Macro
Reserves drop to $19.7bn after ACU payment
Bangladesh’s foreign exchange reserves fell from $21.39 billion to $19.7 billion yesterday after the country paid $1.75 billion in regional import bills through the Asian Clearing Union (ACU). Due to a growing trend in remittance inflows in recent months, the central bank has been able to mitigate the sharp decline in forex reserves.
https://www.thedailystar.net/business/economy/news/reserves-drop-197bn-after-acu-payment-3843426

Bangladesh’s economy expands at slower pace in Feb: PMI
Bangladesh’s Purchasing Managers’ Index (PMI) in February dropped by 1.1 points to 64.6, indicating a slowdown in the pace of economic expansion compared to the previous month. The pace of growth in agriculture and manufacturing increased from January, while it declined in the construction and service sectors.
https://www.tbsnews.net/economy/bangladeshs-economy-expands-slower-pace-feb-pmi-1088571

Private sector credit growth hits decade-low
Credit appetite of the local private firms continues to fizzle out as the ongoing battle against inflation makes bank borrowing more expensive amid a volatile political climate after the August political changeover. In January this year, credit flow to private firms grew by only 7.15 percent, the lowest since at least 2015, according to data from the Bangladesh Bank.
https://www.thedailystar.net/business/news/private-sector-credit-growth-hits-decade-low-3843711

Food prices responsible for 53% of inflation
Inflation in Bangladesh saw a marginal decline in the second quarter of the current fiscal year, averaging 11.1 percent, with food prices contributing more than half to the overall increase in prices. According to a Bangladesh Bank report on inflation dynamics, food prices accounted for 53 percent of the rise in prices during the October-December quarter, an increase from 50 percent logged in the previous quarter.
https://www.thedailystar.net/top-news/news/food-prices-responsible-53-inflation-3843406

Govt releases Tk 10b incentives for exporters
The government has released Tk 10 billion as cash incentive for the country’s exporters, according to sources. Finance Division issued an order to this end on March 5. It is the third instalment of the export incentive allocated in the current financial year, 2024-25, for export sectors.
https://today.thefinancialexpress.com.bd/trade-market/govt-releases-tk-10b-incentives-for-exporters-1741542605

Telecommunication
Mobile internet subscriber base shrinks by 1.31 crore in seven months
The number of mobile internet subscribers fell by 1.31 crore in the seven months to January this year, reaching 11.60 crore, with a loss of 10 lakh in January alone. Industry experts attribute this decline to a 50 percent increase in SIM tax, a reduction in subsidised SIM sales by operators, and economic hardships faced by consumers.
https://www.thedailystar.net/business/news/mobile-internet-subscriber-base-shrinks-131-crore-seven-months-3843286

Telecom policy to undergo fundamental reforms
The government will fundamentally transform the country’s telecom policy to unlock the digital economy, improve service quality and prevent internet shutdowns during critical periods, said Faiz Ahmad Taiyeb, the newly appointed special assistant to the chief adviser. He urged businesses to abandon monopolistic or duopolistic approaches, saying, “The government is determined to dismantle policies that have stifled Bangladesh’s data market by allowing certain companies to hold onto the existing fiber infrastructure as if it were a treasure trove.”
https://www.thedailystar.net/business/news/telecom-policy-undergo-fundamental-reforms-3843696

Pharmaceuticals & Chemicals
Pharma exports rise, but Feb slump raises eyebrows
Bangladesh’s pharmaceutical exports posted steady growth in the first eight months of the current fiscal year, buoyed by rising demand from developed markets, though a sharp decline in February raised concerns, industry experts said. The sector earned $145.46 million from July to February of fiscal year (FY) 2024-25, a 7.1 percent increase from $135.81 million in the same period a year earlier, according to data from the Export Promotion Bureau (EPB). In February alone, the sector generated $13.02 million, lower than the $16.81 million recorded in the same month of the previous fiscal year, marking a 22.6 percent decline.
https://www.thedailystar.net/business/news/pharma-exports-rise-feb-slump-raises-eyebrows-3843686

Stock
DSE upgrades Samata Leather from Z to B category
The Dhaka Stock Exchange (DSE) has upgraded Samata Leather Complex from the ‘Z’ category to the ‘B’ category, marking a significant shift in its classification on the capital market. The upgrade follows the company’s announcement of a 0.40% cash dividend for general investors for the fiscal year 2024, which ended on 30 June.
https://www.tbsnews.net/economy/stocks/dse-upgrades-samata-leather-z-b-category-1088611

Apex Footwear’s Syed Manzur Elahi buys 50,000 shares of the company
Syed Manzur Elahi, a sponsor director of Apex Footwear Ltd, has purchased 50,000 shares of the leading footwear maker, the company said yesterday. After the purchase, Elahi, also the chairperson of the company, now holds a 7.34 percent stake in Apex Footwear, up from 7 percent earlier, according to Apex Footwear’s annual report for the 2023-24 financial year.
https://www.thedailystar.net/business/news/apex-footwears-syed-manzur-elahi-buys-50000-shares-the-company-3843196