Two subsidiaries of Pran Group AMCL Pran and Rangpur Foundry Ltd (RFL) saw a fall in profits during the July-December period of fiscal 2022-23 due to various pressures resulting from ongoing global economic crises.
Now, businesses in Bangladesh are finding it difficult to open letters of credit (LCs) owing to banks' inability to provide the American greenback needed to finance imports and the central bank's restriction on non-essential imports. The stress seems to be intensifying with each passing day.
The latest hike of gas prices undoubtedly spells trouble for industries as they will try to shift the burden onto consumers by raising product prices, which will boomerang onto them by eating away at their competitiveness in international markets.
Alternative trading board for Bangladesh's stock market launched today to facilitate the secondary trading of non-listed companies, corporate bonds, open-ended mutual funds, and exchange-traded funds.