Business - The Daily Ittefaq

US tariff move raises alarm for Bangladesh: ADB

Click Ittefaq Desk — Fri, 10 Jul 2026 12:18:11 +0600

Preparations by the United States to impose additional tariffs under Section 301 of its trade law have emerged as a major concern for Bangladesh’s export sector, according to the Asian Development Bank (ADB) in its latest report, Asian Development Outlook, July 2026. The ADB warns that the move would not only increase trade costs but also create long-term uncertainty across the Asian... Details

Oil prices climb sharply after US strikes Iran

UNB — Wed, 08 Jul 2026 12:15:01 +0600

Oil prices climbed sharply on Wednesday after fresh military action by the United States against Iran reignited concerns over supply disruptions, erasing the recent decline that had returned crude prices to pre-conflict levels. Brent crude, the global benchmark, gained as much as 3 percent, with September futures reaching $76.07 a barrel by 04:00 GMT, their highest level since June 23. The... Details

Bangladesh RMG exports slip 1.64% to $38.70bn in FY26

UNB — Tue, 07 Jul 2026 22:54:11 +0600

Bangladesh’s readymade garment (RMG) exports registered a slight year-on-year decline of 1.64 percent, totalling US$ 38.70 billion for the fiscal year 2025-26 from $39.34 billion in FY2024-25, according to recent data from the Export Promotion Bureau (EPB). The export performance highlights shifting trends across major global destinations, featuring an erosion in the European Union (EU)... Details

Microsoft cuts 4,800 jobs and shrinks Xbox

Click Ittefaq Desk — Tue, 07 Jul 2026 08:00:16 +0600

Microsoft has announced it has cut 4,800 jobs - roughly 2.1% of its workforce - with Xbox to bear a large number of its latest layoffs. Amy Coleman, executive vice president at Microsoft, told employees in a memo that the tech giant needed to focus on areas that can deliver for customers amid a "fast-changing industry". The sweeping layoffs will see more than 1,600 roles immediately axed at... Details

OPEC+ tipped to raise quotas again as Mideast calms

BSS — Sun, 05 Jul 2026 10:33:38 +0600

Seven OPEC+ members are likely to raise oil production quotas on Sunday as Gulf countries are reeling from the Middle East war, analysts told AFP. Saudi Arabia, Russia and five other members of the enlarged Organisation of the Petroleum Exporting Countries (OPEC+) are meeting online on Sunday to discuss quotas for August. OPEC+ will likely continue "to unwind the production cuts at the same... Details

Bangladesh's June exports surge by 25.91%

UNB — Thu, 02 Jul 2026 23:34:53 +0600

Bangladesh's merchandise exports posted a robust 25.91 percent year-on-year growth in June 2026, closing out fiscal year 2025-26 with renewed momentum despite persistent global economic and geopolitical headwinds, according to provisional data released by the Export Promotion Bureau (EPB) on Thursday. The country earned US$ 4,202.69 million from merchandise exports in June 2026, up from... Details

‘Bangla QR’ launched to drive cashless economy

UNB — Thu, 02 Jul 2026 14:45:05 +0600

Bangladesh Bank Governor Md Mostaqur Rahman on Wednesday officially inaugurated transactions using Bangla QR, marking a unified step toward a cashless society and a fully interoperable digital payment ecosystem. He launched the initiative by completing a transaction via the unified QR code at a bKash merchant outlet in Motijheel, the capital's commercial hub. Starting on Wednesday, the... Details

Trump reports over $1.4bn in income from crypto ventures

Click Ittefaq Desk — Wed, 01 Jul 2026 09:49:43 +0600

U.S. President Donald Trump reported more than $1.4 billion in income from his family’s crypto ventures last year, showing how Trump now derives most of his income from digital assets that have benefited from his policies, according to a review of his latest financial disclosures on Tuesday. The filings, his annual disclosure for 2025 with ‌the U.S. Office of Government Ethics,... Details

BB adopts cautious MPS to curb inflation

BSS — Tue, 30 Jun 2026 17:31:28 +0600

Bangladesh Bank (BB) today maintained its policy repo rate at 10 percent, adopting a cautious monetary policy stance for the July-December 2026 period to contain inflation while safeguarding the country's fragile economic recovery amid mounting global and domestic risks. Announcing the Monetary Policy Statement (MPS) at the central bank headquarters in the city, BB Governor Md. Mostaqur Rahman... Details

BB set to unveil monetary policy

UNB — Tue, 30 Jun 2026 14:49:21 +0600

Bangladesh Bank (BB) is likely to keep its key policy interest rate unchanged at 10 percent shelving an earlier plan to lower the rate amid growing global economic uncertainty triggered by the recent geopolitical tensions in the Middle East. The central bank is scheduled to announce the monetary policy on Tuesday afternoon at a press conference. The governor initially convened a meeting of... Details

Oil falls over Iran-US talks in Doha

Click Ittefaq Desk — Tue, 30 Jun 2026 11:02:02 +0600

Oil prices ‌dipped on Tuesday and were poised for a monthly decline, with investors eyeing potential U.S.-Iran talks in Doha amid a strained interim ceasefire in the four-month-old war. Brent August crude futures , which expire on Tuesday, were down 0.9%, or 64 cents, at $72.51 a barrel as of 0356 GMT. These levels are around $20, or 22%, lower than last month's closing. The more... Details

Remittances grow 17.6% to record $35.34bn in FY25–26

UNB — Mon, 29 Jun 2026 18:08:46 +0600

Bangladesh's remittance inflows crossed the US $35.34 billion mark in the concluding fiscal year FY2025–26, registering a robust double-digit annual growth, according to the latest data from Bangladesh Bank. The data, released by the central bank's Foreign Exchange Policy Department, showed that expatriate Bangladeshis sent $35.34 billion between July 2025 and June 28, 2026. This... Details

