Business

Bangladesh made a strong economic recovery from the COVID-19 pandemic and progressed in reducing poverty, says the World Bank in its twice-a-year update. The latest Bangladesh Development Update titled ‘New Frontiers in Poverty Reduction’ released by the World Bank on Tuesday at its premises in the capital. The World Bank said reforms to address inflation, through monetary and fiscal policies, as ...

Bangladesh Energy Regulatory Commission (BERC) has hiked the price of 12 kg LPG (liquefied petroleum gas) cylinder by Tk 79 to Tk 1,363. The new rate will come into effect from 6pm on Monday (October 2). The BERC announced the new prices of 12kg LPG cylinders today in Karwan Bazar’s TCB Bhaban. The price of ‘auto gas’ has also been ...

A total of 12 industrial units in six categories will get ‘Bangabandhu Sheikh Mujib Industrial Award-2022’ for their outstanding contribution in the industrial sector. President Mohammed Shahabuddin will hand over the golden crest, money and certificates to the representatives of the organisations at a function at the Osmani Memorial Auditorium in the city on Tuesday, says a press release. Agriculture ...

The price of gold (22-carat) has been reduced by Tk 1,749 a bhori for the domestic market. According to a press release from the Bangladesh Jewellers Samity (BAJUS), the new rate will be effective from Sunday (October 1). Now, the price of one bhori of 22-carat gold (11.664 grams) will be Tk 98,211 21-carat Tk 93,779, 18-carat Tk 80,365, and ...

IFIC Bank has arranged remittance roadshows at four places in New York, USA to encourage fast, easy, and secure remittance exchange through legitimate banking channels. The places were Queens, Jamaica, Bronx and Brooklyn. The roadshow were started from September 24 and ended September 28, said a press release. IFIC Bank directors ARM Nazmus Sakib, Md Golam Mostofa, Sudhanshu Sekhar Biswas ...

The first batch of fresh uranium, the nuclear fuel of the first unit of Rooppur nuclear power plant, is being taken to the project site at Rooppur in Ishwardi in Pabna by road from Dhaka. The vehicles, carrying the fresh uranium, started its journey for Pabna in the morning under special security arrangements. The vehicles crossed the Bangabandhu Bridge on ...

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 ...