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The Financial Express

Search results for: Bangla

‘Reforms suggested by IMF as part of loan programme are rational’

‘Reforms suggested by IMF as part of loan programme are rational’

-- 2023-02-04 20:53:36

State Minister for Planning Shamsul Alam thinks the IMF loans will positively impact Bangladesh’s economy. He also believes the reforms suggested by the IMF as part of the loan programme are &l...

Weekly market review: Stocks flat as investors digest earnings

Weekly market review: Stocks flat as investors digest earnings

FE REPORT 2023-02-04 10:11:27

Stocks ended nearly flat in the week to Thursday after a three-week rally as investors tried to rebalance their portfolios taking cues from the latest quarterly earnings reports. Investors mostly opt...

Genex Infosys tops turnover chart for fourth week

Genex Infosys tops turnover chart for fourth week

FE REPORT 2023-02-04 10:03:46

The ten most-traded stocks accounted for 48 per cent of transactions on the Dhaka Stock Exchange (DSE) in the outgoing week, with Genex Infosys dominating the turnover list for the fourth straight wee...

IMF sets floor for net forex reserve at $24.4b for June

IMF sets floor for net forex reserve at $24.4b for June

SYFUL ISLAM 2023-02-04 08:52:19

Bangladesh will have to maintain net international reserves of at least US$24.46 billion in June this year in line with the International Monetary Fund (IMF)'s BPM6 definition. The IMF set this floor...

Trading of Dhaka Bank Perpetual Bonds begins Sunday

Trading of Dhaka Bank Perpetual Bonds begins Sunday

FE REPORT 2023-02-03 09:05:06

Trading of Dhaka Bank Perpetual Bonds will commence on the stock exchanges on February 5 under the settlement category 'N' as an eighth listed perpetual bonds. The Dhaka Stock Exchange trading code f...

Aftab Automobiles evades loss as revenue jumps 131pc

Aftab Automobiles evades loss as revenue jumps 131pc

FE Report 2023-02-03 09:00:35

Aftab Automobiles narrowly escaped loss in October-December of the FY23 only by raising revenue at nearly 131 per cent year-on-year. Its earnings per share (EPS) rose to Tk 0.01 for the second quar...

Bangladesh receives $476.2m in first tranche of IMF loan

Bangladesh receives $476.2m in first tranche of IMF loan

-- 2023-02-02 20:31:05

The International Monetary Fund has released the first tranche of $476.2 million of the $4.7 billion loans it approved for Bangladesh. Bangladesh Bank spokesperson Mezbaul Haque said the funds were t...

Provisioning rules eased for broker, merchant banks

Provisioning rules eased for broker, merchant banks

-- 2023-02-02 18:50:33

Bangladesh Bank (BB) has halved banks' general provisioning requirement to 1.0 per cent against their loans for brokerage firms, stock dealers, and merchant banks. "It has been decided that banks wil...

Bangladesh’s exports rise 5.89pc in January

Bangladesh’s exports rise 5.89pc in January

-- 2023-02-02 17:39:49

Bangladesh managed to bring in more than 5.0 billion US dollars in export receipts for a third consecutive month in January, beating the expectations of businesses. Exports increased 5.89 per cent...

DSE turnover crosses Tk 2b-mark after first hour of trading

DSE turnover crosses Tk 2b-mark after first hour of trading

FE ONLINE REPORT 2023-02-02 11:49:48

Stocks opened marginally higher on Thursday as investors showed their buying interest in sector-specific issues whose financial performance was not affected by recent macroeconomic challenges. Turnov...

IFAD Autos' profit plunges on lower demand for imported vehicles

IFAD Autos' profit plunges on lower demand for imported vehicles

FE Report 2023-02-02 10:11:52

IFAD Autos saw a steep 75.9 per cent year-on-year fall in profit for the second quarter of the FY23, hit hard by revenue fall coupled with escalating foreign exchange loss. With the first quarter inc...

Renata's profit dips to 10-quarter low on stronger dollar

Renata's profit dips to 10-quarter low on stronger dollar

BABUL BARMAN 2023-02-02 09:41:44

Renata Limited's profit dropped below Tk 1 billion in October-December 2022 for the first time in 10 quarters due to a spike in the prices of raw materials driven by the dollar crisis. One of the lea...

Al-Madina Pharma to raise Tk 50m through QIO

Al-Madina Pharma to raise Tk 50m through QIO

FE Report 2023-02-02 09:38:45

Al-Madina Pharmaceuticals will raise a capital worth Tk 50 million through Qualified Investor Offer (QIO). The company will utilise the fund for expanding business and repaying loans along with cater...

Current-account deficit narrows

Current-account deficit narrows

JASIM UDDIN HAROON 2023-02-02 08:49:07

Crunch-induced import restrictions come to the rescue as Bangladesh's current-account deficit (CAD) decreased over 36 per cent in six months to December from corresponding period a year before. Ban...

