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Bangladesh Bank (BB) has raised the interest rate on loans made from its Export Development Fund (EDF) by 50 percentage points. “It has been decided that interest rate on EDF loans to ADs will be charged by Bangladesh Bank at 3 percent pa, while ADs will charge interest to manufacturer-exporters …

The government has resumed purchasing liquefied natural gas from the spot market ending more than six months suspension since its price went up in the global market. A cabinet committee on government purchases on Wednesday approved a proposal from the energy division to import one cargo of LNG from the …

Remittance flow to Bangladesh rose to a five-month high in January as banks have made an all-out effort to mobilise US dollars from abroad to overcome the stress in the foreign exchange market. Expatriates sent home $1.95 billion last month, the highest since September when $1.53 billion flew into the …

s soon as the coronavirus pandemic hit Bangladesh in early 2020, thousands of people, mostly in the informal sector, lost their jobs. One of them is Rasel Miah. He lost his job at a workshop as soon as the government imposed the nationwide shutdown. Unemployed for over a year, he …

The Bangladesh Bank has decided to raise its dollar price by 1% to Tk 101, after economists called for market-determined exchange rates amid forex instability. The revised rate takes effect from the first week of February, officials said about the development coming in the wake of the dollar crisis. The …

Bangladesh Bank (BB) today inked “Participation Agreements” with 49 commercial banks for Taka 10,000 crore Export Facilitation Pre-finance Fund (EFPF). The central bank formed the EFPF fund for exporters to continue the development and expansion of export-oriented industries. Under the fund, exporters will be able to take loans in local …

Finance Minister AHM Mustafa Kamal said the approval of US$4.7 billion loan from the International Monetary Fund (IMF) proved that the basic areas of the country’s macroeconomic fundamentals are on solid foundation. “The country’s macroeconomic fundamentals are better than many other countries of the world,” he said. The Finance Minister …

Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China’s lifting of zero-Covid restrictions provides another boost. World growth has been bogged down by fallout from Russia’s invasion of Ukraine last year, economic downturns …

The 27th Dhaka International Trade Fair-2023 ended on Tuesday with businesses receiving export orders worth about $30.38 million (about Tk 300 crore) while goods worth Tk 100 crore were sold in the month-long exhibition at the Bangabandhu Bangladesh-China Friendship Exhibition Centre at Purbachal in Dhaka. A total of 47 businesses …

Bangladesh government has sought a revision to the power purchase agreement it signed with Adani Power Ltd for importing electricity from its thermal power plant in Jharkhand of India. Bangladesh Power Development Board, the government agency tasked with overseeing the development of the country’s power sector, has already sent a …