Business

Bangladesh is now the 35th largest economy in the world, according to a report titled ‘The Top Heavy Global Economy’, published by ‘Visual Capitalist’. Bangladesh and India were the only two South Asian countries considered to be part of the 50 largest economies in this list based on International Monetary Fund (IMF) statistics. Citing IMF statistics, Canadian online publication ‘Visual ...

A total of 18 Bangladeshi home textile manufacturing companies will take part in the four-day trade show ‘Heimtextil Frankfurt 2023’ to be held in Germany from January 10 to 13. Among the Bangladeshi exhibitors, some companies, including Debonair Padding and Quality Solution, Jaantex Industries and Innovating Fabric Ltd, will take part under Export Promotion Bureau (EPB) pavilion while the other ...

The government will sign an agreement with Saudi Arabia on January 9 on Hajj and it hopes that over 1.27 lakh Bangladeshis will be able to perform Hajj this year if the previous quota is upheld by the KSA government. Mohammad Anowar Hossain, senior public relations officer of the Religious Affairs Ministry, told UNB that a three- member team led ...

Amazon.com Inc’s layoffs will now stretch to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday. The layoff decisions, which Amazon will communicate starting Jan 18, will largely impact the company’s e-commerce and human-resources organisations, he said. The cuts amount to 6% of Amazon’s ...

Bangladesh Bank on Wednesday raised exchange rate of one US dollar by Tk 1 to Tk 100. Now, those who will buy dollars from the central bank will have to pay Tk 100 for each US dollar. The central bank increased the dollar price within a month. Earlier, the central bank fixed exchange rate of US dollar at Tk 99 ...

Managing Director and CEO of Biman Bangladesh Airlines Shafiul Azim today said he has taken a plan to turn Biman into a “smart airline” in “Smart Bangladesh” aligning with Prime Minister Sheikh Hasina’s vision. “We have made a pledge to make Biman as smart airline in the forthcoming era of ‘Smart Bangladesh,” he told reporters at a briefing on the ...

Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers, Bangladesh (ABB) have set the US dollar exchange rate for export proceeds at Tk 102. BAFEDA and ABB took the decision at a meeting on Sunday and the new rate came into effect on Monday, according to BAFEDA press release. However, the exchange rate for inward remittances has been kept ...

Bangladesh Energy Regulatory Commission (BERC) has slashed the prices of liquefied petroleum gas (LPG). A 12kg LPG cylinder will be selling now for Tk 1,232 including value-added tax, which has been sold at Tk 1,297. So, the price of 12kg LPG cylinder has gone down by Tk 65. Abdul Jalil, chairman of the BERC, announced the new prices of LPG ...

Bangladesh exported goods worth $27.22 billion in the first six months till December of the current fiscal year 2022-23 amid a growing crisis of foreign exchange, according to an official report. The country received $10.37 billion from exports only in the last two months (November and December), which is the highest ever export earnings in two months. According to the ...

For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, the head of the International Monetary Fund said on Sunday. The new year is going to be “tougher than the year we leave behind,” IMF Managing Director ...