Banking & Commodity

Bangladesh has extended the repayment period of the loan it had given to Sri Lanka by six more months as the Island nation continues to struggle to fix its debt crisis, officials say. Earlier, the central bank of Sri Lanka had sought time from Bangladesh to make the first instalment …

Yesterday’s blaze at Dhaka New Super Market has severely affected trade of nearby markets, that too with just a week to go before Eid-ul-Fitr. Eid-ul-Fitr is one of the biggest religious festivals in Muslim-majority Bangladesh and the volume of clothing sales increases severalfold ahead of the festival. Housing thousands of …

Bangladesh Bank (BB) has reset the ceiling of the loans in US dollars from the Export Development Fund (EDF) to manufacturers and exporters for input procurements. The central bank took the decision implementing the guidelines of the International Monetary Fund (IMF) with a view to stopping a further fall in …

The Bangladesh Bank on Sunday reduced ceiling on the US dollar loans from its Export Development Fund to manufacturers and exporters by $5 million with the aim of lowering pressure on reserves. The central bank issued a circular in this regard on Sunday. According to the circular, the ceiling has …

The commerce ministry’s Export Competitiveness for Jobs (EC4J) project, which aims to expand Bangladesh’s export basket, has once again failed to meet its deadline and become costlier due to slow implementation. The Tk 941 crore project has seen only 25 per cent progress following its previous six-year completion schedule, according …

Although soybean oil prices have dropped in the international market, consumers in Bangladesh are yet to reap the benefit of this reduction as domestic prices remain the same. Globally, soybean oil was sold at $1,236 per tonne in the January-March period of the current calendar year, down 26 per cent …

Farmers are delighted after producing an all-time record of 26,85,282 tonnes of potato and getting higher prices this season in Rangpur agriculture region. Market prices of potato are higher this time following various pragmatic steps taken by the government to increase its export to Russia, Singapore, Malaysia, the United Arab …

Wheat imports by the private sector have continued to remain low in Bangladesh than the last fiscal year as businesses are facing persisting difficulties in opening letters of credits owing to the dollar shortage at banks. Businesses brought 14.15 lakh tonnes of wheat between July 1 to March 9 in …

Jewellers on Tuesday demanded a ten-year tax holiday for local gold refineries to boost the industry of the precious metal. At a pre-budget press conference, the Bangladesh Jeweller’s Association (Bajus) wanted the government to provide the businesses with a 50% cash incentive for a minimum 20% value addition to promote …

The proposed Bank Company (Amendment) Act-2023 still falls short in some crucial ways necessary to establish accountability and good governance in the banking sector, according to experts. The draft of the amended act includes a willful defaulter clause, which economists welcome. Under the clause, such willful defaulters can be subjected …