Banking
Banks begin lowering both deposit, lending rates
Since early December last year, the downward trend in the yield of the T-bills continues plummeting to reach 10.35 per cent, 10.25 per cent and 10.35 per cent respectively in accordance with the auctions held on Sunday, the data showed. Managing director and chief executive officer of Pubali Bank Mohammad Ali says the bank, like other banks under the current changing interest-rate regime, has taken a plan to give more attention on private-sector credit in the days ahead. “As part of the planning,” he says, “our bank is set to make a downward revision regarding deposit and lending rates in latter part of this month.”
https://today.thefinancialexpress.com.bd/first-page/banks-begin-lowering-both-deposit-lending-rates-1739730169

Fuel & Power
Diesel transfer underway via Dhaka-Ctg fuel pipeline
The initial process of supplying fuel oil through a pipeline from Chattogram to the Dhaka region has begun. Already, 20 million litres of diesel have been pumped from the Eastern Refinery in Chattogram. Experts refer to this process as “line packing.” The diesel is expected to reach Godnail on Tuesday. Later, it will be transported to the Fatullah depot.
https://www.thedailystar.net/environment/natural-resources/energy/news/diesel-transfer-underway-dhaka-ctg-fuel-pipeline-3825766

Textile
Apparel exports to Europe, US post robust growth
Bangladesh’s apparel shipments to key export markets—Europe and the US—posted robust growth in the first seven months of the current fiscal year of 2024-25. This ushered in hopes that work orders would continue to come in increasing quantities, as some orders had been diverted from China amid tariff wars between the world’s two biggest economies. Exports to the European Union shot up 13.91 percent year-over-year to $11.81 billion in the July–January period of fiscal year 2024-25. In the case of the US, the single biggest market for Bangladesh’s garments, clothing shipments surged 16.45 percent to $4.47 billion in the first seven months of this fiscal year.
https://www.thedailystar.net/business/news/apparel-exports-europe-us-post-robust-growth-3826086

Jute
Bangladesh Bank eases loan rescheduling policy for raw jute exporters
The Bangladesh Bank has eased the loan rescheduling policy for raw jute exporters for the next two years. The central bank in a circular yesterday (16 February) stated that Raw Jute Exporters can reschedule loans with a 2% down payment of their outstanding loans. The loan outstanding will be calculated based on 31 March 2024, said the circular. As a result, the traders can get loans from scheduled banks as their moratorium will be accepted by banks.
https://www.tbsnews.net/economy/banking/bangladesh-bank-eases-loan-rescheduling-policy-raw-jute-exporters-1070096

Capital Market
BSEC withdraws suspension on BO accounts of RACE-managed mutual funds
The Bangladesh Securities and Exchange Commission (BSEC) has withdrawn its earlier order that suspended all beneficiary owner (BO) accounts of mutual funds managed by Bangladesh RACE Management PCL. Rezaul Karim, spokesperson and executive director of the BSEC, told The Business Standard that two separate cases related to the matter are currently pending in the High Court. Since the issue is sub judice, the BSEC decided to lift the suspension, he added.
https://www.tbsnews.net/economy/stocks/bsec-withdraws-suspension-bo-accounts-race-managed-mutual-funds-1070086

Stocks
Asiatic Lab sees 16% growth in Oct-Dec
Asiatic Laboratories, a pharmaceutical company listed on the stock market, reported a 16% growth in its earnings per share (EPS) for the second quarter, covering the period from October to December. However, the company experienced a 37% year-on-year decline in its half-yearly EPS during the July to December period, according to its unaudited financial report published on the Dhaka Stock Exchange (DSE) on Sunday. Its half-yearly EPS declined significantly, as it witnessed a 74% fall in the first quarter, covering the July to September period.
https://www.tbsnews.net/economy/stocks/asiatic-lab-sees-16-growth-oct-dec-1070206