Business

Bangladesh’s economy in 2024 faced major challenges, as rampant inflation not only eroded purchasing power but also overshadowed the country’s progress in other areas, underscoring the growing struggle to balance development amid rising economic pressures. The rising cost of living, driven by domestic and international factors, strained households and tested the government’s economic strategies, yet the country maintained moderate growth ...

The UK motor industry is being consulted over how the phasing-out of new petrol and diesel cars by 2030 will work, the government has announced. The ban on sales of these vehicles had been extended to 2035 under the previous Conservative government but Labour said it would restore the 2030 deadline in its election manifesto. Transport Secretary Heidi Alexander is ...

Exim Bank has cancelled its decision to merge with crisis-hit Padma Bank, it was revealed Tuesday morning, ending the plans for the country’s first bank merger. Earlier on 14 March, it was decided Padma Bank would be merged with Exim Bank after a Tk1,700 crore government bailout package failed to bear fruit. On 18 March, a memorandum of understanding (MoU) ...

The UK economy had zero growth between July and September, revised official figures show. The revised data comes after a series of disappointing figures including inflation rising at its fastest pace for eight months and the economy unexpectedly shrinking in October. One of the UK’s leading business groups, the CBI, said its latest company survey suggested “the economy is headed ...

A Chinese company named Ding Yu (BD) Enterprise Ltd will invest US$ 28.92 million in BEPZA Economic Zone (BEPZA EZ) to establish a garments manufacturing industry. Bangladesh Export Processing Zones Authority (BEPZA) Member (Investment Promotion) Md. Ashraful Kabir and Managing Director of Ding Yu (BD) Enterprise Ltd. Zhuofan Cai signed the agreement on behalf of their respective organizations signed an ...

Bangladesh has received $2 billion (equivalent to more than Tk 24,000 crore at the exchange rate of approximately Tk 120 per dollar) in remittances in three weeks of December through legal channels. The information was revealed in the latest report of Bangladesh Bank, published on Sunday (December 15). The average daily inflow stands at $95.2 million or Tk 1,142 crore. ...

Strong winds are continuing to cause some travel disruption in parts of the UK as millions of people travel ahead of Christmas. Heathrow said around 100 flights had been cancelled on Sunday and passengers are advised to check with their airline before travelling. The weather has also led to the cancellation of some ferry services, road closures to high-sided vehicles ...

Albanian Prime Minister Edi Rama said Saturday the government would shut down social network TikTok for at least a year from 2025. “We are going to chase this thug out of our neighbourhood for one year”, Rama told a meeting with Albanian teachers, parents and psychologists in Tirana. The government would launch programmes to “serve the education of students and ...

The transformation of the garment industry in Bangladesh is an important occasion. FM and JACK launched the new sewing machine Urus C7 and AMH to achieve that goal. The event was organised at a hotel in Chittagong. The machine is capable of “small order, quick response and demand-based production”. The whole event was organised by FM Bangladesh and JACK to ...

The World Bank’s Board of Executive Directors has approved three operations totaling US$1.16 billion to help Bangladesh improve health services, boost water and sanitation services and achieve greener and climate-resilient development. “Bangladesh is among the most vulnerable countries to climate change and faces the greatest pollution challenges. Improving climate resilience in every sector and tackling the pollution scourge has become ...