Commercial banks witnessed a drop in foreign currencies last month from that in the preceding month mainly due to a sharp fall year-on-year in the inflow of remittance and a relatively small growth in export earnings.

Bangladesh’s stock market fell yesterday on the first day of trade after the US imposed a visa restriction. 

Bangladesh Submarine Cable Company Limited (BSCCL) is going to issue 2.21 crore ordinary shares worth Tk 166 crore to the government, which provided the fund as share money deposit when the second submarine cable was set up.

The Commercial Bank of Ceylon PLC signed a memorandum of understanding (MoU) with Partex Furniture Industries Ltd, a furniture manufacturing company in Bangladesh.

Prime Bank recently signed a strategic partnership with Le Meridien Dhaka.

Islami Bank Bangladesh PLC won the “Remittance Award” from Muktadhara New York Inc for collecting the highest amount of remittance in Bangladesh.

The Bangladesh Bank has once again lowered the US dollar retention limit that exporters have to maintain in their foreign currency accounts from the shipment proceeds as Bangladesh continues to face the shortage of the American greenback.

Emerald Oil and Minori Bangladesh joined hands with Jamuna Edible Oil Industries to produce and sell rice bran oil in the local and Japanese markets.

British American Tobacco Bangladesh (BATBC) has decided to invest nearly Tk 151 crore to construct a warehouse and set up ancillary facilities in its Savar factory. 

The United States has urged Bangladesh to take action to address the export of counterfeit clothing items from the second-largest garment supplier to the world’s largest economy.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) yesterday urged members of Action, Collaboration, Transformation (ACT) for fair pricing and ethical sourcing of garment items from Bangladesh.

Pubali Bank Limited has successfully dealt with the ongoing foreign currency crunch courtesy of timely restrictions on the import of luxurious items, foreign fruits and ornaments, said the top official of the private commercial lender.

Mohammad Ali Khokon, chairman of Maksons Group, has been re-elected unopposed as the president of Bangladesh Textile Mills Association (BTMA) yesterday for the 2023-25 tenure.

The Bangladesh Foreign Exchange Dealers' Association (Bafeda) and the Association of Bankers' Bangladesh (ABB) increased the rate at a virtual meeting

The central bank instruction came from a meeting between Governor Abdur Rouf Talukder and a delegation of the Association of Bankers Bangladesh (ABB)

The BGMEA made the demands in a letter sent to Action, Collaboration, Transformation (ACT)

Traders are allowed to keep a portion of their earnings in the export retention quota (ERQ) accounts to settle back-to-back letters of credit liabilities without facing exchange losses.

The president, three vice-presidents and 23 directors were elected unopposed

The government’s borrowing from the banking system has remained in check so far in the ongoing fiscal year thanks to lower expenditures and higher revenue collection.   

Modern Syntex Limited, a concern of TK Group, is likely to begin commercial operations of one of the largest man-made fibre plants in Bangladesh next month at the Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram.