২৩ নভেম্বর, ২০২৪ ১৫:২৭ এর সব খবর

Saturday, 23 November, 2024

E-Paper বাংলা

Headline

Bangladesh Bank criticizes Moody’s downgrade rating

Bangladesh Bank (BB) has challenged Moodys recent downgrade of the countrys sovereign credit rating, stating it fails to reflect the significant political and economic advancements since July 2024. On November 19, Moodys lowered Bangladeshs sovereign rating from B1 to B2, maintaining a...

BB issues guidelines for operations of business in country by JVCA

Bangladesh Bank (BB) has issued guidelines for operations of business in Bangladesh by Joint Ventures or Consortiums or Associations (JVCA) having foreign partner (s) in order to make the process more transparent and more accountable, reports BSS. The central bank in a circular issued on...

Israel threatens, attacks Palestinian farmers harvesting olives

On a Thursday afternoon towards the end of last month, a 59-year-old Palestinian woman set out to gather olives on her familys land near the village of Faqqua, in the north of the occupied West Bank. It was something that Hanan Abu Salameh had done for decades. Within minutes, the mother of...

70,000 Gazans at risk of starvation and deadly thirst

Palestinian Civil Defence sources in the Gaza Strip have reported that 70,000 civilians in the northern Gaza Strip at West Bank are at risk of starvation and deadly thirst if they survive the intense Israeli attacks, amid an intensified siege that has been ongoing for over a month, reports Middle...

Bangladesh to receive $1.1bn from ADB, WB by Dec: Finance secretary

The Asian Development Bank (ADB) and the World Bank will provide $600 million and $500 million in loan assistance respectively by December 2024, said Finance Secretary Dr Md Khairuzzaman Mozumder on Tuesday. He made the disclosure during a press conference at the Ministry of Finance, organised...

No banks to be shut down: Finance Adviser

Finance Adviser Salehuddin Ahmed stated on Tuesday that while some banks are recovering well, others may continue to face challenges, but none of them will be shut down. Some banks are recovering. Islami Bank, the largest bank, is improving. However, some banks will continue to struggle. But we...

Bangladesh receives $1.25bn remittance in 1st 16 days of Nov

Some $1.25 billion in remittances has been received during the first 16 days of November. At an exchange rate of Tk 120 per dollar, this amounts to approximately Tk 15,062 crore in Bangladeshi currency. Bangladesh Bank (BB) released a report on this matter on Sunday. According to the central...

Receiver appointments deepen industry crisis

There are numerous precedents for appointing receivers in industrial establishments in the country in the aftermath of various events. However, unfortunately, in almost every case, the outcome has been unfavorable. Many once-established industrial groups have turned into moribund enterprises after...

Country's default loans stand at Tk 2,85,000 crores

Non-performing loans (NPLs) in Bangladeshs banking sector stood at Tk 2 lakh 84 thousand 977 crores at the end of September this year, which is 16.93 percent of the total disbursed loans. Indeed, this is the highest ratio of disbursed loans to bad loans in the last 16 years. An updated report of...

Businesses scuffle amid rising interest rates

The business sector in Bangladesh is grappling with a crisis due to successive increases in loan interest rates. Rising costs have stalled investments, creating widespread challenges. Business leaders point out that while consumer loan rates are typically raised globally to curb inflation, in...

Govt's bank loans reach Tk 59516 crore in first quarter of fiscal year

To cover the budget deficit, the government borrowed Tk 59,516 crore from the banking system in the first four months of FY 2024-25, with a significant portion directed to repaying debt to Bangladesh Bank. A confidential report from Bangladesh Bank reveals that the Ministry of Finance raised Tk...

LC Margin for fertilizer imports relaxed

The import procedure for fertilizer has been streamlined to ensure a steady supply to farmers at the grassroots level. The Bangladesh Bank has relaxed the LC (letter of credit) margin for fertilizer imports, allowing LCs to be opened with a minimum margin, depending on the bank-customer...

Elon Musk issues urgent U.S. 'Bankruptcy' warning amid $3 trillion Bitcoin and Dogecoin price surge

Elon Musk, the Tesla billionaire who recently campaigned in support of U.S. president-elect Donald Trump, has been issuing warnings about a potential financial emergency on the horizon. Musks concerns about the U.S.s growing $35 trillion debt have intensified as the price of Bitcoin continues to...

