Business

Expatriate Bangladeshis sent US$1,989.87 million remittances in December, 2023 which was 17.06 per cent higher than the corresponding month of the previous year. According to the central bank data, the country received US$1,699.70 million from overseas workers in December 2023. During the July to December in the current 2023-24 fiscal year, expatriate Bangladeshis sent US$10,798.29 million remittances against US$10,493.26 million ...

The price of a 12 kg liquefied natural gas (LPG) cylinder, at the consumer level, has been increased by Tk 29 to Tk 1,433 for January. The new price will be in effect from 6pm on Tuesday. Nurul Amin, chairman of Bangladesh Energy Regulatory Commission (BERC), announced the new price at a press conference at the BERC office in the ...

China’s factory activity decline deepened in December, official data showed Sunday, as Beijing rounded off a year marked by its stuttering economic recovery from the pandemic. The official manufacturing purchasing managers’ index (PMI) — a key measure of factory output — stood at 49.0 in December, below the 50-point mark separating expansion from contraction, according to the National Bureau of ...

Banks will remain closed on January 7 to help bankers and other employees to cast their votes in the 12th national parliament election. The Bangladesh Bank issued a circular to this effect on Sunday. Earlier on December 28, the government declared January 7 (Sunday) as a general holiday for the 12th Jatiya Sangsad (JS) elections to allow the voters to ...

Establishing good governance and equality throughout all sectors is essential for realizing inclusive development aligned with the government’s economic vision, speakers at a roundtable organized by The Business Eye said on Saturday. Prominent figures in business and economics attended the roundtable titled “Inclusive Development in Bangladesh: Challenges and Opportunities,” at Jatiya Press Club. Chaired by Farida Yasmin, Editor of The ...

US President Joe Biden announced Thursday that he is extending a suspension of Trump-era steel and aluminum tariffs against the European Union (EU) for two years as negotiations continue. With the United States and the EU still far from resolving a years-long dispute over their trade in metals, Biden said he was extending a pause he put in place two ...

The customs authorities have tightened its grip on capital machinery import tagging a new condition of financial record keeping by the manufacturers following abuse of the concessionary duty facility. From now on, manufacturers will have to maintain books of accounts to avail the tax benefit on capital machinery import, according to a Statutory Regulatory Order (SRO), issued on December 22, ...

The government will purchase edible oil, lentil and wheat worth Tk 661.73 crore from local and international market. Of the amount, Tk 348.46 crore will be spent to buy wheat, while Tk 140.16 crore to buy red lentil and Tk 173.11 crore to purchase edible oil. The proposals were given approval at the 43rd meeting of the Cabinet Committee on ...

Four Bangladeshi businesses have participated in the Mandalay International Trade Fair and Investment Forum 2023 in Myanmar. The event was organised by the Mandalay Regional Chamber of Commerce and Industry (MRCCI) in collaboration with the Union Ministry of Commerce and Union Ministry of Investment and Foreign Economic Relations of Myanmar, according to a press release. The programme was held in ...

A target to produce 12.96 lakh tonnes of vegetables from 87,763 hectares of land has been set in the region including its vast Barind tract during the current winter season, officials said. Shamsul Wadud, additional director of Department of Agricultural Extension (DAE), said the target has been set to produce various kinds of winter vegetables in all eight districts under ...