Universal Pension Scheme (UPS) is an opportune and pro-people move of the government looking to ensure inclusive and sustainable social safety net for the greater socio-economic development. The move will create a new era in the economic history of Bangladesh.

Loans, leases and investments extended by non-bank financial institutions (NBFIs) to ship manufacturers could be rescheduled for up to 10 years as the central bank took the initiative to help beleaguered borrowers resume making installments.

With a huge deficit in its financial account balance and foreign exchange reserves depleting, Bangladesh’s main challenge in the coming months will be tackling foreign exchange shocks, said economists yesterday.  

Onion prices at wholesale and retail markets in Bangladesh rose overnight yesterday after India imposed a 40 percent duty on exports of the bulb.

Bangladesh’s import of capital machinery and intermediate goods, which are used to make finished products for both local and export markets, declined in the last fiscal year, reflecting a slowdown in private investment and the economy.

The much-awaited Rooppur nuclear power plant is coming along at more or less the expected pace but the country has to wait longer to enjoy the benefits as the power evacuation facility from the plant would not be ready on time.

Buy Tickets, an online travel agency of the country, celebrated its 5th founding anniversary at its corporate office in Dhanmondi, Dhaka yesterday.

Bangladesh yesterday released two varieties of a genetically modified (GM) cotton for domestic cultivation, aiming to increase yields and reduce import dependence. 

Bengal Commercial Bank recently signed an agreement with NEC Money Transfer Ltd on remittance services.

Abdus Samad Labu has been elected as the chairman of Al-Arafah Islami Bank Ltd (AIBL) in the 390th meeting of the board of directors of the bank yesterday.

Dhaka Bank Ltd recently distributed improved seeds and agrichemicals, including fertilisers and pesticides, among 500 marginal farmers of Shailkupa upazila of Jhenaidah district as part of its corporate social responsibility programmes.

Crown Cement PLC has decided to purchase fly ash from the Matarbari 2x600 MW Ultra Super Critical Coal Fired Power Plant to ensure smooth and regular production of cement.

The diverse functionality of mobile phones is enabling people in Bangladesh to access information from various virtual platforms and thereby educate themselves on just about any topic, reducing illiteracy rates in the process.

Zakir Hossain, a resident of Swajanpur village under Phulbari upazila of Dinajpur, has succeeded in cultivating date palm trees on his native soil, paving the way for other youths in the area to try their hand at farming the fruit.

Investment has dried up in Bangladesh’s dyeing sector, a vital cog in the textile and apparel supply chain, owing to the dragging gas shortage despite higher demand for fabrics from local garment exporters, industry people say.

The SME Foundation has established a common facility centre (CFC) for shoemakers in Kaluhati village under Rajshahi’s Charghat upazila, a move that is expected to help businesses improve the quality of their products.

Walton received orders worth around Tk 250 crore from various local and overseas companies in the recently held “International Advanced Components and Technology (ATS) Expo-2023”.

Rancon FC Properties, a subsidiary of Rancon Group, handed over their environmentally friendly project styled “Casa Crown” to its clients at Nasirabad Housing in Chattogram yesterday.

Capital flight, a growing concern for Bangladesh over the past few decades, refers to the outflow of financial assets from a country. While usual outflow may also be foreign direct investment, the problem arises when the fund transferred from a country does not have proper documentation of source and there is no intend of repatriation of the fund. This leads to loss of government revenue and depletion of foreign currency reserves.

Bangladesh is registering a slow spike in the cultivation of onions during summer with the government patronising the expansion to reduce high import dependence during the lean season from October to November.