The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday set a $100-billion apparel shipment target by 2030, which is more than double the country fetched in the just-concluded financial year.

Gas consumption will contract slightly this year due to high prices and Russian cuts to Europe, with only slow growth over coming years as consumers switch to alternatives, the IEA said Tuesday.

Egypt’s Suez Canal Authority announced Monday an all-time revenue record, earning $7 billion during the last fiscal year following a series of toll hikes for vessels transiting the vital waterway.

Automaker Maruti Suzuki India Ltd will phase out vehicles that run completely on petrol in seven to 10 years, the Economic Times newspaper reported on Monday, citing a senior executive.

Bangladesh Export Processing Zones Authority (Bepza) has paid arrears of Tk 18.11 crore of workers of A-One (BD), a factory of Dhaka Export Processing Zone (DEPZ) which has shut down.   

ADN Telecom yesterday said it is going to acquire 60 per cent of SOS Developments Ltd at an investment of Tk 2 crore.  

Sri Lanka is bankrupt and the acute pain of its unprecedented economic crisis will linger until at least the end of next year, Prime Minister Ranil Wickremesinghe told parliament Tuesday.

The Bangladesh Bank today asked banks to take up to 100 per cent of import payments in advances from businesses while opening letters of credit (LCs) for luxury and non-essential items, in an effort to keep the foreign exchange reserves stable.

Turnover at the Dhaka Stock Exchange (DSE) soared today while the benchmark index also returned to black after falling for two consecutive days.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) targets exporting $100 billion worth garment items from the country by 2030 as the local apparel suppliers are diversifying the products and markets.

Shares on the Chittagong Stock Exchange rose sharply today, helping the broader index of the bourse in the port city jump by more than 100 points within less than two hours of the day’s trading. 

Most shares on the Dhaka Stock Exchange (DSE) rose today, helping the key index add more than 50 points in the first one hour of trading. 

Like previous years, the government has been approving applications of different companies seeking to export rawhide to create demand and enable better prices, said Tapan Kanti Ghosh, senior secretary to the commerce ministry, yesterday. 

The price of rawhide is now lower compared to that two to three months ago for which the traders of Savar’s Harindhara bazar, one of the country’s hubs for raw leather, are worried over what lied in wait for them in upcoming Eid-ul-Azha.

Dhaka Bank Ltd has big plans for small and medium enterprises and retail clients as it looks to cement its position by reaching out to the under-served segments digitally, said its chairman Abdul Hai Sarker.

Stocks of Grameenphone have been falling ever since the government banned the country’s top telecom company from selling new SIM cards at a time when shares of its main competitor, Robi Axiata, have entered a bull run.

Local technology company Reve Chat is now facilitating access to information for citizens of Mexico while protecting their personal data with its AI-enabled chatbot, underscoring the Bangladesh tech industry’s growing clout in the global markets.

The government could pay additional incentives to the exporters of non-cotton apparel items in order to help them offset the severe impacts of the Russia-Ukraine war on the shipment of garment items. 

Bangladesh’s trade deficit hit a historic high of $30.81 billion in the first 11 months of the 2021-22 fiscal year, intensifying the pressure on the macroeconomic zone.

Thousands of low and middle-income urban and rural families in Bangladesh, often underserved by commercial banks, are expected to be able to take out affordable housing loans through the International Finance Corporation’s investment in the country’s first housing bond to be issued by Brac Bank.