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Two vessels, JS URAGA (Mine Sweeper Tender) and JS AWAJI (Mine Sweeper Ocean) of the Japan Maritime Self-Defense Force (JMSDF) arrived at Chattogram Port on Sunday for a goodwill port visit. They will stay in Chattogram till 11 April 2023. Captain NAKAI Eiichi, Commander, Minesweeper Division One, and his officers …
Read More »EDF loan ceiling reset as per IMF condition
Bangladesh Bank (BB) has reset the ceiling of the loans in US dollars from the Export Development Fund (EDF) to manufacturers and exporters for input procurements. The central bank took the decision implementing the guidelines of the International Monetary Fund (IMF) with a view to stopping a further fall in …
Read More »USA tops wage earners remittance source
The USA remains the top remittance-earning source for Bangladesh for the first eight months of the current fiscal year. Expatriates sent $2497.2 million from the America from July 2022 to February 2023, according to Bangladesh Bank. The expatriates sent $298.7 million in January and $231.84 million in February, according to …
Read More »Export competitiveness project still in slow lane after 6 years
The commerce ministry’s Export Competitiveness for Jobs (EC4J) project, which aims to expand Bangladesh’s export basket, has once again failed to meet its deadline and become costlier due to slow implementation. The Tk 941 crore project has seen only 25 per cent progress following its previous six-year completion schedule, according …
Read More »Soybean oil remains dearer though global prices slump
Although soybean oil prices have dropped in the international market, consumers in Bangladesh are yet to reap the benefit of this reduction as domestic prices remain the same. Globally, soybean oil was sold at $1,236 per tonne in the January-March period of the current calendar year, down 26 per cent …
Read More »IMF chief calls on central banks to continue inflation fight
Central banks around the world should keep battling inflation by hiking interest rates despite ongoing concerns about financial stability, the head of the International Monetary Fund told AFP on Thursday. Since last year, central banks have been raising their benchmark lending rates to tackle inflation, which rose to levels not …
Read More »Tax policy fails to attain goal of employment
Tax policy support for engaging physically challenged people and transgender community members in mainstream economy has failed to attain its objective. Experts, businesses and transgender community leaders suggested reforming the conditions of hiring from the communities by introducing several slabs from 1 per cent to 5 per cent and urged …
Read More »Two panels formed to start Cepa talks with India
The commerce ministry has formed two separate committees to start negotiations with India over signing a proposed Comprehensive Economic Partnership Agreement (Cepa) to boost bilateral trade and investment in the post-LDC period. The negotiation committee is headed by Additional Secretary to the commerce ministry Noor Mahbubul Haque while the advisory …
Read More »Experts suggest budget reforms for higher tax revenue
Experts on Tuesday emphasized the need for measures to enhance tax revenue, commence automation of tax collection, generate employment, reduce inflation and ensure policy predictability in the upcoming budget. They also stressed the need for expanding the tax net, revisiting corporate tax, containing tax evasion, and rethinking the formulation of …
Read More »WB keeps Bangladesh’s growth forecast unchanged at 5.2pc
The World Bank (WB) has kept its GDP growth forecast for Bangladesh unchanged at 5.2 percent for FY23 citing tighter financial conditions, disruptive import restrictions, and global economic uncertainty. Bangladesh made a rapid recovery from the COVID-19 pandemic supported by prudent macroeconomic policies, but the economy now faces considerable challenges, …
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