The country’s foreign exchange reserves yesterday hit a new record of $45.1 billion thanks to an upward trend of remittance and lower import payments.

Within a span of six hours last week, US President Joe Biden and Federal Reserve Chair Jerome Powell embarked on a potentially historic course, pairing massive government spending and ultra-easy monetary policy in an effort not just to rescue the economy from a recession but to reset its trajectory.

Consumers will now be able to buy a litre of edible oil at Tk 141 per litre as refiners and manufacturers have reduced the price by around 2 per cent from Tk 144.

Electric vehicle maker Tesla, facing scrutiny in China over safety and customer service complaints, is boosting its engagement with mainland regulators and beefing up its government relations team, industry sources said.

The country’s ceramic manufacturers have demanded low-cost funds on easy terms for payment of their workers’ salaries, allowances and Eid bonuses.

The Hongkong and Shanghai Banking Corporation (HSBC) and Unilever Bangladesh this month are said to have conducted their first transaction using an electronic supply chain finance platform of the lender.

The strong performance of the US economy fuelled by the Biden administration’s relief cheques to the people and the ongoing rapid vaccination holds promises for the recovery of Bangladesh’s garment shipment to its single largest export destination.

Jamuna Bank yesterday witnessed the appointment of a new chairman of its board of directors.

The government may increase its allocation for incentive expenses for remittance in the next fiscal year as it looks to retain the surge of the flow of the cheapest source of foreign currencies for Bangladesh.

Hong Kong’s economy jumped back into growth in the first quarter of the year, official figures showed Monday, ending the city’s most pronounced period of recession in its modern history.

Mobile financial services have gained immense popularity in Bangladesh, particularly among lower-income groups, but the charge to withdraw funds has remained almost unchanged since the inception of the digital platform in 2011.

The US Federal Reserve has signalled it will tolerate faster inflation for a time to cement the post-pandemic recovery and boost employment, but the side effect is likely to be a faster rise in commodity prices.

The country's foreign exchange reserves today hit a new record of $45.1 billion thanks to the upward trend of remittance and lower import payments.

The consumers will now be able to buy a litre of edible oil at Tk 141 as the refiners and manufacturers have reduced the price by Tk 3 per litre.

Finance ministers and central bank governors from China, Japan and South Korea on Monday vowed "targeted" measures for those countries most affected by the COVID-19 pandemic, and committed to foster fiscal and financial stability.

Seven West Media Ltd expects digital revenue from the agreements to start before the end of fiscal 2021, with the majority of it coming in fiscal 2022.

Stock subscriptions for the country’s first-ever small and medium enterprise (SME) to enter the stock market would run between May 16 and 20.

Investors are pouring money into stocks pinning hopes on the higher profit declarations by the listed companies for the latest quarter.

Business confidence in Bangladesh plunged to 41.39 points for the April to June quarter, the lowest level in a year, as an alarming surge in coronavirus infections has deepened uncertainty and threatened the economic recovery, according to a new survey.

Vaccine imports from India contributed to 40 per cent higher profits for Beximco Pharmaceuticals in the past nine months.