Regional & International Economy

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 …

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 …

Oil prices rose more than $2 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to cut output and support prices at a meeting later in the day. Brent crude futures had risen $2.42, or 2.6 per cent, to $95.44 a barrel by 0641 GMT …

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 …

Bangladesh bagged $4.60 billion through exports in August, registering a 36.18% year-on-year (Y-o-Y) growth, according to recent data published by the Export Promotion Bureau (EPB). At the same period last year, the country fetched $3.38 billion in export earnings. Moreover, according to the EPB data, the country earned export earnings …

Country’s economy has revived from setback as major indicators – export, remittance and private sector credit flow saw upward trend in the first two months of the current fiscal year. Bangladeshi companies exported goods and services worth $ 3.98 billion in the first month of the current fiscal year 2022-23, …

The discontinuation of cash incentives for the country’s export-oriented manufacturing industries will hamper competitiveness for a while during the post-LDC period, but won’t put a long-term impact on exports, said a study group at a workshop on Saturday. Arfin Ara Begum, director general of the monitoring cell under the finance …

A committee yesterday suggested the government come up with alternatives to cash incentives on export receipts since Bangladesh will not be allowed to support its exporters in the current form after its graduation to a developing country. The observation was made at a national workshop of the LDC graduation sub-committee …

Expatriate Bangladeshis sent $2.04 billion remittances in August, which was 12.6% higher than the corresponding month of the previous year. Wage earners had sent $1.81 billion remittance to the country in the same month last year. The country received $2.10 billion from the migrants overseas in July, which was the …

Merchandise exports posted a whopping 38.09 per cent year-on-year growth in August to bring home $4.67 billion, handing more breathing room to Bangladesh struggling to bring its macroeconomy under control, official figures showed yesterday. This was the sharpest pace of growth in the last five years, according to the provisional …