Business

Rising global uncertainty triggered by the Iran war has placed Bangladesh’s external trade under pressure, as imports of essential goods and industrial raw materials have declined until April this year. Businesses said volatility in global markets, a dollar shortage and higher shipping costs have cut imports and pushed large industrial groups into losses. Analysts warned that the trend could drive ...

Authorities have introduced a QR code-based “Fuel Pass” app on a pilot basis in a bid to restore transparency and discipline in the distribution of fuel across Bangladesh. Under the new system, each vehicle will be assigned a unique QR code, which must be scanned at fuel stations to receive fuel within a quota. The initiative is designed to regulate ...

Industries Minister Khandaker Abdul Muktadir on Thursday emphasised that there is no alternative to making the Bangladesh economy more competitive and resilient as the country prepares to graduate from the Least Developed Country (LDC) status. “In the current global context, taking effective and rapid action is no longer optional,” he said while speaking as the chief guest at a function ...

Amid the concerns over supplies, two more vessels carrying 51,000 tonnes of octane and furnace oil arrived at Chattogram Port on Wednesday (8 April). Of the vessels, Marshall Islands-flagged “MT Central Star” is carrying 26,000 tonnes of octane from Malaysia. Besides, another tanker “MT Eastern Quince” is carrying 25,000 tonnes of furnace oil. Chattogram Port Authority (CPA) Secretary Syed Refayet ...

Gold prices in Bangladesh have been reduced by Tk4,432 per bhori, with the price of 22-carat gold now set at Tk247,977, according to the Bangladesh Jeweller’s Association (BAJUS). In a statement issued on Thursday (9 April) morning, BAJUS said the new prices were fixed considering the overall market situation, particularly a decline in the price of pure gold (tejabi gold) ...

UK house prices fell in March, as the housing market lost momentum amid uncertainty over the conflict in the Middle East and the impact on the economy and interest rates. Figures from Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – showed property prices dipped by 0.5% in March compared with a month earlier. As a result, ...

The government on Tuesday hiked the prices of jet fuel for the second time within two weeks as a worsening global supply crisis puts pressure on prices. The price of jet fuel for domestic travel has been hiked by Tk24.79 to Tk227.08 per litre, announced the Bangladesh Energy Regulatory Commission (BERC) in a notification. The price of jet fuel for ...

A significant development has emerged in the widely discussed Bangladesh Bank reserve heist case, with a court in New York ordering former governor Dr Ahsan H Mansur to provide a deposition. According to an internal document from the Bangladesh Financial Intelligence Unit (BFIU), Dr Mansur is scheduled to give his deposition on 10 April in compliance with the court’s directive. ...

The BNP-led government has set a key target of getting the country to a trillion-dollar economy by 2034, said Finance Minister Amir Khosru Mahmud Chowdhury at a parliamentary session on Monday. To this end, the government is preparing short-, medium-, and long term plans, he said in reply to a question placed by Dhaka-18 lawmaker SM Jahangir Hossain. Citing the ...

After raising prices in four successive rounds, the Bangladesh Jewellers’ Association (BAJUS) has finally decided to reduce gold prices in the domestic market. The organisation has lowered the price of 22-carat gold by Tk2,158 per bhori, setting the new rate at Tk245,819. The revised prices came into effect from 10:00am. BAJUS disclosed the decision in a statement issued on Monday ...