Regional & International Economy

Indonesia, the world’s biggest supplier of edible oils, has decided to lift the ban on palm oil exports, a development that is expected to bring much-needed relief to the consumers in Bangladesh struggling to afford the cooking oil because of skyrocketing prices. Palm oil exports can resume from May 23, …

Amid rising demand in the country, the price of dollar surpassed Tk100 mark in the open market on Tuesday. Money exchange companies are experiencing an extreme dollar crisis. They are not being able to supply dollars according to the market demand. In the open market today (Tuesday), the US dollar …

The Cabinet Committee on Government Purchase (CCGP) today approved eight proposals, including 33.60 lakh MMBtu LNG import to meet the growing demand. The approval came from this year’s 16th meeting of the CCGP held virtually with Finance Minister AHM Mustafa Kamal in the chair. Briefing reporters virtually after the meeting, …

The National Board of Revenue (NBR) has been failing to achieve tax collection targets since the fiscal year of 2012-13 because of lofty goals set by the government and the absence of major reforms. In the current fiscal year, the tax administration is likely to miss the collection target once …

Bangladesh has fetched $1.04 billion from the exports of agricultural products during the July-April period of current 2021-22 fiscal year, posting a 26.26 percent growth over the same period of the last fiscal year. Export of agricultural products during the same 10-month of the last fiscal year was $824.59 million, …

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 …

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 …

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 …

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 …

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, …