Mohammad Jainul Bari, chairman of the Insurance Development and Regulatory Authority (IDRA), yesterday informed that he would resign today.

“Trade wars are good, and easy to win,” Donald Trump tweeted in March of 2018 when he was US president, just months before kicking off in earnest one of the largest trade conflicts in modern history.

Rice acreage and production in Bangladesh are likely to decline because of recent floods, which would affect paddy of the Aus and Aman seasons, said the US Department of Agriculture (USDA) at the end of last week.

The Bangladesh Bank yesterday constituted a new board of directors at IFIC Bank after dissolving the previous board, effectively bringing an end to Salman F Rahman’s grip on the private commercial bank.

Social Islami Bank Managing Director Zafar Alam and Deputy Managing Directors Habibur Rahman and Khorshed Alam resigned from their respective posts yesterday.

In the first week of July, the Bangladesh Bank and Islami Bank Bangladesh completed a US dollar-taka trade, a typical mutual currency deal, which was supposed to replenish the central bank’s dwindling forex reserves and provide the cash-strapped Shariah-based lender with some liquidity support.

In a first for Bangladesh, the country’s interim government is going to import liquified natural gas (LNG) purchased from the spot market in accordance with the Public Procurement Rules 2008.

Bangladesh Bank Governor Ahsan H Mansur requested customers to keep calm regarding the crisis plaguing over half a dozen ailing banks, expressing optimism that their situation would turn around soon.

The scope for legalising undisclosed income without facing any questions remains as the tax administration has not scrapped the provision of whitening black money in case of the purchase of flats and land, raising criticism.

Taxation rules and processes, including that for income, needs to be revised and automated to make it easy for cottage, micro, small and medium enterprises to run business, Ashraf Ahmed, president of the Dhaka Chamber of Commerce and Industry (DCCI) yesterday. 

In the first week of July, the Bangladesh Bank and Islami Bank Bangladesh completed a US dollar-taka trade, a typical mutual currency deal, which was supposed to replenish the central bank’s dwindling forex reserves and provide the cash-strapped Shariah-based lender with some liquidity support.<

Salman, a shareholder of the bank, is now in jail in connection with several cases filed over various irregularities during the Awami League’s 15-year regime.

Mohammad Jainul Bari, chairman of the Insurance Development and Regulatory Authority (IDRA), yesterday informed that he would resign today..“I have decided to resign. I will send the formal resignation letter to the Financial Institutions Division,” he said on being contacted by The Daily

Taxation rules and processes, including that for income, needs to be revised and automated to make it easy for cottage, micro, small and medium enterprises to run business, Ashraf Ahmed, president of the Dhaka Chamber of Commerce and Industry (DCCI) yesterday.

Muhammad Abdul Mazid, former chairman of the National Board of Revenue, has been appointed as the chairman of the Social Development Foundation (SDF)

Opec oil output fell in August to its lowest since January, a Reuters survey found on Monday, as unrest that disrupted Libyan supply added to the impact of ongoing voluntary supply cuts by other members and the wider Opec+ alliance.

Exporters will face higher costs when getting loans from the Export Development Fund (EDF) as a new interest rate calculation method has been introduced for loans in US dollars.

The World Bank on Tuesday raised its Indian economic growth forecast to 7 percent for the current fiscal year, from an earlier estimate of 6.6 percent, helped by government spending on infrastructure.

China’s manufacturing data put up a mixed performance in August, thus increasing the necessity of launching additional macroeconomic policy support measures to ensure the achievement of the country’s annual growth target, economists and analysts said.

After a series of abrupt labour agitations caused a rare stir in the country’s comparatively steady pharmaceutical sector, drug manufacturers said they want the government to mediate the ongoing labour situation.