News

The Bangladesh Bank yesterday refused to revisit its instruction that asked banks to set a higher interest rate on fixed deposits than the inflation rate despite pleas from lenders.

Local yarn manufacturers have decided to check unusual price hike of yarn in the domestic market, making commitment not to increase yarn prices quoted in the latest proforma invoices (PI).

Development works of the second industrial estate of Bangladesh Small and Cottage Industries Corporation (BSCIC) are progressing fast despite the Covid-19 pandemic in Rajshahi.

The dispute between garment and spinners over the prices of yarn could be resolved amicably after both sides softened their stances, in relief for Bangladesh’s apparel industry rebounding from the pandemic-induced shipment collapse.

The inflation rate slightly declined by 0.28 percent on a point-point basis as it came down at 5.36 percentage point in July 2021.

Bangladesh’s trade deficit hit an all-time high of $22.27 billion last fiscal year due to a rise in commodity prices in the global market.

Implementation of development budget modestly improved in 2020-21 fiscal year but it was far behind that of pre-Covid level as the twist in development activities continued last fiscal due to prolonged corona crisis.

Bangladesh Bank yesterday showed little interest in mopping up excess liquidity from the banking system as it withdrew only 38 per cent of funds attracted from banks through an absorbent instrument.

The government is going to set up the country’s biggest solar power plant in Madarganj upazila of Jamalpur, in a move to raise the share of renewable energy in total power generation to 10 per cent by 2025.

Local traders have started importing green chilli from India after the commerce ministry granted permission in this regard in a bid to bring down the skyrocketing prices of the widely used spice in Bangladesh.