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 …
Read More »Fund transfer among MFS distributors to become easy
Mobile financial service providers in Bangladesh would be able to launch an inter-distributor cash management system to facilitate e-money and cash funds transfer during weekends and public holidays. The Bangladesh Bank yesterday issued a circular to this effect. Distributors of MFS providers face difficulties in securing e-money from banks against …
Read More »TexTIMe seminar held on sustainability amid ongoing uncertainties
The latest TexTIMe (Textile Today Innovation Meets) episode—organized by Textile Today Innovation Hub and sponsored by the largest dyestuff company in the Indian subcontinent Colourtex— shed light on the uncertain global scenario to discover the course of action remaining sustainable in the new context. Engaging industry leaders and strategy makers …
Read More »South Korea doubles recruitment quota for Bangladeshis
South Korea, a vital job market for Bangladeshi workers, doubled the quota for Bangladeshis based on an increased demand for foreign workers post-Covid. The East Asian country confirmed their recruitment plan to the Bangladesh Overseas Employment and Services Limited (Boesl) in July this year, officials said. It would hire 6,000 …
Read More »Selected vendors to collect VAT machine data for NBR
As a step to raise internal revenue collection, the National Board of Revenue (NBR) has again taken the initiative to install Electronic Fiscal Device (EFD) and Sales Data Controller (SDC) or value-added tax (VAT) machines in different types of business entities, such as department stores. The cabinet committee on economic …
Read More »August exports witness 36% growth
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 …
Read More »Bangladesh fares well in 3 indicators
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, …
Read More »End to cash subsidy won’t put long-term effect on exports: study
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 …
Read More »Stocks open week with sharp rise
higher on Sunday as the buoyant investors continued their buying spree on major sector shares amid high expectations. Following the previous week’s upward trend, DSEX, the prime index of the Dhaka Stock Exchange (DSE), climbed 62.08 points or 0.95 per cent to stand at 6,570, after the first two hours …
Read More »Surface water for irrigation the best solution to drought
The use of surface water has become the ultimate solution for irrigating croplands across the country as depleting underground reserves amid lesser rainfall and higher fuel costs have left farmers with little option. The government increased the price of diesel to Tk 114 from Tk 80 on August 5, making …
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