The central bank’s target to raise the public sector credit growth in the January-June half of the ongoing fiscal year may crowd out the private sector, said the Dhaka Chamber of Commerce & Industry (DCCI) yesterday.

A US court has dismissed appeals of six individuals and institutions seeking exemption from a case filed by the Bangladesh Bank in connection with their alleged involvement in the $81-million heist from the central bank reserves.

Shares on the Dhaka Stock Exchange (DSE) broke a four-day rally today despite higher participation from investors.  

The richest 1 per cent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 per cent of the world’s population holds, reveals a new Oxfam report today.

Although the overall length of a road linking the Matarbari coal-based power plant in Maheshkhali upazila to Cox’s Bazar town has reduced, the construction cost is set to increase by more 70 per cent from the initial estimate owing to poor feasibility studies.

Pran-RFL Group is going to invest in four new sectors -- $10 million in automobile parts, $3 million in stainless steel and aluminium pipe, $2.5 million in electric bike and $7 million in tableware. 

Spinners in Bangladesh are facing a shortage of waste cotton and textile scraps since a major portion of them is shipped abroad amid higher demand for recycled yarns and fabrics worldwide. 

Small export-oriented garment factories in Saidpur of Nilphamari are struggling to recover from setbacks faced during the Covid-19 pandemic, when orders from abroad took a steep dive owing to lower demand amid economic uncertainty.

A vessel with 10 metres draught berthed at a jetty of the Chattogram port for the first time yesterday, a major leap forward as the movement of larger ships is expected to cut costs and save time.

Bangladesh Bank yesterday unveiled a wishy-washy monetary policy for the next six months that will prove to be ineffective in tackling the headwinds passing through the economy.

Banks can now fix interest rate of their credit cards, Bangladesh Bank (BB) said yesterday after allowing the lenders to charge up to 12 per cent interest on consumer credit.

Bangladesh Bank yesterday relaxed the lending rate cap for consumer loans, allowing banks to hike it up to 3 percentage points from the current level.

Only 8.7 per cent of households in Bangladesh have a computer, found a government survey, underscoring the lack of access to digital devices and their unaffordability. 

Nigeria wants to expand trade with Bangladesh as the south Asian country has achieved significant development in the last decade, said Akinremi Bolaji, director for economic, trade and investment of the foreign affairs ministry of the west African nation.

Bank Asia has donated Tk 4 crore to the prime minister’s Ashrayan Project-2 Fund for underprivileged and homeless people of the country as a part of its corporate social responsibility. 

The United Arab Emirates (UAE) has decided to invest $30 billion in South Korea’s industries, South Korea’s presidential office said on Sunday, as the two countries seek to expand economic cooperation.

Prabriddhi, a local economic development project funded by Switzerland and Bangladesh, recently organised a capacity development and knowledge exchange workshop that was inaugurated by Muhammad Ibrahim, secretary to the Local Government Division in Cox’s Bazar.

City Bank has promoted Mahia Juned to the post of additional managing director (AMD).

Stocks continued to rise for a fourth consecutive session yesterday when the day’s turnover at Dhaka Stock Exchange (DSE) went on to exceed Tk 700 crore after two months with an appetite arising among some investors for making purchases. 

The Bangladesh Bank plans to promote digital banking to encourage the broad adoption of financial products and services as it looks to accelerate financial inclusion, thus moving the country towards a cashless society.