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Economy

Govt planning record budget for 2016-17

The Bangladesh government has planned a national budget of 3.40 trillion taka ($43 billion) for the next fiscal year (2016-17), the country's finance minister said here on Thursday. Muhithmuhith "We're planning a 3.40 billion taka national budget for the 2016-17 fiscal (July 2016-June 2017)," Finance Minister A.M.A. Muhith said. He, however, did not elaborate on the new fiscal year budget which is to be unveiled in parliament in the first week of June, Xinhua news agency reported. The Bangladesh parliament in June 2015 ...

BD-US trade rises 8.5pc to $ 7b in 2015 – embassy

Trade between Bangladesh and the United States rose 8.5 percent to almost $7 billion in 2015, a U.S. embassy official said on Tuesday. Exports from Bangladesh accounted for $6 billion of the total, and 90 percent of that was clothing, said Andrea Brouillette-Rodriguez, counselor at the embassy, told a news conference ahead of a trade show beginning on Thursday. She said the United States accounted for a US-bdquarter of all Bangladesh's exports. U.S. investment in Bangladesh rose to about $2 billion in 2015 from $1.5 billion the y...

Forex reserves hit record $ 28bn

Bangladesh's foreign exchange reserves hit a record $28.06 billion at the end of February, the central bank said on Tuesday, fuelled by steady exports and lower import costs due to falling global commodities prices. forexx The reserves, sufficient to cover seven months' worth of imports, are nearly 22 percent higher than during the same period last year. Rising garment exports and steady remittances from Bangladesh nationals working overseas, two mainstay revenue generators for the country of 160 million people, have helpe...

‘Planet Solutions’ — energy financing loan initiates

BRAC Bank launched 'Planet Solutions', Bangladesh's First Energy Efficiency Financing Loan to assist readymade garments and textile industries to invest in energy efficiency technology. The loan is targeted to the RMG & textile industry who will invest in energy efficiency technology and the Technology Service Provider Companies who provide energy efficiency solutions. Mr. S K Sur Chowdhury, Deputy Governor, Bangladesh Bank, and Mr. Selim R. F. Hussain, Managing Director & CEO, BRAC Bank Limited, formally launched the loan product at a

PM inaugurates development activities of 10 economic zones

Prime Minister Sheikh Hasina Sunday inaugurated the development activities of 10 more economic zones in the country. Through a video conference from a function in Dhaka’s Bangabandhu International Conference Centre (BICC) also known as Bangladesh China Friendship Conference Center, Hasina inaugurated the development activities at the economic zones, reports Xinhua. They are Mirersarai Economic Zone, Sabrang Tourism Park, Srihatta Economic Zone, Mongla Hasina1Economic Zone, AK Khan Economic Zone, Abdul Monem Economic Zone,...

BD set to become AIIB founding member

Bangladesh is set to become a founding member of the Chinese-government initiated Asian Infrastructure Investment Bank (AIIB) as the country’s parliament has passed a bill in this connection, the media reported on Thursday. [caption id="attachment_13856" align="alignleft" width="597"]AIIB AIIB Meet: File Photo[/caption] “We’re now all set to join the bank as a founding member as our parliament on Wednesday night passed the Asian Infrastructure Investment Bank Bill 2016,” said a senior finance ministry official. The official said the country wi...
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