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The jute ministry has received a total of 37 proposals from the private sector for leasing 13 state-owned mills after it said textiles could be produced at the mills apart from jute goods, officials said yesterday. The Bangladesh Jute Mills Association (BJMC), which controls state-owned mills, released the revised terms …

The Asian Development Bank trimmed its economic growth forecast for developing Asia on Wednesday, with China’s pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region’s prospects. The Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection …

The central bank has asked banks to take a minimum cash advance from importers while opening letters of credit (LCs) for rice and wheat in order to keep their prices at a tolerable level in the domestic market and ensure smooth supply. The advance payment, also known as the cash …

An eight-member delegation of the Asian Development Bank (ADB) led by its Vice-President Ashok Lavasa, visited Pran-RFL’s Industrial Park in Narsingdi on Friday. The delegation visited different parts of the industrial park, reads a press release. Ashok Lavasa is in-charge of the private sector operations and public-private partnerships. The delegation …

Finance Minister AHM Mustafa Kamal today said that the International Monetary Fund (IMF) lauded highly the achievements of Bangladesh terming it as “extraordinary”. “Few weeks back, an IMF mission visited Bangladesh to see the position of Bangladesh in the economic fronts. Then they made such comments,” he said. The Finance …

Stocks retreated into the red in the outgoing week to Thursday, after a single-week break, as political tensions added to a prolonged bearish sentiment, prompting investors to stay away from the market. Moreover, 82 per cent of shares remain trapped in ‘floor price’, squeezing the opportunities for investors to derisk …

The National VAT (value added tax) Day will be observed on Saturday while the National VAT Week on December 10 to 15 across the country in a befitting manner. The National Board of Revenue (NBR) has chalked out various programmes to mark the National VAT Day and VAT Week to …

Finance minister AHM Mustafa Kamal on Saturday said that automation of the value-added tax system was the key to removing barriers to tax collection to achieve a sustainable growth of the country. He made the statement as chief guest at a programme organised by the National Board of Revenue marking …

The net sales of national savings certificates remained negative for the second consecutive month in October, the fourth month of the current financial year 2022–23, amid the government’s discouraging measures on purchasing NSCs. According to Bangladesh Bank data, the net sales of NSCs was Tk 96.31 crore negative in October …

Bangladesh’s cotton import may drop to 8 million bales in marketing year 2022-23 which began in August, said the US Department of Agriculture (USDA) at the end of last week. This will be resulting from high international raw cotton prices, reduced garment production due to a domestic power shortage and …