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The Financial Express

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Banks' bad loan write-off jurisdiction broadened

Banks' bad loan write-off jurisdiction broadened

FE REPORT 2023-01-06 08:42:50

Discretionary authority of banks on loan write-off is broadened with the volume of elimination of receivable amounts from their balance sheets increased by 150 per cent. The central bank of Banglad...

Asset managers sweat with fear of scam-induced selling pressure

Asset managers sweat with fear of scam-induced selling pressure

MOHAMMAD MUFAZZAL 2023-01-05 08:58:40

The latest scam of Tk 1.57 billion by an asset manager came as a fresh blow to the mutual fund sector as a sense of insecurity is feared to prompt open-end unit holders to mount a liquidation pressure...

Forex borrowing thru offshore banking to continue

Forex borrowing thru offshore banking to continue

FE REPORT 2023-01-05 08:51:33

Placement of funds from offshore banking operations (OBOs) with domestic banking units will continue to facilitate import payment, at this hour of foreign-exchange crisis worldwide. The central bank...

India assures Bangladesh of providing energy support, says Nasrul

India assures Bangladesh of providing energy support, says Nasrul

-- 2023-01-04 22:01:01

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said Indian power and petroleum ministers assured of providing support to Bangladesh’s energy and power sector. "We have...

BB raises dollar exchange rate by Tk 1 to Tk 100

BB raises dollar exchange rate by Tk 1 to Tk 100

-- 2023-01-04 19:16:41

Bangladesh Bank (BB) on Wednesday increased the exchange rate of a US dollar by Tk 1 to Tk 100. Now, those who will buy dollars from the central bank will have to pay Tk100 for each US dollar. The c...

Out of business, two junk stocks rise to 2022 winners' list

Out of business, two junk stocks rise to 2022 winners' list

BABUL BARMAN 2023-01-04 08:59:12

Factories had closed following years of losses. Then the economy plunged into turmoil. But nothing seems to have kept the stocks of Imam Button Industries and Meghna Condensed Milk Industries from mak...

DSE extends partnership with Nasdaq for tech support

DSE extends partnership with Nasdaq for tech support

FE Report 2023-01-04 08:56:57

The Dhaka Stock Exchange (DSE) and Nasdaq have extended their partnership agreement for another three years to keep the existing trading software in operation. NASDAQ provides the technological suppo...

Govt bank borrowing balloons as revenues, savings tools sale fall

Govt bank borrowing balloons as revenues, savings tools sale fall

FE REPORT 2023-01-04 08:44:26

Government borrowings from banking system, including the central bank, nearly doubled to Tk 319.72 billion in six months to December 15 over the same period a year before, as resource mobilisation c...

China to fund potential Mongla port project

China to fund potential Mongla port project

MIR MOSTAFIZUR RAHAMAN 2023-01-04 08:42:16

A major development it is being billed as China finally agrees to fund a $400-million project for upgrading the Mongla seaport that holds potential to promote sub-regional cooperation. Officials sa...

Bangladesh eyes of France's continuous support for GSP+ bid beyond 2029

Bangladesh eyes of France's continuous support for GSP+ bid beyond 2029

-- 2023-01-03 20:10:03

State Minister for Foreign Affairs Md Shahriar Alam has expressed his optimism that France will continue to support Bangladesh's bid for a GSP+ facility beyond 2029 under the European Union's new GSP...

Dollar price for export proceeds raised to Tk 102

Dollar price for export proceeds raised to Tk 102

-- 2023-01-03 15:45:47

Foreign exchange dealers and banks have raised the US dollar exchange rate for export proceeds by Tk 1 to Tk 102. The decision was taken at a meeting between the Bangladesh Foreign Exchange Dealers A...

Regulator considers tax incentives to lure new companies

Regulator considers tax incentives to lure new companies

Mohammad Mufazzal 2023-01-03 09:06:03

The securities regulator seeks policy support, especially from the revenue board, to attract non-listed but good companies into the stock market so it gets strengthened when majority securities are...

External debt falls in Q1

External debt falls in Q1

JUBAIR HASAN 2023-01-03 08:56:02

Following an upward trend, Bangladesh's external debt declined to some extent in the first quarter (Q1) of the current fiscal year (FY 2022-23) thanks to lower public borrowings due to stalled less-...

Tk 41b collected as income tax, 2.85m returns submitted

Tk 41b collected as income tax, 2.85m returns submitted

-- 2023-01-02 21:41:22

Some 2.85 million individual taxpayers submitted their returns in the current fiscal year 2022-23 where the National Board of Revenue (NBR) collected Tk 41.0 billion as income tax. Submission of inco...

Year ends with average inflation of 7.70 pc

Year ends with average inflation of 7.70 pc

FE ONLINE REPORT 2023-01-02 19:39:12

Though the monthly rate of inflation eased in December last, the just concluded year was marked by a higher rate of inflation of 7.70 per cent on average, compared to 5.54 per cent in 2021. Banglades...

