The Bangladesh Bank yesterday further relaxed its loan write-off policy as part of its roadmap to “artificially” reduce the higher volume of bad loans in the banking sector.

The Centre for Policy Dialogue (CPD) yesterday proposed increasing the tax on high-income individuals to 30 percent in fiscal year (FY) 2024-25 as the move would likely reduce income inequality in Bangladesh.

The telecom regulator of Bangladesh recently permitted two more local companies to manufacture and assemble mobile handsets, with the move coming amid a downturn in overall sales and production.

Dhaka Stock Exchange witnessed a 13.96 percent decrease in turnover yesterday from that on the previous day of trade last week.

A roadmap on economic policy changes is vital for the private sector since it can help them predict the future, plan accordingly and avoid shocks that may stem from a sudden shift in government strategies, said economists and entrepreneurs yesterday.

Bangladesh’s gross domestic product grew 5.78 percent in the last financial year, one of the slowest paces of expansion in 13 years, as consumption nosedived, according to the final figures published by the Bangladesh Bureau of Statistics (BBS).

High tariffs on the import of raw materials are a major barrier to the diversification of Bangladesh’s export basket, a noted economist said yesterday.

Listed companies should be categorised based on the quality of their governance instead of their dividends as governance has a long-term impact for investors, said Ahsanur Rahman, CEO of BRAC EPL Stock Brokerage.

Bangladesh Bank has announced a new plan to reduce non-performing loans (NPL) to less than 8 percent by June 2026. The central bank aims to bring down the NPL of state-owned commercial banks to 10 percent and private banks below 5 percent. As we know, many such initiatives have been introduced earlier and they failed to show desired results.

Although the roadmap drawn up to reform the banking industry of Bangladesh may seem attractive on the surface, there are questions regarding its efficacy in ensuring good governance in the scam-hit sector.

Bond licence rules need to be eased for the expansion of businesses as 4,187 bond licences became inactivate over the past 14 years and only 1,558 new ones were issued, according to a new study made public yesterday.

Rancon Motors, the sole distributor of Mercedes-Benz in Bangladesh, has teamed up with Genex Infrastructure to set up electric vehicle (EV) charging stations around the country to provide charging facilities in the future.

Aamra Networks is going to raise Tk 92 crore by issuing rights shares to upgrade the network and repay loans.

There is a lack of trust in the financial sector of Bangladesh, which is adversely impacting the country’s overall economy, according to economists at discussion.

The Bangladesh Bank has introduced currency swaps with banks for the first time, a move that will enable the country to meet the net reserve condition set by the International Monetary Fund (IMF) with its $4.7 billion loan programme.

Exports of locally made lungis, a widely used everyday garb for southeast Asian men, have been rising rapidly because of the increasing Bangladeshi diaspora worldwide while the local market has also been on an upward curve due to Bangladesh’s growing population, industry insiders said.

Biman Bangladesh Airlines started selling tickets for flights on the Dhaka-Rome-Dhaka route yesterday as the national flag carrier is set to resume operations to connect the country with the European city from March 26.

Turkish beverage company Coca-Cola Icecek (CCI) has signed a deal to acquire Coca-Cola Bangladesh Beverages Ltd (CCBB) for $130 million.

Garment manufacturers have sought a policy from the government on virtual marketplaces, saying they cannot enter into deals with international clothing retailers and traders in absence of dedicated international payment gateways for them.

The Bangladesh Securities and Exchange Commission (BSEC) issued an order yesterday revising the criteria for companies to be considered and listed as junk.