Regional & International Economy

The Ministry of Commerce on Wednesday approved the extension of renewal period of existing licenses or registrations of the importers and exporters for enhancing ease of doing business. In a circular issued by the ministry on the day, the validity of the existing import registration certificate (IRC) and export registration …

Oil trickled down on Thursday, hovering around two-month lows, as the proposed price cap on Russian oil from Group of Seven (G7) nations was considered higher than the current trading levels, alleviating concerns over tight supply. A greater-than-expected build in US gasoline inventories and widening COVID controls in China added …

Commerce Minister Tipu Munhsi today sought support of Italy to continue the Generalized System of Preferences (GSP) facilities in favour of Bangladesh for six more years beyond the LDC graduation. The commerce minister sought such support when Italian Ambassador to Bangladesh Enrico NUNZIATA met him at his secretariat office today. …

World oil prices plunged more than five percent Monday, reaching the lowest levels since January, on forecasts of a hit to Chinese demand. Brent North Sea crude slumped 5.5 percent to $82.84 per barrel and WTI shed 5.7 percent to $75.55 as China’s first coronavirus death in six months triggered …

If the current trend of remittance inflow to Bangladesh continues, the country will be unable to meet its monthly remittance target of $2 billion in November. According to Bangladesh Bank data, expatriates sent only $1.05 billion in the first 18 days of the ongoing month. This figure was published in …

Firms, both local and foreign, have put on hold their investments in Bangladesh owing to the surge in the dollar price, the energy crisis, the escalated cost of production, and the deep uncertainty caused by the Russia-Ukraine war. One of the key indicators of the investment situation is the import …

Experts and businesspeople emphasized the importance of focusing attention on product diversification, the use of cutting-edge technology, innovation, and bilateral partnerships with major export destinations to address the challenges that will arise as a result of Bangladesh’s graduation from the least-developed country (LDC) status. They also suggested skill development, higher …

No use blaming only the global crunch, rather the government should kick-start structural reform in financial sector to remove anomalies to navigate oncoming crises, says an economic think-tank. The South Asian Network on Economic Modeling (SANEM) prepares a course of action that focuses remedying high default loans, preventing money laundering, …

Prime Minister Sheikh Hasina yesterday called for expediting the implementation of Kuwait’s proposal to set up a petroleum refinery in Bangladesh. She said this while Kuwait Ambassador to Bangladesh Faisal Mutlaq Aladwani called on her at her official residence Ganabhaban. PM’s Press Secretary Ihsanul Karim briefed reporters after the meeting. …

Oil extended declines on Thursday as geopolitical tensions eased slightly and rising numbers of Covid-19 cases in China added to worries over demand in the world’s largest crude importer. Poland and NATO on Wednesday said a missile that crashed inside NATO member Poland was probably a stray fired by Ukraine’s …