Current News

Bangladesh has set a target to raise five times the cotton production by 2030, introducing new varieties and expanding cultivation areas, since the country appeared as the second largest consumer of the industrial crop. ‘Cotton could be a major cash crop as we need to spend US$3billion every year for …

Retailers in Bangladesh are feeling the pinch as consumers have been buying less for the last few months because of the continuous increase in the prices of daily necessities and growing uncertainty. Bangladesh has been facing a major macroeconomic crisis since late February after the Russia-Ukraine war began, which sent …

Bangladesh needs to give more attention to the development of existing logistics infrastructure to achieve the targets set for export diversification, employment generation, and attracting foreign direct investment, said FBCCI President Jashim Uddin. He said the post-Covid pandemic situation and the Ukraine crisis have resulted in massive price hikes across …

Global economic growth prospects are confronting a unique mix of headwinds, including Russia’s invasion of Ukraine, interest rate increases to contain inflation, and lingering pandemic effects such as China’s lockdowns and disruptions in supply chains, according to the International Monetary Fund. In turn, the latest World Economic Outlook of the …

Commercial activities at an industrial estate of the Bangladesh Small and Cottage Industries Corporation (BSCIC) in Lalmonirhat are gradually winding down as it lacks a business-friendly atmosphere, according to entrepreneurs. Having started operations in 1990, the 15-acre BSCIC estate once housed 36 factories, of which just 11 remain as the …

The Bangladesh Bank on Tuesday raised the interest rate for loans from its export development fund (EDF) by 1 percentage point in a bid to make borrowing costlier and thus save foreign currencies. As per the new decision, the manufacturer-exporters will have to pay 4 per cent interest annually for …

The visiting IMF delegation and the Bangladesh authorities have reached a staff-level agreement to support Bangladesh’s economic policies with a 42-month arrangement of about US$ 3.2 billion under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) as well as of about US$1.3 billion under the Resilience and …

The government has fixed an all-time record target of producing 9,61,070 tonnes of winter vegetables from 1,08,065 hectares of land for farmers of Rangpur agriculture region during this Rabi season, reports BSS. Officials of the Department of Agricultural Extension (DAE) said a production target of 9,48,360 tonnes of winter vegetables …

The money sent by the Bhutanese abroad to the country has improved by over 130 percent at Nu 1.45 billion (B) or USD 18.29 million (M) in July this year compared with the same month last year. This, according to the Royal Monetary Authority’s latest monthly bulletin was an increase …

The banks have been allowed to adjust their overexposure to the capital market by the end of December 2023. The financial institutions division (FID) on Tuesday issued a circular giving consent to a proposal earlier made by the central bank. The FID said the banks had been given an extended …