Regional & International Economy

The Bangladesh Bank has decided to raise its dollar price by 1% to Tk 101, after economists called for market-determined exchange rates amid forex instability. The revised rate takes effect from the first week of February, officials said about the development coming in the wake of the dollar crisis. The …

Finance Minister AHM Mustafa Kamal said the approval of US$4.7 billion loan from the International Monetary Fund (IMF) proved that the basic areas of the country’s macroeconomic fundamentals are on solid foundation. “The country’s macroeconomic fundamentals are better than many other countries of the world,” he said. The Finance Minister …

Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China’s lifting of zero-Covid restrictions provides another boost. World growth has been bogged down by fallout from Russia’s invasion of Ukraine last year, economic downturns …

The 27th Dhaka International Trade Fair-2023 ended on Tuesday with businesses receiving export orders worth about $30.38 million (about Tk 300 crore) while goods worth Tk 100 crore were sold in the month-long exhibition at the Bangabandhu Bangladesh-China Friendship Exhibition Centre at Purbachal in Dhaka. A total of 47 businesses …

Bangladesh has built a solid partnership with European Union in the recent past and there are areas and opportunities to invest here, said Charles Whiteley, ambassador and head of delegation of the European Union (EU) to Bangladesh. During a visit to LafargeHolcim Bangladesh’s plant in Chhatak of Sunamganj recently, he …

The Commerce Ministry on Thursday requested the Bangladesh Bank to keep a quota of the US dollar to facilitate import of six essential commodities to ensure smooth supply of the goods during Ramadan later this year. The ministry’s move comes as a dip in imports of a number of essentials …

Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia’s war in Ukraine, drought and other factors drove up inflation and worsened hunger worldwide. The …

Of all the money spent behind the 4,500 types of goods imported through the Chattogram port in the first five months of fiscal year 2022-23, more than 51 per cent or Tk 104,600 crore was spent for only 20 products. The 20 include old ships and scrap, diesel, furnace oil, …

The financial account of the balance of payments (BoP) turned negative in the first five months of the current fiscal year, highlighting the challenges Bangladesh is facing in protecting its foreign currency reserves from depletion as funds outflows exceeded inflows. A financial account is a component of the BoP that …

Placement of funds from offshore banking operations (OBOs) with domestic banking units will continue to facilitate import payment, amid the forex crisis. The central bank Wednesday extended time for fund transfer from OBOs to facilitate settlement of import payments for capital machinery, industrial raw materials and imports by the government. …