Bangladesh to loosen interest rate on IMF prescription

However, the BB governor did not announce when Bangladesh Bank would introduce the flexible interest rate and exchange rate.
6 May 2024, 00:37 AM

Decent jobs, quality education should get top priority in budget

About 22 percent of the respondents placed top priority on decent jobs, 17.5 percent on quality education and 12 percent on social protection, said the associated report.
6 May 2024, 00:37 AM

Taka to trade more freely by next month

Bangladesh will introduce a crawling peg system by next month to make the exchange rate more flexible and improve the foreign currency reserves, a key prescription from the International Monetary Fund.
5 May 2024, 18:00 PM

Garment exports to US continue to decline

In the January-March period of the current year, garment shipments to American markets declined by 17.68 percent to $1.75 billion, according to data from the Office of Textiles and Apparel (OTEXA), a body under the American Commerce Department.
5 May 2024, 00:00 AM

Rancon rolls out six models of Mercedes Benz EVs

In recent years, German automotive manufacturers Audi and BMW, and Chinese giant BYD have launched EVs in Bangladesh.
5 May 2024, 00:00 AM

Will there be any respite from inflation?

To many, especially salaried and fixed-income individuals, this means they will have no option but to find ways to cut expenditures to bear increased electricity bills.
5 May 2024, 00:00 AM

BB likely to discard SMART formula as interest rate surges

In July last year, the central bank withdrew the 9 percent lending rate cap and introduced the Six-months Moving Average Rate of Treasury bills (SMART).
5 May 2024, 00:00 AM

Remittance rose 21% in April for Eid

Officials of commercial banks said the remittance inflows are not up to the mark considering the record number of manpower exports because the unofficial exchange rate is still high.
3 May 2024, 00:47 AM

Padma Bank MD asked to justify application on behalf of defaulter

The court has served a show-cause notice to the managing director of Padma Bank for applying for bail and release of property of a wilful defaulter without fulfilling the conditions of the law, according to court documents.
3 May 2024, 00:47 AM

Handover of 500 acres of land for Bay Terminal at final stage

In three separate letters, the Chattogram district administration yesterday instructed the Chittagong Port Authority (CPA) to deposit the land lease charges with the Bangladesh Bank and send copies of the respective receipts to its office.
3 May 2024, 00:47 AM

Export falls to a six-month low

The country shipped products worth $3.91 billion last month, down 0.99 percent from $3.95 billion a year ago, according to data released yesterday by the Export Promotion Bureau (EPB).
3 May 2024, 00:47 AM

Power price to go up four times a year

The government has drawn up a plan to increase the price of electricity four times a year for the next three years to withdraw all subsidies in the power sector, which the IMF recommends.
2 May 2024, 18:00 PM

Finance Minister seeks budget support from ADB

Finance Minister Abul Hassan Mahmood Ali sought policy-based lending support to undertake reforms related to trade policy, logistics, climate and LDC graduation.
2 May 2024, 14:38 PM

Heatwave leaves day labourers in the lurch

Despite their willingness to brave the unprecedented temperatures, many day-labourers are still not finding jobs as most employers have put their projects on hold since they are not getting the optimal output from day labourers.
1 May 2024, 01:11 AM

Container handling rises in Ctg port

According to data provided by the Chittagong Port Authority (CPA), the port handled 23.38 lakh TEUs (twenty-foot equivalent units) of containers, including those laden with imports and exports and empty ones, from July last year to March this year.
1 May 2024, 00:22 AM

Govt formulates maiden logistics policy

The policy aims to ensure a reduction in delays and costs by achieving efficiency in overall logistics services, including production, storage, transportation, shipping and release, and distribution of products, within competitive cut-off times based on regional and international standards.
1 May 2024, 00:11 AM

Reforms can generate Tk 15 lakh crore additionally by 2035

In the study, the Policy Research Institute of Bangladesh (PRI) found that by 2035, the government would be able to raise 6.8 lakh crore at the current pace of collections. If reforms are carried out, it will go up to Tk 21.1 lakh crore.
1 May 2024, 00:11 AM

Exports may shrink up to 14% after LDC graduation

With over 70 percent of the country’s merchandise exports currently benefitting from LDC-specific trade preferences, the impact of Bangladesh’s impending LDC graduation on its export sector, particularly the dominant garments industry, is a significant concern.
1 May 2024, 00:11 AM

More exchange rate flexibility needed

Bangladesh’s macroeconomic performance has significantly improved since the country entered the IMF’s $4.7 billion loan programme in January last year, but the bleeding of foreign currency reserves continues, putting the taka under pressure, the global lender said yesterday.
30 April 2024, 18:00 PM

Reforms needed in economic governance, banking: ADB

Citing an ongoing discourse over whether governance or development should be given priority, Edimon Ginting, Bangladesh country director of the ADB, said he believes it is the latter that should come first.
30 April 2024, 00:57 AM