ECB's Villeroy warns Trump's economic agenda could threaten global economy and trigger inflation

Francois Villeroy de Galhau, the head of the Bank of France and a member of the European Central Bank (ECB), warned on Wednesday that U.S. President-elect Donald Trumps economic agenda could reignite inflation in the United States and negatively impact global economic growth. The programme risks...

Interim government confirms no plans to shut down businesses

The interim government has assured the public that no business establishments in the country will be closed, emphasizing that businesses will remain operational. Government officials have reiterated their commitment to supporting the economy by fostering investment and creating job opportunities....

Australia moves to keep its banks in Pacific

Australia will move to stem the exodus of its banks from the Pacific Islands, the countrys top economic official said, as concerns mount that China could bolster its influence by filling in the gaps. For years, Western banks have been shuttering branches throughout the South Pacific, citing...

Smotrich declares 2025 as year Israel will impose 'sovereignty' on West Bank

Israeli Finance Minister Bezalel Smotrich has declared that imposing sovereignty over the occupied West Bank is the only way to eliminate the threat of a Palestinian state. He announced that 2025 will be the year Israel implements this policy, despite international law designating the West Bank as...

Bangladesh Bank restructures board

Bangladesh Bank (BB) has restructured its Boardof Directors by adding three new members. The development came through a board meeting held today at the BBheadquarters in the city, said Husne Ara Shikha, BB Executive Director andspokesperson, after the meeting, reports UNB. The three new...

Entrepreneurs targeted by resentment

The Bangladesh Bank or the Financial Intelligence Unit (BFIU) cannot appoint a receiver to any business entity on its own. If a receiver needs to be appointed, it requires a lengthy process. However, in recent days, several media outlets have reported that receivers have been appointed to 10...

Bank of England cuts interest rate amid falling inflation

The Bank of England (BoE) cut its key interest rate on Thursday by 25 basis points to 4.75%, signaling further reductions as UK inflation dropped to a three-year low of 1.7%. This is the BoEs second rate cut since August, and follows a trend among major central banks in easing borrowing costs after...

No liquidity crisis, Tk 5,585cr infused to 7 banks: Bangladesh Bank

Bangladesh Bank has reassured the public, stating that there is no liquidity crisis in the banking sector and that depositors funds remain safe and secure. At a press briefing on Wednesday at the central bank headquarters, Husneara Shikha, Executive Director and Spokesperson of Bangladesh Bank,...

Fact-checking is a must: Zahid Hussain

Dr Zahid Hussain said that general people and businessperson are getting panic-stricken upon watching some news and thats why fact-checking has become more important. Dr Zahid Hussain, former lead economist of the World Banks Dhaka office, made these remarks on Tuesday while talking to the...

Southeast Bank collaborates with Mastercard, Zantrik to launch a unique prepaid card for car maintenance

Southeast Bank PLC.on Tuesday announced its collaboration with Mastercard and Zantrik Limited, a vehicle maintenance startup, to launch a prepaid card for the growing number of car owners in the country. The card lauunching event was held at the head office of Southeast Bank PLC. in Motijheel of...

WB to explore scopes for supporting climate goals, sustainable development

The World Bank (WB) and the environment ministry have agreed to explore project areas and strategic interventions for bolstering Bangladeshi initiatives on climate adaptation, sustainable development, and biodiversity conservation. The decision was taken at a meeting between environment and...

Industrial production slumps amid investment crisis

The country is experiencing stagnant investment due to various issues, including high interest rates, instability in industrial zones and a power and energy crisis. This has stunted job creation, and industrial production has hit rock bottom. Amid the push to create extensive employment for...

Decline in LC opening and settlement

In the latest quarterly report, Bangladesh Bank (BB) has revealed a decline in the opening and settlement of letters of credit (LCs) during the first quarter of the current financial year, spanning July to September. The report indicates that the total number of LCs opened fell by approximately 7...

Cyber attacks on banks rise: Bangladesh Bank

Bangladesh Bank has reported a troubling rise in the incidence of cyber attacks on the countrys banks. In light of this, banks and financial institutions have been urged to implement various precautionary measures. In a letter, S.M. Tofayel Ahmad, Additional Director of the Information and...

Governor takes chair of the SAARC Finance Network

Ahsan H. Mansur, the Governor of Bangladesh Bank, has assumed the role of Chairperson of the SAARC Finance Network. He was appointed to this position during the 46th SAARC Finance Governors Group Meeting held in Washington, D.C. on October 24, for a term of one year. He takes over as Chair...