Current News

The Asian Development Bank (ADB) and the government of Bangladesh today signed a loan agreement for $157 million to mitigate flood and riverbank erosion risks in Bangladesh. The funding will also strengthen climate resilience through structural and nonstructural interventions, and promote knowledge-based solutions along the Jamuna, Padma, and Ganges rivers …

The price for May 2022 futures contracts for Brent oil increased 5.83% on London’s ICE, to $111.09 per barrel as of 05:46 Moscow time on Wednesday. As of 05:52 Moscow time, the growth slowed down to 5.77%, to $111.03 per barrel. The last time Brent crude price exceeded $111 per …

Rosatom, the contractor of the Rooppur Nuclear Power Plant, dismissed the notion of potential delays in the construction of the project amid Russia’s war on Ukraine even though some Russian banks might be excluded from the SWIFT messaging system. “No disruption is foreseen in any of the commitments and work …

The textile market in Bangladesh is growing at a faster clip as annual sales have nearly doubled to $9 billion in a span of five years riding on the production of diversified fabrics and the growing consumption of middle-income people. Even five years ago, the sales were worth nearly $5 …

Microfinance institution Shakti Foundation in collaboration with Delivery Tiger, a logistics platform, launched ‘e-Loan’ product for online entrepreneurs. The ‘e-Loan’ allows small and medium online retailers to get loans of up to Tk 500,000 within five to seven working days of application, according to a media release received on Wednesday. …

Remittances declined 16 per cent year-on-year to $1.49 billion in February, the lowest in the past 22 months, creating a further risk of widening the trade imbalance in the face of surging import bills. The incoming remittance in February also fell 12 per cent compared to the previous month, according …

The government is expected to trim the development budget by 7.88 per cent to Tk 207,550 crore for the current fiscal year because of the sluggish pace of implementation by public agencies. The revised outlay is 92 per cent of the total allocation of Tk 225,324 crore, the steepest cut …

The Cabinet on Sunday gave its approval to the draft “Export Policy 2021-24” with a target of $80 billion export for fiscal year 2023-24. The approval was given on Monday in the Cabinet meeting with Prime Minister Sheikh Hasina in the chair. The draft policy was approved on January 12 …

Crude oil prices and safe havens surged Monday while the ruble and European equities sank after world powers imposed fresh sanctions on Russia over its invasion of Ukraine, fanning fears about a possible global energy crisis that could further stoke inflation. Brent crude again topped $100 per barrel and Europe’s …

Two Bangladeshi power companies — United Group, Confidence Group— have shown interest in investing in Nepalese hydropower as the government has opened up to electricity import from the Himalayan country. “We have sought current payment security and fluctuation security on power tariff initially,” a top official of one of the …