Business

Bangladesh received inward remittances of $1.97 billion in July, the first month of Fiscal year 2023-24, which saw a decline on year-on-year basis by 5.86 per cent. According to Bangladesh Bank (BB) data, the expatriates sent $2.19 billion remittance in June last month of FY23, saw a fall by 10.27 per cent in July. Despite the fall in remittance inflow ...

The sale of loose (open) soybean oil is banned from Tuesday (August 1) as it is unhealthy and lacks vitamins. The Directorate of National Consumers Right Protection (DNCRP) will remain on the field to ensure the ban on its sales as per the government’s decision. The Consumers Right teams will lead the drives across the country. On July 26, the ...

US-Bangla Airlines has become the first private carrier of the country to get the IATA Operational Safety Audit (IOSA). US-based Argus Pros acted as the auditor for US-Bangla Airlines to receive the IOSA certificate, reads a media release. The firm is one of the five audit firms worldwide designated by IATA. To receive the IOSA certificate, the airline had to ...

Talks on reviving the World Trade Organization’s dispute settlement system are making progress and drafting an agreement should begin in the coming months, a trade official source said Friday. The official said countries “have reached an understanding on 80 percent of the issues under consideration, which are now ripe to move to the drafting process”. As for the remaining 20 ...

The gold price climbed above the level of $2,000 per Troy ounce during the trading session at Comex for the first time since June 2 of this year, according to market data. The gold price had reached $2,000.4 per Troy ounce (up 0.43%) but then rolled back to $1,998 per Troy ounce, plus 0.35%. Silver prices at the same ticked ...

Russia and African countries are considering the possibility of concluding barter transactions in the energy sector, Russian Energy Minister Nikolay Shulginov told TASS on the sidelines of the Russia-Africa summit. “We are searching for ways, financing mechanisms, we are also considering barter trade,” he said. Shulginov said in an interview with TASS earlier that Russian companies are actively involved in ...

Air India on Thursday announced that it will commence its direct flights from Delhi to Dhaka from September 15. In a move to enhance connectivity between the capital cities of India and Bangladesh, Air India will fly four times a week between the two cities using its Airbus A320 aircraft, The Economic Times reports. Air India already operates flights thrice ...

The revenue collection by the National Board of Revenue (NBR) from VAT witnessed a 17 percent growth in the last fiscal year (FY23) fetching Taka 1,25,424 crore. The revenue collection from VAT by the revenue board in the previous fiscal year (FY22) was Taka 1,08,420 crore. In that consideration, the revenue collection from VAT in the FY23 was Taka 17,004 ...

Bangladesh Bank (BB) has asked banks to bring down the number of directors from the same family to three. The Bank Company (Amendment) Act 2023, which was passed in parliament recently, specified that the number of directors from a single family can’t be more than three, according to a BB circular issued on Wednesday. A maximum of four members from ...

British consumer goods giant Unilever on Tuesday said its net profit jumped more than a fifth in the first half thanks to an asset sale and price increases. Profit after tax rose 22 percent to 3.54 billion euros ($3.9 billion) in the six months to the end of June from a year earlier, said the maker of products ranging from ...