Business

Britain on Wednesday authorised oil and gas production in its largest undeveloped field to bolster its energy security, one week after the government diluted its net zero targets, triggering further condemnation by environmentalists. Norwegian oil and gas producer Equinor and Ithaca Energy, a subsidiary of Israeli group Delek, will together invest $3.8 billion in developing the Rosebank field in the ...

Macroeconomists and policy analysts have listed paying deferred dues, the tendency of FDI profits taken abroad by investors, declining inward remittance flow, capital flight, and money laundering as reasons behind Bangladesh’s foreign exchange reserves slipping to US$ 21.15 billion. Bangladesh’s foreign exchange reserves stood at $21.15 billion on Tuesday in line with the IMF reserve calculation method, Bangladesh Bank shared ...

The Bangladesh Jeweller’s Association (BAJUS) on Wednesday announced a reduction in gold prices by Tk 1,284 per bhori (11.664 grammes) as a result of a decline in the local market value of pure gold. According to a BAJUS press release, this price will be implemented from Thursday (September 28). Currently, the price of per bhori of gold stands at Tk99,960 ...

Canadian lentil sales to India have slowed since Canadian Prime Minister Justin Trudeau said last week he suspected India of involvement in an assassination on Canadian soil, fearing reprisal from New Delhi that could limit trade, industry sources in both countries say, reports Reuters. Trudeau said that Canada was “actively pursuing credible allegations” linking Indian government agents to the murder ...

Commerce Minister Tipu Munshi today urged Mexican entrepreneurs and business community to invest in Bangladesh’s Economic Zones (EZs). “In order to build a Smart Bangladesh by 2041 and make the country one of the fastest-growing economies in the Asia-Pacific region, the government has set a target to establish 100 economic zones. Many countries have already invested in the economic zones,” ...

Bangladesh Bank decided not to bring major changes in the US dollar exchange rate before the upcoming national election. The central bank’s Governor Abdur Rouf Talukder informed of this decision at a meeting with managing directors and CEOs of banks recently. At that meeting, the governor said that Bangladesh Bank will not make any policy changes regarding the dollar market ...

The government has made mandatory the submission of tax return by November 30, according to the Income Tax Act 2023. The Income Tax Act, 2023 received the President’s assent on June 22. The Income Tax Ordinance, 1984 was repealed and this new law was enacted. For informing about the new to stakeholders, National Board of Revenue (NBR) has started to ...

The Russian government named a list of more than 30 friendly and neutral countries including Bangladesh that will be allowed to trade in the Russian currency rouble and derivatives market. Russian Embassy in Dhaka confirmed on its verified facebook page on Saturday. The approved countries are Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Algeria, Bahrain, Bangladesh, Brazil, China, Cuba, ...

Sri Lanka has paid off the entirety of USD $200 million loan from Bangladesh, taken through a currency exchange agreement two years ago to survive the severe dollar shortage. In the last installment, Sri Lanka paid about $50 million and $4.5 million in interest on the loan on Thursday night, a senior official of Bangladesh Bank confirmed to UNB on ...

The Asian Development Bank (ADB) has approved a $100 million loan to improve computer science, software engineering and information technology (IT) programs in three universities in Bangladesh. “Uplifting software engineering program in higher education is the needs of time to accelerate fourth industrial revolution technology adoption and realize the vision of Digital Bangladesh,” said ADB Social Sector Economist Ryotaro Hayashi. ...