Business

The government’s successful negotiation of a $4.7 billion, approved at the Executive Council of the International Monetary Fund (IMF), will raise confidence in the macroeconomy amid a volatile foreign exchange market, analysts said. They said that the IMF loan program can help bring stability to the macroeconomic situation in two ways- increasing the US dollar supply and igniting a process ...

The Gross Domestic Product (GDP) growth rate in the country in the last fiscal year (FY22) reached a healthy 7.10 percent braving the shocks from the COVID-19 pandemic and the Russia-Ukraine conflict. The GDP growth rate in the country in FY21 was 6.94 percent up from 3.45 percent notched in FY20. The GDP growth rate in the country in FY19 ...

Jewellers on Saturday lowered the price of gold by Tk 1,166 to Tk 92,262 per bhori (11.664 grams) on the local market, said a press release. Standing committee on pricing and price monitoring of Bangladesh Jeweller’s Association (BAJUS) made the decision at a meeting held on Saturday. According to a press release signed by Committee chairman MA Hannan Azad, the ...

Nestle will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper, reports Reuters. The increases will not be as steep as they were in 2022, but “we have some catching up to do over the ...

Bangladesh and Brazil will work together for the further expansion of bilateral trade relations and both countries will support the industries under joint venture and joint collaboration. in this regard, a Memorandum of understanding (MoU) was signed Between the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Brazilian Trade and Investment Promotion Agency (APEXBRASIL) last Wednesday at ...

State Minister for Foreign Affairs Md Shahriar Alam has said Bangladesh and South Africa have common socio-economic development objectives and there are huge potentials to boost trade and investment. He observed that visa waiver agreement for diplomatic and official passport holders and agreement on avoidance of double taxation between Bangladesh and South Africa will facilitate contacts and increase trade and ...

Ambiente 2023, an internationally unique platform for consumer goods, began today at Frankfurt, Germany. Some 55 Bangladeshi companies have taken part to showcase their products at the five-day leading global consumer goods show, said a press release here today. Abu Mukhles Alamgir Hossain, Director (Fair and Display) of the Export Promotion Bureau (EPB), said they have been providing subsidised stalls ...

Despite facing external economic shocks that have led to a dollar crisis, Bangladesh’s export earnings and foreign remittances increased in the first month of 2023. The Export Promotion Bureau (EPB) reported that Bangladesh’s export earnings rose by 5.89 percent to reach $5.13 billion in January 2023, compared to $4.85 billion in the same period last year. Foreign remittances, a crucial ...

Samsung Electronics said Tuesday its profit for the last quarter plummeted nearly 70% as a weak global economy depressed demands for its consumer electronics products and computer memory chips. The company’s operating profit of 4.3 trillion won ($3.5 billion) for the three months through December was a 69% decline from the same period a year earlier, representing its lowest quarterly ...

Export and import activities at all customs houses and customs stations have been kept stopped as The Federation of Bangladesh Customs Clearing and Forwarding Agents Association has been observing a two-day work abstention. C&F Agents Association Secretary General Sultan Hossain Khan announced the strike at a press conference on Sunday to realise their 8-point demands. The demands includes HS Code ...