Business

The World Bank’s Board of Executive Directors on Friday approved $650 million to help Bangladesh invest in infrastructure critical for developing the Bay Terminal deep seaport. The Bay Terminal, located in the Anandangar/Sandwip channel, west of the Chittagong port and close to existing road and rail links to Dhaka, is expected to handle 36 percent of Bangladesh’s container volumes, reports ...

Bangladesh’s foreign exchange reserves have crossed US$26 billion as the International Monetary Fund (IMF) has provided $1.15 billion loans and other lenders provided $900 million. Bangladesh Bank (BB) Executive Director and Spokesperson Mezbaul Haque informed that provisional reserve figure is around $26.5 billion, reports BSS. “We have received $1.15 billion from the IMF. We also received around $900 million from ...

A possible revival in IPOs in Hong Kong after a pickup in Chinese regulatory approvals, and a string of mega deals in India are expected to make Asia a bright spot for equity deals in the second half of this year, bankers and analysts said. Despite the extended downturn in Asia initial public offerings (IPOs), India’s share in Asia equity ...

The government of Japan will provide an amount of 495 million Japanese Yen (equivalent to approximately Tk 35.25 crore or $3.21 million) for the project titled ‘The Project for Human Resource Development Scholarship (JDS)’. In this regard, Exchange of Notes and Grant Agreement were signed Wednesday between the Government of Bangladesh and Japan. Md. Shahriar Kader Siddiky, Secretary, Economic Relations ...

Ex-BHS director Dominic Chappell has been ordered to pay £50m to cover losses the firm incurred before its collapse. A High Court judge said Mr Chappell tried to “plunder the BHS Group whenever possible” after he bought the company for £1 from Sir Phillip Green in 2015. The ex-director was imprisoned for six years in 2020 over tax evasion. He ...

The Bangladesh Jeweller’s Association (Bajus) Tuesday (25 June) increased the price of gold by Tk 1,400 per bhori, followed by a price hike in the local bullion market. The new prices will come into effect from Wednesday. Gold of 22-carat was hiked by Tk 1,400 to Tk 1,18,355 per bhori (11.664 grams), 21-carat by Tk 1,341 to Tk 1,12,977, 18-carat ...

Bangladesh and Italy have agreed to further strengthen bilateral relations at the Second Political Consultations held in Dhaka. The two friendly countries launched the Political Consultations on 7 June 2023 in Rome by signing a memorandum of understanding. The holding of the second round of political consultations exactly after one year bears a testament to the robust partnership between the ...

Kaus Mia, proprietor of Hakimpuri Jorda and the highest taxpayers in Bangladesh, passed away early Tuesday at a private hspital in the capital. He was 94. He breathed his last around 12:40am at Asgar Ali Hospital, said his grandson Anwar Sadat. Kaus Mia, one of the highest taxpayers in Bangladesh for 26 years, had been sufferings from old-age complications. He ...

South Korea will provide $100 million loan to Bangladesh under the “Second Strengthening Social Resilience Programme, Sub-programme-1”. In this regard, a loan agreement was signed on Monday between the government of Bangladesh and the Korea Exim Bank, said a press release. Mirana Mahrukh, wing chief and Additional Secretary of the Economic Relations Division (ERD) and Hwang Kiyeon, executive director, Korea ...

Four members of the UK’s richest family have received prison sentences for exploiting staff brought over from India to work at their Geneva villa. Prakash and Kamal Hinduja, as well as their son Ajay and his wife Namrata, were found guilty of exploitation and illegal employment by a Swiss court and handed sentences ranging from four to four-and-a-half years. They ...