Economist Wahiduddin Mahmud says in meeting with Bangladesh Bank

The export price was $10 a kilogramme

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Potatoes, eggs and onions are not being sold at the price fixed by the government at the retail level despite government agencies conducting raids.

A persistently higher inflation for more than a year has hit the low-income, the poor and the fixed-income people in Bangladesh hard, significantly eroding their purchasing power.  

Bangladesh Bank yesterday sought assistance from bank directors in tackling the current economic crisis, including volatility in the forex market, growing inflation and lack of good governance in the banking sector. 

Although higher consumer prices have persisted in the first few months of the current fiscal year, inflation in Bangladesh is going to cool in the later part of 2023-24 thanks to one external and two domestic factors, the Asian Development Bank (ADB) forecast yesterday.

Both Bangladesh and Japan want to start formal negotiations within this year for signing an Economic Partnership Agreement (EPA), with the finalisation of guidelines for negotiations set for this week, a government official said.

The government has allowed 79 traders to export a total of 3,950 tonnes of hilsa fish to India.   

Standard Chartered Bangladesh (SCB) and Islami Bank Bangladesh PLC have received approval from Bangladesh Bank to conduct bilateral trade with India using the rupee. 

World Bank will provide Bangladesh a loan of $102 million to improve navigability of the Jamuna river and protect the river bank.

The permission will remain in place until October 30

Bangladesh's gross domestic product (GDP) is expected to grow by 6.5 percent in fiscal year 2024, compared with an estimated growth of 6.0 percent in FY 2023, it said.

The Asian Development Bank (ADB) has projected that Bangladesh's inflation will ease to 6.6 percent in the current fiscal year.

Utilisation of foreign assistance under the government’s Annual Development Programme (ADP) by ministries and divisions has slightly declined year-on-year in the first two months of fiscal year 2023-24. 

The banking sector’s lending growth squeezed in the April to June quarter owing to a shortage of liquidity at most banks and their unwillingness to extend credits to borrowers already struggling to pay back, official figures showed. 

Companies and organisations will be required to file tax returns on the income generated by employee welfare funds from the current fiscal year and pay a 27.5 percent tax on the earnings. 

Bangladesh is likely to achieve the cultivation target for Aman, the second biggest rice crop, to bag an increased amount of the grain and ensure domestic self-sufficiency amid volatility in the global market, said agricultural officials.

Nepal can be a good source of clean energy for Bangladesh, said Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Unique Hotel & Resorts PLC posted a 92 percent year-on-year increase in profit to Tk 189 crore in the year that ended on June 30 on the back of higher revenue and capital gains.