Business

Bangladesh Textile Mills Association (BTMA) on Tuesday urged the woven and knit garment makers to open back-to-back letters of credit (LCs) and buy yarn from the local market to reduce stockpiling of unsold yarn and save US dollar. The textile millers also demanded the government for increasing the allocation from the Export Development Fund (EDF) to US$30 million from $20 ...

New Development Bank (NDB) has successfully issued CNY 8.5 billion bond in the China Interbank Bond Market, as part of its strategy to diversify the Bank’s presence in the capital markets and mobilize resources for financing sustainable development projects. NDB established a new benchmark Panda bond transaction in the China Interbank Bond Market which surpass its previous issuance size of ...

The defaulted loans in the banking sector climbed by aboutTk10, 954 crore to Tk1,31, 621 crore in the January-March quarter. According to Bangladesh Bank (BB) the defaulted loans increased by 9 percent from three months ago and 16 percent from a year earlier, UNB reports. Despite different initiative of the central bank, defaulted loans is on a rising trend, which ...

Bangladesh Jewelers Association (BAJUS) has decided to reduce the price of gold by 1,749 per bhori following a decrease in the price of pure gold in the local market. With the latest cut, a customer will be able to buy one bhori of 22-carat gold (11.664 grammes) at Tk 96,695. The new prices will come into effect from Monday (May ...

  The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) today handed over a cheque for Tk one crore as grants to rehabilitate the traders who were affected by the recent fire incident at Bangabazar clothing market in the capital. FBCCI President Md. Jashim Uddin handed over the cheque to the BangaBazar Complex Dokan Malik Samity today at the ...

For the first time since the breakup of the Soviet Union, Russia is taking an intense interest in Cuba as Moscow has become increasingly isolated over its invasion of Ukraine, AFP reports. Top Russian officials have flocked to the island nation this year, starting in March with Nikolai Patrushev, Moscow’s secretary of the Security Council, alongside the executive director of ...

President of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) Md. Jashim Uddin took charge as the president of the SAARC Chamber of Commerce and Industry (SCCI), the apex trade body of the South Asian region, at the Hotel Intercontinental in Dhaka on Thursday. He will be serving as the SAARC Chamber president in 2023–24. The new president ...

Chinese factory Join Win (Bangladesh) Company Ltd. is going to set up a shoe accessories manufacturing industry in BEPZA Economic Zone (EZ) with an investment of US$ 10.73 million. They today signed an agreement with Bangladesh Export Processing Zones Authority (BEPZA) to this effect at BEPZA Complex in the city, said a press release. Ali Reza Mazid, Member (Investment Promotion) ...

The Cabinet Committee on Government Purchase (CCGP) has approved separate proposals for procuring some 1.80 crore liters of soyabean oil, 80,000 metric tons of fertiliser and 12,500 metric tons of sugar to meet the demand of the country. The approvals was given at the 18th meeting of the CCGP held on Wednesday (May 24, 2023) virtually with Finance Minister AHM ...

The interbank exchange rate of the US dollar has jumped to Tk108.75, amid the foreign exchange crisis in the country. Banks traded a dollar between Tk 108.50 and Tk 108.75 on Monday (May 22), down 24.28 percent from last month, Bangladesh Bank data revealed, UNB reports. The interbank exchange rate increased almost every working day this month. The rate was ...