Monthly wage growth for workers in Bangladesh has remained below the inflation rate for 15 months consecutively, suggesting that many people are having to reduce consumption to cope with increased financial stress.

Foreign direct investment (FDI) in the country increased 20 per cent year-on-year to $3.48 billion in 2022 for a surge in reinvestment of earnings by foreign companies. 

The government plans to increase its development spending slightly in the upcoming fiscal year due to the narrow fiscal space, the dollar crisis, the conditions attached to the IMF’s loan programme, and higher expenses on subsidies and interest payments. 

Dominage Steel Building Systems Limited’s profit declined more than 88 per cent year-on-year to Tk 20.52 lakh in the third quarter of the current financial year.

One-fourth of the 61 banks in Bangladesh accounted for 72 per cent of the total Tk 1,129 crore spending on Corporate Social Responsibilities (CSR) in 2022, according to a Bangladesh Bank report released last week.

bKash recently added new features named “Auto Pay”, “Balance Hide Option” and “View Charges in Statement” to its app.

Citibank endeavours continuously on digitalisation, innovation and replication of global best practices in the local banking industry, said Md Moinul Huq, Citi country officer, Bangladesh.

Profits of Dutch-Bangla Bank grew 1.79 per cent in 2022 while its income from interest, commissions and charges increased at a higher rate. 

Energy prices increased 5.7 per cent globally in April, led by a 7.8 per cent hike in crude oil prices and a 3.8 per cent spike in coal prices, the World Bank’s Pink sheet reported.

Shasha Denims Limited suffered a 94.5 per cent year-on-year decline in profit to Tk 42.31 lakh in the third quarter of the ongoing financial year.    

Al-Arafah Islami Bank Ltd made a Tk 207.66 crore profit in the financial year that ended on December 31.

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Monthly wage growth for workers in Bangladesh has remained below the inflation rate for 15 months consecutively, suggesting that many people are having to reduce consumption to cope with increased financial stress.

South Asia is bracing for yet another hot year. Pre-monsoon temperature records were shattered again in 2023 by the hottest February recorded in India since 1901, along with the hottest day in Dhaka, Bangladesh in 58 years in April.

Mobile subscriber numbers witnessed a solid growth in March, thanks to a strong performance by all but state-owned operator Teletalk. 

Bangladesh retained second position in apparel shipments to the European Union (EU) in the first two months of the current year with a 22.75 per cent share of the trade bloc’s overall garment imports, according to data from EUROSTAT.

Uttara Finance Ltd is yet to take any major steps against the officials allegedly involved in the Tk 5,100 crore scam unearthed by the Bangladesh Bank although four months have passed since the central bank directed it to bring the culprits to the book.

Inflation in Bangladesh fell slightly to 9.24 per cent in April, driven by a decline in food prices, although it still remains at an elevated level compared to historic trends, official figures showed yesterday.

Union Bank Limited made a Tk 162.69 crore profit in 2022, slightly up from a year earlier.

A new record was set yesterday over the number of tenders opened in a day in the electronic government procurement (e-GP) system.