Current News

Firms, both local and foreign, have put on hold their investments in Bangladesh owing to the surge in the dollar price, the energy crisis, the escalated cost of production, and the deep uncertainty caused by the Russia-Ukraine war. One of the key indicators of the investment situation is the import …

Experts and businesspeople emphasized the importance of focusing attention on product diversification, the use of cutting-edge technology, innovation, and bilateral partnerships with major export destinations to address the challenges that will arise as a result of Bangladesh’s graduation from the least-developed country (LDC) status. They also suggested skill development, higher …

Bangladesh Bank is seeking to curtail the power of the banks’ board of directors to waive interest on loans without consultations with the relevant departments. The central bank’s Banking Regulations and Policy Department on Wednesday issued a circular in this regard, reports UNB. It instructed the banks that in case …

After submission of a review appeal by state-owned BPDB to raise bulk power tariff, now distribution companies are likely to submit their respective proposals to raise retail power tariff, official sources said. According to a top level source at the Power Division, the Bangladesh Power Development Board (BPDB) will submit …

Bangladesh Bank (BB) has announced a refinancing scheme of Tk5,000 crore for farmers aiming to ensure food security. Under this scheme, farmers will be provided with loans at an interest rate of only 4 percent, according to a BB circular issued today. Besides, banks will be able to borrow from …

No use blaming only the global crunch, rather the government should kick-start structural reform in financial sector to remove anomalies to navigate oncoming crises, says an economic think-tank. The South Asian Network on Economic Modeling (SANEM) prepares a course of action that focuses remedying high default loans, preventing money laundering, …

Planning minister MA Mannan on Friday urged the agro processing businesses to use modern technology for ensuring quality of their food production targeting both local and international markets. He said this while addressing as chief guest at the inaugural ceremony of the 8th BAPA Foodpro International Expo 2022 arranged by …

Prime Minister Sheikh Hasina yesterday called for expediting the implementation of Kuwait’s proposal to set up a petroleum refinery in Bangladesh. She said this while Kuwait Ambassador to Bangladesh Faisal Mutlaq Aladwani called on her at her official residence Ganabhaban. PM’s Press Secretary Ihsanul Karim briefed reporters after the meeting. …

Oil extended declines on Thursday as geopolitical tensions eased slightly and rising numbers of Covid-19 cases in China added to worries over demand in the world’s largest crude importer. Poland and NATO on Wednesday said a missile that crashed inside NATO member Poland was probably a stray fired by Ukraine’s …

When the local currency began sliding against the US dollar amid the depletion of foreign currency reserves, textile and readymade garment exporters were supposed to gain from the development as usually happens. But the reality turned out to be different for them as they saw lower profits. Some even fell …