Commercial banks in Bangladesh will have to perform their foreign currency clearing activities through the Real-Time Gross Settlement (RTGS) of the central bank from September 4.  

The National Board of Revenue (NBR) reduced import tariff on rice further by 10 percentage points to over 15 per cent to facilitate imports of the staple grains and contain its prices in the domestic market.

The National Board of Revenue (NBR) today reduced import tariff on diesel by 11.25 percentage points in order to cut import cost of the key fuel.

Turnover on the Dhaka Stock Exchange crossed Tk 2,000 crore mark today thanks to the higher participation from general investors.

Shares on the Chittagong Stock Exchange (CSE) rose today.

Shares on the Dhaka Stock Exchange (DSE) opened higher today, the first trading day of the week.

Sugarcane production and acreages in Bangladesh have more than halved in the last two decades as farmers find it difficult to generate a steady stream of profit from the crop, official figures showed.  

The government is negotiating with Qatar seeking long-term contracts for the import of liquefied natural gas (LNG) as prices have abnormally climbed in international spot markets, said Salman F Rahman, the prime minister’s private industry and investment adviser, yesterday. 

The market will determine the price of the US dollar in the future once the current situation centring it improves, according to Bangladesh Bank Governor Abdur Rouf Talukder.

CHALLENGES IN FINANCIAL SECTOR

Transcom Electronics Limited (TEL), a leading retailer and distributor, has launched a new branded television in Bangladesh in partnership with Chinese electronics company TCL.

The price of liquid milk has again increased by Tk 10 per litre while half-litre packs will now cost Tk 5 more as leading producers have raised the maximum retail price of their products by 12.5 per cent. 

Bangladesh’s economy is experiencing stress because of the pressure on the foreign exchange reserves, but the situation is not as alarming as many think, said top brass in the financial sector yesterday. 

Chinese mobile phone manufacturer Xiaomi had the biggest market share in Bangladesh in the second quarter of 2022, according to Counterpoint, a global technology market research firm.

Social protection programmes need to be strengthened and expanded across Asia to prepare for the impacts of climate change.

Md Abdur Rashid, who lives in Jugihuda village under Moheshpur upazila of Jhenaidah, has been enjoying great success in grape farming, which was once thought to be impossible in Bangladesh given the country’s soil and climate conditions.

The government has formulated a draft law to regulate logistics companies, which will establish stiff control and impede growth in the industry, according to market players.

Bangladesh will again raise the issue of the reinstatement of the Generalised System of Preferences (GSP) of the US in the Trade and Investment Cooperation Forum Agreement (Ticfa) meeting in Washington in November, said Tapan Kanti Ghosh, senior secretary to the commerce ministry, yesterday. 

Import bills rose 63 per cent year-on-year to $7.66 billion in July but it declined from a month ago, signalling the easing of international payment pressure thanks to the recent Bangladesh Bank efforts to cool down the volatile foreign exchange market. 

Landless, small and marginal farmers as well as share-croppers in Bangladesh could be given loans up to Tk 2 lakh without any collateral under the central bank’s Tk 1,000 crore refinance scheme aimed at boosting wheat and maize production.