News

The government continues to borrow from Bangladesh Bank on a large scale as commercial banks are now unable to finance the state due to liquidity crunch. Economists warn that if the government consistently borrows from the central bank, it may stoke inflation in the coming days. Between July 1 and …

The commerce ministry yesterday requested the Bangladesh Bank for keeping a certain quota of the US dollar to facilitate import of six essential commodities to ensure smooth supply of the goods during the Ramadan. The ministry’s move comes as a dip in imports of a number of essentials created a …

The government is going to allow commercial cultivation of non-native vannamei species of shrimp, also known as whiteleg shrimp, as experimental farming in three farms in the southern coastal region showed severalfold higher yields compared to that of locally farmed black tiger shrimp. The development comes as a technical panel, …

Oil prices were little changed on Friday as the market balanced a weaker U.S. dollar and mixed U.S. jobs reports, but both crude benchmarks ended the first week of the year lower due to global recession concerns. Brent futures fell 12 cents, or 0.2%, to settle at $78.57 a barrel, …

Despite local and global uncertainty, Bangladesh’s expanding ICT sector did rather well in 2022. ICT exports from the country reached record highs last year as a result of businesses in the sector receiving an increasing number of orders from international customers for software, data processing, and IT-enabled services (ITES). Export …

Commerce Minister Tipu Munshi said on Wednesday that the initiative has been taken to stock seven daily essentials and ensure adequate supply to keep their prices stable during the fasting month of Ramadan. The minister said this while speaking at the 5th meeting of the ‘Task Force on Review of …

The government may adopt the Indian experience in fuel import and distribution by the private sector as the government is drafting a policy for open market sales of petroleum fuels. Bangladesh has sought Indian cooperation and experience in open market fuel sales on the local market by private companies. During …

Inflation may remain high in the financial year 2022-23 amid a supply shock in the wake of an increase in fuel and energy prices, which is not abating soon, the Bangladesh Bank forecasted in its quarterly report released on Wednesday. The BB in its report said, ‘Inflation is likely to …

Chinese company SSH (BD) Sustainable Fashion Co Ltd has signed an agreement with the Bangladesh Export Processing Zones Authority (Bepza) to invest $24.05 million to set up a high-end garment factory in Bepza Economic Zone. Ali Reza Mazid, member (investment promotion) of the Bepza, and Sun Ge, managing director of …

The government has taken a fresh initiative to import rice amid concerns that the domestic procurement target during the ongoing Aman season might not be achieved. Yesterday, the government approved the import of one lakh tonnes of rice. It came during a meeting of the cabinet committee on government purchase …