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Bangladesh Bank (BB) has suspended the operations of five money changers for keeping dollars beyond the limit and other irregularities. The central bank also sent show-cause notices to 42 money changers for flouting its rules amid the global dollar crisis, BB Executive Director and Chief Spokesperson Md Serajul Islam said, …

The price of wheat in Bangladesh may come down as its export from Ukraine has resumed following an agreement with Russia. Prior to the Russia-Ukraine war, 40 per cent of Bangladesh’s wheat import was made from the two countries. After a stalemate of about five months, the first ship loaded …

Real estate companies in Bangladesh are cautiously taking up new projects as the war in Ukraine, the strain on foreign currency reserves, the dollar shortage, runaway inflation and higher construction costs have cemented worries that sales of flats might slow in the coming months. One of the realtors that have …

Incepta Vaccine is producing a vaccine safeguarding against cervical cancer at a Savar plant by importing the main ingredients. Papilovax safeguards against human papillomavirus (HPV), a very common group of viruses that do not cause any problems in most people but some of which can cause genital warts or cancer, …

Merchandise exports from Bangladesh grew 15 per cent year-on-year to $3.98 billion in July, giving a much-needed breather to the country amid global uncertainty and foreign exchange crisis, official figures showed yesterday. The higher overseas sales came after imports fell 31 per cent to $5.5 billion and remittances went up …

India’s foreign exchange reserves fell by $7.5 billion to $572 billion during the week ended July 15, according to data released by the Reserve Bank of India (RBI). Reserves fell to a 20-month low following heavy intervention by the central bank in the forex market as it sold dollars to …

Consumers in the areas under Dhaka Electric Supply Company Limited (Desco) experienced load shedding for over three hours on Saturday while those in the areas under Dhaka Power Supply Company Limited (DPDC) saw no power cuts. According to official sources, a forced shutdown of a power plant in Ghorashal Power …

Diminished confidence in the non-banking financial sector amid various irregularities, discouragement of savings certificates, stock market volatility and overall lack of investor confidence in the business sector are compelling people to deposit their hard-earned money in saving accounts. According to Bangladesh Bank data, savings deposits in banks have risen in …

Bangladesh’s pharmaceutical sector is expected to become an industry of $5 billion in the next five years, experts told a seminar organised by the Dhaka Chamber of Commerce and Industries (DCCI). Addressing the seminar titled ‘Export of pharmaceutical sector upon LDC Graduation: Strategies and Way Forward’ at the DCCI office …

Despite a 14% growth in revenue collection by the National Board of Revenue (NBR) in the recently-concluded fiscal year 2021-22, the revised target was missed by Tk30,000 crore. The collection target was Tk330,000 for FY22. They collected more than Tk300,100 crore revenue from income tax, value added tax (VAT) and …