Economy

Despite sharing a long border, Bangladesh is still a very tiny source for merchandise for India due to a lack of diversification of products and non-tariff barriers. India’s annual merchandise import amounts to $500 billion, in which Bangladesh’s share is only 0.2 percent, or a little above...

Business leaders on Tuesday demanded that decisions taken by the Bangladesh Investment Development Authority should be well-coordinated among government agencies for expediting service delivery to investors. BIDA should ensure better interaction with investors, both local and foreign, to identify the problems in ease of doing business, they...

The inflow of remittances grew by more than 16 per cent in the first quarter (Q1) of this fiscal year (FY) as the government has announced a 2.0 per cent incentive on remittance receipts. The flow of inward remittances rose to US$4.51 billion during the July-September period...

Malaysian and Indonesian central banks signed a bilateral local currency swap agreement on Friday, which allows for the exchange of local currencies between the central banks of up to 2 billion U.S. dollars. Bank Negara Malaysia (BNM) said in a statement following a meeting between the two...

The jute ministry has requested the finance ministry to create an initial low-cost fund of Tk 5.0 billion out of the proposed Jute Sector Development Fund (JSDF) of Tk 100 billion. It also recommended increasing the cash incentive for jute yarn from existing 7.0 per cent to...

When Imdadul Haque was in a fix after incurring a huge loss in his fishing farm in 2015 for a heavy flood, he opted to change his business immediately. But his love for fish farming held him back. He got to know about recirculating aquaculture system, which...

The Large Taxpayers Unit (LTU) saw a drop in revenue collection in the July-August period of the current fiscal year (FY), 2019-20. The revenue collection growth took a hit as two large sectors -- gas and tobacco -- have witnessed a decline of Tk17.63 billion in revenue...

The customs authority has issued a rule to allow duty-free import of products without insurance and freight charges valued lower than Tk 2,000. The similar facility will be applicable to a product whose import duty is below Tk 2,000. The 'Customs (Deminimis) Rule-2019' will clear the way...

Profits at China’s industrial firms contracted in August, reversing the previous month’s brief gain, as weak domestic demand and the trade war with the United States weighed on corporate balance sheets. Industrial profits fell 2 percent in August from a year earlier to 517.8 billion yuan ($72.59...

The Investment Corporation of Bangladesh has sought Tk 1,000 crore in financial support from Bangladesh Bank on an “emergency basis” to inject liquidity into the ailing capital market as part of its concerted efforts to bring back investor confidence. The largest financial investor in the capital market...