Sonali Bank will suspend all banking services in Bangladesh for a scheduled 48-hour database upgrade, The Business Standard reported Wednesday, citing a Bangladesh Bank circular. The report places the shutdown from midnight at the end of Thursday, Oct. 15, through 11:59 p.m. Saturday, Oct. 17. All banking operations and services will be unavailable during that […]
Liquefied petroleum gas (LPG) traders in Bangladesh have canceled a nationwide strike planned for Oct. 15 and 16, averting their announced suspension of cylinder sales and distribution. Selim Khan, president of the LPG Traders Cooperative Association, announced the decision Wednesday after a high-level meeting at the Secretariat and the scheduling of an Oct. 29 public […]
Bangladesh’s offshore oil and gas bidding round has drawn formal bid-document purchases from China’s Sinopec, China National Offshore Oil Corporation International (CNOOC International), and Turkish Petroleum Overseas Company (TPAO), according to Petrobangla records. Bangladesh offered 26 Bay of Bengal hydrocarbon blocks on May 24, including 11 in shallow water and 15 in deep water. Bids […]
Scheduled banks across Bangladesh will close Oct. 20-24 for Durga Puja and weekly holidays, Bangladesh Bank said in a circular issued Monday. The holiday period includes Tuesday through Thursday, Oct. 20-22, for Durga Puja, followed by Friday and Saturday weekly closures. Banks will open Saturday, Oct. 17, under their regular schedules, The Business Standard reported. […]
Bangladesh has asked India to remove restrictions on exports through land ports, withdraw anti-dumping duties on jute products, and preserve tariff preferences after its graduation from least developed country status. A 10-member delegation led by commerce ministry additional secretary Ayesha Akhter raised the requests at bilateral trade talks that began Oct. 8 in New Delhi, […]
Bangladesh opened $8.10 billion in import letters of credit (LCs) in September, the highest monthly total in 53 months, as fuel and raw material costs rose, a Bangladesh Bank official told The Business Standard. Openings increased 22.37% from $6.62 billion a year earlier. Settlements totaled $6.38 billion. Bankers said higher prices, particularly for petroleum products […]
Import and export trade through Bangladesh’s Benapole crossing and India’s Petrapole port will be suspended Oct. 17-24 for Durga Puja, with operations scheduled to resume the morning of Oct. 25. Petrapole authorities informed their Bangladeshi counterparts in writing, The Business Standard reported Monday. Petrapole’s closure runs Oct. 17-21, while Bangladesh’s government holidays halt Benapole’s import-export […]
Bangladesh has signed a $335.78 million concessional loan agreement with the Export-Import Bank of China to expand and modernize Mongla Port, according to the Economic Relations Division (ERD). The agreement was signed Oct. 10 by ERD joint secretary Alia Meher and China Exim Bank assistant general manager Fengjun Tian. Financing will support two container terminals […]
Patients in Bangladesh are struggling to find intravenous (IV) saline as manufacturers cut production, citing rising costs and retail prices unchanged since 2015, The Business Standard reported Monday. Producers said a bag costs around Tk120 (approximately $0.97) to make but has a regulated retail price of Tk87 (approximately $0.71). A price-revision proposal has been pending […]
Bangladesh’s consumer protection agency fined 87 businesses Tk771,500 (approximately $6,264) during nationwide inspections of liquefied petroleum gas (LPG) cylinders and edible oil markets Sunday. The Directorate of National Consumer Rights Protection (DNCRP) deployed 46 teams across Dhaka and 31 districts. Inspectors checked supplies, compliance with government-set prices, price-list displays, weights, expiration dates, receipts, and signs […]
