Bangladesh's Power, Progress, and Policies

• Bangladesh Revises National Budget by cutting budget to control inflation and stabilize reserves through reduced expenditures in key areas Source

• WB & ADB Pledge $1.1 Billion in Loans tied to Fiscal Reforms, VAT Automation, and Climate Resilience Initiatives Source

• Nepal-Bangladesh-India Begin Power Trading with a trilateral agreement exporting 40 MW of electricity from Nepal to Bangladesh via India Source

• Bangladesh’s MFS Accounts surged with 20 million new accounts, reaching 233.7 million in September 2024 Source

• Single-band routers will be banned in Bangladesh from April 2025, enhancing broadband speed and quality Source

• Leather Footwear Exports Hit $228 Million in July–October FY24, driven by growing demand in the U.S. and EU markets Source

• Bangladesh, Japan to Sign EPA by 2026 to expand bilateral trade and deepen investment relations Source

• India’s Tata Acquires iPhone Plant in Tamil Nadu, enhancing iPhone production capacity with a 60% stake Source

• Bangladesh will enhance gold imports as prices continue to rise, surpassing BDT 137,000 per bhori. Source

Banking & Economy

• Bangladesh Revises National Budget: The government plans to cut the FY25 budget to curb inflation and stabilize reserves, reducing expenditures on vehicles, land acquisitions, and foreign tours Source

• WB & ADB Commit $1.1 Billion in Loans: The World Bank and Asian Development Bank will provide loans by December to support fiscal reforms, tax compliance, and climate resilience programs Source

• Moody’s Downgrades Bangladesh’s Rating: Bangladesh’s long-term credit rating was lowered to B2, with GDP growth forecasts revised to 4.5% for FY25 amid fiscal and inflationary challenges Source

• Bangladesh MFS Accounts Surge: Mobile financial service accounts rose by nearly 20 million in one year, reaching 233.7 million, with transactions totaling Tk. 1.45 trillion in September Source

• Gold Prices Continue to Rise: Gold prices increased to BDT 137,448 per bhori, reflecting higher international market volatility and local demand Source

• BSEC Proposes Tax Incentives for IPOs: Companies offering at least 30% free-float shares could enjoy a five-year tax holiday under a proposed capital market reform plan Source

• IMF Loan Tranche Discussions Continue: Bangladesh has reportedly met the conditions for the fourth tranche of the $4.7 billion IMF loan, focusing on maintaining reserves above $15.3 billion by December Source

• Bangladesh Bank Reintroduces Bills: After a three-year pause, the central bank resumed issuing bills to mop up liquidity, targeting Tk. 55.62 billion in excess funds Source

Trade & Commerce

• Tata Acquires Pegatron’s iPhone Plant: Tata’s acquisition of a 60% stake in the Tamil Nadu plant strengthens India’s position in iPhone manufacturing Source

• Nepal-Bangladesh-India Power Agreement Launched: The countries initiated a trilateral energy export agreement, with Nepal supplying 40 MW to Bangladesh through India’s grid Source

• New Cargo Terminal Opens at Benapole: A state-of-the-art terminal now accommodates up to 1,500 trucks daily, reducing congestion and boosting cross-border trade efficiency Source

• Leather Footwear Exports Reach $228 Million: Bangladesh’s footwear exports hit a five-year high in July–October FY24, fueled by demand in the U.S. and EU Source

• Single-Band Router Ban to Begin in April 2025: The government will ban single-band routers, requiring all devices to support dual-band frequencies for faster broadband Source

International

• India’s Forex Reserves Fall by $6.5 Billion: Reserves dropped to $675.65 billion due to efforts to stabilize the rupee amid rising U.S. bond yields Source

• Alibaba Targets $5 Billion Bond Deal: The Chinese tech giant aims to raise funds through Asia’s largest corporate bond sale in 2024 Source

• TSMC Secures $6.6 Billion U.S. Investment: The funding will support semiconductor production facilities in Arizona, creating 6,000 jobs Source