Regional & International Economy

Just when the country’s export-oriented readymade garment (RMG) industry was recovering from the effects of Covid-19 pandemic lockdowns, the Russia-Ukraine war plunged the industry deeper into multiple crises. According to industry insiders, the war managed to shift market trends, as Russia is one of the main energy exporters in the …

Despite Vietnam’s solar boom and ambitious climate targets, the fast-growing economy is struggling to quit dirty energy — leaving one of the world’s biggest coal power programmes largely intact. During the COP26 climate summit last year, the government boldly promised to end the construction of new coal plants and phase …

The World Trade Organization on Monday urged countries to abolish trade barriers in environmental goods and services in order to help fight climate change. In its annual World Trade Report, the WTO says international commerce should not be pitted against combating the climate crisis. The report comes as global leaders …

The International Monetary Fund (IMF) team did not raise the issue of lifting floor prices during its meeting with the Bangladesh Securities and Exchange Commission (BSEC) yesterday, said Mohammad Rezaul Karim, spokesperson of the regulator. In July, the stock market regulator set the floor price for each stock to halt …

Not only the external factors such as the Russia-Ukraine war, the energy crisis and supply bottlenecks but also the unaddressed legacy issues that are responsible for the current ills of Bangladesh’s economy, said economists yesterday. They listed a surge in inflation, the fluctuation in the exchange rate, depleting reserves, fewer …

British International Investment (“BII”), the UK’s development finance institution and impact investor, announces a $50 million loan to Pubali Bank Limited (“Pubali”), a leading universal bank in Bangladesh. The loan facility will help to increase climate-related lending and boost climate mitigation projects across Bangladesh, reads a press release. Bangladesh has …

Low remittance and export earnings figures in September and October will prove to be costly, as another routine import payment to the Asian Clearing Union (ACU) is slated for this week, which will cause the country’s forex reserves to go down further. Data analysis shows that after that payment, the …

A section of unscrupulous traders has been trying to make the basic commodity market unstable by creating a syndicate after the international prices of essentials went up, Commerce Minister Tipu Munshi said yesterday. The commerce ministry and other government agencies are working to put an end to the market manipulation, …

Russia wants the West to ease restrictions on state agriculture lender Rosselkhozbank to facilitate Russian grain exports, according to four sources familiar with the request, made during talks to extend a deal on food shipments from Ukraine. Moscow suspended its participation in the secure Black Sea grain corridor in late …

Bangladesh’s current account deficit has widened further due to a fall in export earnings and inward remittances, creating more pressure on foreign exchange reserves. Bangladesh Bank (BB) data showed that September’s deficit was $3.6 billion, almost twice as much as August’s $1.5 billion. A current account deficit indicates that a …