Bangladesh’s macroeconomic performance has significantly improved since the country entered the IMF’s $4.7 billion loan programme in January last year, but the bleeding of foreign currency reserves continues, putting the taka under pressure, the global lender said yesterday.

The High Court yesterday scrapped its suomoto (voluntary) rule that directed the authorities concerned to probe the alleged loan scams in Islami Bank, Social Islami Bank and First Security Islami Bank.

Sales grew for Indian consumer goods company Marico Bangladesh in the 12 months of fiscal year (FY) 2023-24, which ended on March 31 this year as per their books.

Beximco Pharmaceuticals’ profits in the January-March period of fiscal year (FY) 2023-24 grew by 51 percent from that in the same period of the previous fiscal year, owing to higher sales and efficient cost management.

The stressed loans in the banking sector of Bangladesh will remain elevated even after the central bank tightened the rules for classification of non-performing loans (NPLs), said Moody’s Investors Service.

Prof Shibli Rubayat-Ul Islam says in a meeting with capital market journalists

Public employees’ pay rises 406% in 12 years, a PRI study finds

Seven journalists will be awarded in print, online and television categories

He has over 28 years of professional experience

The subscription of the Beximco 1st Unsecured Zero-Coupon Bond worth Tk 1,500 crore started on April 28 and the first tranche of the subscription will be closed on May 15 this year, Beximco said in a statement.

The second phase of the project will be of five years

Marico Bangladesh Ltd reported a profit of Tk 462.37 crore for the year that ended on March 31, an increase of 19 percent year-on-year

Square Pharmaceuticals Ltd recorded Tk 1,465 crore profit in the July-March period of the ongoing financial year, up around 9 percent year-on-year

The Asian Development Bank (ADB) has signed a $121.55 million financing package with Dynamic Sun Energy (DSE) Private Ltd to build and operate a 100-megawatt (MW) grid-connected solar photovoltaic power plant in Pabna, a northwest district in Bangladesh

Bangladesh should allow greater flexibility in its exchange rate to address issues in its external account, particularly the deficit in the financial account, said the International Monetary Fund (IMF) today

Citing an ongoing discourse over whether governance or development should be given priority, Edimon Ginting, Bangladesh country director of the ADB, said he believes it is the latter that should come first.

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 plans to abolish the tax benefits for various sectors to accelerate revenue collections in line with targets set by the IMF as part of its $4.7 billion loan.

The IMF mission met with the deputy governors, policy advisor, executive directors and directors in different meetings at the central bank headquarters.

Cox's Bazar is the main hub of salt production in the country and officials estimate 38,000 metric tonnes of salt are being produced each day.