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The National Board of Revenue (NBR) yesterday extended the scope for traders to import rice at reduced tariff by three months to March 31 next year to facilitate increased supply of the staple food and contain its prices in the local market. The NBR made the announcement through a notification …
Read More »Developing economies’ debt more than doubled over decade: World Bank
The external debt of developing economies has more than doubled from a decade ago to $9 trillion in 2021, the World Bank said Tuesday, warning the debt crisis facing these countries has intensified. The pandemic has forced many countries to take on more borrowing, and World Bank President David Malpass …
Read More »$1 billion loan: ADB vice-president to reach Dhaka tonight for discussion
Ashok Lavasa, vice-president of Asian Development Bank (ADB), will arrive in Dhaka tonight to discuss Bangladesh’s requirement of USD 1 billion in loan assistance for budget implementation, Economic Relations Department (ERD) sources have said. Lavasa, in-charge of Private Sector Operations and Public-Private Partnerships, will meet the planning minister and foreign …
Read More »Private sector working to implement environment-friendly industrialization: FBCCI President
President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md. Jashim Uddin has said the private sector is working with the government of Bangladesh to implement environment-friendly industrialization. He made this remark during a roundtable discussion on “Financial and Professional Services – the role of standards and …
Read More »$250m budget support likely from AIIB
Asian Infrastructure Investment Bank (AIIB) will provide $250 million or nearly Tk 25 billion loan to Bangladesh as budget support to help overcome present economic crisis. The bank will start loan negotiation with Bangladesh this week and the finance ministry has already sent a summary of the loan deal to …
Read More »Travel tax collection by NBR surges
Travel tax collection by the National Board of Revenue increased by Tk 216.67 crore or 143.15 per cent in the July-October period of the current financial year 2022-2023 as the movement of international passengers has become normal since early 2022, according to the NBR. Travel tax collection by the NBR …
Read More »BB injects Tk 4,000cr into 5 Islamic banks
Five Islamic banks yesterday borrowed nearly Tk 4,000 crore from Bangladesh Bank right after a liquidity support arrangement was offered by the central bank to cash-strapped Shariah-based banks. The fiver are Islami Bank Bangladesh, Social Islami Bank, First Security Islami Bank, Global Islami Bank and Union Bank, said a senior …
Read More »Bangladesh can be a market for 300cr people
Bangladesh is the most ideal place for investment in the world and can become an investment centre for a market of 300 crore people, said Prime Minister Sheikh Hasina yesterday. “Due to its geographical location and infrastructural development, Bangladesh is the most attractive destination for investment. We are offering the …
Read More »Leather maintains healthy export growth despite global crisis
Despite the raging global economic crisis, Bangladesh’s leather and leather products sector witnessed a 17.56 per cent year-on-year growth in export earnings in the first five months of the current fiscal year on the back of orders shifting away from competitors. In July-November, exporters earned $537.50 million from the shipment …
Read More »Current account deficit widens further
Bangladesh’s current account deficit widened further in October as imports continued to surge compared to the combined receipts from exports and remittances. The current account records a nation’s transactions with the rest of the world, specifically its net trade in goods and services. For Bangladesh, it stood at $4.5 billion …
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