Withdrawals outpaced investments in the first half of FY23

The Dhaka Stock Exchange (DSE) saw a turnover of Tk 296 crore, the lowest in two and a half months, as cautious investors sold shares to avoid further losses, marking a 6.83% decrease from the previous day. The benchmark DSEX index fell by 49.75 points (0.93%) to 5,316, while the DSES and DS30 indices also declined.

In the first quarter of fiscal year 2024-25, government food distribution under various social protection schemes fell by 14% year-on-year, primarily due to a significant reduction in grain transfers under the Food for Work (FFW) and Food Friendly Programme (FFP).

The interim government has opted not to proceed with an agreement with US-based Excelerate Energy for a new regasification plant for liquefied natural gas (LNG), following the cancellation of a similar deal with Summit Group for a third floating storage and regasification unit (FSRU).

The World Bank (WB) forecasts that Bangladesh's inflation will moderate to 9% by the end of FY25, down from 9.7% in FY24. However, economic growth is projected to slow to 4%, largely due to political unrest and uncertainty affecting the first quarter of FY25.

Dhaka Electric Supply Company Ltd (Desco) reported a loss of Tk 505.7 crore for FY24, its second consecutive year in the red. The loss per share improved to Tk 12.7 from Tk 13.61 in FY23, thanks to higher distribution revenue and lower foreign exchange losses.

Bangladesh's steel production has sharply declined in September compared to last year, driven by a slump in demand and price reductions amid political unrest and uncertainty. Major suppliers like Bangladesh Steel Re-Rolling Mills Ltd (BSRM) report significant losses, with many mills shutting down their furnaces. Public construction and government projects, which account for about 67% of steel demand, have halted since the political changeover on August 5.