Bangladesh’s Workforce Gains With New Wage Structures

• ADB approves USD 600mn for Bangladesh to drive structural reforms, improve public investment efficiency, and foster private sector growth Source

• IMF offers an additional USD 1bn loan to support Bangladesh's reform initiatives to aid reserves and address current account deficits Source

• Exports rebound with PMI at 62.2 in November, reflecting agriculture, manufacturing, and services growth Source

• Remittance jumps to over USD 616mn in the first week of December, marking a strong start for the month Source

• Bangladesh’s imports rebound for a third month, driven by rising production in export-focused industries Source

• RMG workers secure a 9% annual wage hike, boosting earnings in the export-driven garment sector Source

• Radiant Pharma acquires majority stakes in Novartis Bangladesh, enhancing export capabilities Source

• Prothoma Power to invest USD 12.24mn in Bangladesh EPZ, creating 600 local jobs Source

• Bangladesh retains the top position in population outflows, highlighting migration for better opportunities abroad Source

• Bangladesh’s remittance dollar rate rises as demand surges amid limited central bank dollar sales Source

Economy

• Revised Budget May Be USD 4.2bn Smaller: Bangladesh’s 2024-25 national budget might be reduced by USD 4.2bn, with cuts expected in the Annual Development Program (ADP) due to conditions from the IMF and revenue shortfalls Source

• Inflation Hits 11.38% in November: Food inflation surged to 13.8% in November, driven by import delays and higher costs of raw materials, despite government measures to tame inflation Source

• Economic Census 2024 Kicks Off: The fourth Economic Census aims to evaluate economic structural changes and provide data for industrial development Source

• Bangladesh’s Economy Expanded in November: The Purchasing Managers' Index (PMI) climbed to 62.2 in November, driven by agriculture, manufacturing, and services Source

Business

• Prothoma Power Invests USD 12.24mn in EPZ: The Chinese firm will manufacture battery plates, generating 600 local jobs annually Source

• Meghna Group Secures USD 20mn Loan: An energy-efficient flour milling plant is planned to produce 660,000 tons of wheat annually, cutting electricity use by 37% Source

• Radiant Pharma Acquires Majority Stake in Novartis: The acquisition will enhance Radiant’s capacity and exports, with financing from Standard Chartered Bank Source

• ADB Approves USD 600mn for Bangladesh: The loan will support reforms in resource mobilization, investment efficiency, and private sector development Source

Trade & Commerce

• Exports Show Turnaround in October: Bangladesh's imports rebounded for a third straight month, signaling recovery in export-oriented industries, with overall imports up by 2.04% this fiscal year Source

• Minimum Wage Structures for 15 Sectors: Workers in industries such as private clinics, IT parks, and dairy farms will now benefit from formal wage frameworks introduced by the government Source

• RMG Workers Get a 9% Annual Wage Hike: Starting in January, garment workers will receive a 9% wage increase, boosting earnings in Bangladesh’s key export industry Source

International

• US Job Market Rebounds in November: Job creation increased by 56,000 over prior estimates, despite hurricanes and strikes, with the unemployment rate rising to 4.2% Source

• Chinese Exports Grow Slowly Amid Economic Reforms: Exports rose 6.7% in November, but imports continue to shrink, pushing policymakers toward economic reforms Source

• ECB to Cut Rates Amid Eurozone Struggles: The European Central Bank is set to cut interest rates again to boost lending and business investment Source