Business

Bangladesh Bank (BB) would have to maintain the net foreign exchange reserves of US$24.46 billion by June this year to qualify for receiving US$4.7 billion of loan from the International Monetary Fund (IMF). It was one of the conditions set by the IMF for receiving loans from the global lending agency. However, on Wednesday, Bangladesh Bank at a meeting told ...

Asian markets fell Tuesday on concerns over interest rates following hawkish comments by a senior Federal Reserve official indicating the central bank was likely to keep them higher for longer. Despite falling sharply over the last 12 months, US inflation remains stubbornly above the Federal Reserve’s long-term target of two percent, leading most Fed officials to predict last month that ...

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 ...