12 Chinese firms propose $9.21b investment in Bangladesh

BSS — Sun, 28 Jun 2026 23:34:24 +0600

Twelve Chinese companies have proposed investments worth US$9.21 billion in Bangladesh across energy, infrastructure, logistics, manufacturing and education sectors following meetings with Prime Minister Tarique Rahman during his recent visit to China. The investment proposals were presented when the chief executives and senior representatives of the 12 companies met Prime Minister Tarique... Details

Trump threatens 100% tariff on European nations over tech tax

Click Ittefaq Desk — Sat, 27 Jun 2026 15:05:39 +0600

US president Donald Trump has vowed to impose a 100% import tariff on any European country that introduces a digital services tax on American technology giants. Writing on his Truth Social platform, Trump said "Numerous European countries" had been discussing bringing in such a levy and some were close to doing so, BBC reports. He warned that the punitive penalties would be applied... Details

Japan needs more foreign workers, but many feel unwelcome

Click Ittefaq Desk — Fri, 26 Jun 2026 18:39:58 +0600

"I was shocked. It is too much to pay 100,000 yen to extend my visa every three years," said Srijana Sunar, a 29-year-old Nepali woman who has been working at factories in Japan since 2018. She earns 145,000 yen ($900/€790) per month. In late May, the Japanese government enacted a bill raising the maximum fee for changing residency status or extending a period of stay tenfold from the... Details

Remittance rises 17.7pc to $35.07bn in FY26 till June 24

BSS — Fri, 26 Jun 2026 11:18:58 +0600

Bangladesh received US$35.07 billion in remittances during the first 359 days of fiscal year (FY) 2025-26, marking a robust 17.7 percent growth compared with the corresponding period of the previous fiscal year. According to the latest data from Bangladesh Bank, expatriate Bangladeshis sent home $35.069 billion between July 1, 2025 and June 24, 2026, up from $29.792 billion received... Details

Elon Musk loses trillionaire status

Click Ittefaq Desk — Thu, 25 Jun 2026 23:41:35 +0600

Tech entrepreneur Elon Musk lost his trillionaire status on Tuesday, less than two weeks after becoming the first person to achieve it following SpaceX's public debut, according to data from Bloomberg. The Bloomberg Billionaires Index - updated daily at 17:30 in New York (22:30 BST) - valued his fortune at $957bn (£727bn) on Tuesday, down from the $1.11tn valuation less than 14 days ago,... Details

Bangla QR mandatory from July 1 to boost cashless transaction

BSS — Thu, 25 Jun 2026 15:59:57 +0600

Bangladesh Bank (BB) has made the use of Bangla QR code mandatory from July 1 as part of its efforts to reduce cash-based transactions and accelerate the country's transition towards a cashless economy. BB Deputy Governor Dr. Habibur Rahman today announced the decision while addressing the inaugural ceremony of the "Bangla QR Transaction Campaign" as the special guest at the central bank... Details

Brent crude falls below pre-Mideast war closing price

BSS — Thu, 25 Jun 2026 12:08:37 +0600

Brent crude fell more than one percent Thursday, slipping below its closing level on the eve of the Middle East war, as investors grow optimistic about US-Iran peace talks and tankers continue through the Strait of Hormuz. The contract for August hit a low of $72.44 a barrel, compared with the February 27 close of $72.48. Brent soared as high as $119 in the weeks after the United States and... Details

Govt urged to ease compliance regulations for RMG

UNB — Wed, 24 Jun 2026 22:52:14 +0600

A delegation from the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Wednesday held a meeting with Environment, Forest and Climate Change Minister Abdul Awal Mintoo to advocate for pragmatic, science-based environmental compliance in the ready-made garment (RMG) and textile sectors. Led by BGMEA President Mahmud Hasan Khan, the delegation met the Minister at the... Details

1,200 cargo vessels stranded in Hormuz

UNB — Wed, 24 Jun 2026 14:43:53 +0600

More than 1,200 cargo ships carrying goods worth an estimated $125 billion remain stranded following the closure of the strategically important Strait of Hormuz, the Financial Times reported on Wednesday, citing a report by insurance company Allianz. According to the report, the disruption has significantly altered how insurers assess risks in major maritime chokepoints. “We used to... Details

Chattogram Port breaks records amid global slowdown

Click Ittefaq Desk — Wed, 24 Jun 2026 08:12:19 +0600

Despite the global economic slowdown, the revenue of Chattogram Port, widely regarded as the lifeline of Bangladesh’s economy, has been increasing significantly. At the same time, container handling volumes have also risen. The port has achieved remarkable success in both revenue generation and revenue growth. According to the port authority, this success has been achieved by reducing... Details

The future of oil prices may depend on China

Click Ittefaq Desk — Tue, 23 Jun 2026 13:35:19 +0600

As the US and Iran hammer out how to permanently reopen the Strait of Hormuz and restart the flow of Middle Eastern oil, the market’s next move may depend on one country absent from the negotiations: China. The world’s second-largest consumer of crude oil, China, has pulled out all the stops to preserve supplies as the war in Iran has cut off access to more than 11 million barrels... Details

Crude prices drop, most stocks rise on 'positive' US-Iran talks

BSS — Mon, 22 Jun 2026 15:12:08 +0600

Oil prices fell Monday on optimism over US-Iran peace talks, with mediators flagging a "roadmap" to a final agreement, while most equities rose thanks to another healthy start for tech firms. After a meeting planned for Friday was cancelled owing to fighting between Israel and Hezbollah, the negotiations finally got underway on Sunday in Switzerland with teams led by US Vice President JD Vance... Details

