Regional & International Economy

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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, …

Growing fears of a US recession weighed on equities Thursday as traders gear up for the release of key jobs data that could determine the Federal Reserve’s next interest rate decision. After a few weeks of gains fuelled by hopes the central bank would soon take its foot off the …

The deficit in Bangladesh’s financial account widened substantially in the first eight months of the ongoing fiscal year, in an indication that the current stress in the foreign exchange regime will continue in the coming months. Between July and February of 2022-23, the financial account of the balance of payments …