The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged businesses in Wales to invest in the textile sector of Bangladesh. 

Dhaka and Chattogram account for 90 per cent of the income tax collected from across Bangladesh each year and so, the National Board of Revenue (NBR) should work on widening the tax net, according to speakers at a seminar.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) wants to import scrapped clothes to make recycled apparel items from them as their demand is on the rise globally.

Commitments and disbursements of foreign assistance for development projects in Bangladesh fell in the July-October period of the current fiscal year, which may deepen the pressure on foreign exchange reserves.

Government statistics say there is no shortage of sugar in the market and there are sufficient stocks to last till Ramadan, which is still around four months away, said Industries Minister Nurul Majid Mahmud Humayun yesterday. 

The Bangladesh Small and Cottage Industries Corporation (BSCIC) industrial area in Bagerhat is failing to reach its full potential owing to the poor road condition, fresh water shortage and inadequate drainage system. 

Female entrepreneurs face bigger challenges compared to their male counterparts, including social stigma and a lack of access to finance, which necessitates doubling down on creativity, adaptability and vision for success, experts said yesterday.

National Bank Ltd (NBL) that raked in Tk 550 crore in annual profit a few years ago incurred unprecedented losses of Tk 357 crore in January-September of 2022 due to lower interest incomes and higher non-performing loans.  

Business leaders in Bangladesh hope the Bangabandhu Sheikh Mujibur Rahman Tunnel, being built beneath Karnaphuli river in Chattogram, will help expand the port city on both sides of the waterway as per the “One City, Two Towns” concept derived from China’s Shanghai.

Meghna Bank recently launched a Resident Foreign Currency Deposit (RFCD) service, which includes a Visa card and interest on the deposit, enabling Bangladeshis returning from abroad to easily access their own funds. 

Prime Exchange Company Pte, a subsidiary of Prime Bank, recently won a “Covid19 Hero Appreciation Award” from Remittance Association (Singapore), a platform of fund transfer businesses, for “ensuring seamless remittance service in Singapore during the pandemic”. 

The ongoing dollar crisis in the country will ease by January next year, said Salman F Rahman, private industry and investment adviser to the prime minister.

Global demand has consistently weakened this year, for multiple reasons, and the risk of recession is rising. If advanced economies were to fall into recession, developing countries in Asia would not be immune to the fallout. Policymakers in the region will need to monitor and carefully navigate a challenging economic environment to keep inflation in check and sustain growth.

Cottage, micro, small-and-medium enterprises (CMSMEs) in Bangladesh are suffering from significantly lower sales at a time when inflationary pressure has pushed up production costs, according to entrepreneurs.

Agriculture is a key sector of Bangladesh’s economy but most people never dream of becoming a farmer as even those with the slightest education hope to make a living through other professions of more repute.

Thanks to the increasing use of local raw materials, Bangladesh’s retention value from the shipment of apparel items is rising, highlighting the development of a strong backward linkage industry and less reliance on imported yarn and fabrics. 

Private companies are spearheading Bangladesh’s growth with their energy and optimism, putting the economy on a path to cross the $1-trillion mark by 2040, according to a top global consulting firm. 

Md Golam Mortuza recently joined Janata Bank as its deputy managing director.

Global payments technology company Mastercard honoured 23 financial institutions, lifestyle, food, medical and mobile operators at a Mastercard Excellence Awards 2022

The Bangladesh Jeweller’s Association (BAJUS) yesterday said it would work with the Bangladesh Financial Intelligence Unit (BFIU) to combat gold smuggling.