CPD finds FY27 budget ambitious but unlikely to deliver on key promises

Sun, 21 Jun 2026 12:59:32 +0600

Centre for Policy Dialogue (CPD) on Sunday said the national budget for FY2026-27 reflects a clear philosophy of economic recovery through human development but its ambitious macroeconomic targets rest on shaky ground and the fiscal framework is unlikely to hold as proposed. CPD Executive Director Dr Fahmida Khatun presented the think tank's Independent Review of Bangladesh's Development... Details

PM assures full support to investors to reopen closed factories

UNB — Sat, 20 Jun 2026 19:43:46 +0600

Prime Minister Tarique Rahman on Saturday assured investors of full government support in reviving non-operational and loss-making state-owned factories, saying the government is committed to removing any obstacles and creating a more business-friendly environment. “We just want you to grow further, and we want to help you by providing all necessary support,” he told local and... Details

Brexit cost 6% of UK economy

Click Ittefaq Desk — Fri, 19 Jun 2026 11:45:10 +0600

The UK economy has taken a 6% hit from the effects of Brexit, according to economists' analysis of internal Bank of England data about the decisions, views and financial results of thousands of British companies since the referendum a decade ago. Examining data that the Bank uses to decide on interest rates, the study analysed lost growth by trying to reconstruct how the UK would have grown if... Details

BB eases ship lease remittance rules to boost shipping sector

BSS — Thu, 18 Jun 2026 19:11:19 +0600

Bangladesh Bank (BB) has allowed domestic shipping companies to remit vessel lease rentals abroad, in a move aimed at strengthening and modernising the country’s maritime financing framework. The decision extends foreign exchange flexibility previously available only to the aviation sector, bringing shipping under a similar regulatory regime to facilitate smoother international leasing... Details

Oil prices tumble over 3% after Trump signs deal to reopen Hormuz

BSS — Thu, 18 Jun 2026 13:43:02 +0600

Oil prices fell over three percent Thursday after US President Donald Trump and his Iranian counterpart signed off on a deal to end their war and reopen the Strait of Hormuz. At around 0625 GMT, the main US oil contract, West Texas Intermediate, sank 3.4 percent to $74.18 a barrel. International benchmark Brent North Sea crude was down 3.02 percent at $77.15 a barrel. Details

Oil drops below $80 on US-Iran deal

BSS — Wed, 17 Jun 2026 12:57:02 +0600

Oil prices dropped below $80 a barrel Tuesday on optimism over the promised reopening of the Strait of Hormuz, easing inflation pressures on global economies. The slide accelerated to more than five percent after The Wall Street Journal reported that Washington could ease sanctions on Iranian crude as part of the deal to end the Middle East war, allowing Tehran to immediately sell crude and... Details

Pizza Hut sold for $2.7bn

UNB — Tue, 16 Jun 2026 23:39:39 +0600

Yum Brands has agreed to sell Pizza Hut for a combined $2.7 billion, ending its ownership of the iconic pizza chain as the company seeks to focus on higher-performing brands amid declining sales at Pizza Hut. The parent company of KFC, Taco Bell and Pizza Hut announced Tuesday that private equity firm LongRange Capital will acquire Pizza Hut’s operations outside mainland China for... Details

US says Hormuz to be toll-free under Iran deal

BSS — Tue, 16 Jun 2026 09:52:15 +0600

The United States said Monday that ships will move toll-free through the Strait of Hormuz under an Iran peace deal signed by President Donald Trump, and insisted Tehran would have to fulfill its commitments before getting any economic benefits. They included a possible $300 billion reconstruction fund for the war-battered country, but the release of funds will be "tied to performance," a... Details

Gold prices see two consecutive hikes after days of decline

UNB — Mon, 15 Jun 2026 14:19:10 +0600

Gold prices in Bangladesh have surged by Tk 12,072 per bhori over two consecutive days, reversing a prolonged declining trend, as the Bangladesh Jewellers Association (BAJUS) cited rising pure gold prices in the local market. BAJUS raised the price of 22-carat gold by Tk 5,482 per bhori on Monday, setting the new rate at Tk 2,30,422. The revision took effect from 10:00am. The hike follows a... Details

Oil prices down more than 4%

BSS — Mon, 15 Jun 2026 09:49:32 +0600

Oil prices plunged more than four percent Monday after the United States and Iran announced they had reached a peace agreement to end months of a war that had roiled energy markets. West Texas Intermediate was down 4.39 percent at $81.15 a barrel in Tokyo after mediator Pakistan said the United States and Iran agreed to a peace deal and an "immediate and permanent" end to military operations... Details

Govt to establish new EPZs in 2 districts, Economic Zones in 3 districts

BSS — Sun, 14 Jun 2026 14:09:12 +0600

The government has decided to establish Export Processing Zones (EPZs) in Barishal and Lalmonirhat to attract foreign investment, increase exports, and create employment opportunities. The Cabinet Division has already sent letters to the Secretary of the Prime Minister’s Office and other relevant authorities to begin implementing the EPZ projects. During the DC Conference held in May,... Details

Govt eyes inflation relief, lower debt through sweeping reforms

UNB — Sun, 14 Jun 2026 12:30:41 +0600

The government has placed the restoration of macroeconomic stability at the centre of its economic recovery, restoration and reconstruction agenda, pledging a series of fiscal, monetary and institutional reforms aimed at curbing inflation, strengthening public finances and reducing debt dependence. As per the budget document, the government acknowledged that persistently high inflation over... Details

SpaceX set for Wall Street debut in record-breaking IPO

UNB — Fri, 12 Jun 2026 14:51:11 +0600

Elon Musk's rocket company SpaceX is set to make its stock market debut on Friday in what could become the largest initial public offering (IPO) in history, drawing strong interest from both large investors and individual buyers. The company plans to sell about 555.6 million shares at $135 each, raising roughly $75 billion. The listing is expected to further boost the wealth of Musk, already... Details

Shopping malls, markets to stay open until 9pm

UNB — Thu, 11 Jun 2026 17:03:06 +0600

The government has decided to allow shopping malls, markets and retail shops across the country to remain open until 9pm from June 12, easing restrictions imposed earlier as part of power-saving measures. The Power Division issued a notification on Thursday saying that the revised operating hours would be from 11am to 9pm. Earlier, under a government decision that took effect on... Details

What may cost more in FY26–27 Budget?

