Foreign vessels face hassles getting waivers

Operators of foreign container feeder vessels have allegedly been facing hassles obtaining waiver certificates, which are mandatory for loading cargo to and from Bangladesh.
12 October 2023, 19:11 PM

Wheat import surges

Wheat imports grew four times in the first quarter of this fiscal year as businesses showed an interest in tapping into reduced international prices of the second most-consumed grain in Bangladesh.
12 October 2023, 02:58 AM

Lending, exchange rates still not market-driven: IMF

Bangladesh Bank introduced a new formula in June to determine the lending interest rate and brought about a single exchange rate recently but both are yet to be determined by the open market, the International Monetary Fund (IMF) has said.
12 October 2023, 02:58 AM

House rent on the rise

House rent in different parts of Bangladesh rose by 5.93 percent in the April-June period of fiscal 2022-23, placing an additional burden on many lower and middle-income households, according to the Bangladesh Bureau of Statistics
11 October 2023, 20:59 PM

One country, two societies

Income inequality has widened to such an extent in Bangladesh that now it has become one country with two societies – one a low-income group and the other a high-income one, said a noted economist yesterday.
11 October 2023, 17:59 PM

BGMEA seeks NBR support for apparel competitiveness

Garment exporters yesterday urged the revenue authority to provide faster and hassle-free services so they can remain competitive in the global apparel market, according to a press statement by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
11 October 2023, 17:59 PM

Earnings from spice exports rise 25%

Bangladesh’s earnings from spice exports increased 25 percent year-on-year in the first three months of fiscal 2023-24 due to demand from expatriates of Bangladesh and other Asian countries.
11 October 2023, 01:33 AM

Tk 7,000cr scheme for farm sector kicks off

The government will today launch a Tk 7,000 crore project to boost the commercialisation of farming and accelerate agricultural exports by facilitating the expansion of safe food production.
11 October 2023, 01:03 AM

25 banks keep NPLs below 5%

With the high rate of non-performing loans (NPLs) being a major challenge for the banking sector, just 25 of the 61 commercial banks in Bangladesh are managing to keep their NPL rates below 5 percent.
11 October 2023, 00:30 AM

Malek Spinning’s subsidiary to invest nearly Tk 157cr

Malek Spinning Mills Ltd has approved an investment of around Tk 157 crore by its subsidiary, JM Fabrics Limited (JMFL), to set up facilities, including one for yarn texturising and covering.
10 October 2023, 19:00 PM

Le Méridien owner gets nod for Tk 350cr IPO

Best Holdings Limited, the owning company of Le Méridien Dhaka, Best Hotels Limited, and Dhamshur Economic Zone, has got the approval to raise Tk 350 crore by issuing ordinary shares through an initial public offering (IPO).
10 October 2023, 19:00 PM

Factories closed, yet stocks fetching good money

In inspections to identify potentials of companies which have been performing poorly over the years, Dhaka Stock Exchange (DSE) last month found factories of five listed entities closed.
10 October 2023, 18:49 PM

Long-term USD loan facility for exporters

Eighteen private commercial banks yesterday signed a deal with the Bangladesh Bank (BB) to avail funds from the central bank’s long-term financing facility (BB-LTFF) for export-oriented manufacturing companies.
10 October 2023, 18:21 PM

Now IDB pulls out of Islami Bank board

Multilateral development finance institution Islamic Development Bank (IDB) has withdrawn the directorship of its representative from the board of directors of Islami Bank Bangladesh PLC.
10 October 2023, 18:03 PM

IMF cuts Bangladesh’s economic growth forecast to 6%  

The International Monetary Fund (IMF) has revised down growth forecast for Bangladesh’s economy to 6 percent for the fiscal year 2023-24, lower from its previous projection of 6.5 percent.
10 October 2023, 09:00 AM

BSTI mark mandatory for 36 more products

The use of the Bangladesh Standards and Testing Institution’s (BSTI) standardisation mark has been made mandatory for 36 new products, including LPG cylinders, pressure cookers, microwave ovens and sweetmeats.
10 October 2023, 02:00 AM

Tea auctions in Chattogram see drop in sales, prices

Anxiety has gripped tea producers in Bangladesh as both sales and prices at the weekly international tea auction in Chattogram city are experiencing a drastic fall this season.
10 October 2023, 01:49 AM

No good news in investment as well

With major indicators showing stress in the economy, there is no good news in the investment flow too as investors now prefer to stay away from taking new projects or expanding their existing capacity.
10 October 2023, 01:00 AM

Cold storage owners get one more month for rescheduling

Bangladesh Bank yesterday gave cold storage owners another month, until November 30, to apply for rescheduling their default loans.
9 October 2023, 18:22 PM

Kazi Farms, Suguna fined Tk 8cr for unusual hike

Bangladesh Competition Commission has fined Kazi Farms Tk 5 crore and Suguna Food and Feeds Bangladesh Private Limited Tk 3.44 crore in two cases for unusual increase in broiler chicken prices in the market.
9 October 2023, 18:22 PM