Business

“Don’t expect miracles. But do know – everyone wants this to work.” On Monday in London the EU and UK hold their first bilateral summit since Brexit. Symbolically, this is a big moment. Officials and analysts I speak to, on and off the record, like the individual I just quoted, are quick to point out difficulties that exist between the ...

Commerce Adviser Sk Bashir Uddin today said the trade between Bangladesh and India will continue in the interest of the consumers and the businesses of both countries. “We don’t know anything officially about India’s steps yet. Once we do, we will take appropriate steps. If any issue arises, both sides will work to resolve those through discussions,” he said while ...

Bangladesh must upgrade from the least developed country (LDC) status by 2026 even if it’s challenging, Finance Adviser Salehuddin Ahmed said today (17 May). The adviser made the remark while speaking as the chief guest at the launching event of five new card services by Mercantile Bank in association with Mastercard at the Radisson Blu Water Garden in the capital. ...

The United States lost its last triple-A credit rating from a major agency Friday as Moody’s announced a downgrade, citing rising levels of government debt and dealing a blow to Donald Trump’s narrative of economic strength and prosperity. The downgrade to Aa1 from Aaa adds to the bad news for the US president, coming on the same day his flagship ...

The US dollar price for import Letter of Credit (LC) has remained stable at around Taka 122 despite implementation of market-based exchange rate, reports BSS. On Wednesday, Bangladesh Bank (BB) finally announced a shift to a market-based exchange rate system, allowing market participants to trade dollars at freely negotiated rates to get IMF loan confirmation. To this end, the treasury ...

Internet prices at the ISP (Internet Service Provider) and IIG (International Internet Gateway) levels will be reduced by 20% from July this year, said Chief Adviser’s Special Assistant Faiz Ahmed Taiyeb for Post, Telecommunications and Information Technology, reports UNB. Faiz Taiyeb came up with the announcement at a press conference held at the BTRC building in Agargaon on Thursday, marking ...

The World Bank’s Board of Executive Directors on Wednesday approved $270 million financing to bolster Bangladesh’s flood recovery efforts and enhance its resilience to future disasters, including support for constructing and rehabilitating critical infrastructure, strengthening agricultural system and improving livelihoods in areas devastated by the August 2024 floods, reports AFP. The Bangladesh Sustainable Recovery, Emergency Preparedness and Response (B-STRONG) Project ...

Bangladesh Bank (BB) Governor Ahsan H Mansur has announced that the dollar rate will be determined by market forces. However, he believes that the rate to remain stable due to strong inflows from exports and remittances. Ahsan H Mansur made the announcement during a virtual briefing.

The International Monetary Fund (IMF) has finally agreed to disburse the next two tranches of its $4.7 billion loan package for Bangladesh, amounting to $1.3 billion, in June. The decision follows a series of meetings held in Washington between Bangladesh Bank Governor Dr Ahsan H Mansur and senior IMF officials, according to the central bank spokesperson. The funds had previously ...

The government has dissolved the National Board of Revenue (NBR), maintaining strict secrecy. The restructuring was enacted through an ordinance early Tuesday. Now, the NBR has split into two separate entities– the Revenue Policy Division and the Revenue Administration Division. The ordinance, approved by the Advisory Council on April 17, was formally issued on Tuesday—25 days after the initial approval. ...