Bangladesh sees high debt buildup

Bangladesh sees high debt buildup

JASIM UDDIN HAROON 2023-02-02 08:42:14

Bangladesh sees ballooning debt buildup with the amount increasing by over Tk 2.0 trillion to Tk 13.44 trillion at the end of past fiscal year, further feeding into fiscal deficit. According to the l...

Remittance rebound on stream

Remittance rebound on stream

FE REPORT 2023-02-01 23:36:29

Remittance rebound, after recent recession, is on stream as Bangladesh received around 16-percent higher foreign funds in January from remitters from previous month's amount. Officials concerned soun...

Central bank simplifies process of receiving remittances for service providers

Central bank simplifies process of receiving remittances for service providers

-- 2023-02-01 21:02:06

Bangladesh Bank (BB) has simplified the process of receiving foreign currency earned by providing services to foreign institutions, according to a circular issued by the central bank. From now on, th...

Central bank raises interest rate for loans from EDF

Central bank raises interest rate for loans from EDF

-- 2023-02-01 20:11:21

Bangladesh Bank (BB) has raised the interest rate on loans made from its Export Development Fund (EDF). "It has been decided that interest rate on EDF loans to ADs will be charged by Bangladesh Bank...

ICB AMCL approves dividends

ICB AMCL approves dividends

FE Report 2023-02-01 09:21:24

The trustee of the ICB AMCL Shotoborsho Unit Fund has approved dividends for FY 2022. As per the approval, the unit holders whose names appeared in the fund's registers within December 31, 2022 will...

ACI's profit drops marginally in Q2

ACI's profit drops marginally in Q2

FE REPORT 2023-02-01 09:18:31

ACI Limited, one of the leading conglomerates in Bangladesh, has posted a marginal drop in profit in the three months through December 2022, caused by an increase in costs due to currency devaluation...

BB shuffles tasks for deputy governors

BB shuffles tasks for deputy governors

FE REPORT 2023-02-01 08:32:15

The Bangladesh Bank (BB), in a major move, made some changes in the responsibilities of its deputy governors on Tuesday, the BB sources said. As part of the changes, the central bank has given the re...

BD economy to start improving from next FY, says IMF's WEO

BD economy to start improving from next FY, says IMF's WEO

FE Report 2023-02-01 08:08:55

The International Monetary Fund (IMF) revised Bangladesh's economic growth projection further down to 5.5 per cent for the current fiscal year (FY 2022-23), but expected it to start rebounding from...

Bangladesh reserves to fall to $30bn in FY23 before bouncing back: IMF

Bangladesh reserves to fall to $30bn in FY23 before bouncing back: IMF

FE ONLINE DESK 2023-01-31 14:29:43

The International Monetary Fund estimates that Bangladesh’s foreign currency reserves will fall to $30 billion by the end of the 2022-23 fiscal year, bdnews24.com reports. The forex reser...

Bangladesh secures $4.7b in IMF loans

Bangladesh secures $4.7b in IMF loans

FE ONLINE DESK 2023-01-31 10:12:02

The Executive Board of the International Monetary Fund has approved $4.7 billion in loans for Bangladesh at the request of the government, helping the country build a buffer against depleting forex re...

Beximco Pharma's profit returns to pre-Covid level on expiry of vaccine deal

Beximco Pharma's profit returns to pre-Covid level on expiry of vaccine deal

FE REPORT 2023-01-31 09:26:15

Beximco Pharmaceuticals reported a 28 per cent year-on-year decline in profit for October-December, FY23, rendered by rising costs and the expiry of the Covid vaccine distribution agreement. The cons...

DESCO reports first loss in 10 quarters

DESCO reports first loss in 10 quarters

FE REPORT 2023-01-31 09:22:38

Dhaka Electric Supply Company (DESCO) - the state-owned electricity distributor - has reported a loss of Tk 31.71 million in the three months through December 2022 despite a growth in distribution r...

No special scheme with forex reserves

No special scheme with forex reserves

FE REPORT 2023-01-31 09:12:27

The central bank will not create any more special financing scheme now with funds from the foreign- exchange reserves to support businesses. Governor Abdur Rouf Talukder made it clear at a function a...

Expressions marks 30th anniversary

Expressions marks 30th anniversary

FE DESK 2023-01-30 14:08:23

Employees of Expressions Ltd pose for photo at the celebration programme of the advertising agency in Rajendrapur on Friday. Expressions Ltd., one of the country's leading advertising agencies, celeb...

Crown Cement cuts costs, pushes up sales to return to profit

Crown Cement cuts costs, pushes up sales to return to profit

BABUL BARMAN 2023-01-30 12:20:28

Crown Cement returned to profit in the second quarter of the FY23 ended in December, having suffered losses in the previous two quarters, as it boosted revenue while cutting down costs. It secured a...

T-bill yields fall

T-bill yields fall

JASIM UDDIN HAROON 2023-01-30 09:48:58

The Bangladesh Treasury Bill (T-bill) yields fell on Sunday, as banks shown interest in the risk-free government securities. The yield of the 91-day T-bill dropped by 10 basis points to 7.25 per cent...