Click Ittefaq Desk — Tue, 09 Jun 2026 17:02:26 +0600

In the proposed budget for the 2026–27 fiscal year, the government may increase taxes, customs duties, and VAT on various products and sectors. As a result, the prices of some consumer goods, import-dependent products, and luxury items are expected to rise. The first budget of the government led by Prime Minister Tarek Rahman will be presented at 3:00 PM on Thursday, June 11. Finance Minister... Details

China's exports rise 19.4% in May despite impact of Iran war

UNB — Tue, 09 Jun 2026 10:23:05 +0600

China's exports grew at a faster-than-expected pace in May, increasing 19.4 percent year-on-year despite disruptions linked to the Iran war, according to data released Tuesday by the country's customs authority. The May figure marked an acceleration from April’s 14.1 percent annual growth rate, underscoring the resilience of China's export sector. Analysts attributed the strong... Details

BB launches Tk 5,000cr revolving refinance fund for CMSMEs

BSS — Mon, 08 Jun 2026 19:13:08 +0600

Bangladesh Bank (BB) today launched a Tk 5,000 crore revolving refinance fund for the Cottage, Micro, Small and Medium Enterprise (CMSME) sector to ease working capital shortages, boost production and support employment generation. The central bank introduced the fund through an SMESPD circular issued by its SME and Special Programmes Department, utilizing surplus liquidity of scheduled banks.... Details

June 30 deadline to upload paper VAT returns to e-VAT system

UNB — Sun, 07 Jun 2026 18:38:27 +0600

The National Board of Revenue (NBR) has extended the deadline for businesses to enter previously submitted paper-based VAT returns into the electronic VAT (e-VAT) system until June 30, 2026, ahead of the planned introduction of mandatory online VAT return filing from July. According to an NBR press release issued on Sunday, a new sub-module titled “Hard Copy Return Entry” has been... Details

RMG exports decline 3.41% in 11 months of fiscal

UNB — Sun, 07 Jun 2026 09:25:28 +0600

Bangladesh’s ready-made garment (RMG) exports fetched US$ 35.31 billion during the July–May period of the fiscal year 2025–26, registering a 3.41 percent decline compared to the same period in the previous fiscal year FY2024-25, according to the latest data from the Export Promotion Bureau (EPB). The sector, which serves as the backbone of the country's export economy, faced... Details

Tk 20,000cr loan scheme at 7% interest launched to revive closed factories

UNB — Sat, 06 Jun 2026 11:26:33 +0600

In a major move to inject vitality into a sluggish economy and generate employment, Bangladesh Bank (BB) on Thursday night announced a Tk 20,000-crore pre-refinancing scheme aimed at fully reviving closed and partially operational industries. Under this new policy, titled the "Pre-Refinancing Scheme for Assisting Closed Large-Scale Industry and Service Sectors," eligible business entities and... Details

Rangpur farmers eye bumper harvest of Haribhanga mangoes

BSS — Fri, 05 Jun 2026 14:20:34 +0600

Enthusiastic farmers in Rangpur agricultural region are preparing to start harvesting the delicious local variety of 'Haribhanga' mangoes from June 15, hoping for a bumper harvest and good profits this season. Despite damage caused by hail and heavy rains during and after fruit setting periods, farmers and officials of the Department of Agricultural Extension (DAE) are optimistic about a... Details

CPD flags mounting economic challenges amid revenue shortfalls

UNB — Thu, 04 Jun 2026 15:19:39 +0600

Bangladesh is facing mounting economic challenges as weak revenue collection, persistent inflation, banking sector fragility and rising energy costs weigh on the economy, the Centre for Policy Dialogue (CPD) said on Thursday. Presenting the third reading of its Independent Review of Bangladesh's Development (IRBD) FY2025-26 at its office in Dhaka, the think tank said the economy is grappling... Details

US proposes additional duties on imports from Bangladesh

UNB — Wed, 03 Jun 2026 12:36:38 +0600

The United States has proposed additional tariffs on imports from a good number of countries including Bangladesh after concluding that their efforts to curb trade in goods produced with forced labour are inadequate and restrict US commerce. The United States Trade Representative (USTR) on Tuesday determined under Section 301 of the Trade Act of 1974 that the acts, policies, and practices of... Details

Online shoppers growing in Dhaka

BSS — Tue, 02 Jun 2026 14:26:48 +0600

The digital marketplace is steadily reshaping consumer habits in Bangladesh, with Dhaka division standing out as the country’s frontrunner in online shopping. A recent survey shows that more than one in five internet users in Dhaka are now purchasing goods and services online, while Barishal lags behind with the lowest participation. Fashion dominates the virtual carts, as... Details

Oil prices up over 5% on fresh US-Iran tensions

BSS — Mon, 01 Jun 2026 23:29:21 +0600

Oil prices surged Monday after Iran said it suspended all exchanges with Washington following days of inconclusive talks to end the war, and the two nations again traded strikes. At around 1330 GMT the price Brent North Sea Crude for August delivery was up 4.9 percent at $95.60 a barrel, after briefly rising above 5 percent. Its US counterpart, West Texas Intermediate crude for July delivery,... Details

