- UK to announce significant hike in visa sponsorship fees
- David Lynch, iconic filmmaker, dies at 78
- Import duty hike sends fruit market in turmoil
- Dhaka's air quality 2nd worst globally this morning
- Unsweetened coffee reduces Alzheimer's disease risk by 30%
- UK central bank's Bailey warns of economic nationalism risks
- Awareness meeting on dowry held in Dinajpur
- Country at 5 risks, inflation at top
- TikTok says it will go dark Sunday without Biden’s interference
- ISRO releases video of SpaDeX satellite docking
- Rangpur Riders extend perfect winning streak to eight
- Israel prepares for hostages’ return
- Old incident of Hindu man's killing falsified as recent communal attack
- Hasina controls mass media horrifically in 15 years rule
- Israeli security cabinet approves Gaza ceasefire deal
- Gaza death toll rises
- Inaugural Women's BPL to kick off in February with 3 teams
- Won't stop until misrule-free Bangladesh is established
- 19 hospitalized in 24hrs
- ‘Groups to be formed in districts-upazilas-unions to combat injustice’
UK central bank's Bailey warns of economic nationalism risks
Bank of England Governor Andrew Bailey has urged global financial leaders, particularly the United States and China, to resist economic nationalism. In a speech released ahead of Donald Trumps inauguration as U.S. president, Bailey emphasized the importance of international cooperation in...
Recession in Business, entrepreneurs seek six-month grace period
As the government walks in line with the International Monetary Funds (IMF) conditions, the amount of non-performing loans (NPLs) increases, turning businessmen into defaulter in comparatively shorter period. Businessmen are not taking this positively and they believe that at least six-month...
No hope on the horizon
From business leaders to ordinary citizens, everyone in Bangladesh is feeling the weight of an escalating crisis. As Abu Ahmed, a former professor at Dhaka University, put it, There is no good news for the common people. Only desperation is growing. More than five and a half months have passed...
IMF predicts steady global growth, disinflation for 2025
The International Monetary Fund (IMF) expects steady global economic growth and ongoing disinflation in 2025, IMF Managing Director Kristalina Georgieva revealed ahead of the updated World Economic Outlook release on January 17, reports Reuters. Georgieva highlighted that the U.S. economy is...
Higher VAT to add pressure on industries
The interim governments decision to increase VAT on 65 itemsincluding medicine, powdered milk, biscuits, juice, fruits, soap, and sweetsmidway through the 202425 fiscal year has sparked outrage among businessmen. Stakeholders expressed frustration over the lack of prior consultation, warning...
VAT burden will upsurge pressure
The interim government has decided to increase VAT [Value Added Tax] rate in the middle of the fiscal year aiming to bolster revenue earnings and satisfy IMF bailout conditions. Instead of providing relief from the pressure of inflation, the government decided to increase the cost of living of the...
Minimal progress, excessive hype
Despite widespread calls to recover money smuggled out of the country over the years, progress has been minimal. International organizations such as the World Bank, IMF, GFI, and ADB have publicly pledged support, but tangible results remain elusive. To date, the limited progress made has mainly...
6 key drivers behind dollar price volatility in Bangladesh
Bangladeshs foreign exchange market faces significant volatility, driven by six critical factors identified by Bangladesh Bank. Spokesperson and Executive Director Husne Ara Shikha outlined these challenges on Monday, highlighting the year-end surge in dollar demand due to December loan repayment...
Gross forex reserves cross $26b: BB
Bangladeshs gross foreign exchange reserves have crossed US$26 billion. According to the latest data, foreign exchange reserves amount to $26.09 billion, reports BSS. However, the reserve stands at over $21.34 billion according to the BPM-6 calculation standard of the IMF, said Bangladesh...
A “controlled” budget to be proposed in next FY
The interim government plans to present a controlled budget due to resource constraints and economic crisis. Sources confirmed that the upcoming budget (2025-26) will not be increased much to restore normalcy in the macro economy. A source in the Finance Division said that allocation in the...
Turkiye raises minimum wage by 30% for 2025
Labor and Social Security Minister Vedat Isikhan announced that Turkiyes minimum wage will rise to TL 22,104 ($630.36) in 2025, reflecting a 30% increase from the previous year. The decision followed the fourth meeting of the Minimum Wage Determination Commission, held on Tuesday. On Tuesday...
WHO issues alert on falsified IMFINZI cancer drug in eastern Mediterranean, European regions
The World Health Organization (WHO) has raised an alert on Monday (Geneva local time) concerning falsified IMFINZI (durvalumab) injection 500mg/10ml, discovered in Armenia, Lebanon, and Türkiye. These counterfeit products, identified in the unregulated supply chain and reported to WHO in November...
IMF expresses concern over commodity prices hike in Bangladesh
The International Monetary Fund (IMF) has expressed concern over the continued rise in commodity prices in the Bangladesh market. For this, the organization has advised the interim government to take effective initiatives to reduce commodity prices. The IMF believes that the Bangladesh economy...
Sri Lanka to ink debt deals by year's end: minister
Cash-strapped Sri Lanka vowed Thursday to complete its long-delayed foreign debt restructure within the month before a 2025 budget adhering to strict revenue targets set by the IMF. The island nation defaulted on its $46 billion external debt in April 2022 after running out of foreign exchange...
Entrepreneurs concerned as NPLs likely to increase
The revised loan classification regulations have deepened concerns among entrepreneurs. Over the past six months, the private sector has seen no new investments, while instability continues to grip the financial sector. In this context, the International Monetary Funds (IMF) latest directives have...
Sri Lanka launches $12.55 billion intl sovereign bond exchange
The Sri Lankan government officially launched the exchange of its outstanding International Sovereign Bonds, totaling approximately $12.55 billion as of November 25, 2024. This move follows the approval of the terms and conditions by the new Cabinet of Ministers, which was formed on November 18,...
Sri Lanka eases monetary policy, sets new single benchmark rate
Sri Lankas central bank set a new single policy rate of 8 per cent on Wednesday, easing monetary settings below previously used benchmarks, in an effort to shore up the island nations fragile recovery from a deep financial crisis. The Central Bank of Sri Lanka (CBSL) said late on Tuesday that it...
IMF Loans: A Double-Edged Sword for Bangladesh
The recent International Monetary Fund (IMF) loan extended to Bangladesh has sparked significant debate about its long-term implications for the countrys economy. While marketed as a lifeline to address balance-of-payments challenges and economic vulnerabilities, the harsh reality is that such...
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...
IMF warns world to avoid global trade war
The International Monetary Fund (IMF) said the world economy could contract by the size of the combined French and German economies, if there is a broad-based trade war between the worlds major economies. It comes as concerns are escalating ahead of the possible reelection of Donald Trump....
Rich nations must pay more to tackle climate changes: G24
The G24 group of nations said on Tuesday that richer countries must put more money on the table to support the worlds developing and emerging market economies, tackle climate and development challenges, or risk undoing recent progress, reports AFP. The global community is falling short of...