Macro
Bangladesh receives $1.66 billion remittance in 15 days of March
Expatriate Bangladeshis sent over $1.66 billion in remittances during the first 15 days of March in the 2024-25 fiscal year. If the current pace continues, remittance inflows may set a new benchmark, several treasury heads of banks have said. The amount of inbound remittance in March is expected to cross $3.0 billion as the country is receiving $110 million every day in remittance.
https://thefinancialexpress.com.bd/economy/bangladesh/bangladesh-receives-166-billion-remittance-in-15-days-of-march

T-bills witness sharp increase in yields
The yields on treasury bills (T-bills) increased significantly on Sunday as banks showed reluctance to invest their excess liquidity in the securities ahead of the upcoming Eid-ul-Fitr. The cut off yield, generally known as interest rate, on the 91-Day T-bills rose to 10.75 per cent from 10.35 per cent of the previous level while the yield on 182-Day T-bills reached 10.90 per cent from 10.84 per cent from the earlier level. However, the yield on 364-Day T-bills rose to 11.09 per cent on the day from 10.79 per cent earlier, according to the auction results.
https://today.thefinancialexpress.com.bd/last-page/t-bills-witness-sharp-increase-in-yields-1742146505

RMG exports to major markets see double-digit growth in Jul-Feb
Bangladesh’s apparel exports to major markets have achieved double-digit growth over the first eight months of the current fiscal year 2024-25, thanks to the growing demand by brands and retailers. The markets include the European Union (EU), the United States (US), and Canada. The country’s ready-made garments (RMG) exports grew by 10.64% globally, reaching a total of $26.79 billion during the July-February period of FY25.
https://www.tbsnews.net/economy/rmg/rmg-sees-double-digit-growth-major-markets-1092741

Net sales of savings certificates nosedive in July-Jan
The net sales of national savings certificates (NSCs) continued their downward trend in the first seven months of the current financial year, reflecting the impact of prolonged inflation and shifting investment preferences. According to Bangladesh Bank data, the net sales of NSCs stood at a negative Tk 7,013 crore in the July–January period of FY25, slightly improving from the negative Tk 7,350 crore recorded in the same period last year.
https://www.newagebd.net/post/economy/260261/net-sales-of-savings-certificates-nosedive-in-july-jan

CPD warns revenue shortfall could hit Tk 1.05 trillion
The Centre for Policy Dialogue (CPD) has warned that the country’s revenue shortfall could reach Tk 1.05 trillion this fiscal year, even after factoring in potential sources to boost collections. The collection grew by just 4.4 per cent from July to December, the think tank told a media briefing at its office in Dhaka city. CPD proposed reducing the VAT rate to 10 per cent from the existing 15 per cent, believing this may help curb tax evasion.
https://thefinancialexpress.com.bd/economy/cpd-warns-revenue-shortfall-could-hit-tk-105-trillion

Corporate tax rate to be ‘revisited’ in upcoming budget: Finance adviser
Finance Adviser Saleh Uddin Ahmed has said the current corporate tax rate is high in Bangladesh, and therefore it will be “revisited” in the upcoming national budget. Besides, direct taxes will be prioritised in the next budget over indirect taxes to reduce economic inequality, he said. “Since taking office, I have revoked tax exemptions to various individuals and sectors. To further reduce tax expenditure, such exemptions will be curtailed even more in the upcoming budget,” he said.
https://www.tbsnews.net/economy/corporate-tax-rate-be-revisited-upcoming-budget-finance-adviser-1094556

Services & Real Estate
Luxury hotels hit hard as political uncertainty deters foreign guests
Bangladesh’s luxury hotel industry is experiencing a downturn as political uncertainty reduces the number of foreign guests, according to a top executive of the local hospitality sector. The decline in international visitors is putting pressure on high-end hotels that rely heavily on business travelers and tourists, said Shakawath Hossain, chief executive officer of Unique Hotel & Resorts PLC, which owns The Westin Dhaka, Sheraton Dhaka, and HANSA.
https://www.thedailystar.net/business/news/luxury-hotels-hit-hard-political-uncertainty-deters-foreign-guests-3850071

Telecommunication
Satellite company seeks partnership to fast-track Starlink’s entry
Bangladesh Satellite Company Limited (BSCL) is seeking a partnership with Starlink to facilitate the launch of satellite internet services in Bangladesh. As part of the effort, the country’s sole satellite company has proposed hosting Starlink’s gateway at its ground stations in Gazipur and Betbunia.
https://www.thedailystar.net/business/news/satellite-company-seeks-partnership-fast-track-starlinks-entry-3850096

Bank
Capital to risk-weighted asset hits 15-yr low as 16 banks miss the requirement
At least 16 banks – an increase of five – failed to maintain the mandatory Capital to Risk-Weighted Asset Ratio (CRAR) in the September quarter of 2024. The sector-wide CRAR dropped below 7% – well below the 10% minimum and the lowest average in 15 years – due to taking into account the real data on non-performing loans and the overall health of the banking sector.
https://www.tbsnews.net/economy/banking/capital-risk-weighted-asset-hits-15-yr-low-16-banks-miss-requirement-1094551

Fuel & Power
Govt prepares model PSC for a fresh bidding round
The government has moved to launch an onshore bidding round, 28 years after the previous one, to expedite hydrocarbon exploration in onshore areas with a view to meeting the country’s mounting natural gas demand in industries, power plants and other establishments. State-run Petrobangla has already prepared a draft of the Model Production Sharing Contract (MPSC) making the terms attractive to potential international oil companies (IOCs), a senior Petrobangla official said.
https://thefinancialexpress.com.bd/economy/govt-prepares-model-psc-for-a-fresh-bidding-round

Chinese solar giant Longi to invest in Bangladesh
Longi, one of the world’s largest solar panel manufacturers, has decided to set up an office and invest in solar panel manufacturing in Bangladesh, Chinese Ambassador to Bangladesh Yao Wen said on Sunday. The decision follows a visit by several top Chinese solar panel manufacturers in December to explore investment opportunities after Chief Adviser Professor Muhammad Yunus invited Chinese firms to relocate their manufacturing plants as part of the Interim Government’s plan to turn Bangladesh into an economic hub.
https://www.thedailystar.net/business/news/chinese-solar-giant-longi-invest-bangladesh-3849646

Financial Institutions
NBFI deposits up 0.37pc in Oct-Dec
Non-bank financial institutions (NBFIs) see a ray of hope for the industry’s much-needed rebound with increased deposits in the second quarter (Q2) of this financial year. According to the latest statistics released by the Bangladesh Bank (BB) on Sunday, total deposits, excluding inter-NBFIs, in the sector increased by Tk 1.868 billion or 0.37 per cent to Tk 480.252 billion during October-December 2024 compared to July-September of the year.
https://thefinancialexpress.com.bd/economy/nbfi-deposits-up-037pc-in-oct-dec

Capital Market
BSEC slaps Tk187 crore fine on Sea Pearl Beach Resort share manipulators
The Bangladesh Securities and Exchange Commission (BSEC) has imposed fines totalling Tk187.22 crore on nine private firms and four individuals for manipulating shares of Sea Pearl Beach Resort & Spa Limited. The decision was made in a commission meeting on 4 March, following an investigation into the company’s share trading. The regulator will soon issue letters to the involved parties.
https://www.tbsnews.net/economy/stocks/bsec-slaps-tk187-crore-fine-sea-pearl-beach-resort-share-manipulators-1094536