Regional & International Economy

Migrant workers sent home an estimated $605 billion to low- and middle-income countries last year, a UN study said Thursday, boosted by an increase in payments sent via mobile phones. Global remittances rose 8.6 percent compared to 2020 and are projected to grow to $630 billion in 2022, according to …

The Asian Development Bank (ADB) may pledge to lend Bangladesh US$2.3 billion during 2023-2025 under an overall development recipe, at a time when the country launches a search for foreign-exchange support. Regarding the financing programme the ADB is finalising indicative country pipeline and monitoring (ICPM) report for the period, officials …

Finance Minister AHM Mustafa Kamal told parliament yesterday that people had defaulted on repayments against loans amounting to Tk 126,389 crore in the country as of March this year according to Credit Information Bureau. Banks and financial institutions are unable to realise another Tk 21,046 crore due to High Court …

Farmers and traders of agricultural products in Barishal, Jhalakathi and Pirojpur are counting the days until June 25, when Prime Minister Sheikh Hasina will officially open Padma Bridge, as the resulting increase in connectivity will ensure better prices for their produce. “The wholesale price of guava was Tk 10 to …

The honorable Members of the Parliament perceive the tobacco tax proposals in the budget for FY 2022-23 to be very frustrating. The effective tobacco taxation proposals pushed by different anti-tobacco organizations, researchers, and activists have not been reflected at all in this budget for the coming fiscal year. They said …

Sri Lankan casino magnate Dhammika Perera entered parliament on Wednesday with a mandate to revive the bankrupt island nation’s wrecked economy — working alongside a premier who once accused him of corruption. The 54-year-old Perera is a long-time loyalist of the powerful Rajapaksa clan, whom protesters have accused of mismanaging …

Oil prices plunged more than five percent Wednesday as traders grow increasingly worried that demand for the commodity will take a hit from a possible recession caused by a sharp hike in interest rates aimed at reining in inflation. West Texas Intermediate lost 5.09 percent to $103.92 a barrel, while …

Laptop users in Bangladesh are set for a bigger hit as the imposition of a 15 per cent value-added tax at the import stage of the essential digital device would lift the prices further. Even before the budget for the next fiscal year was unveiled on June 9, laptop prices …

The currency of Bangladesh has depreciated further against the US dollar, hitting Tk 92.95 on the interbank platform yesterday. The exchange rate stood at Tk 92.90 per dollar on Monday before slipping by another Tk 0.05 yesterday, the 16th decline of the taka this year. The local currency is losing …

The long-cherished Padma Bridge is set to be inaugurated on June 25 next creating employment opportunities for thousands of people living it the country’s southwestern region as establishment of industries will begin there from now on. “The Padma Bridge will connect the country’s northern and southern regions. Rapid progress will …