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Bangladesh Bank (BB) has allowed banks to maintain accounts in Yuan with their corresponding branches abroad to settle cross border transactions in Chinese currency. “To bring wider scope, it has been decided that Authorized Dealers (ADs) may maintain accounts in Chinese Yuan Renminbi (CNY) with their correspondents or branches abroad …
Read More »FBCCI team off to US to attend UN General Assembly
A high-level business delegation of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) left Dhaka today for the United States (US) to attend the 77th General Assembly of the United Nations (UN) as the entourage of Prime Minister Sheikh Hasina. FBCCI President Md Jashim Uddin is leading the …
Read More »Weekly market review: Profit taking halts four-week rally
Stocks slipped into the red in the outgoing week to Thursday, snapping a four-week gaining streak, as jittery investors rushed to lock in profits from large-cap issues that witnessed price surge. Of the five trading days this week, three sessions suffered losses while two others managed to close marginally higher …
Read More »50th Anniversary: Bangladesh, Thailand ample opportunities to increase economic cooperation
Speakers at a seminar on Friday (Sept 16) said there are ample opportunities to increase economic cooperation between Bangladesh and Thailand Addressing a seminar on “Trade and Investment Opportunities” was organised by the Ministry of Foreign Affairs of Thailand, they also highlighted the socio-economic development of Bangladesh. The seminar was …
Read More »Prices of eggs, vegetables go up
Prices of eggs, vegetables and sugar went up on the kitchen markets in Dhaka city over the week ending Friday. Traders said that the prices of eggs continued to rise on the city markets for the last two weeks as wholesalers increased the prices of the item. They said that …
Read More »Trade remains halted at Benapole port due to Vishwakarma puja
Trade between Bangladesh and India via the Benapole land port remained suspended on Saturday, with the neighbouring country celebrating Vishwakarma puja. However, movement of people via the land port remained as usual, officials said. Kartik Chakrabarty, general secretary of the Petrapole C and F Agent Staff Welfare Association, said that …
Read More »Virtual currencies not allowed
Bangladesh Bank yesterday reiterated that it does not allow holding or trading of any kind of virtual coin or cryptocurrency in the country. It has asked all to refrain from trading any kind of virtual currency as the definition of “currency” provided by the Foreign Exchange Regulation Act, 1947 does …
Read More »Garment export to Japan rises 26pc in Jul-Aug
Riding on strong demand for apparel items made in Bangladesh, the shipment of garments to Japan, a promising Asian export destination, rose 25.81 per cent year-on-year to $217.53 million in July-August. The receipts in the first two months of the previous fiscal year were $172.91 million, according to data from …
Read More »Sweater exporters in hot water
Sweater suppliers in Bangladesh are witnessing relatively a dull season because of a longer-than-usual dry spell in European countries and the higher cost of living fueled by the Russian-Ukraine war. Owing to climate change, some parts of the continent, home to more than 60 per cent of garments exported from …
Read More »Increasing number of banks have a capital shortfall
The number of banks facing a capital shortfall has risen in the second quarter (April-July) of 2021 largely due to loan defaults. According to the latest data from the central bank, the total capital shortfall of 12 banks stood at Tk29,531.35 crore. In the previous quarter, the capital shortfall was …
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