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

49 state-owned enterprises lose Tk 137.41b

After nine years of profit-making, forty-nine state-owned enterprises (SOEs) are set to count massive losses in the outgoing fiscal year (FY), 2022-23.According to the Bangladesh Economic Review-2023 released last Thursday, the net loss of those companies and corporations has been estimated at Tk 137.41 billion (provisional figure).It said the SOEs...

No possibility of inflation from govt borrowings: BB Governor

Bangladesh Bank Governor Abdur Rouf Talukder on Friday ruled out any possibility of creating inflation in the country from the target of government borrowings including from bank borrowings set in the proposed budget for the next fiscal year (FY24), reports BSS."Currently, the inflation in the country is not because of...

Fund crunch forces food ration cuts for Rohingya

The monthly food vouchers that the Rohingya in Cox's Bazar camps receive are reduced by 33 per cent for the second time in just three months.The latest cutback in daily food ration takes effect from the first day of June.With the food voucher valued at as little as $8.0 (Tk...

May sees global rice price soar to 13-year high

Global rice prices witnessed a colossal hike in the just-ended month of May, led by a notable surge in the 'Indica' species, which is mostly consumed by South and Southeast Asians, according to the Food and Agriculture Organization (FAO). The FAO, based in Rome under the United Nations, released its...

NBR Chairman defends min. Tk 2,000 tax for TIN holders

National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem on Friday raised the rationale behind the proposal to make the minimum Tk 2,000 tax for every TIN holder who is below the taxable income, reports UNB"TIN is not mandatory for the poor. It is a matter of pride...

India train crash kills 10, injures more than 100

At least 10 people were killed and more than 100 were injured Friday night when a passenger train smashed into a freight train near a station in India, reports the Messenger.Other passengers remained trapped in the wreckage and were screaming in the dark to be rescued, according to a report...

Pakistan moves for barter trade with Afghanistan, Iran, Russia

KARACHI, June 2 (Reuters): Pakistan has passed a special order to allow barter trade with Afghanistan, Iran and Russia for certain goods, including petroleum and natural gas, the Ministry of Commerce said on Friday.Left with barely enough foreign exchange reserves to cover one month's imports, Pakistan's government is desperately trying...

Sri Lanka to remain on policy loosening course

COLOMBO, June 2 (Reuters): Sri Lanka's central bank is likely to continue to ease monetary policy, following a 250 basis points rate cut on Thursday, as it tries to boost economic growth and lower borrowing costs for the government in the crisis-hit economy.In a sign of confidence that the worst...

In the textile-production hub of Fatulla

In the textile-production hub of Fatulla, Narayanganj, a worker hangs a long strip of cloth on a line outside his textile factory to dry after the dyeing process. This is a common sight in the area, where hundreds of workers are tirelessly engaged in fabrics making and dyeing to sustain...

United Indian opposition can beat Modi in 2024: Rahul Gandhi

WASHINGTON, June 2 (AFP) : India's leading opposition figure Rahul Gandhi expressed his confidence on Thursday that the opposition can beat the ruling party in 2024 elections.Gandhi, who was speaking at the National Press Club in Washington, is a member of the Congress Party and was expelled from the Indian...