Current News

Bangladesh’s cotton import may drop to 8 million bales in marketing year 2022-23 which began in August, said the US Department of Agriculture (USDA) at the end of last week. This will be resulting from high international raw cotton prices, reduced garment production due to a domestic power shortage and …

Exports and domestic sales of Bangladesh’s synthetic and athletic footwear sector have been witnessing some of the highest growths among those of other sectors, according to a market assessment of Bangladesh Investment Development Authority (Bida). Exports have been increasing at an average annual rate of about 20 per cent over …

Jute prices in Bangladesh are currently lower than what they were at the same time last year due to declining exports of twine and yarn made from the natural fibre, according to growers and traders. Prices of raw jute have fallen by roughly 26 per cent year-on-year to as low …

Commerce Minister Tipu Munshi today said the government eyes US$10 billion exports in leather and leather goods in 2030. “Bangladesh’s potential export product is leather. There is a lot of scope for development and export of leather industry. Currently, the export of leather sector is more than $1 billion. In …

According to the recent Bangladesh Bureau of Statistics (BBS) data, around 1.61 lakh hotels and restaurants have started operating in the country in the last 11 years. In 2009-10, the number of hotels and restaurants was 2.75 lakh. With a 58.46% growth, the number is now 4.36 lakh. The BBS …

Due to the large volume of airline passengers during the months of July through October of the current fiscal year, the travel tax increased by 143.15% Year-on-Year (YoY). Data analysis shows that during the first quarter of FY23 when the National Board of Revenues (NBR) had only set a target …

State Minister for Power, Energy and Mineral Resources Nasrul Hamid said on Wednesday that geo-scientific data should be used in developing sustainable infrastructures. “There must be a reflection of the geo-scientific data in developing area-based master plan”, he said while addressing a seminar on the findings of a project titled: …

The Bangladesh Bank has sanctioned Tk 5,250 crore in liquidity support in the past two days after it has introduced a financial instrument named Islamic banks liquidity facility for the Shariah-based banking system in Bangladesh. The central bank issued Tk 4,000 crore in liquidity support to five banks on Tuesday …

Nagad, the mobile financial service of the Bangladesh Post Office, has come out as one of the top VAT payers in the country in only three years since it embarked on its journey. The National Board of Revenue (NBR) has already declared Nagad Limited as the third highest VAT-paying company …

Bangladesh has again demanded the reinstatement of the Generalised System of Preferences (GSP) of the US at a 6th Trade and Investment Cooperation Forum Agreement (Ticfa) meeting held in Washington on Tuesday. Both countries affirmed the importance of Bangladesh’s efforts towards reforming labour laws and discussed Bangladesh’s interest in the …