Trade gap reduced in July-November

Trade gap reduced in July-November

FE ONLINE REPORT 2023-01-02 19:13:54

The country’s goods trade deficit with the rest of the world reduced slightly in the first five months of the current fiscal year (FY23). The latest balance of payments (BoP) statistics, releas...

BB creates TK 100 billion export facilitation fund

BB creates TK 100 billion export facilitation fund

-- 2023-01-02 18:27:41

Bangladesh Bank (BB) has created an export facilitation fund of Tk 100 billion to support export-oriented firms. Under the fund, an exporter will be allowed to take a loan of a maximum of Tk 2.0 bill...

December exports rise to record $5.37 billion

December exports rise to record $5.37 billion

-- 2023-01-02 17:01:30

Bangladesh’s exports rose 9.33 per cent year-on-year to a record high of $5.37 billion in December last year, surpassing the previous monthly peak in November. The country exported goods worth...

Changes brought by bearish market may bear long-term fruits

Changes brought by bearish market may bear long-term fruits

BABUL BARMAN 2023-01-02 08:53:33

The stock market passed a rough patch last year. But the changes that the regulator felt forced to make to bring some sort of stability in the volatile market will bear fruits not only in 2023 but als...

A Tk 100b bet for boosting exports, forex earnings

A Tk 100b bet for boosting exports, forex earnings

FE REPORT 2023-01-02 08:41:13

A Tk100-billion bet is offered for boosting export and foreign-exchange earning as the central bank forms an export pre-finance scheme with the revolving fund under government drive for propping up...

Remittance inflow increases by 4.23pc in December

Remittance inflow increases by 4.23pc in December

-- 2023-01-01 19:46:27

Expatriate Bangladeshis sent US$ 1.7 billion through the banking channel in December last year, which was 4.23 per cent higher than the corresponding month of the previous year, according to Banglades...

64pc TIN holders fail to submit returns within extended deadline

64pc TIN holders fail to submit returns within extended deadline

-- 2023-01-01 19:19:58

Though the government has made mandatory the submission of tax returns to get more than 40 services, the response remained poor. The National Board of Revenue (NBR) extended time twice for return sub...

2022's overvalued stocks that defy investment formulae

2022's overvalued stocks that defy investment formulae

Mohammad Mufazzal 2023-01-01 09:02:30

Many listed companies have been traded at abnormally high P/E (price to earnings) ratio in the outgoing year when the market has remained persistently gloomy and their peers with good fundamentals h...

Mega projects in 2022: After two opened, sight set on more in 2023

Mega projects in 2022: After two opened, sight set on more in 2023

FHM Humayan Kabir 2023-01-01 08:54:40

Bangladesh witnessed successful completion of two mega projects -- Padma Bridge and metro rail -- in the just concluded year of 2022, marking a massive development in the country's communications netw...

Welcome 2023, the annus mirabilis

Welcome 2023, the annus mirabilis

JASIM UDDIN HAROON AND DOULAT AKTER MALA 2023-01-01 08:48:23

Welcome 2023 AD, the year that is preceded by one of the most difficult periods in history. People are pinning high hopes on the New Year, expecting an economic turnaround. It is expected that a to...

Banks bag operating profits in bygone year

Banks bag operating profits in bygone year

JASIM UDDIN HAROON and JUBAIR HASAN 2023-01-01 08:44:34

A number of commercial banks posted EBIT or operating profits in the adversity-fraught bygone year, in a significant growth amidst a series of loan-related scams in the country's banking system. EB...

Fight against doom and gloom to continue: Ahsan H Mansur

Fight against doom and gloom to continue: Ahsan H Mansur

MOHAMMAD MUFAZZAL 2022-12-31 17:36:27

The stock market is heading into 2023, bearing the burden of domestic financial mismanagement, supply chain disruptions, and economic slowdowns globally. Unless these macroeconomic worries are addres...

Beximco leads turnover chart for second straight year

Beximco leads turnover chart for second straight year

FE REPORT 2022-12-31 09:16:05

The Bangladesh Export Import Company or Beximco, the flagship company of Beximco Group, topped the turnover chart of Dhaka Stock Exchange (DSE) for a second straight year in 2022 while ten most-traded...

Stocks inch up in final week of 2022 to give investors some hope

Stocks inch up in final week of 2022 to give investors some hope

FE REPORT 2022-12-31 09:13:18

Stocks edged higher in the last week of the year as bargain hunters put fresh bets on some oversold issues as part of year-end restructuring of their portfolios. The stock market, however, had a roug...

Macroeconomic health needs healing doses

Macroeconomic health needs healing doses

FHM Humayan Kabir 2022-12-31 09:01:41

Bangladesh's macro-economy got into tribulation in the second half (H2) of the outgoing calendar year mainly under massive inflationary pressure and steep dollar appreciation amid higher import paymen...