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Sri Lanka was handed temporary relief from energy shortages and rolling blackouts on Wednesday with a $500 million loan from India to finance urgent oil purchases for the cash-strapped nation. The island’s economic woes have left thermal power generators unable to keep the lights on and disrupted transport networks, as …

Earnings from merchandise exports from Bangladesh surged 41.13 per cent year-on-year to $4.85 billion in January, the second-highest single month receipts, on the back of rebounding garment shipments. Shipments soared 30.34 per cent year-on-year to $29.54 billion in the first seven months of the current fiscal year, data from the …

Implementation of the Bangladesh, Bhutan, India and Nepal (BBIN) motor vehicle agreement will enable the adoption of a sub-regional protocol for a cost-effective, efficient and seamless multimodal transport system, according to speakers at a webinar. This will lead to a significant decrease in the cost of doing business and eventually …

Opec+ will likely stick to existing policies of moderate output increases on Wednesday, five sources from the producers’ group said even as it expects demand to rise to new peaks this year and as oil prices trade near their highest since 2014. The group, which comprises of the Organization of …

Benapole Customs House has recorded a 29.78 per cent growth in revenue earning in the first seven months of FY2021-2022, up from 19.48% during the corresponding period last year despite Covid-19 disruptions, customs sources said. According to the sources at Benapole Customs House, revenue earning from trading along this border …

Expatriate Bangladeshis sent $1.7 billion in foreign exchange or remittances to the country on January this year, Bangladesh Bank sources confirmed. In Bangladeshi currency, the amount is equivalent to Tk 14,620 crore (Tk 86 per dollar), which is more Tk 600 crore more compared to the previous month December. Compared …

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Tuesday reiterated the need for speedy completion of the ongoing railway development projects across the country to derive economic benefit. “The growing economy of Bangladesh has reinforced the need for upgrading railway connectivity, including building new tracks and converting single lines to …

The Dhaka Stock Exchange (DSE) has started availing the electronic tax deducted at source (e-TDS) system to pay taxes to the public exchequer. It paid Tk 331 million under Tax Zone-13 of the National Board of Revenue (NBR) using the e-TDS system. The DSE paid the tax – for the …

Summit Alliance Port said its earnings rose in the first half of the current financial year of 2021-22 as its handled an increased volume of containers for international trade during the period. The net profit of the leading off-dock increased 7 per cent year-on-year to Tk 10.35 crore in the …

Almost all listed pharmaceutical companies in Bangladesh registered higher profits in the first half of the ongoing financial year (FY) thanks to increased health consciousness amid the coronavirus pandemic. Among the 10 major drug makers that recently disclosed their latest financial reports, nine companies logged higher profits while only Silva …