Business

Bangladesh Bank (BB) has inked deals with six private commercial banks for the Bangladesh Bank-Long Term Financing Facility (BB-LTFF). These banks are Al-Arafah Islami Bank PLC, IFIC Bank PLC, Mercantile Bank PLC, Madhumati Bank Limited, Meghna Bank PLC and NRB Commercial Bank PLC. The deals were signed during a ceremony held at the Bangladesh Bank headquarters in city’s Motijheel area ...

Global Islami Bank (GIB) formally opens its new Agent Banking Outlet namely Choker Hat at Birol, Dinajpur on Monday, says a press release. Kazi Mashiur Rahman Jayhad, Additional Managing Director of the Bank inaugurated the operation of the outlet as chief guest. Deputy Managing Directors Ataus Samad and Sami Karim and Head of General Services Division Zulfiquar Ali Khan, Head ...

Onion prices dropped by Tk 40 per kg on Monday, thanks to the arrival of newly harvested Murikata and summer varieties in the markets, market sources said. On Monday, Murikata onion was retailing at Tk 100 per kg, imported onion at Tk 180, and local variety at Tk 200 per kg. A day before, Murikata onion was selling at Tk140, ...

In response to the surge in onion prices in the market, country’s apex trade body FBCCI President Mahbubul Alam has advocated for the import of onions from alternative markets if necessary to stabilize supply chain and price. He said onion import from alternative markets could be considered to maintain a reasonable price for onions and ensure smooth functioning of essential ...

Smile Direct Club has shut down months after filing for bankruptcy in the US, leaving some customers confused and stranded as their treatment is ongoing. Best known for selling clear aligners remotely, the firm said it had made the “incredibly difficult decision” to wind down operations late on Friday. The US-based dentistry company was offering aligners for about £1,800 without ...

A US senator has called for a government investigation into the impact on national security of garlic imports from China. Republican Senator Rick Scott has written to the commerce secretary, claiming Chinese garlic is unsafe, citing unsanitary production methods. China is the world’s biggest exporter of fresh and chilled garlic and the US is a major consumer. But the trade ...

The Asian Development Bank (ADB) today approved a US$400 million policy-based loan to support Bangladesh in implementing its National Adaptation Plan, 2023-2050 and Nationally Determined Contributions 2021 Update to the Paris Agreement to achieve a climate-focused inclusive development. Bangladesh is one of the world’s most vulnerable countries to the adverse impacts of climate change, recording an annual average loss of ...

India has banned the export of onions to other countries effective from December 8, says a notification issued by the Indian Ministry of Commerce and Industry on Thursday. The ban on export of onion will be in place till March 31 next year, according to the notification. The decision has been made to increase domestic availability and to keep prices ...

House prices rose again last month and there are signs that activity in the market is picking up, according to the UK’s biggest mortgage lender. Halifax said prices rose by 0.5% in November, the second increase in a row. It said recent figures for mortgage approvals suggested “a slight uptick” in activity among buyers as the cost of home loans ...

A lack of freedom and justice leads to a negative impact on development, so governments should work to ensure them through good governance, rule of law and institutionalisation, said SR Osmani, a professor of development economics at the University of Ulster in the UK. Planning Minister MA Mannan, however, gave examples of countries that have developed significantly despite their governments ...