Regional & International Economy

The government yesterday placed more orders to buy fertiliser in order to augment the stock for the vital agricultural input to ensure smooth cultivation of crops in the coming seasons, particularly the boro when Bangladesh’s main rice crop is produced. In a virtual meeting, chaired by Finance Minister AHM Mustafa …

The Reserve Bank of India is set to raise interest rates again next week with a slim majority of economists in a Reuters poll expecting a half-point hike and some others expecting a smaller 35 basis point rise. There was a wide consensus that the RBI will raise rates at …

A total of 211 ships with 4.7 million tonnes of agricultural products on board have left Ukraine so far under a deal brokered by the United Nations and Turkey to unblock Ukrainian sea ports, the Ukrainian infrastructure ministry said on Saturday. The ministry said eight ships with 131,300 tonnes of …

The euro sank to a two-decade low of $0.9810 on Thursday. It came after Russian President Vladimir Putin ordered the partial mobilization of reservists in an escalation of the war in Ukraine and after the Federal Reserve enforced another stark interest rate hike as a response to soaring inflation, reports …

The pound fell to a fresh 37-year low against the dollar Friday as traders grow increasingly worried about the economic outlook with central banks ramping up interest rates to fight runaway inflation. Sterling fell as low as $1.1151 — its weakest since early 1985 — after the Bank of England …

The central bank yesterday ordered six banks to spend 50 per cent of the profits they had earned from their foreign exchange businesses unethically between May and June for corporate social responsibility (CSR) programmes. The six banks — Brac Bank, Dutch-Bangla Bank Ltd, The City Bank, Southeast Bank, Prime Bank, …

Bangladesh’s forex reserves are now down to USD 36.90 billion, despite the central bank’s move of curbing imports, and currency diversification in foreign trade. According to the data of Bangladesh Bank, forex reserves on Wednesday stood at $36.90 billion, which was $37.08 billion last Monday. In the first week of …

World Bank (WB) new Vice President for South Asia Martin Raiser has said the WB will remain beside Bangladesh as a partner in adopting economic policies to overcome the challenges of development. Raiser said this at a meeting with Finance Minister AHM Mustafa Kamal on Tuesday night. This is his …

Country Director of the Asian Development Bank (ADB) to Bangladesh Edimon Ginting noted that the overall trend of the country’s economy is ‘positive’. “The overall trend of the economy is still positive. But, if you can make the right policy, then you can make the economy stronger going forward,” he …

The State Bank of India has asked exporters to avoid settling deals with Bangladesh in the dollar and other major currencies considering the Bangladesh’s present economic situation and shortage of foreign currency. The lender issued a circular in this regard and sent it to its branch offices on August 24. …