Finance News: Latest Financial News, Finance News today in Bangladesh

Japanese JERA takes over from Indian Reliance

Japanese energy-biggie JERA has acquired the Meghnaghat 718-megawatt (MW) power plant from Indian Reliance and it awaits a nod to initiate electricity generation commercially, according to sources.The Japan's Energy for a New Era (JERA) carried out a test run of its power plant in late October but did not get...

RMG exports log 12.34pc growth in first five months of FY ’25

Export earnings from the country's readymade garment (RMG) sector recorded a growth of 12.34 per cent year on year to fetch US$16.11 billion during the first five months of the current fiscal year, pushing the overall growth to 11.76 percent.RMG that contributed more than 80 per cent of Bangladesh's overall...

IMF revises tax-GDP ratio upward

The International Monetary Fund (IMF) has set a revised target for Bangladesh to increase its tax-GDP ratio by 0.6-percentage points for the current fiscal year. This increase equates to an additional Tk 930 billion in revenue.Currently, Bangladesh's tax-GDP ratio stands at 7.9 percent, one of the lowest in the region....

Bangladesh already in middle-income trap

The white paper on Bangladesh's economy says the country has already fallen into the middle-income trap as employment and productivity data conflict with the past years' higher-growth narratives.Bangladesh started falling into the trap in the fiscal year 2013-14 and is now already trapped, according to Dr Zahid Hussain, a member...

Refiners keep pushing for edible oil price hike

Local refiners in recent months have pressed the government several times to increase edible-oil prices in the light of the substantial price rise in the international market, industry insiders say.The Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association (BVORVMA) urged the commerce ministry in June and November this year, and...

Work on Tk 50b project starts

The World Trade Centre (WTC) will make its dashing footprint in Dhaka with the silhouette of an under-construction 50-storey skyscraper near the scenic Hatirjheel Lake in the metropolis.The primary infrastructure development work on the TK 50-billion project has already started, said Shakawath Hossain, chief executive officer (CEO) of Unique Hotel...

Indian FS due next week

Foreign Affairs Adviser Md Touhid Hossain on Wednesday said Bangladesh wants good relations with India on a reciprocal basis, hinting that Foreign Office Consultations (FOC) between the two countries might take place a day ahead instead of December 10, reports UNB. "It is very clear that we want good relations...

Dengue: 5 more die _

Five more deaths were reported from dengue in 24 hours till Wednesday morning, raising the number of fatalities from the mosquito-borne disease in Bangladesh to 509 this year, reports UNB.Among the recent fatalities, two took place in Dhaka North City Corporation (DSCC), while one occurred in Dhaka South City Corporation...

CIVICUS upgrades BD's civic space after reforms

The CIVICUS Monitor on Wednesday said it upgraded the rating of Bangladesh in terms of its increased civic space after the much-needed reforms have been made by the interim government.The CIVICUS Monitor, a research consortium led by global civil-society alliance CIVICUS, tracked civic-space conditions in 198 countries in 2024, compiled...

BB asks banks to provide loan info of Thermax Group

The Bangladesh Bank (BB) has instructed all scheduled banks or lenders operating in the country to submit the detailed liability statements of Thermax Group and its associate entities.On Tuesday, Department of Off-Site Supervision of BB sent a formal letter to the managing directors and chief executive officers of these banks.The...

BB relaxes loan classification, provisioning rules for CMSME sector

Bangladesh Bank (BB) has relaxed the rules of loan classification and provisioning for the Cottage, Micro, Small and Medium Enterprises (CMSME) sector to create more employment opportunities through increasing investment, reports BSS.The central bank Wednesday issued a circular to this end.As per the circular, financial institutions will have to keep...