LC tightening enforced in the wake of dollar crunch squeezes imports and slows economy that prompts an industry leader to urge the government to relax restrictions. A noted banker joins his voice with the business leader in calling for import acceleration, as he rues income loss for banks and the
Bangladesh and Netherlands held discussions to deepen economic cooperation between the two countries, as Prime Minister's Principal Secretary M Tofazzel Hossain Miah called on Dutch Prime Minister's Foreign and Security Adviser Ambassador Geoffrey Van Leeuwen. Leeuwen, during the meeting hel
The support and cooperation of the European Union would remain vital for Bangladesh in its pursuance of sustained economic growth in the post-LDC era. The EU is an indispensable trade and development partner of Bangladesh, and its trade preference under GSP scheme helped Bangladesh to secure b
The Malaysia-bound Bangladeshi workers need to pay extra migration cost due to a faulty recruitment system at the Malaysian end, said Expatriates' Welfare and Overseas Employment Minister Imran Ahmad on Thursday. "Why does it cost Tk 400,000 to Tk 450,000 each to go to Malaysia?" he questioned, an
Net government borrowing from domestic banks and nonbanks for deficit financing ballooned over 72 per cent in the first seven months to January of this fiscal year (FY 2023) year on year. Economists raise fears of crowding-out effect on private-sector credits-although needs there are yet limited u
The government has made electronic payment of income taxes mandatory by scrapping the provision of payment through pay order and manual treasury challan. The National Board of Revenue (NBR) on Thursday issued a statutory regulatory order (SRO) that took effect from March 23, 2023. The pre-publica
Germany will provide 7.0 million Euros to Bangladesh as a grant for ensuring the social protection of workers in the textile and leather sectors. In this regard, a bilateral agreement named "Accident Insurance for Employees in the Textile and Leather Sector (Working title: Social Protection for Wo
Apparel export from Bangladesh to the European Union (EU) increased by 35.69 per cent in 2022 compared to 2021. The import of apparel by the EU from the world grew by 20.97 per cent during this time. The EU imported $22.89 billion worth of clothing from Bangladesh in 2022, as per the statistics of
Prime Minister Sheikh Hasina on Thursday emphasised enhancing economic cooperation between Bangladesh and Vietnam for the mutual benefit of the two countries. She made the observation while outgoing Ambassador of Vietnam Pham Viet Chien called on her at her official residence Ganabhaban, PM’
Japan will provide $1.27 billion for the tranche of the Matarbari Port Development Project, Chattogram-Cox's Bazar highway improvement project, and for the construction of a dual gauge double line (railway) between Joydebpur-Ishwardi sections. In this regard, loan agreements for the projects were
Bangladesh Economic Zones Authority (BEZA) and Bangladesh China Chamber of commerce and industries (BCCCI) have signed a memorandum of understanding (MoU) to attract foreign, especially Chinese, investment in the economic zone. The main objective of the MoU titled Collaboration on promoting and br
The total labour force in the country is over 73.40 million while there are 2.63 million people who do not have jobs. The figure came in the "Labour Force Survey 2022" released by the Bangladesh Bureau of Statistics (BBS) on Wednesday. Out of the total force, men are 47.40 million and women
Malgovernance and lack of prudential management mostly caused liquidity drop in the banking sector by Tk 665.81 billion to Tk 1.37 trillion in seven months of this fiscal, said the Centre for Policy Dialogue (CPD). While presenting budget recommendations for fiscal year 2023-24, it said the crisis
