Current News

Bangladesh Investment Development Authority (BIDA) is providing 67 services to investors through its One Stop Service (OSS), said its chief yesterday. At present, 23 organisations are involved in these processes, said Bida Executive Chairman Lokman Hossain Miah at a meeting with Business Initiative Leading Development (BUILD) Chairperson Nihad Kabir at …

The Commerce Ministry on Thursday requested the Bangladesh Bank to keep a quota of the US dollar to facilitate import of six essential commodities to ensure smooth supply of the goods during Ramadan later this year. The ministry’s move comes as a dip in imports of a number of essentials …

Bangladesh Bank again chose to relieve banks from the liabilities of default loan recovery by finding a solution to the rising number of default loans and pending cases with the Artha Rin Adalat (money loan court) in the country. In a recent directive, the central bank increased banks’ loan write-off …

Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia’s war in Ukraine, drought and other factors drove up inflation and worsened hunger worldwide. The …

Public hearing on retail power tariff hike proposals will begin at 10 am on Sunday in the city’s BIAM Auditorium. Bangladesh Energy Regulatory Commission (BERC) will hold the hearing on the proposals submitted by 6 state-owned power distribution entities to raise about 20 percent power tariff at the retail level. …

The maiden tax amnesty offered by the government to bring back laundered money home has seemed to have brought no result since none secured the facility in the first six months of the current fiscal year. In the past, governments offered opportunities to whiten untaxed money generated in the country. …

Branches of banks in Bangladesh have gone past the 11,000-mark for the first time despite expanding digitalisation in the financial sector, central bank data showed. Scheduled banks had 11,030 physical branches in October, according to the Bangladesh Bank review of e-banking and e-commerce statistics. Scheduled banks facilitate financial transactions by …

Of all the money spent behind the 4,500 types of goods imported through the Chattogram port in the first five months of fiscal year 2022-23, more than 51 per cent or Tk 104,600 crore was spent for only 20 products. The 20 include old ships and scrap, diesel, furnace oil, …

The financial account of the balance of payments (BoP) turned negative in the first five months of the current fiscal year, highlighting the challenges Bangladesh is facing in protecting its foreign currency reserves from depletion as funds outflows exceeded inflows. A financial account is a component of the BoP that …

Placement of funds from offshore banking operations (OBOs) with domestic banking units will continue to facilitate import payment, amid the forex crisis. The central bank Wednesday extended time for fund transfer from OBOs to facilitate settlement of import payments for capital machinery, industrial raw materials and imports by the government. …