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Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine as COVID-19 curbs in top crude importer China and expectations of more interest rate hikes spurred worries of a global economic recession and lower fuel demand. Brent crude futures fell $1.08, or 1.2 per …
Read More »Inflation to keep rising in Sep
Inflation will increase in the August-September period owing to the hike in the cost of living and the ongoing Russia-Ukraine war, but it may decline in October, said Planning Minister MA Mannan yesterday. “I earlier said that inflation will increase in August. Now is September. The inflation will also continue …
Read More »Manufacturer, agro industry feeling the pressure from inflation
Prices for manufacturers and food producers shot up to a near-record amount from a year ago due to a big jump in energy and other essential commodity prices in the international market. The volatility in the forex market is another key reason behind the surge of the producer price index …
Read More »Forex reserves below $38 billion despite tightened imports
Bangladesh’s forex reserves remain under stress despite curbing imports. This is happening due to the selling pressure of US dollars for import LCs, surge in individual demands to meet travel, medical treatment expenses, and tuition fees for Bangladeshi students at foreign universities. Bangladesh’s forex reserves will stand at US$38 billion …
Read More »Uber’s contribution to Bangladesh economy accounts for Tk 45b
The world’s largest ride-sharing company Uber contributed Tk 45 billion to Bangladesh economy in the year of 2021, said a report. UK-based policy research firm named Public First researched and compiled Uber’s 2021 Bangladesh Economic Impact Report and released the outcome on Sunday. The way as to how Uber helped …
Read More »BB’s currency investment hits a profit of 29,247C
Bangladesh Bank has shown a huge profit in foreign currency revaluation. In FY22, the central bank made a profit of nearly Tk26,300 crore from foreign currency revaluation which pushed its total profit up to Tk29,247 crore. It is more than five times higher than the Tk5,777 crore in FY21, according …
Read More »Bangladesh’s exports worth $4.60bn in Aug, up by 36.18%: EPB data
Despite the ongoing global crisis and inflation, Bangladesh exported over USD $4.6 billion worth of goods in August with a record 36.18 percent growth. August’s exports also exceeded the set target. The export target for the second month of the current financial year (2022-23) was $4.3 billion, Export Promotion Bureau …
Read More »BB questions 27 banks for exceeding forex limit in cards
Bangladesh Bank yesterday asked 27 banks to explain why they had allowed their credit card holders to spend dollars breaching a ceiling set by the foreign exchange rules. Some 71 credit card holders of the banks spent between $12,500 and $20,000, ignoring the annual central bank limit of $12,000. Md …
Read More »27 banks asked to explain breaching limit by credit cardholders
The Bangladesh Bank on Sunday asked 27 banks to explain as to why dollars above the allowed limit were spent abroad through 71 credit cards issued by the banks. BB executive director and spokesperson Md Serajul Islam told New Age that the BB found that 71 credit card users spent …
Read More »WB team in Ctg to discuss Bay Terminal project
An 11-member technical mission of the World Bank reached Chattogram port yesterday to discuss various aspects of proposed Bay Terminal, a mega project taken to enable the port accommodate larger ships. Earlier this year, the international lender expressed interest to give around $350 million in loan for breakwater construction and …
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