Bangladesh Bank (BB) yesterday relaxed existing rules applicable on banks’ remittance services in an attempt to increase the inflow of foreign currency and curtail volatility centring the foreign exchange market. 

Finance Minister AHM Mustafa Kamal today (August 10) said the government is evaluating the possible impact of the recent hike in price of fuel on the livelihoods of common people.

Bangladesh’s stocks plummeted today maintaining the downturn for the third consecutive session amid concerns among investors on the implication of the record fuel price hike by the government that came into effect on Saturday.

The Chattogram based Pacific Jeans Group is planning to set up rooftop solar power plants in all 10 of its manufacturing units by 2025 in a bid to get at least 20 per cent of the group’s energy requirement from renewable sources.

The currency of Bangladesh has depreciated further against the US dollar, hitting Tk 95 on the interbank platform yesterday.

Industrial production has slowed in Bangladesh, official figures showed although surging imports paint a different picture. 

The domestic stock market yesterday suffered declines in share value and turnover as investors fear that the recent hike in fuel prices will have a negative impact on listed companies.

The US dollar is on a tear, strengthening around 11 per cent since the start of the year and – for the first time in two decades – reaching parity with the euro.     

MV Rishad Rayhan yesterday became the first cargo ship to use the Mongla sea port of Bangladesh under the trial run of transshipment of Indian goods destined for the north-eastern states. 

Bangladesh Bank has ordered six banks to transfer their treasury heads to human resources departments over their role in the volatility in the country’s foreign exchange market, according to several BB officials with direct knowledge about the development.

Bangladesh Bank today asked six banks to transfer their treasury heads to human resource departments due to their alleged involvement in destabilising the country’s foreign exchange market.

The customs authority has withdrawn import duties on 43 types of Bhutanese goods to give them better market access to Bangladesh, according to a notification issued by the National Board of Revenue (NBR) recently.

The Mongla Port made a new record on August 7 when a Malaysian ship— MV Malaysia Star—reached the port in Bagerhat with 1,280 reconditioned cars from Japan in a single consignment.

Stocks in Bangladesh fell for the second consecutive day today as the investors feared the rising fuel prices may leave a negative impact on the listed manufacturing companies.

The Bangladeshi taka has depreciated further against the US dollar, hitting Tk 95 on the interbank platform today.

Most shares on the Chittagong Stock Exchange (CSE) fell for the second consecutive day today.

The Dhaka Stock Exchange (DSE) opened lower for the second consecutive day today.

Much discussion, and effort, has taken place to identify and recruit high-potential prospects and nurture these individuals to become future leaders in the workplace.

Local manufacturers now control 90 per cent of the once import-heavy prefabricated steel market thanks to capacity building and an increase of skilled manpower, according to industry insiders.

Foreign currency transactions through cards hit an all-time high of Tk 356 crore in May due to a rise in the number of travellers going abroad.