Business Desk :Bangladesh expects to receive $12 billion to $15 billion in credit support from the Asian Development Bank (ADB)...
Business Desk :The Asian Development Bank (ADB) on Tuesday announced plans to provide at least $14 billion over 2022-2025 in a comprehensive program of support to ease a worsening food crisis in Asia and the Pacific.The fund will also be used to improve long-term food security by strengthening food systems against the impacts of climate change and biodiversity loss, said a press release.The assistance expands ADB’s already significant support for food security in the region, where nearly 1.1 billion people...
Business Report :Dhaka and Chittagong bourses closed in the red for the second consecutive day on Monday as most shares fell amid investors’ persistent concern about rising inflation and continued global economic turmoil.The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), edged down 4 points, 0.06 per cent, to close at 6,510. It fell 48.84 points, 0.74 per cent on Sunday.The DSES, the shariah-based index, lost 0.02 per cent to 1,420. The DS30, the index that consists of...
Business Desk :The Bangladesh Bank lowered the interest rate on pre-finance facilities under the Program to Support Safety Retrofits and Environmental Upgrades (SREUP) from 7 per cent to 5 per cent.The 5 per cent interest will be applicable to all new and existing sub-loans under the project, according to a notice issued by the central bank on Monday.Bangladesh Bank is implementing the SREUP project with a credit line of €50 million and a donation of €10.29 million from the French...
Business Desk :The American Apparel and Footwear Association (AAFA) along with 270 other trade bodies has urged the US Congress for reactivating the Generalised System of Preferences (GSP) for the convenience of the American traders.The Congressional authorisation of GSP expired on December 31 in 2020 for all the eligible countries.As a result, American companies have paid at least $1.4 billion in extra taxes due to the GSP lapse while also dealing with Covid-19 impacts, high freight costs, and supply chain...
Business Desk :Doreen Power Generations and Systems Ltd’s profit surged more than 42 per cent in the financial year that ended on June 30 this year.The company reported consolidated earnings power share of Tk 10.31 in the last financial year from Tk 7.23 a year ago.Consolidated net asset value per share with revaluation rose to Tk 53.15 in 2021-22 from Tk 43.22 in 2020-21.Consolidated net operating cash flow per share, however, stood at Tk 32.22 in the negative compared to...
Business Desk :An 86-member business delegation from Dhaka Chamber of Commerce & Industry (DCCI) will leave for Istanbul, Türkiye on Tuesday for a 4-day visit to explore new business opportunities and investment cooperation.President of Dhaka Chamber Rizwan Rahman is leading this large business delegation, said a press release on Monday.The long-standing bilateral relations between Bangladesh and Türkiye reached a new height with increasing trade and investment cooperation in diverse areas. To steer this friendly economic relation, Dhaka Chamber is leading...