Regional & International Economy

The Indian government on Wednesday reduced taxes on petrol and diesel in a bid to improve consumer sentiment, as Asia’s third-largest economy recovers from the shocks of severe lockdowns to control the spread of the coronavirus. The excise duty on petrol has been reduced by 5 rupees ($0.0671) per litre, …

The excise duty on petrol has been reduced by ₹5 per litre and on diesel by ₹10 per litre, the government said The Indian government on Wednesday reduced taxes on petrol and diesel in a bid to improve consumer sentiment, as Asia’s third-largest economy recovers from the shocks of severe …

The country’s export has fetched $4.73 billion in the month of October as single-month highest which is 60.37% higher than last year. The 60.37% year-on-year rise beat the $3.46 billion target set for the month, said a report released by Export Promotion Bureau (EPB) on Tuesday. Meanwhile, exports increased by …

The second wave of the pandemic, this year, pushed 3.24 crore people — 19.54 percent of the country’s population — into poverty in August, according to a new survey. Power and Participation Research Centre (PPRC) and the Brac Institute of Governance and Development (BIGD) came up with the findings at …

The United States and the United Arab Emirates on Tuesday used COP26 climate talks to launch efforts to channel funding into making agriculture resilient to climate change, as well as to cut its emissions. The farming industry, a major part of the U.S. economy, is already battling the effects of …

Exporters in Bangladesh have kept setting new records as merchandise shipment fetched $4.72 billion in October, the highest single-month receipts. The earnings were 60.37 per cent higher year-on-year, data from state-owned Export Promotion Bureau (EPB) showed yesterday. October’s receipts shattered the previous single-month highest export earnings posted in September when …

The Asian Infrastructure Investment Bank (AIIB) is set to provide $250 million loan for Bangladesh’s economic recovery from the fallout induced by the Covid-19 pandemic. Fatima Yasmin, secretary of the Economic Relations Division, and DJ Pandian, vice president for investment operations region 1 of AIIB, signed the loan agreement virtually …

The flow of inward remittances dropped further in October after money transfers through informal channels such as hundi resurfaced after a lull caused by the coronavirus pandemic. The money sent home by Bangladeshis working abroad amounted to $1.65 billion in October 2021, down by $79 million from the previous month’s …

IMF chief Kristalina Georgieva on Sunday urged world leaders gathered at the COP26 summit in Glasgow to show greater policy ambition, calling climate change a “grave threat to macroeconomic and financial stability.” Georgieva published a blog post titled “Climate Threat Demands More Ambitious Global Action” before heading to Glasgow, where …

The economic growth rates posted in recent years were revised downwards but the size of the economy expanded thanks to a new base year adopted by the Bangladesh Bureau of Statistics (BBS). For example, Bangladesh’s gross domestic product (GDP) grew at a pace of 8.15 per cent in fiscal 2018-19, …