Briefing 2023-06-21

Both exporters, importers to reap

benefit of market-driven exchange

Exporters and importers are expected to benefit from a market-driven exchange rate, despite the potential devaluation of the local currency. The central bank's decision to allow the currency to float freely is welcomed by experts. The unified exchange rate system aims to close the gap between formal and informal currency channels, replenishing foreign exchange reserves. Page 9

Police raid Paris Olympics HQ

Authorities conducted raids at the Paris 2024 Olympics committee headquarters and Solideo offices, linked to two separate ongoing investigations. The probes focus on allegations of illegal conflict of interest, misuse of public funds and favouritism. The first investigation involves contracts approved by influential decision-makers associated with the Games. The second investigation has been assigned to the financial brigade of the Parisian police. Page 17

3 cos to invest $27.81m in EZs

Three local companies will invest $27.81 million in two economic zones (EZs) of the country to establish industrial units and a resort. Their proposed investment is expected to create employment for around 800 people in Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) and Sabrang Tourism Park. The three companies inked land lease agreements with BEZA on Tuesday. Page 20