No significant economic growth is possible in Bangladesh without a satisfactory level of foreign exchange reserves, said Syed Ershad Ahmed, president the American Chamber of Commerce in Bangladesh (AmCham), yesterday.  

The exports of leather footwear from Bangladesh declined 4.28 per cent year-on-year in July-May of the ongoing financial year owing to lower orders from Europe, the main market, official figures showed. 

The Bangladesh Bank has projected that loan repayments against mid- and long-term foreign credits secured by the private sector might fall by 42.6 per cent in 2023, but the development might not bring about major relief for an economy reeling under the forex crisis.

Bangladesh’s revenue-GDP ratio is a third of the median seen in the countries that have the same credit rating, highlighting the country’s weak capacity to finance development and support growth, according to American credit ratings agency Fitch Ratings.   

Bangladesh and the World Bank yesterday signed two financing agreements totaling $858 million to enhance climate-resilient agricultural growth, food security and improve road safety.

If the bank interest rate cap is withdrawn and left to be decided by the open market, inflow of investment will be affected, said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday. 

This year, a litchi orchard in Biral upazila of Dinajpur has started shipping the tropical fruit to France, indicating the growing volume of agricultural exports from Bangladesh.

The government’s plan regarding revenue collection in fiscal year of 2023-24 was decided from a bureaucratic standpoint as it will increase pressure on lower-income groups, according to analysts. 

The government’s budget should focus on developing inland waterways with a view to cutting goods transportation costs and reducing pressure on roadways, said the top executive of a logistics and container terminal operations management company.

Extensive use of letter of credit and document collection at home offer relatively a better protection than open accounts and cash in advance when it comes to cutting the risk of trade-based money laundering, according to a research paper.

Cosmetics brand Herlan launched a “Herlan Store” at Banasree in Dhaka yesterday. 

Four new directors have been elected to the board of Meghna Bank Limited. 

Investments in improving energy efficiency must triple this decade if the world is to keep the goal of limiting global warming to 1.5 degrees Celsius (2.7 Fahrenheit) within reach, the IEA said Wednesday.

The jewellers have increased pure gold prices by Tk 1,749 a bhori for the local market with effect from tomorrow because of a rise in pure gold prices.

According to the new rates, each bhori or 11.664 grammes of 22-carat gold will be sold at Tk 98,444

Bangladesh and the World Bank today signed two financing agreements in this regard

The leader of the apex trade body says in a roundtable

The gap between inflation and the wage rate growth in Bangladesh rose to a nine-month high in May, deepening the cost-of-living crisis for the poor and the low-income groups as consumer prices continue to outpace real incomes.  

The garment sector may face some challenges in the days ahead due to persistent global trade tensions and economic slowdowns in export destinations, according to Bangladesh Bank.

Lay’s, one of the world’s most-loved potato chip brands from PepsiCo, has officially started producing its chips in Bangladesh.