Bangladesh to get tariff cut on RMG using US cotton

UNB — Mon, 01 Jun 2026 18:19:06 +0600

The United States (US) has said the USDA and USTR secured commitments from Bangladesh and Indonesia that will support future US cotton purchases and textile production using American cotton. Bangladesh will receive a tariff reduction on apparel produced using US cotton and textile inputs, complementing additional tariff elimination wins, an official told UNB referring to the Great American... Details

Trade via Benapole resumes after Eid holiday

UNB — Mon, 01 Jun 2026 14:48:42 +0600

Trade between Bangladesh and India through Benapole land port resumed on Monday following a seven-day suspension during the Eid holidays. Benapole Port Director Shamim Hossain said with the holiday now over, bilateral trade through the land port has resumed. Around 3,000 workers joined their duties from early morning to handle cargo loading and unloading, restoring normal operations at the... Details

Sri Lanka raise fuel prices after IMF loan instalment

BSS — Sun, 31 May 2026 12:33:20 +0600

Sri Lanka raised fuel prices by up to six percent on Sunday, in line with IMF plans to recover energy costs and phase out subsidies to stabilise the economy. Petrol was raised to 434 rupees ($1.33), up from 410, while diesel increased to 407 rupees a litre from 392, the state-run Ceylon Petroleum Corporation said. The price hike came days after the International Monetary Fund released a $695... Details

Oil prices slide on hopes of US-Iran peace deal

Click Ittefaq Desk — Mon, 25 May 2026 10:14:12 +0600

Oil prices have fallen sharply and Asian stock markets have risen on hopes of a deal that could bring an end to the US-Israel war with Iran. On Saturday, US President Donald Trump said an agreement with Tehran had been "largely negotiated" and details would be announced soon but the following day urged his negotiating team not to rush an agreement, BBC reports. On Monday morning in Asia,... Details

Remittance inflow jumps 41.31pc in 23 days of May

UNB — Sun, 24 May 2026 19:33:25 +0600

Bangladesh recorded a sharp rise in inward remittances ahead of Eid-ul-Azha, with inflows increasing by 41.31 percent in the first 23 days of May 2026 compared to the same period last year, according to the latest data from Bangladesh Bank. Expatriate Bangladeshis sent home US$2.97 billion between May 1 and 23, significantly higher than the US$2.10 billion received during the... Details

EU apparel imports slump 11.27pc in Jan-Feb

UNB — Sat, 23 May 2026 23:03:17 +0600

The European Union's apparel imports experienced an 11.27 percent negative growth during the January-February period of 2026, totaling €13.83 billion, according to the latest data from Eurostat. The contraction in the EU fashion retail market was driven by a 6.23 percent decline in import volume and a 5.38 percent decrease in average unit prices compared to the same period last year.... Details

BB unveils Tk 60,000cr stimulus package to revive economy

UNB — Sat, 23 May 2026 20:18:47 +0600

Bangladesh Bank (BB) on Saturday announced a massive Tk 60,000 crore stimulus package for 2026, aiming to revitalise a slowing national economy, spur private sector development and generate over 2.5 million jobs. Bangladesh Bank Governor Md. Mostaqur Rahman made the announcement at a press briefing at the central bank headquarters. Detailing the interest rate structure, the governor said... Details

Meta lays off 8,000 employees

Click Ittefaq Desk — Thu, 21 May 2026 16:30:30 +0600

For the last month, employees at Meta have been on edge. In April, they were told that 8,000 of them, or 10 percent of the work force, would be laid off on May 20 as Meta remade itself for the artificial intelligence era. On Monday, they learned that another 7,000 employees would be reassigned to new A.I. initiatives, reports the New York Times. On Wednesday, the ax fell. The layoffs began... Details

UK loosens Russian oil sanctions as fuel prices rise

Click Ittefaq Desk — Wed, 20 May 2026 13:40:26 +0600

The UK government has loosened strict sanctions on Russian oil refined into diesel and jet fuel in third countries as prices rise. The waiver begins on Wednesday and reflects growing supply concerns over certain fuels due to the effective blockade of the key Strait of Hormuz waterway since the start of the US-Israel war with Iran, BBC reports. Some sanctions on the transport of Russian... Details

StanChart to cut thousands of roles as AI use increases

Click Ittefaq Desk — Tue, 19 May 2026 10:15:14 +0600

Banking giant Standard Chartered has become the latest major company to announce job cuts as it increases its adoption of artificial intelligence (AI). The firm, which has its headquarters in the UK, said it will cut more than 15%, or around 7,800, back-office roles by 2030, BBC reports. The BBC understands that Standard Chartered aims to move some of the effected workers to other roles in... Details

Remittance inflow surges 35.2pc in 1st 17 days of May

BSS — Mon, 18 May 2026 20:29:32 +0600

Bangladesh witnessed a strong growth in inward remittance during the first 17 days of May as expatriate Bangladeshis continued to send higher amounts of money through formal banking channels. According to the latest data, the country received $2.177 billion in remittances during the period from May 1 to May 17, 2026, compared to $1.610 billion during the corresponding period of May last year.... Details

Why does Amazon have no Western rivals?

