Scrap vessel imports by Bangladesh hit a four-year low in 2022 as banks in the country have become reluctant to open letters of credit amid the ongoing US dollar shortage, according to industry people.

The Asian Development Bank (ADB) has showed its intention to mobilise $3.5 billion along with a co-financier for the implementation of the southern route of the Dhaka Mass Rapid Development Project’s MRT Line-5, officials said.

Start-ups in Bangladesh went through a tough time in 2022 owing to the uncertainty in the global economy, but gloomier days for them might not go away any time soon since the decline in global investments is set to linger.

Bangladesh is among the top three nations contributing to the active user growth for Facebook as of December 31, 2022, according to its parent social media giant Meta. 

Standard Bank has recently appointed a new managing director (MD) and chief executive officer. 

For the first time in more than three months, Bangladesh Jewellers Samity (Bajus) yesterday reduced the price of gold by 1.24 per cent or Tk 1,166 per bhori in line with a fall in the price of the precious metal in the local market. 

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 ongoing economic shocks Bangladesh is experiencing have not been entirely generated from the external source and many of them instead are the consequences of the absence of time-befitting measures on the part of the country, said economists yesterday.

For the first time in more than three months, Bangladesh Jewellers Samity (Bajus) today reduced the price of gold by 1.24 percent or Tk 1,166 per bhori in line with a fall in the price of the precious metal in the local market.

The immediate outlook for the new year is not as bad as had been predicted before. The Chinese economy is opening up, the industrialised West is adjusting and realigning their economies to the new realities, and a global economic recession does no longer seems inevitable.

Bangladesh would hardly have needed to go for a sudden hike in fuel prices last year had the government waived value added tax (VAT) on petroleum, Eminent Economist Wahiduddin Mahmud said today.

Keya Islam, who lives in Radhanagar village under Pabna sadar upazila, had started her hand embroidery business about a decade ago in order to help provide for her family.

The Mobile Phone Industry Owners' Association of Bangladesh has recently sent a letter to the telecom regulator seeking more time to preinstall Bijoy software, saying that it requires a different set of tests as well as additional investments. 

Despite the persisting volatility in the global economy and higher  consumer prices in the western markets, Bangladesh’s merchandise shipment grew 5.89 per cent year-on-year to $5.13 billion in January, official data showed yesterday.

Opening of letters of credit (LCs) for importing essential commodities meant for Ramadan increased in January, a development that is expected to increase supply of the items during the fasting month, said Bangladesh Bank yesterday.

Stocks in Bangladesh yesterday rose for the second day in a row as the International Monetary Fund’s recent decision to provide a $4.7 billion loan has allayed concerns about the country’s potential economic condition in the coming days.

United Commercial Bank (UCB) and the Asset Developments & Holdings have signed two memoranda of understanding (MoUs) recently over payroll services for the developer’s employees and preferential benefits on flat purchases by the lender’s employees. 

The South Asian Network on Economic Modeling (Sanem) is going to organise a two-day Annual

The prices of fertiliser, seeds and other agricultural inputs will not be raised further to ensure continuous production and sustainable security of food, Agriculture Minister Muhammad Abdur Razzaque said yesterday.

Once upon a time, there was a man who always bragged about his smartness. One day he came across an old man from his village and boasted, “I am the smartest man in the world. Nobody can match my intelligence.”