Finance News: Latest Financial News, Finance News today in Bangladesh

ECNEC approves multipurpose Padma Barrage project

Decades of wait is all but over now as the government on Wednesday adopted the multipurpose Padma Barrage project meant to mitigate water-scarcity impacts in vast areas and facilitate irrigation, pisciculture and hydropower generation, officials say. The 65-year-long-stalled water-management infrastructure's first phase with an estimated cost of Tk 334.74 billion...

Fitch rates BD outlook as 'Negative' over Middle East crisis

Fitch Ratings has revised the outlook on Bangladesh's Long-Term Issuer Default Ratings (IDRs) to 'Negative' from 'Stable', while affirming the ratings at 'B+'.The outlook revision reflects Bangladesh's increased external finances and macroeconomic vulnerabilities stemming from significant exposure to the conflict in the Middle East (ME).Fitch, one of the three major...

Govt raises cowhide prices by Tk 2.0 per sqft for Eid-ul-Adha

The government has fixed the prices of salted rawhides and skins of sacrificial animals for the upcoming Eid-ul-Adha, with an increase of Tk 2.0 per square foot (sqft) compared to that of previous year.The rawhide prices of salted sacrificial cows have been fixed at Tk 62-67 per sqft in the...

Source tax on essentials set to double

Essential commodities may get costlier as the government is set to hike source tax on the same in the upcoming national budget, sources say, amid fears of inflation going further up.Currently, the tax at source on essential commodities is 0.5 per cent each on local procurement and imports.The rate might...

BB cuts penalty interest on overdue loans

The central bank has reduced the maximum penalty interest and profit rate on overdue loans and investments in a move aimed at easing financial pressure on businesses and encouraging investment amid prolonged economic sluggishness.Under the broader policy objective, Bangladesh Bank (BB) on Wednesday issued a circular instructing commercial banks to...

Urea supply fears grow ahead of Aman season

Concern over availability of urea during the upcoming Aman-cultivation season has intensified, as the state-run Bangladesh Chemical Industries Corporation (BCIC) struggles to secure sufficient imports amid the Middle East crisis and several local fertiliser factories remained shut due to gas shortage.Although Bangladesh has adequate non-urea fertiliser stocks for the next...