Click Ittefaq Desk — Mon, 18 May 2026 14:46:37 +0600

Vitamins, repair tape and a jar of mango chutney - just some of what my household bought last month via Amazon's sprawling online shopping platform. We also shopped at the company's supermarket chain Whole Foods, streamed its TV shows, read books on Kindle e-readers, and browsed countless websites no doubt powered by Amazon Web Services (AWS), its highly profitable cloud-computing business,... Details

Boeing confirms China commitment to buy 200 aircraft

BSS — Sat, 16 May 2026 23:50:20 +0600

Aerospace giant Boeing on Friday confirmed that China had committed to purchasing 200 aircraft during a visit to Beijing by US President Donald Trump -- a deal that could ultimately balloon with orders for 750 additional planes. "We had a very successful trip to China and accomplished our major goal of reopening the China market to orders for Boeing aircraft," the company, whose CEO Kelly... Details

Sri Lanka raises tax on imported cars

BSS — Sat, 16 May 2026 15:39:28 +0600

Sri Lanka slapped a 50 percent surcharge on customs duties on vehicles Saturday in a bid to discourage imports and ease currency pressure stemming from the Middle East conflict. The increase in taxes comes as the local rupee has sharply depreciated since the start of US and Israeli attacks on Iran, which prompted retaliation by Tehran. "Given the current pressure on foreign exchange, we want... Details

Net FDI in Bangladesh jumps 39.36pc in 2025

UNB — Fri, 15 May 2026 21:40:11 +0600

Net Foreign Direct Investment (FDI) inflows into Bangladesh surged by 39.36 percent in 2025, signaling a strong recovery and growing investor confidence despite global economic challenges and domestic transitions. According to the latest FDI survey by the Bangladesh Bank, net FDI inflows rose to $1.77 billion in 2025, up from $1.27 billion recorded in 2024. The Bangladesh Investment... Details

Trump to seek tangible trade wins in Xi summit

BSS — Fri, 15 May 2026 10:45:15 +0600

US President Donald Trump will seek trade wins during final meetings with Xi Jinping on Friday at a superpower summit overshadowed by the Chinese leader's uncharacteristically sharp warning on Taiwan. The US leader is hoping to seal business deals in sectors including agriculture, aviation and artificial intelligence, but will also look for geopolitical progress in areas including the Middle... Details

BB buys $25m through dollar auction

BSS — Wed, 13 May 2026 23:17:37 +0600

Bangladesh Bank (BB) today purchased $25 million from two commercial banks through multiple auction methods. According to central bank data, it bought dollars at the rate of Tk 122.75. Accordingly, total purchases stood at $170 million in May 2026 and $5,843.50 million in FY 2025-26. Sources said the BB purchased the dollars as part of its strategy to stabilize the Taka against the... Details

BB cuts penalty interest rate to 0.5pc to boost investment

UNB — Wed, 13 May 2026 21:52:55 +0600

Bangladesh Bank has reduced the maximum penalty interest rate on overdue loans to 0.5 percent, aiming to boost investment and productivity amid the prevailing global economic challenges. According to a circular issued by the Banking Regulation and Policy Department (BRPD) on Wednesday, the central bank lowered the penalty interest cap from 1.5 percent to 0.5 percent. The directive, signed by... Details

BB launches Tk 1,000cr green fund for rural, local industries

UNB — Mon, 11 May 2026 22:55:38 +0600

In a major push to decentralise sustainable industrialisation, Bangladesh Bank has established a special Tk 1,000 crore refinancing fund dedicated to making rural and local industries environment-friendly. Under this scheme, entrepreneurs will be able to access credit at an interest rate of maximum 5 percent. The Sustainable Finance Department of the central bank issued a circular in this... Details

BB allows foreign currency release for visa bonds, security deposits

BSS — Mon, 11 May 2026 17:29:22 +0600

Bangladesh Bank (BB) has introduced a major facilitation measure allowing the release of foreign currency for visa bonds and refundable security deposits required by embassies and foreign authorities, aiming to simplify overseas visa processing for Bangladeshi applicants. The Foreign Exchange Policy Department-1 of the central bank today issued the directive through circular, expanding earlier... Details

Oil prices up as Trump bins Iran’s response

UNB — Mon, 11 May 2026 10:02:27 +0600

Oil prices climbed after US President Donald Trump dismissed Iran’s reply to Washington’s peace proposal as “totally unacceptable,” raising concerns over prolonged tensions. Brent crude, the global benchmark, rose 2.69 percent to $104.01 per barrel by 23:36 GMT on Sunday, building on a 1.23 percent gain recorded on Friday. Meanwhile, US West Texas Intermediate crude... Details

Bangladesh overtakes China in apparel supplies to US

UNB — Mon, 11 May 2026 09:48:31 +0600

In a significant shift in global trade dynamics, Bangladesh has overtaken China to become the second-largest apparel exporter to the United States in the first quarter of 2026. The shift comes as steep "counter-tariffs" imposed by the Trump administration have gutted China’s market share, even as global demand remains sluggish. According to data from the Office of Textiles and Apparel... Details

Remittance inflow grows 19.1pc in 9 days of May

BSS — Sun, 10 May 2026 18:59:09 +0600

The country’s remittance inflow registered a strong year-on-year growth of 19.1 percent, reaching $1,029 million in the first nine days of May, according to the latest data released by Bangladesh Bank (BB) today. During the same period last year, remittance inflow stood at $864 million. The steady rise in inward remittances reflects continued resilience in external earnings and stronger... Details

BB orders fake note detection booths at cattle markets

BSS — Sun, 10 May 2026 18:57:52 +0600

Bangladesh Bank (BB) has instructed all scheduled banks to establish counterfeit currency verification booths at authorized sacrificial animal markets across the country ahead of Eid-ul-Azha in a move aimed at preventing the circulation of forged banknotes during the peak festive trading season. The directive was issued today through a circular, outlining a comprehensive operational framework... Details

Credit cards financial lifeline for middle-class amid policy shift

UNB — Sat, 09 May 2026 21:28:55 +0600

Once regarded as an exclusive financial tool for the elite and high-net-worth travelers, credit cards have rapidly transitioned into an essential daily companion for the middle-class and younger generation in Bangladesh. From grocery shopping and hospital bills to online purchases and utility payments, the credit card is increasingly being viewed as a "digital alternative to cash" within the... Details

