Regional & International Economy

The new repo rate — the interest rate at which banks borrow short-term funds — from the central bank was implemented on Sunday. With this, Bangladesh Bank changed its policy or repo rate for the third time in just four months. The central bank said this was done to control …

Expatriate Bangladeshis sent around US$ 1,539.49 million remittances during the month of September in the fiscal 2022-23. From July to September of the current 2022-23 fiscal year, the total remittance inflow was $5,672.74 million. According to the Bangladesh Bank data, the country received $2,096.32 million in July and $2,036.93 million …

The government has U-turned on plans to scrap the 45p rate of income tax for higher earners. Chancellor Kwasi Kwarteng told the BBC the proposals, announced just 10 days ago, had become “a massive distraction on what was a strong package”. “We just talked to people, we listened to people, …

Ms Intex Link Garments (BD) Limited is going to set up a Garments industry in Chattogram Export Processing Zone (CEPZ) with an investment of US$ 9.58 million. Fully foreign owned this Chinese company will produce annually 61 million pieces of T-shirt, woven pants and jacket, ladies bra and panty, mans’ …

Planning Minister MA Mannan yesterday claimed that inflation in Bangladesh has come down notably although the Bangladesh Bureau of Statistics (BBS) was yet to publish the consumer price index for August and September. The consumer price index measures change over time in the prices paid by consumers for a representative …

The price of soybean oil decreased to $1,390-$1,425 per metric ton and the price of palm oil stood at $850-$900 per metric ton in the global market during the last week of September, according to Statista. The price of soybean oil and palm oil per ton jumped to a record …

The export of RMG items to European Union (EU) has witnessed a robust growth of 45 percent during the January-June period of this year compared to the same period last year. According to data from the Eurostat under the European Commission (EC), the import of RMG items to EU market …

The World Bank has announced $530 million in supplemental funding for Ukraine to enable it to ‘meet urgent needs created by Russia’s invasion.’ The support, in the form of a new loan from the International Bank for Reconstruction and Development, is being guaranteed by Britain to the tune of $500 …

The number of Bangladeshi workers who headed to the Middle East countries in search of jobs surged 177 per cent year-on-year in the first eight months of 2022, official figures showed. The opening of the doors following the recovery of the oil-rich nations from the coronavirus pandemic and a higher …

Bangladesh Bank on Wednesday increased the ceiling of the rate at which Bangladeshis could secure finances from external sources through local banks. The move comes after the benchmark rate hikes by the United States made it difficult for them to access finances. On August 16, the central bank set the …