Business

President of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) Md. Jashim Uddin took charge as the president of the SAARC Chamber of Commerce and Industry (SCCI), the apex trade body of the South Asian region, at the Hotel Intercontinental in Dhaka on Thursday. He will be serving as the SAARC Chamber president in 2023–24. The new president ...

Chinese factory Join Win (Bangladesh) Company Ltd. is going to set up a shoe accessories manufacturing industry in BEPZA Economic Zone (EZ) with an investment of US$ 10.73 million. They today signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex in the city, said a press release. Ali Reza Mazid, Member (Investment Promotion) ...

The Cabinet Committee on Government Purchase (CCGP) has approved separate proposals for procuring some 1.80 crore liters of soyabean oil, 80,000 metric tons of fertiliser and 12,500 metric tons of sugar to meet the demand of the country. The approvals was given at the 18th meeting of the CCGP held on Wednesday (May 24, 2023) virtually with Finance Minister AHM ...

The interbank exchange rate of the US dollar has jumped to Tk108.75, amid the foreign exchange crisis in the country. Banks traded a dollar between Tk 108.50 and Tk 108.75 on Monday (May 22), down 24.28 percent from last month, Bangladesh Bank data revealed, UNB reports. The interbank exchange rate increased almost every working day this month. The rate was ...

Agriculture Minister Md. Abdur Razzaque on Tuesday inaugurated a model house for onion preservation and expressed hopes that its successful storage will address the instability and crisis of onions in the country. “Although the country produces an excess amount of onions, one-third of it goes to waste, leading to onion shortage, abnormal prices, and the need for import from neighbouring ...

Association of Bankers, Bangladesh (ABB) Chairman and Managing Director of BRAC Bank Selim RF Hussain said the big businessmen had smuggled a lot of money in disguise of trade. He made the disclosure at a press conference organised by ABB at the head office of BRAC Bank on Monday. ABB chief said, “The issue of trade-based money laundering was not ...

City markets countrywide are once again witnessing the arrival of litchi, the succulent summer fruit loved for its unique taste, flavour and colour. The litchi farmers are optimistic about earning good profits this year due to the higher prices they are receiving compared to the past few years. However, the current price is beyond the purchasing capacity of the average ...

Agriculture Minister Md Abdur Razzaque has said a decision on onion import will be taken within two to three days after monitoring the market situation. “I know that all middle- and limited-income people are suffering. The price of onion should not be Tk 80 per kg. At the policy level, we are putting emphasis on the interests of our local ...

The British government on Friday unveiled a new £1 billion semiconductor strategy to invest in infrastructure, research and security as the UK tries to diversify its chip supply chain. The plan would “safeguard supply chains from disruption and protect tech against national security risks”, the UK government’s department for business, energy and industrial strategy said in a statement. The investment ...

India will start withdrawing its highest value currency notes from circulation, the central bank said on Friday, in a move that economists said could boost bank deposits at a time of high credit growth. The withdrawal of 2,000-rupee ($24.5) notes – which the finance ministry’s top official, T.V Somanathan, said would not cause disruption “either in normal life or in ...