Business

For the fiscal year 2023–2024, the International Monetary Fund (IMF) has cut its previously expected growth prediction for Bangladesh’s economy from 6.5 percent to 6 percent. A week after the World Bank cut Bangladesh’s GDP growth projection for fiscal 2023–24 to 5.6 percent due to persistently high inflation and issues with external payments, the international lender with headquarters in Washington ...

The Bangladesh Competition Commission (BCC) on Monday fined two companies Tk 8.44 crore on the charge of abnormally hiking the price of broiler chicken. Of the two institutions, the commission fined Kazi Farms Tk 5 crore and Suguna Food and Feeds Tk 3.44 crore in two cases, BCC said at a press release on Monday night. It said the companies ...

The IMF and World Bank gather in Morocco Monday for their first annual meetings on African soil in 50 years, under pressure to reform to better aid poor nations blighted by debt and climate change. The International Monetary Fund and World Bank traditionally hold their annual gathering of finance ministers and central bank governors outside their Washington headquarters every three ...

Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East. The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high owing to Saudi Arabia and Russia’s output cuts. It has ...

The Commerce Ministry on Sunday approved the import of another five crores of eggs on five conditions. Five companies were asked to import the eggs from India to the country, public relation officer of the ministry Md Hayder Ali confirmed the news to media today. To keep the prices of eggs stable in the market, the government has approved to ...

Speakers at a seminar have underscored the need for a strong ecosystem in Small and Medium Enterprises (SMEs) in a bid to boost the export capacity. They also put emphasis on ensuring technological and financial support, marketing facilities, research and innovation, product diversification and cluster-based infrastructure for the overall development of the sector. They made the remarks at a seminar ...

Bangladesh Bank (BB) on Thursday increased its lending interest rate on a 50-point basis to tame the growing trend of inflation. The Banking Regulations and Policy Department (BRPD) of the central bank issued a circular in this regard on Thursday, reports UNB. The central bank has increased the lending rate of banks by 50 basis points to 10.70 percent from ...

City Bank has once again been named the ‘Leading Partner Bank in Bangladesh’ at the Trade and Supply Chain Finance Program (TSCFP) Awards 2023 organized by Asian Development Bank (ADB). The award came in recognition of City Bank being the most active partner bank measured by the number of trade finance transactions recorded in Bangladesh in collaboration with ADB in ...

The government has approved separate proposals for procuring some 1.10 lakh metric tons of fertilizer, 30,000 metric tons of phosphoric acid and 1.30 crore liters of soybean oil to meet the growing demand of the country. The approvals came from the 33rd meeting of the Cabinet Committee on Government Purchase (CCGP) in this year held on Wednesday virtually with Finance ...

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 ...