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Members of the Directorate of National Consumer Rights Protection (DNCRP) have seized 2,100 liters of soybean oil in a raid at three shops in Muktarpur and Rikabibazar areas of Munshiganj Sadar upazila. The shopkeepers were selling the edible oil openly to consumers at Tk 200 per litre instead of the …
Read More »ADB to prioritise assistance for Bangladesh’s LDC graduation
The Asian Development Bank (ADB) will prioritise its assistance to Bangladesh for graduation from LDC, climate change and sustainable development goals. This is to help the country achieve its goal of becoming an upper middle-income country by 2031 and a high-income country by 2041. ADB Vice-President Shixin Chen made the …
Read More »8 companies sued for market manipulation
The Bangladesh Competition Commission filed cases against eight edible oil companies on Wednesday for manipulating the key cooking ingredient’s local production and supply. The companies are: City Edible Oil Limited (Teer), Bangladesh Edible Oil Limited (Rupchanda), Meghna and United Edible Oils Refinery Limited (Fresh), Bashundhara Oil Refinery Mill (Bashundhara), Shabnam …
Read More »Bangladesh 7th highest remittance recipient: World Bank
Bangladesh has retained its position as the recipient of the seventh highest amount of money transferred by migrant workers among 10 top recipient nations in 2021. This year, however, the country may continue to experience a meagre growth in remittance inflow of only 2 per cent this year. The World …
Read More »Economy to feel pinch from unproductive public debt
Bangladesh is still in a suitable position in terms of public debt, but it may be pushed to yellow rating after FY25 as spending on high value foreign debt is rising on non-productive sector, a new study shows. Both public and private sector debt from external sources have increased in …
Read More »Reducing power generation cost: BPDB for lifting VAT, duties on HFO
Bangladesh Power Development Board (BPDB) has sought to withdraw import duties and Value Added Tax (VAT) on imported furnace oil for electricity generation. This aims to lower the energy tariff due to volatility in High-Speed Furnace Oil (HFO) prices in the international market over Russia-Ukraine war. HFO tariff increased to …
Read More »DSE turnover crosses Tk 12b-mark
Daily trade turnover on Dhaka Stock Exchange (DSE) crossed Tk 12 billion-mark on Monday, after two and a half months, as buoyant investors put fresh funds on stocks anticipating positive momentum ahead. Turnover, a crucial indicator of the market, stood at Tk 12.08 billion on the country’s premier bourse, in …
Read More »Hasina urges US companies to boost investment in Bangladesh
Prime minister Sheikh Hasina on Tuesday said that Bangladesh needed enhanced investment from its friendly countries, especially from the USA, as it aspires to become a developed and prosperous country by 2041. ‘Bangladesh has been recommended to graduate from the LDC in 2026. We are aspiring to become a developed …
Read More »Taka slides further against dollar
The country’s foreign exchange market has remained volatile even though the Bangladesh Bank has depreciated the taka against US dollars four times this year. The latest devaluation came yesterday when the BB depreciated the inter-bank exchange rate by Tk 0.25 to Tk 86.70 per USD. Because of the currency devaluation, …
Read More »Exports booming despite gloomy global outlook
Earnings from merchandised exports from Bangladesh soared 51.18 per cent year-on-year in April to $4.73 billion helped by higher shipment of garments, home textiles and footwear, official figures showed yesterday. The higher flow of export receipts continues despite persisting global uncertainties emanating from the Russian-Ukraine war, dragging supply chain disruptions, …
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