Buoyed by the government policy aimed at developing the motorcycle industry, local companies are gradually making a foray into the component manufacturing segment with a view to cutting the country’s reliance on imports.

Euro zone industrial production was stronger than expected in April, driven by a more than doubling of durable consumer goods output from a year earlier as economies steadily reopened after Covid-19 pandemic lockdowns, data showed on Monday.

Local garment exporters are feeling the pinch of a sudden unusual rise in yarn prices in the local and international markets, a development that is threatening to derail the recovery of the apparel shipment from the pandemic-induced slowdown.

The European Union on Monday hired banks for a 10-year bond sale, the first to finance its recovery fund, according to two lead managers, a crucial step in financing the bloc’s economic recovery from the coronavirus pandemic.

Bitcoin surged 9.8% to $39,035.47 on Sunday, adding $3,492.71 to its previous close.

Mercantile Bank has recently launched digital banking app “MBL Rainbow”, saying it would ensure faster, safer and convenient banking activities doing away with the need for physical presence.

The average age of US cars and light trucks rose to a record 12.1 years in 2020, as Americans drove fewer miles and scrapped more vehicles during the Covid-19 pandemic, according to IHS Markit.

India’s wholesale price inflation accelerated to 12.94 per cent year-on-year in May, versus 10.49 per cent year-on-year in April, mainly due to a spike in energy prices, government data showed on Monday. Fuel prices accelerated by 37.61 per cent year-on-year in May, the data showed.

Bangladesh has been re-elected as a deputy member of the governing body of the International Labour Organisation (ILO) from the Asia-Pacific region for 2021-2024.

The Bangladesh Export Processing Zones Authority (Bepza) has started allotting plots of the Bepza Economic Zone in Mirsharai among the investors.

ACI Motors, a subsidiary of ACI, is going to receive Tk 83.99 crore in foreign investment, which the company will use for the expansion of its business.

Bangladesh Small and Cottage Industries Corporation (BSCIC) inaugurated its “one-stop service” yesterday to attract domestic and foreign investment.

Shareholders of Ring Shine Textiles were all smiles after news broke that the company would partly resume production after about nine months’ closure.

Only 14 per cent allocation of the annual development programme for the fiscal year of 2021-22 will directly contribute to the development of youths although they make up a majority of the population, according to a think-tank yesterday.

Around 90 per cent of people of Bangladesh are forced to buy low-quality products when the prices increase as their incomes do not go up in keeping with the upward movement of basic items’ prices, speakers said yesterday.

The ICT Division will likely commence an IT audit on banks next month to measure their capability to thwart cyberattacks as growing digitalisation and remote working arrangements have augmented the financial sector’s exposure to online crimes.

The central bank yesterday drew up a detailed guideline on post-import financing (PIF) to end the misuse of loans extended to pay for imported goods and bring discipline in the foreign exchange regime in the banking industry.

The proposed budget for the 2021-2022 fiscal year acknowledges the Fourth Industrial Revolution and calls for strategies to create IT entrepreneurs and jobs for Bangladeshis abroad.

The stock market took a dip yesterday thanks to the profit booking tendency among investors with the insurance sector leading the plunge. The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 30.58 points, or 0.50 per cent, to 6,036.

Various experts yesterday stressed the need to review the vaccination roadmap to bring most of the population under its coverage in the shortest possible time as mass inoculation is the only way to get rid of the ongoing Covid-19 pandemic.