Oil prices rise after US and Iran exchange fire in Hormuz

Click Ittefaq Desk — Fri, 08 May 2026 19:06:56 +0600

Oil prices rose on Friday after the US and Iran exchanged fire in the key Strait of Hormuz waterway. The US said it made self‑defence strikes in response to "unprovoked" Iranian attacks as US ships were heading out of the Gulf through the strait, which is south of Iran. Iran said the US had violated the ceasefire agreed in April, according to its state media. The global Brent oil benchmark... Details

Gulf economies face long-term hit from Iran conflict

Click Ittefaq Desk — Thu, 07 May 2026 11:23:34 +0600

In the early 1990s, Qatar was grappling with a period of economic strain - high debt levels and weak state revenues were weighing heavily on its finances. To try to transform its fortunes the small Gulf state made a decisive bet on natural gas. It would develop its vast offshore gas reserves, and – crucially – super chill the gas into LNG (liquified natural gas) for transportation... Details

Oil drops, stocks rise

Click Ittefaq Desk — Wed, 06 May 2026 23:16:47 +0600

Oil prices have dropped and global stock markets have risen following reports that the US and Iran are close to a deal to end the war. Brent crude futures, the global benchmark oil price, fell to $97 (£73) a barrel after the reports before rebounding to over $101. The price was over $108 earlier in the day, BBC reports. The FTSE 100 index of London's largest public firms and Germany's... Details

Oil prices ease as US pauses Project Freedom

Click Ittefaq Desk — Wed, 06 May 2026 11:34:56 +0600

Oil prices edged lower in Wednesday trade in Asia after US President Donald Trump raised hopes for an agreement with Iran to end the war. Trump said the US would pause its operation to guide ships through the key Strait of Hormuz trade route - a move that triggered an escalation in attacks in the region - to see if a deal could be made, BBC reports. Brent, the global benchmark for crude, fell... Details

Oil prices jump on Hormuz tensions

BSS — Tue, 05 May 2026 11:10:52 +0600

Oil prices jumped on Monday after a drone strike sparked a fire at an Emirati energy installation, threatening a fragile US-Iran ceasefire, while US warships entered the crucial Strait of Hormuz. Seoul and Taipei hit record highs as Asian traders joined the rally in tech shares, but US equity indices retreated from record finishes last week. Oil prices climbed, with the benchmark... Details

UAE explains impact of Opec exit on energy strategy

Click Ittefaq Desk — Mon, 04 May 2026 23:00:40 +0600

Senior UAE ministers and industry leaders outlined a sweeping strategy to safeguard supply chains, boost industrial capacity, and deepen global partnerships as the country navigates the fallout from recent regional tensions. Speaking during a high-level panel moderated by Hadley Gamble, officials stressed that resilience, flexibility and long-term planning are enabling the UAE to maintain... Details

Remittance inflow reaches $315m in 3 days of May

BSS — Mon, 04 May 2026 21:44:15 +0600

The country’s remittance inflow has reached $315 million in the first three days of May, reflecting sustained strong inflows from expatriate Bangladeshis, according to data released by the Bangladesh Bank (BB) today. During this period, remittance receipts reached $315 million, marking a 260.1 percent increase year-on-year compared to $88 million in the same period last year. On a... Details

Amsterdam bans public adverts for meat and fossil fuels

Click Ittefaq Desk — Mon, 04 May 2026 16:58:45 +0600

Amsterdam has become the world's first capital city to ban public advertisements for both meat and fossil fuel products. Since 1 May, adverts for burgers, petrol cars and airlines have been stripped from billboards, tram shelters, and metro stations. At one of the city's busiest tram stops, adjacent to a grassy roundabout bursting with vibrant yellow daffodils and orange tulips, the poster... Details

US envoy leads Bangladesh delegation to 2026 SelectUSA Investment Summit

Click Ittefaq Desk — Mon, 04 May 2026 12:08:38 +0600

U.S. Ambassador Brent T. Christensen is leading a delegation of 25 Bangladeshi business leaders to the SelectUSA Investment Summit May 3-6 in Washington, D.C. The delegation includes leaders representing energy, technology, agribusiness, engineering, and business services, according to a statement. The 2026... Details

Spirit Airlines shutting down after rescue talks collapse

Click Ittefaq Desk — Sun, 03 May 2026 12:55:40 +0600

Spirit Airlines is shutting down after failing to secure a $500m (£368m) bailout from the Trump administration. The budget airline was in talks with the US government about a rescue deal that would have saved it from going out of business, BBC reports. But discussions collapsed and the carrier said in an announcement on its website on Saturday that with "great disappointment" it had... Details

UAE airspace reopens

Click Ittefaq Desk — Sun, 03 May 2026 09:59:09 +0600

UAE residents wanting to travel for their Eid Al Adha break or the summer vacation will likely be able to purchase tickets to some locations at a much lower rate, according to travel experts. This is after the UAE's General Civil Aviation Authority (GCAA) announced that air traffic in the country's airspace is now back to normal, reports the Khaleej Times. “Due to the GCAA announcement,... Details

Trump says he will hike tariffs on EU cars to 25%

Click Ittefaq Desk — Fri, 01 May 2026 23:54:23 +0600

Donald Trump is increasing the tariffs charged on cars and trucks from the European Union to 25%. The US president accused the EU of "not complying with our fully agreed to trade deal" in a post on Truth Social, but did not explain how. "I am pleased to announce that… next week I will be increasing Tariffs charged to the European Union for Cars and Trucks," Trump said on Friday,... Details

Apple earnings beat forecasts on iPhone 17 demand

BSS — Fri, 01 May 2026 19:08:49 +0600

Apple said Thursday it had its best-ever start to the year when it came to earnings, with iPhone demand and digital service sales helping it beat expectations. The pioneering Silicon Valley company reported profit of $29.6 billion on revenue of $111.2 billion in the recently ended quarter. "Today Apple is proud to report our best March quarter ever," chief executive Tim Cook said in an... Details

