Scaling up startups in Bangladesh

It was possibly 2008 when my seniors at Citigroup India realised it was becoming hard for global companies to attract IIM (Indian Institute of Management) or IIT (Indian Institute of Technology) graduates as they were building their own startups.
22 June 2024, 18:00 PM

NBR sets new rules for firms seeking customs privilege

The National Board of Revenue (NBR) has revised rules, including raising the capital requirements, for businesses to be listed as authorised economic operators (AEO), a status an increasing number of firms are expressing interest in.
22 June 2024, 18:00 PM

WB, IMF loans to help Bangladesh rebuild reserves

On the back of the credits from the World Bank and the International Monetary Fund, Bangladesh may meet for the first time the condition on net foreign exchange reserves attached to the $4.7 billion loan from the IMF and secure the next instalment.
22 June 2024, 18:00 PM

Refrigerator sales decline despite Eid

Sales of refrigerators and chest freezers declined by 13 percent ahead of Eid-ul-Azha as consumers contended with persistent inflationary pressures as well as an increase in the prices of the home appliances, according to industry players.
22 June 2024, 18:00 PM

Bida identifies 814 vulnerable factories in 2nd phase

The Bangladesh Investment Development Authority (Bida) has identified 814 more factories as risky under a countrywide initiative as the government looks to prevent avoidable fire incidents and other disasters.
21 June 2024, 00:00 AM

Measures in budget will help contain inflation

The proposed budget for fiscal year 2024-25 has enough measures to rein in inflation which has been persistently rising, agricultural economists said at a post-budget seminar yesterday.
20 June 2024, 18:00 PM

Dollar hits Tk 118 on interbank market, the highest ever

Every US dollar went for Tk 118 on the interbank platform of Bangladesh yesterday, the highest since the central bank loosened its grip on the exchange rate by letting market dynamics determine the prices.
20 June 2024, 18:00 PM

Despite Eid-ul-Azha, broiler chicken prices rise in Dhaka

Prices of broiler chicken had decreased after Eid-ul-Azha last year, apparently due to the increased availability of beef and goat meat, but this year the situation is different in Dhaka.
20 June 2024, 18:00 PM

Leather losing its shine in exports

Rising local value addition, poor compliance with international standards, and buyers shifting to other countries have thwarted exports of leather, which was once among Bangladesh’s three main export items.
20 June 2024, 18:00 PM

Linde, Renata surge, sending Dhaka stocks to two-month high

Stocks in Bangladesh climbed 1.6 percent yesterday, driven by a surge in the prices of some blue-chip companies such as Renata PLC and Linde Bangladesh.
20 June 2024, 18:00 PM

Bangladeshi Nationals, Banks: ‘Swiss banks not so lucrative now to park money’

Bangladeshi nationals and banks kept 17.71 million Swiss francs (CHF) in deposits last year in the banks of Switzerland, the lowest on record, reflecting the fading attractiveness of the country among the wealthy to park money.
20 June 2024, 18:00 PM

Black money whitening provision needs to be reviewed: Momen

Taxpayers have been disappointed with the budgetary provision for whitening black money, former foreign minister AK Abdul Momen told parliament today
20 June 2024, 16:36 PM

Can Bangladesh be a semiconductor hub?

The semiconductor manufacturing sector is well-known for its complexity, high stakes and intense corporate competition. Demand has always been driven by innovation, with every new technology changing the game.
16 June 2024, 01:35 AM

State enterprises’ loan rising, so is govt guarantee

The government needs to provide guarantees against an increasing amount of loans of state-owned enterprises every fiscal year, especially for power generation, fertiliser and fuel imports, and aircraft purchases.
16 June 2024, 00:25 AM

‘High inflation to impact this year’s rawhide collection’

Inflation staying persistently high at over 9 percent for the past two years will lead to a lower number of animals being slaughtered this Eid-ul-Azha, the peak season for collecting rawhides, according to Bangladesh Tanners Association (BTA). 
16 June 2024, 00:00 AM

GDP output may rise 40% if women’s participation in economy widens

Bangladesh can increase its economic output by nearly 40 percent by closing the gender gap and increasing women’s participation in the economy, according to the International Monetary Fund (IMF).
15 June 2024, 18:00 PM

Eight state firms had Tk 183cr default loans until Feb

Eight state-owned enterprises (SOEs) of Bangladesh had a combined default loan of Tk 183.62 crore in February, official figures showed.
15 June 2024, 18:00 PM

Major brands join forces to decarbonise Bangladesh’s fashion industry

Some of the world’s biggest fashion brands such as like Gap Inc, H&M Group, Mango, and Bestseller have joined forces to participate in an initiative to decarbonise the fashion sector in Bangladesh.
15 June 2024, 18:00 PM

3rd tranche of loan: IMF board to meet on June 24

The International Monetary Fund will discuss releasing $1.15 billion in the third instalment of its loan to Bangladesh during its board meeting on June 24. This is part of the IMF’s $4.7 billion loan programme for the country.
14 June 2024, 18:00 PM

High bank borrowing by govt to crowd out private sector

The government plans to borrow Tk 137,500 crore from the banking sector in the fiscal 2024-25 to finance the budget deficit. If the Bangladesh Bank does not provide any fund, the entire amount will need to come from the commercial banks.
12 June 2024, 18:00 PM