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

IMF paints gloomy BD economic picture, advises urgent cures

On a prolonged review of Bangladesh's economic fundamentals, the International Monetary Fund paints a gloomy picture and suggests large-scale urgent reforms for a turnaround with its extended fund support. Bangladesh will receive another much-sought-after dollop of US$645 million from the IMF's ongoing credit programme as the exhaustive review of the...

Forex market gets restive, exchange rate overshoots Tk 126

Bangladesh's foreign-exchange market becomes extremely volatile suddenly with the exchange rate against the greenback overshooting the peg to Tk 126, worrying officials, bankers and businesses.The informal-market rate is far higher than the upper ceiling (Tk 120 a dollar) set in the central bank-introduced crawling-peg mechanism.To stop the baroque buck-up, Bangladesh...

Four killed, dozens hurt

Four persons were reportedly killed and more than 50 injured during a clash between two factions of the Tablig Jamaat at the Biswa Ijtema ground in the early hours of Wednesday.The deceased included Bachchu Mia (70) from Kishoreganj and Belal Hossain (60) from Dakkhinkhan, Dhaka.Sources said the two groups-supporters of...

Deal signed with ADB on $600m credit

A budget-support credit worth US$600 million is confirmed by the Asian Development Bank (ADB) that will directly be fed into Bangladesh's foreign-exchange reserves for a much-needed boost. The development funding, signed and sealed Wednesday, is meant for facilitating structural reforms in the country to drive economic advances by navigating recent...

Smoke billows as a fire broke out at Bau Bazar of the Karail slum

Smoke billows as a fire broke out at Bau Bazar of the Karail slum in the capital's Banani area on Wednesday afternoon. Seven units of the firefighters brought the flame under control at around 5:12 pm. No casualty was reported as the authorities were yet to assess the extent of...

NBR scraps tax waiver for S Alam power plant

The National Board of Revenue (NBR) has cancelled tax exemption facility for a power company owned by S Alam Group and also for foreign ocean-going ships.It has issued two separate Statutory Regulatory Orders (SROs) by withdrawing the tax exemptions.SS Power I Limited, a subsidiary of the S Alam Group, had...