Sohel Parvez

The government has eased the rule of compulsory fumigation test for import of American cotton, particularly from the United States, clearing the ways for smooth import of the raw material of textile mills, the backward linkage industry for country’s main export earning garments.

Nearly a year ago when President Vladimir Putin launched a full-scale invasion of Ukraine, many had thought that the war would end soon

Russia and Ukraine have become major sources of wheat for Bangladesh after India’s ban of its shipment, thanks to a United Nations and Turkey brokered grain deal that allowed moving the cereal from Ukraine over the Black Sea. 

Crop protection chemical sellers in Bangladesh are facing difficulty in opening letters of credit amid banks’ lack of interest owing to the crunch of the US dollar.

A shipping ministry rule issued last week stipulating that only Bangladesh Shipping Corporation (BSC) will be able to carry goods imported by the government has created frustration among private oceangoing ship operators. 

Potato acreage has declined to a seven-year low this season as many farmers switched to other crops, particularly mustard, as the production cost of the oilseed is lower than the tuber while its prices are more attractive.

Tax collection growth slowed drastically in the first half of the current fiscal year due to falling customs tariff and direct taxes amid declining imports and reduced profits of firms, limiting the government’s scope to spend on development activities.

Earnings from jute exports from Bangladesh slumped for the second consecutive year in July-January, raising concerns for the promising industry, one of the few sectors for which raw materials are locally available.     

Raising fund by issuing bonds is a very good option for the non-bank financial sector and banks as medium and long-term debts will reduce overall costs, said a top executive of LankaBangla Finance. 

The US Department of Agriculture (USDA) has revised upward its forecast regarding Bangladesh’s rice production in the marketing year (MY) 2022-23 beginning from last May.

Meghna Group of Industries (MGI) and TK Group, two major commodity processors in Bangladesh, are set to enter into the milling and marketing of rice, a move that may intensify competition but drive small operators out of the market.

At the beginning of 2022, businesses were upbeat and many of them thought that the worst stemming from the losses induced by the coronavirus pandemic was finally over. That was short-lived. 

Farmers, buoyed by soaring prices of flour in the domestic market because of the decline in imports, have brought more areas under wheat cultivation this season in a welcoming development.  

Bangladesh launched its first metro rail on December 28. Albeit it is running on a limited scale at present, it holds the promise of offering a fast-commuting experience to thousands of people every day and contributing to ridding the capital city of notorious traffic congestion.  

Bangladesh’s entrepreneurs, encouraged by prospects, tax and VAT benefits, expanded their capacity in oceangoing shipping sector, with the total number of vessels rising to 91, the highest so far, at the end of 2022 from 80 ships a year ago. 

The year 2022 had been a good year for Bangladesh’s two local airlines thanks to increased flow of travellers after the authorities lifted pandemic-related restrictions.

For the first time since December 2020, private sector borrowing from external sources declined as the appetite among firms eroded for increased borrowing costs.

When Abdul Haque woke up at dawn yesterday, not even the bone-chilling cold or the fog could stop him from getting out onto the field.

In 2022, Bangladesh’s consumers had to buy edible oil by paying historic high prices because of record prices in the international market and the country’s high dependence on imports to meet its demand.

Non-bank financial institutions (NBFIs) have been witnessing a persistent fall in deposits for the past one year as many clients withdrew their savings to manage expenses amid the soaring cost of living and lower returns.