NBR exempts all taxes on electric school bus imports

BSS — Fri, 01 May 2026 11:11:44 +0600

The National Board of Revenue (NBR) has announced a comprehensive waiver of all import-related duties and taxes on electric school buses. The decision, formalized under S.R.O. No. 84/Law/2026/02/Customs issued on April 27, 2026, is intended to encourage the adoption of eco-friendly transportation for students across schools, colleges, universities and similar educational... Details

Oil price hits highest since 2022

Click Ittefaq Desk — Thu, 30 Apr 2026 15:38:16 +0600

Oil prices have jumped to their highest since 2022 after a report that the US military is set to brief President Donald Trump on new plans for potential action in the Iran war. US Central Command has prepared a plan for a wave of "short and powerful" strikes on Iran to try to break the deadlock in negotiations with Tehran, news site Axios reported, according to the BBC. The BBC has contacted... Details

Trade resumes via Benapole port after 3-day halt

UNB — Thu, 30 Apr 2026 14:49:03 +0600

Trade between Bangladesh and India through the Benapole land port resumed on Thursday morning after a three-day suspension linked to the West Bengal assembly elections. Trade activities at the country’s largest land port remained halted since Sunday evening as election-related security measures were enforced in the Indian state. During the halt, commercial movement stopped, although... Details

BB plans special refinance fund to reopen closed factories

UNB — Wed, 29 Apr 2026 20:17:23 +0600

Bangladesh Bank is planning to form a special refinance fund to provide low-interest loans for reopening closed industrial units, aiming to boost employment across the country. According to central bank sources, a high-level 19-member committee, led by Deputy Governor Dr. Md. Kabir Ahmed, has been formed to determine the structure of the fund. The committee will evaluate whether the fund will... Details

Gold prices drop again

UNB — Wed, 29 Apr 2026 15:15:20 +0600

Gold prices in Bangladesh have dropped by Tk 4,432 per bhori over two consecutive days after the Bangladesh Jewellers Association (BAJUS) announced a fresh downward revision on Wednesday, setting the price of 22-carat gold at Tk 2,42,495 per bhori. In a statement issued on Wednesday morning, BAJUS said the price adjustment reflects a decline in local market rates of refined gold. The latest... Details

Why the UAE's exit from Opec is a big deal

Click Ittefaq Desk — Wed, 29 Apr 2026 08:56:35 +0600

It is a very big deal that the United Arab Emirates (UAE) has announced its abrupt exit from Opec, the Organisation of Petroleum Exporting Countries. The Emiratis were members even before they became a nation state in 1971. Opec is the organisation of mainly Gulf oil exporters, which for many decades controlled the price of crude oil by decreasing or increasing production and allocating quotas... Details

UAE quits OPEC in shock move amid energy turmoil

Click Ittefaq Desk — Tue, 28 Apr 2026 20:20:41 +0600

The United Arab Emirates has said it will leave OPEC and the wider OPEC+ group, dealing a major blow to the oil producer alliances during a global energy shock. The loss of the UAE, a longstanding member, threatens to weaken unity within OPEC, which has often masked internal divisions over geopolitics and production quotas, reports the Deutsche Welle. Why is the UAE leaving... Details

Budget airlines cut flights as jet fuel prices soar

BSS — Tue, 28 Apr 2026 15:28:20 +0600

Ryanair, Transavia, Volotea and other low-cost airlines are feeling the financial pain from high jet fuel prices as a result of the Middle East war and are cutting flights. The closure of the Strait of Hormuz has taken a huge chunk of oil supplies off the market, sending the price of jet fuel soaring and triggering fears of shortages that could force airlines to cancel flights. Airlines... Details

US, China fight for the future of energy

Click Ittefaq Desk — Sun, 26 Apr 2026 23:13:13 +0600

Whatever the outcome of the war between the US and Iran, the global energy markets won't return to normal for a very long time. Many observers believe that soaring fuel prices will give a decisive boost to renewable energies. Behind the scenes of the current power struggle in the Persian Gulf, the world's two largest economies are competing over what the global energy architecture of the... Details

'Govt working to modernize tax collection system'

UNB — Sun, 26 Apr 2026 19:25:37 +0600

The Chairman of National Board of Revenue (NBR), Abdur Rahman Khan, on Sunday said the government is working to modernize the tax system to make it more user-friendly and efficient for taxpayers. The NBR chief made the remarks while speaking as the chief guest at a pre-budget discussion for the fiscal year FY 2026–27, organized by the Institute of Cost and Management Accountants of... Details

BGMEA seeks policy support in budget to face challenges

UNB — Sun, 26 Apr 2026 17:42:08 +0600

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has submitted a comprehensive set of proposals for the upcoming 2026-27 national budget, warning that the country’s top export-earning sector is facing an "unprecedented challenge" due to global and domestic factors. A BGMEA delegation, led by its President Mahmud Hasan Khan, submitted the proposals during a meeting... Details

NBR urged to make upcoming budget ‘supportive'

UNB — Sat, 25 Apr 2026 15:28:58 +0600

Metropolitan Chamber of Commerce and Industry (MCCI) on Saturday called on the National Board of Revenue (NBR) to frame the forthcoming national budget as a support mechanism for businesses rather than a burden as domestic industries continue to weather high interest rates and a persistent dollar crunch. MCCI President Kamran T Rahman handed over the chamber's pre-budget proposals to NBR... Details

Forex reserves stand at $35.12b

BSS — Fri, 24 Apr 2026 14:16:12 +0600

Bangladesh's foreign exchange reserves stood at US$35.12 billion, according to the latest data released by the Bangladesh Bank (BB) on Thursday. Under the International Monetary Fund's (IMF) BPM-6 accounting method, the reserves stood at $30.48 billion, BB added. Details