Regional & International Economy

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 …

When the local currency began sliding against the US dollar amid the depletion of foreign currency reserves, textile and readymade garment exporters were supposed to gain from the development as usually happens. But the reality turned out to be different for them as they saw lower profits. Some even fell …

There is no chance of famine occurring in Bangladesh, said Selim Raihan, executive director of Sanem, a research organisation, yesterday. “Famine is a very strong word and it often creates panic. I think there is no chance of famine in Bangladesh. We have passed that time,” he said. He, however, …

The country has secured a preliminary agreement for a $4.5 billion loan that will be extended by the International Monetary Fund (IMF) over the next three years. Implementation Main Challenge However, the availability of the loan depends on the implementation of economic policies put forward under the preliminary agreement. This …

Many banks in Bangladesh have reined in opening most of the letters of credit (LC), including for importing daily necessities, due to the ongoing crisis of foreign currencies in the country. Even with the dollars coming from remittances and export earnings, the bank authorities are unable to pay their import …

Dhaka, Nov 16: Bangladesh Bank has allowed mobile financial service (MFS) providers to repatriate (conversion of foreign currency into local currency) export income and inward remittance, reports UNB. All authorised dealers will provide encashment certificate to MFS providers against inward remittance, on account of information technology enabled services (ITES) exports. …

Singapore has shown its keen interest to explore the many trade potentials in different Bangladeshi sectors such as infrastructure development, energy and data mining. This was discussed while Singaporean Transportation Minister and Minister in Charge of Trade Relations S. Iswaran held a bilateral meeting with the State Minister for Foreign …

Dhaka, Nov 17: Bangladesh Bank Governor Abdur Rouf Talukder has said there will be no foreign exchange crisis from January 2023, as the country’s exports and remittances have become surplus compared to imports. He said this while speaking on the state of financial sector at the national seminar on LDC …

UNICEF is launching a new climate financing initiative to enhance countries’ climate resilience and disaster preparedness for children and youth and bolster protection for children from the impacts of future climate-related disasters. The Today and Tomorrow initiative is an integrated climate change finance solution that, for the first time, combines …