Bangladesh Bank (BB) has suspended the operations of five money changers for keeping dollars beyond the limit and other irregularities. The central bank also sent show-cause notices to 42 money changers for flouting its rules amid the global dollar crisis, BB Executive Director and Chief Spokesperson Md Serajul Islam said, …
Read More »Tk 1,760cr withdrawn from DSE in FY22
Exodus of the foreign portfolio investments from the country’s stock market has continued for the past four consecutive financial years with the foreign investors withdrawing Tk 1,760 crore in the past financial year 2021-22 amid volatility on the financial market, market manipulation, frequent policy changes and pressure on the exchange …
Read More »Wheat prices may cool off in local market
The price of wheat in Bangladesh may come down as its export from Ukraine has resumed following an agreement with Russia. Prior to the Russia-Ukraine war, 40 per cent of Bangladesh’s wheat import was made from the two countries. After a stalemate of about five months, the first ship loaded …
Read More »Realtors go slow in taking up new projects
Real estate companies in Bangladesh are cautiously taking up new projects as the war in Ukraine, the strain on foreign currency reserves, the dollar shortage, runaway inflation and higher construction costs have cemented worries that sales of flats might slow in the coming months. One of the realtors that have …
Read More »Incepta making cervical cancer vaccine
Incepta Vaccine is producing a vaccine safeguarding against cervical cancer at a Savar plant by importing the main ingredients. Papilovax safeguards against human papillomavirus (HPV), a very common group of viruses that do not cause any problems in most people but some of which can cause genital warts or cancer, …
Read More »July delivers more good news as exports rise
Merchandise exports from Bangladesh grew 15 per cent year-on-year to $3.98 billion in July, giving a much-needed breather to the country amid global uncertainty and foreign exchange crisis, official figures showed yesterday. The higher overseas sales came after imports fell 31 per cent to $5.5 billion and remittances went up …
Read More »365 MW power plant in Ghorashal goes out of order, Desco areas see 3-hr power cuts
Consumers in the areas under Dhaka Electric Supply Company Limited (Desco) experienced load shedding for over three hours on Saturday while those in the areas under Dhaka Power Supply Company Limited (DPDC) saw no power cuts. According to official sources, a forced shutdown of a power plant in Ghorashal Power …
Read More »India’s forex reserves at 20 month low
India’s foreign exchange reserves fell by $7.5 billion to $572 billion during the week ended July 15, according to data released by the Reserve Bank of India (RBI). Reserves fell to a 20-month low following heavy intervention by the central bank in the forex market as it sold dollars to …
Read More »Deposits in saving accounts rise despite inflation
Diminished confidence in the non-banking financial sector amid various irregularities, discouragement of savings certificates, stock market volatility and overall lack of investor confidence in the business sector are compelling people to deposit their hard-earned money in saving accounts. According to Bangladesh Bank data, savings deposits in banks have risen in …
Read More »Pharmaceuticals to become a $5bn industry in 5 yrs: Experts
Bangladesh’s pharmaceutical sector is expected to become an industry of $5 billion in the next five years, experts told a seminar organised by the Dhaka Chamber of Commerce and Industries (DCCI). Addressing the seminar titled ‘Export of pharmaceutical sector upon LDC Graduation: Strategies and Way Forward’ at the DCCI office …
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