Govt’s bank borrowing in check
The government’s borrowing from the banking system has remained in check so far in the ongoing fiscal year thanks to lower expenditures and higher revenue collection.
24 September 2023, 03:00 AM
Revenue collection up 15% in Jul-Aug
Government revenue collection in the July-August period, the first two months of the current fiscal year of 2023-24, has increased by nearly 15 percent year-on-year, thanks to a rise in VAT from multinational companies.
22 September 2023, 00:00 AM
Inflation to cool in later part of FY24
Although higher consumer prices have persisted in the first few months of the current fiscal year, inflation in Bangladesh is going to cool in the later part of 2023-24 thanks to one external and two domestic factors, the Asian Development Bank (ADB) forecast yesterday.
21 September 2023, 00:00 AM
$250m budget support from WB in Nov
Bangladesh is expecting another $250 million in budget support from the World Bank after the government fulfilled the conditions laid out for the funding.
19 September 2023, 18:00 PM
Universal Pension Scheme: About 13,000 sign up in first month
About 13,000 people enrolled on the universal pension system in the month since Prime Minister Sheikh Hasina flagged it off, with private sector employees making the majority.
17 September 2023, 18:00 PM
Growing debt servicing now puts pressure on forex reserves
The cost of debt servicing has risen significantly amid a higher flow of loans from development partners and an elevated level of interest payments, compounding pressure on the foreign currency reserve of Bangladesh, official figures showed.
17 September 2023, 00:00 AM
Liquidity stress at Islamic banks shows no sign of abating
Liquidity in Shariah-based banks in Bangladesh remains tight due to a dip in deposit collection and the banks’ inability to make the most of the central bank support to overcome the situation, Moody’s Investors Service said in a report.
15 September 2023, 18:00 PM
BBS data lays bare devastating impact of Covid-19
The scale of the immediate but devastating effects of the Covid-19 pandemic on Bangladesh’s economy emerged for the first time after the Bangladesh Bureau of Statistics (BBS) published the quarterly data of the GDP to meet IMF’s conditions.
15 September 2023, 00:00 AM
Tk 4,282cr project for developing Mongla Port
China to fund it; AIIB to finance power supply infrastructure; proposals to be placed before Ecnec today
11 September 2023, 18:00 PM
Food inflation highest in 12 years
Inflation advanced 23 basis points in August to 9.92 percent propelled by food inflation, which hit a 12-year-high -- laying bare the magnitude of the cost of living crisis staring down on the poor and the low-income people.
10 September 2023, 18:00 PM
Medical college to be built on Chandpur wetland
The Ecnec yesterday approved a project to construct a medical college, hospital and nursing college partially on a wetland in Chandpur despite Planning Commission’s observation that the project cost may rise because of the nature of the chosen site.
5 September 2023, 18:00 PM
Govt to buy 340 buses from S Korea
Bangladesh Road Transport Corporation is going to take up a project to import 340 buses and other equipment from South Korea.
4 September 2023, 18:00 PM
Another $1b budget support expected this year
Bangladesh is expecting another $1 billion in budget support towards the end of the year in a financing arrangement led by the Asian Development Bank.
27 August 2023, 18:00 PM
Bribe incidence less here than in India, Pakistan
The incidence of bribe requests in Bangladesh is less than in India and Pakistan, according to a recent report from the Asian Development Bank.
24 August 2023, 18:00 PM
Record LGD spending in July ahead of polls
July’s development spending was the highest in four years on the back of enthusiastic fund utilisation by the local government division -- whose expenditure hit a record high for the first month of a fiscal year.
22 August 2023, 18:00 PM
Rooppur will be ready on time
The much-awaited Rooppur nuclear power plant is coming along at more or less the expected pace but the country has to wait longer to enjoy the benefits as the power evacuation facility from the plant would not be ready on time.
20 August 2023, 18:00 PM
Universal Pension Scheme: 31-40 age group showing most interest
People belonging to the 31-40 age group have so far enroled the most for the newly-launched universal pension scheme.
20 August 2023, 18:00 PM
Universal Pension Scheme: 6,100 sign up within 6 hours of launch
At least 6,100 people signed up for the universal pension scheme as of 5:00pm yesterday, the first day.
17 August 2023, 18:00 PM
Budget Deficit Financing: Govt cuts BB borrowing to tame inflation
The government has started the fiscal year with the resolve to borrow less from the central bank to fund its budget deficit as it looks to rein in the runaway inflation to a tolerable level ahead of the polls.
16 August 2023, 18:00 PM
Govt frames maiden tariff policy
Bangladesh has formulated its maiden tariff policy to improve the competitiveness of local companies in the international market as they brace for an increased competition after the country becomes a developing nation in 2026.
15 August 2023, 00:00 AM