Banking & Commodity

The Bangladesh government is determined to end all problems related to shrimp production and its exportation, Fisheries and Livestock Minister SM Rezaul Karim has said. “These problems at shrimp hatcheries will eventually be resolved as the Bangladesh government is giving utmost importance to the development of the fisheries sector,” the …

Flower growers look to turn around from the pandemic-induced losses by making higher sales as demand is rising ahead of Valentine’s Day, Pahela Falgun, the first day of the spring season, and International Mother Language Day. For example, farmers in Jhenaidah say they will sell flowers worth Tk 3.5 crore …

Bangladesh Bank has directed the banks to deduct tax at a fixed rate from the income of a non-resident person or organization for outward remittance in exchange of service. The central bank’s instruction was accompanied with a letter containing instructions of the National Board of Revenue (NBR) to cut tax …

Twenty-five banks are suffering from a collective default loan of Tk 974.4 crore after several non-bank financial institutions (NBFIs) failed to pay back funds despite maturity, in another sign of feeble state in the financial industry. The fragility of the NBFI sector came to the fore three to four years …

Cotton production in Bangladesh has been low as farmers prefer other cash crops to the white fibre, completely missing out on at least a $3 billion domestic market. The country managed to produce only 1.77 lakh bales of cotton last year, which was insufficient to meet the demand of even …

The Bangladesh Bank should raise the private sector credit target and review other major goals by conducting the mid-term review of the monetary policy statement for 2021-22, said analysts. They also urged the central bank to withdraw the lending cap and depreciate the taka further against the US dollar in …

Bangladesh has disbursed 59 per cent of the total credit support unveiled by the government to protect businesses, the economy and the poor since the coronavirus pandemic hit the country more than one-and-a-half years ago. The government was swift in its response when it came to introducing stimulus packages after …

A staggering 7,167 bankers lost jobs between April 2020 and September last year as private commercial banks desperately tried to cut operational costs amid a business slowdown brought on by the coronavirus pandemic. The employees, who were either fired or forced to resign, represented nearly 6 per cent of the …

The price of rice is increasing despite a record production and the highest stock in silos, Agriculture Minister Muhammad Abdur Razzaque said on Sunday. Since rice is the staple food the country will have to further boost the grain production at any cost, the minister said at a meeting to …

Country’s sugar refiners have sought waiver of existing 20 per cent regulatory duty (RD) on raw sugar import, aiming to keep the sweetener prices stable during the upcoming Ramadan. They also have requested the government to make the facility available until the end of the current fiscal year that will …