The government is trying to raise export income from leather and leather goods to $5 billion by 2021 with providing necessary policy support, Industries Minister Nurul Majid Mahmud Humayun said on Monday.“The global market of leather and leather goods in worth $220 billion where Bangladesh’s share is...
Former finance minister A M A Muhith has said Bangladesh's economic growth might be impacted by the slowing down of neighbouring India's economy. "To my mind, the ongoing sluggish trend of Indian economy may impact Bangladesh's Gross Domestic Product (GDP) projection," said Mr. Muhith, who had served...
Bangladesh may be able to attract new investments worth over US$ 20 billion in different sectors of the country. The member countries of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) can make the investment in those sectors having huge growth potential. Sheikh Fazle Fahim,...
The local currency has depreciated by Tk 1.0 against the US dollar so far this year in the inter-bank foreign exchange market as demand for the greenback grew. The dollar was quoted at Tk 84.90 each in the inter-bank forex market on November 27 against Tk 83.90...
Asian Development Bank is poised to provide financial support to the government to form a public asset management company (PAMC) with a view to arresting the upward trend of defaulted loans. A PAMC purchases non-performing loans (NPLs) from banks and sells them off to individuals or corporate...
Profits of most listed non-bank financial institutions (NBFIs) plummeted in the first nine months of 2019 as a result of panic stemming from the liquidation of the People’s Leasing and Financial Services (PLFS). The trepidation prompted people to withdraw deposits from the NBFIs, leading to a drop in...
Bangladesh needs to diversify its export basket and comply with the rules of the World Trade Organisation (WTO) to overcome challenges that would emerge after the country's graduation from the group of Least Developed Countries (LDCs), experts said on Sunday. They also called for providing policy support...
The Bangladesh Bank on Sunday relaxed international card-based online payment system, backtracking on its move tightening the system after just 10 days amid heavy oppositions from banks and e-commerce businesses. The central bank issued a circular waiving a provision that had made prior approval of banks a...
The country's external debt payment reached a new high of nearly $500 million in the first quarter (Q1) of this fiscal year. The quarterly debt-servicing data released by the finance division showed the repayment rose by over 24 per cent to US$ 495.2 million over the year-earlier...
Despite enormous potential of tourism in Bangladesh, the sector is facing different challenges like inadequate infrastructure, high cost of doing business and lack of branding, according to a study. Other challenges include concentrated tourist attractions, absence of promotional activity and poor certification policy, said the report prepared...