Banking & Commodity

The government has fixed an all-time record target of producing 9,61,070 tonnes of winter vegetables from 1,08,065 hectares of land for farmers of Rangpur agriculture region during this Rabi season, reports BSS. Officials of the Department of Agricultural Extension (DAE) said a production target of 9,48,360 tonnes of winter vegetables …

The banks have been allowed to adjust their overexposure to the capital market by the end of December 2023. The financial institutions division (FID) on Tuesday issued a circular giving consent to a proposal earlier made by the central bank. The FID said the banks had been given an extended …

The government and banks must take measures to encourage expatriates to send money through the banking channel in a bid to boost remittance inflow, experts said at discussion on Wednesday. The seminar titled ‘Remittance through legal channel: prospects of digital platforms’ was organised by the Economic Reporters’ Forum at the …

Transactions through mobile financial services (MFS) dropped for a second month consecutively in August as the festival season started to flatten amid the economic downturn. The volume of transactions declined by Tk 1,723 crore to Tk 87,446 in August compared to Tk 89,169 crore a month earlier. MFS transactions had …

Sugar prices have started rising afresh to hit a record high of as much as Tk 125 per kilogramme at retail in the two main cities of Bangladesh, namely Dhaka and Chattogram, further straining the wallets of consumers as inflation continues to bite. Market prices data compiled by the state-owned …

British International Investment (“BII”), the UK’s development finance institution and impact investor, announces a $50 million loan to Pubali Bank Limited (“Pubali”), a leading universal bank in Bangladesh. The loan facility will help to increase climate-related lending and boost climate mitigation projects across Bangladesh, reads a press release. Bangladesh has …

Consumers were still unable to get relief from rising prices in the capital’s kitchen markets, forcing them to be extremely thrifty when purchasing essential commodities. Volatility in the sugar market has not stopped yet, while prices of chicken and eggs also increased in the past week. Adding to that, prices …

President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md Jashim Uddin today said that domestic industries would fall in difficulties if the current lending rate is increased. He said this while speaking at ‘ERF’s Dialogue’ as the chief guest, organized by the Economic Reporters’ Forum (ERF), …

Md Shafiqul Islam, a potato trader in Dinajpur, kept around 2,000 bags of potatoes in cold storage this year in hopes of recovering his losses from the previous season. However, he now finds himself deeper in the hole as current market prices for the spud have dipped below the previous …

The Bangladesh Bank has decided to raise the interest rate on consumer loans to 12 per cent from 9 per cent after economists have long called for the withdrawal of the cap on all loans to contain inflation. As per a central bank instruction aimed at supporting the fast-growing economy, …