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

Market-driven forex rate with $500m guardrails decided

Bangladesh finally moves towards market-driven exchange rate, with US$500-million guardrails against instability on the foreign-exchange market, to remove a last roadblock to IMF loan payout worth $1.3 billion. Foreign financiers have now confirmed providing an aggregate sum of $3.5 billion for budget-deficit financing by June, Bangladesh Bank Governor Dr Ahsan...

World-class firms to operate Ctg port: CA

CHATTOGRAM, May 14 (BSS): Chief Adviser Professor Muhammad Yunus said on Wednesday the Interim Government had taken initiatives to turn Chittagong Port into a world-class one by entrusting its management to global operators.He said this while speaking at the New Mooring Container Terminal of the seaport.The Chief Adviser arrived in...

Titas proposes Tk 81b project to reduce gas wastage

Titas Gas Transmission and Distribution PLC wants to implement an ambitious Tk 81.61 billion project to reduce gas wastage by installing around 2,781 kilometres of new distribution lines and upgrading 5,000 kilometres of existing ones in the Dhaka, Gazipur, and Narayanganj city corporation areas.The New Development Bank (NDB), established by...

IMF for immediate execution of new forex regime, revenue reforms

On striking a delayed fund-release deal with Bangladesh, the International Monetary Fund (IMF) wants quicker implementation of an agreed new exchange-rate regime and tax reforms for boosting revenue generation.As the IMF desire for dos was made known Wednesday, the interim government here had already dissolved the revenue board to create...

German co Sonnex to set up 500MW Solar PV module hub in Bangladesh

With dozens of solar power plants in the establishment stage, a German company has come forward to set up a 500-megawatt (MW) Solar PV module-manufacturing hub in Bangladesh to tap the market potential here.Sonnex Energie GmbH is a premium quality and high efficiency solar module maker which in the first...

Probe begins into nine banks' dubious forex dealings

A special regulatory probe into nine commercial banks with higher exposure to the foreign-exchange market begins to prevent potential volatility as Bangladesh transitions into a band-centric floating exchange-rate regime, officials said.Nine teams of Bangladesh Bank (BB) have been fielded to conduct the fresh inspections about eight leading private commercial banks...