Business

Banks will provide a special benefit of Tk 0.50 for each US dollar to repatriate the export income of December and January by February 28, reports UNB. A meeting of managing directors (MDs) of state-owned and private banks has decided that the special benefit of an additional Tk 0.50 against each dollar of export earnings will be given for the ...

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the French Development Agency the financial wing Proparco to provide the small and medium enterprises (SMEs) of the country with the low-cost fund and grant as they often cannot avail of regular financing schemes due to stringent due diligence. “Bangladeshi garment factories are making huge investments to make their production ...

The cost of power generation (per kilowatt hour) at the 1320 MW Rampal power plant is now estimated to be Tk 14-15 per unit, instead of Tk 7-8 per unit, as envisioned when the project was first taken up. “The recent hike in coal prices in the global market has pushed up the generation cost. If the coal price declines, ...

Eminent entrepreneur and Rangs Group’s founding chairman Abdur Rouf Chowdhury passed away at his Gulshan residence in the capital on Saturday. (Innalillahi Wa Inna Ilayhi Rajiun). He was 86. He breathed his last at around 12:30pm due to prolonged illness, the family sources said. Chowdhury, was also the founding chairman of Rancon Group and Sea Resources Group, and Director of ...

Indian-American Neal Mohan will be the new YouTube CEO, as current head Susan Wojcicki has announced to step down after 25 years at the Google-owned company. Currently chief product officer, Mohan became part of Google, the parent company of YouTube, in 2008. He is a Stanford graduate and earlier worked with Microsoft. Mohan and Wojcicki have worked together for nearly ...

World Bank President David Malpass has said he would leave his post well before his term ends, months after running afoul of the White House for failing to say whether he accepts the scientific consensus on global warming. Malpass, appointed by former President Donald Trump, will depart the multilateral development bank, which provides billions of dollars a year in funding ...

Newly appointed Japanese Ambassador to Bangladesh, Kiminori Iwama, on Wednesday (February 15, 2023) said that he would encourage Japanese companies to expand their business in Bangladesh to help the country achieve expected economic growth. “Japan wants to be more involved in Bangladesh’s national development,” said the ambassador in a meeting with Local Government and Rural Development Minister Tajul Islam. The ...

Boeing Co (BA.N) plans to invest about $24 million in India to set up a logistics centre for airplane parts, Salil Gupte, president of the local unit told Reuters on Monday, boosting its footprint in the country amid a large plane order. India’s former state-run carrier Air India, which is now owned by Tata Group, is expected to announce a ...

To support export and import-based businesses in coping with global uncertainties induced by the Covid-19 pandemic, International Finance Corporation (IFC) is providing $50 million to Prime Bank Limited in Bangladesh. This IFC funding will support working capital, trade finance, and foreign exchange liquidity needs of export and import based entities borrowing through Prime Bank’s Offshore Banking unit, UNB reports. The ...

Rice production in the country increased to 4.4 crore metric tonnes in the fiscal year2021-22, which broke the previous records, said Agriculture Minister Dr. Muhammad Abdur Razzaque. Besides, in the past 14 years, rice production has increased by 29%, wheat by 37%, maize by 671%, potato 110%, pulse 328%, vegetables 645% and onion 395%, he said while addressing the eights ...