Banking & Commodity

Commerce Minister Tipu Munshi said on Wednesday that the initiative has been taken to stock seven daily essentials and ensure adequate supply to keep their prices stable during the fasting month of Ramadan. The minister said this while speaking at the 5th meeting of the ‘Task Force on Review of …

Inflation may remain high in the financial year 2022-23 amid a supply shock in the wake of an increase in fuel and energy prices, which is not abating soon, the Bangladesh Bank forecasted in its quarterly report released on Wednesday. The BB in its report said, ‘Inflation is likely to …

The government has taken a fresh initiative to import rice amid concerns that the domestic procurement target during the ongoing Aman season might not be achieved. Yesterday, the government approved the import of one lakh tonnes of rice. It came during a meeting of the cabinet committee on government purchase …

The poor and low-income people suffered throughout the year 2022 due to surging prices of food and other essentials. A continued spiral of rice and atta prices in particular multiplied the sufferings of the poor and the low-income people as their buying capacity fell gradually. Market experts and economists said …

The import of essentials such as edible oil, chickpeas, dried peas and sugar fell in July-November as traders face difficulties in opening letters of credit (LCs) to purchase the items from international markets amid the US dollar shortage. This led traders and importers to warn that there might be a …

Vegetable cultivation is gaining popularity in Pabna as growing profits have spurred local farmers to expand their activities over the past few years, according to the Department of Agricultural Extension (DAE) in the district. “We once cultivated only mustard and other winter crops but now, we are cultivating carrot and …

The dollar selling rate of the Bangladesh Bank went up to Tk 100 for the first time as it sold $78 million greenbacks to banks yesterday to help settle import payments, a central bank official said. Since the beginning of this fiscal year in July, the central bank has so …

Four more shariah-based banks have been found to have taken emergency funds, which are usually taken during extraordinary circumstances, in an attempt at dressing up their balance sheet for last year. Named “lender of the last resort”, the facility has allowed the banks to borrow from Bangladesh Bank (BB) at …

The National Board of Revenue (NBR) may retain a VAT reduction of 5 per cent on edible oil for four more months to April 30 so that consumers do not feel the burden of the indirect tax on prices, said a senior official yesterday. “We are working to keep the …

Idris Ali, a farmer of Kartikpasha village in Patuakhali’s Dumki upazila, has been cultivating mung beans after harvesting Aman paddy for about 20 years now. At first, he would grow mung beans, known as moong daal in Bangladesh, simply to meet the needs of his own family. But after seeing …