confidence and it comes at a time when they are still smarting from the wounds caused by the 18-month-long floor price, a period when most of the stocks were untradeable.

The government spent Tk 246,583 crore in July-January of 2023-24 out of the total budget of Tk 761,785 crore for the entire fiscal year, figures from the finance ministry showed. The outlay under interest payments and subsidies was Tk 88,226 crore, which was 36 percent of the allocation.

Since the floor price removal, the stocks have been bleeding owing to massive sell-offs by local and foreign investors as the economic uncertainty persists

In the last decade, the debt-to-GDP ratio rose by 13 percentage points. The IMF forecasts that the ratio will reach 43.5 percent in 2028-29.

A top official of the ministry said the government would increase the number of beneficiaries in two major schemes – the old age allowance and the allowance for widows, deserted, or destitute women.

The British multinational bank logged profits of Tk 2,335 crore in 2023, up from Tk 1,655 crore in 2022, according to its financial reports.

The merger guideline for banks and financial institutions is being hailed as a major step towards fixing the problem in the financial sector, which has been weighed down by massive default loans and weak corporate governance.

Last year, MNCs paid Tk 5,060 crore as dividends, representing 72 percent of the total earnings while in 2022, they gave out Tk 6,346 crore in dividends, which accounted for 95 percent of the profits.

Bangladesh’s stock market has been going through a bear run for the last two months despite petering out of election-linked uncertainty, signaling that the worries about the macroeconomic challenges are far from over.

Bangladesh is already one of the top 10 markets for Bata Shoe but its Chief Executive Officer Sandeep Kataria thinks the country offers further growth opportunities for the multinational company.

Initially, it is the general stock investors who might be at the receiving end of the process while the loan defaulters, whose misdeeds are largely responsible for Padma Bank’s current misfortunes, might come out victorious.

Since the interest rates may rise further, the companies are taking steps to quickly pay back loans using funds from alternative sources, according to business leaders.

The profitability of the banking sector in Bangladesh is the lowest in South Asia due to the prevalence of higher non-performing loans, lower efficiency, and an elevated level of costs of funds.

Experts and industry people blame higher inflationary pressure confronting a larger section of the population, especially low-income households, since May 2022, for the slower growth since their purchasing power has eroded significantly.

Bangladesh is turning into a manufacturing hub for consumer electronics thanks to its affordable wage structure, expertise in information technology and light engineering industries, according to Singer Bangladesh.

Some think that the existing supply order (SO) system is one of the reasons for the spike in the prices of essential goods such as sugar and edible oil simply because prices increase each time the document changes hands.

The narrow streets of Old Dhaka’s Moulvibazar hum with activity: commodity trading. On mobile phones, wholesalers fervently follow prices on trading floors in Chicago and London to bet on the local prices of sugar and edible oil. In and around tea stalls in this gloomy corner of Dhaka, even idle chats are centred around the price movement on the London Commodity Exchange, the Chicago Board of Trade, and the Bursa Malaysia.

The Bailey Road fire, which killed at least 46 people on the last night of February, once again points to the massive flaws in the safety system of businesses in the sprawling Dhaka city and highlights the urgency to ramp up monitoring and interventions to avoid preventable deaths.

The claim settlement rate in the insurance sector of Bangladesh has risen by more than four percentage points within the span of a single year although the ratio has remained far below the global average.