Akij Jute Mills, a concern of Akij Group, may finally get the government approval to purchase a Malaysian company along with its subsidiary for $80 million, or Tk 652 crore, making it the seventh Bangladeshi company to invest abroad. The local company intends to acquire Malaysian Robin Resources and its fully-owned subsidiary Robina Flooring — […]

People gather to buy rice and atta at reduced prices from an open market sales point in the Dhaka city on Sunday. The government on the day started open market sales of coarse varieties of rice at Tk 30 a kilogram and atta at Tk 17 a kg in the divisional towns across the country in the […]

Bangladesh’s balance of payments entered the negative territory for the first time in 16 years in July on the back of a wide mismatch in trade. The overall balance was $179 million in the deficit in the first month of fiscal 2017-18 against $480 million in the surplus a year earlier. While historical monthly data […]

The government’s long quest for overcoming gas crisis would finally be over next year when it hopes to bump up the supply by 37 percent, ridding on imports of liquefied natural gas, said the energy adviser yesterday. “There will be no gas crisis from next year,” said Prime Minister’s Energy Affairs Adviser Tawfiq-e-Elahi Chowdhury yesterday […]

In order to receive more remittance from Non Residence Bangladeshis (NRBs) through legal channels, Bangladesh Bank (BB) will give remittance award to the highest contributors and the highest remittance receiving institutions. “We will give the ‘Bangladesh Bank Remittance Award-2016’ under five categories to expedite the inflow of remittance,” the central bank’s Financial Inclusion Department General […]

Tanners are offering merchants low prices for rawhides under the excuse of having borne high investment for machinery at the newly constructed Savar leather estate, running operations there on a limited scale, of having unsold stocks and falling international prices of leather goods. The business cycle mainly centres around the Eid-ul-Azha sacrifices when over 50 […]

Exports fetched $3.64 billion in August, the highest in a single month in the country’s history, on the back of increased shipments of garment, frozen fish, agricultural and leather products. The previous monthly highest earning was recorded in June last year when exporters brought home $3.58 billion. August’s receipts, which comfortably beat the target of […]

When Bangladesh won independence from Pakistan in 1971, it was much poorer than the country it left. Industry accounted for only 6-7% of its GDP, compared with over 20% in Pakistan. The battle for independence had killed or displaced millions, damaged roads and railways, and severed ties with Pakistan’s bankers and industrialists (including the owner […]

Export earnings from the USA, the largest export destination for Bangladesh products, witnessed a healthy 17.94 per cent growth in July last compared to the corresponding month of the previous year, mainly due to the good performance of the RMG sector, reports UNB. Bangladesh exports to the USA totalled $ 497.36 million in July of […]

In order to support Bangladesh’s swift response and to assist those who have been affected by the worst flooding, the UN’s Central Emergency Response Fund (CERF) has allocated US$2.4 million to support the humanitarian response. To date, more than 720,000 houses have been damaged or destroyed, and 172 shelters in flood-affected areas are sheltering more […]