Bangladesh Bank has already surpassed its fiscal 2016-17’s sales figure of US dollar in the first three months of the current fiscal year as it scrambles to prevent the slide of the taka against the greenback. “The local currency would have depreciated to Tk 85 against a dollar if the central bank had not intervened,” […]

Garment manufacturers yesterday demanded that the government ensure efficient functioning of the Chittagong port and airports and a stable power tariff for continued growth of apparel exports. “We want price predictability of electricity and gas so that we can plan for long periods in our business,” said Tapan Chowdhury, president of the Bangladesh Textile Mills […]

Commerce minister Tofail Ahmed, India’s finance minister Arun Jaitley, India’s high commissioner in Dhaka Harsh Vardhan Sringhla and Federation of Bangladesh Chambers of Commerce and Industry president Shafiul Islam Mohiuddin are seen at ‘Bangladesh India Business Meeting’ organised by the FBCCI at the Sonargoan Hotel in Dhaka on Tuesday. — New Age photo Dhaka has […]

Exports to India are not picking up despite a host of positive initiatives by both the countries. “We are struggling to cross the $1 billion-mark on export to India although India is one of the high potential markets for Bangladesh,” said Abdul Matlub Ahmad, former president of the Federation of Bangladesh Chambers of Commerce and […]

Wheat imports soared as a section of people has switched to flour in the face of high prices of staple rice, said importers. Wheat imports grew 28 percent year-on-year to 9.41 lakh tonnes from July to mid-September, according to data compiled by the food ministry. “Many people have started eating wheat flour as a substitute […]

A file photo shows a man filling up a tank of a motorcycle at a filling station in Dhaka. Import payments in the first two months of the current fiscal year (2017-2018) increased by 31.55 per cent year-on-year due mainly to surge in rice import, increase in the prices of crude oil in the international […]

World Bank country director Qimiao Fan speaks at a briefing held at the WB office in Dhaka on Wednesday. WB lead economist Zahid Hussain was present, among others. — New Age photo The World Bank has projected that Bangladesh’s economic growth might slow down to 6.4 per cent in the fiscal year 2017-18 against the […]

Domestic airlines and hotels in Cox’s Bazar are seeing a spike in occupancy as government officials, human rights activists and development workers travel to the beach town in the wake of influx of Rohingya refugees. “We are witnessing a higher number of foreign guests nowadays because of the Rohingya crisis,” said Aminul Haque Shamim, managing […]

A file photo shows men weighing paddy at a wholesale market in Brahmanbaria. The Asian Development Bank on Tuesday retained its previous lower forecast of economic growth for Bangladesh at 6.9 per cent for the current fiscal year 2017-2018 amid slower income growth in agriculture, wage employment and remittance inflows as well as weak domestic […]

A file photo shows a man arranging LPG cylinders in Dhaka. Consumption of liquefied petroleum gas in the country has been increasing at a faster pace since 2013 with growing allegations of charging higher prices and supplying the cooking gas without maintaining quality and quantity. — New Age photo Consumption of liquefied petroleum gas in […]

Rangs Group, one of the leading business conglomerates in Bangladesh, opened a vehicle assembly plant in Sonargaon on Friday to tap the fast-growing local market. The facility sprawling over 40 acres of land in Sonakhali under Sonargaon upazila of Narayanganj will initially assemble pick-ups and human haulers with completely knockdown (CKD) kits from Indian multinational […]

Spinners are facing troubles as they cannot release cotton from Chittagong port in time due to congestion that was created from the breakdown of two of the four gantry cranes in June. Cotton is an essential raw material for the garment sector, the country’s main export earner. The spinners import cotton from India, the US, […]