Bangladesh is still lagging behind competitors in the production of recycled yarn although the market for such yarn is swelling, especially in tune with new environmental laws being formulated by the European Union (EU).

Farmers in Bangladesh have been left displeased with lower rainfall during the monsoon season this year as they were unable to plant Aman paddy on time due to a lack of natural irrigation.

Local vessels transported a lower number of cargoes between India and Bangladesh in the fiscal year 2022-23 than the previous year because of a decline in imports, particularly fly ash and raw materials of cement mills.

The government is pondering over whether to set up an “independent” insurance company under Bangladesh Karmachari Kallyan Board (BKKB) to provide insurance to government employees. 

The rest of the year 2023 will not fare well in terms of apparel trade measured in dollar values, said a top official of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday. 

Bangladesh Bank yesterday gave lenders in the country a higher farm loan disbursement target for fiscal year (FY) 2023-24 in an effort to ensure that farmers get enough funds to invest in increasing food production.

M Amanullah, sponsor director of Mercantile Bank, has been elected as chairman of Mercantile Exchange House (UK) Ltd in the bank’s 426th board meeting held recently.

Bangladesh General Insurance Company (BGIC) Ltd announced a 12 percent cash dividend for the year 2022.

National Bank Ltd organised a “Half-Yearly Business Review Meeting” for Chattogram region’s branch managers at the bank’s Chattogram region office in the port city yesterday.

Exim Bank recently launched a bill payment service through Bangla QR with the aim to help create cashless Bangladesh.

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The KFL Group of China has shown keen interest in investing about Tk 100 crore to establish a router manufacturing plant in Bangladesh.

Inflation fell slightly to 9.69 percent in July from 9.74 percent in the previous month thanks to the steady prices of non-food items, according to the Bangladesh Bureau of Statistics (BBS).

Beef is still selling at the going market rate of Tk 750 to Tk 800 per kilogramme (kg) in Dhaka even though the Bangladesh Dairy Farmers’ Association (BDFA) recently reduced the price by Tk 50.

The price of mild steel (MS) rod of grade 60 has gone down slightly since Thursday thanks to a decline in demand due to a slowdown in construction and physical infrastructure development works for the monsoon rains. 

The combined profits of 35 listed banks in Bangladesh dropped 9 percent year-on-year to Tk 4,160 crore during the first half of 2023 as volatility in the country’s foreign exchange market has curbed their commissions from forex dealings.

NRB Bank is planning and working to onboard digital banking facilities as well as introduce neo-banking services for its customers, according to the top official of the private bank.

The government should lay emphasis on the electricity transmission and distribution system to ensure uninterrupted supply, said Mahbubul Alam, the newly elected president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). 

Visa, the American multinational financial services corporation, sees potential in working and partnering with the government for smarter digital services for citizens and businesses. 

A committee of major oil producers recommended Friday to keep the cartel’s current output strategy unchanged after heavyweights Saudi Arabia and Russia extended their cuts despite recovering prices.