Business

The government will purchase 40 lakh litres of rice bran oil and 6,000 tonnes of lentil from the country’s domestic market for the state-owned Trading Corporation of Bangladesh (TCB). Sayeed Mahbub Khan, additional secretary to the cabinet division, said the cabinet committee on public purchase on Wednesday approved the proposals for purchasing the rice bran oil and lentils. The oil ...

The International Monetary Fund on Tuesday said its August 2021 allocation of $650 billion in Special Drawing Rights helped countries cope with the COVID pandemic and averted worse outcomes, but cautioned against rushing into future allocations. “While an SDR allocation is a very useful and important mechanism to build confidence and strengthen global economic and financial resilience, it is not ...

The government will provide an incentive of Tk 16.20 crore to some 18,000 small and marginal farmers of the country to increase the cultivation and production of summer onion (late variety) in the 2nd phase of 2023-24 fiscal year. Under the incentive, each farmer will get 1 kilogram of seed of summer onion Nabee (late) variety, 20 kg of DAP ...

Air passengers across Europe faced potential delays on Monday after the UK’s air traffic control system suffered a “technical issue” resulting in restrictions on flights. Britain’s National Air Traffic Services (NATS) said that UK airspace would remain open while it tried to resolve the problem. “We have had to apply air traffic flow restrictions which ensures we can maintain safety,” ...

Bangladesh and the World Bank today signed a $300 million financing agreement to equip about 900,000 economically disengaged rural youths with skills and alternative education needed for employment and entrepreneurship. Out of the total number, about 60 percent will be female. Economic Relations Division (ERD) Secretary Sharifa Khan and World Bank Country Director for Bangladesh and Bhutan Abdoulaye Seck on ...

Amid the funding winter, online grocery delivery startup Zepto has become the first unicorn of 2023 to raise $200 million in Series-E fundraise, valuing the company at $1.4 billion. The fundraise was led by US-based private markets investment firm StepStone Group. Also, the investment marks StepStone Group’s first direct investment in an Indian company. Avendus Capital acted as an exclusive ...

Sandwich chain Subway is set to be bought by a private equity firm, ending six decades of family ownership. The company announced it had agreed a deal with US-based firm Roark Capital, which has brands Baskin-Robbins and Dunkin’ on its books. The chain did not reveal the terms of the sale, but Reuters reported it has been valued at more ...

Essential market in the capital is instable due to hike in prices of egg, onion, garlic and potato. Buyers are also struggling not only to buy fish and meat but also egg, onion, garlic and potato. Visiting Muslim Bazar in Mirpur and Kitchen Market in Mirpur-11 on Friday, garlic was seen costlier alongside some other commodities. Local onion was selling ...

The government has taken a decision to provide export incentives or cash assistance to 43 products in the current fiscal year 2023-24. Bangladesh Bank (BB) on Thursday issued a circular in this regard, BSS reports. According to the circular, exporters will receive cash incentives at the rate of one percent to 20 percent as they received in the past financial ...

Fuel traders in Khulna threatened to go for a strike for an indefinite period from September 3 if their three-point demand, including raising sales commission, is not met by August 31. Abdul Gaffar Biswas, president of Khulna District Petrol Pump Owners Association, made the announcement after a meeting with fuel traders in the New Market area of Khulna city on ...