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

Crawling peg in dollar-taka exchange destined for demise

An overriding reality now prompts the central bank to discard the virtually derelict crawling-peg regime and consider a more flexible exchange-rate mechanism to bring stability in the overheated foreign-exchange market.The Bangladesh Bank (BB) has now been working on the new system which is possibly to be implemented from January 2025,...

Pvt ins business sees slow growth in 2023

Private-sector insurance business, both life and non-life, grew at a slower pace in 2023 due to higher inflation and subdued overall business activities.The life-insurance sector expanded by 8.2 per cent to about Tk 114.84 billion, but the growth rate was more than 2.0-percentage-point lower compared to 2022, according to the...

Apparel production automation devours 30.58pc jobs

Upgrading Bangladesh's export-earning apparel industry happens at a cost as automation of the production processes eliminates 30.58-percent jobs, with helpers handed higher cuts, a latest study shows. The cutting section of the garment-making experienced the highest percentage of labour wipeout-48.34 per cent--while the sewing process showed a lower reduction of...

Another dollop of $900 million in forex purse

A substantial sum of US$900 million is being fed into Bangladesh's slim foreign-exchange purse from the World Bank as two loan deals were made Sunday, in a row of recent foreign funding. Of the funds, $500 million comes as budget support and another $400 million for implementing resilient urban and...

Fire breaks out at Gazipur factory; 1 killed

Firefighters recovered the body of a man from a button factory at Bhangnahati in Sreepur upazila of Gazipur district after it caught fire on Sunday afternoon, reports UNB.Fire fighters recovered the body from inside the factory, said Mamunur Rashid, deputy assistant director of Fire Service and Civil Defence.The identity of...

BB now can hire ICFs for banks

The central bank has introduced special regulations to hire international consulting firms (ICFs) for commercial banks in order to improve their financial health through diagnosing the bank companies.The central bank communicated the special regulations to managing directors and chief executive officers of all scheduled banks through issuing a notification on...