Gold price hits all-time high of Tk100,777 per bhori

The price of top-quality gold has reached an all-time high of Tk100,777 per bhori following an increase of Tk2,333. The Bangladesh Jeweller’s Association (BAJUS) in a press release on Thursday said the adjustment followed a price hike in the local bullion market. With the new rates, 22-carat gold will cost Tk100,777 lakh per bhori, 21-carat gold will cost Tk96,228 per bhori and 18-carat gold will cost Tk82,464 per bhori. Besides, the gold price of the traditional method rose to Tk68,701 per bhori.

Source: https://www.tbsnews.net/markets/gold-price-hits-all-time-high-tk178-lakh-bhori-668794

Foreign direct investment on dive

Foreign direct investment in Bangladesh seems on a dive as the net FDI inflow marked about 30-percent annualized fall in the first quarter of this year, under lingering shadows of global economic upset. Latest statistics available with the central bank show the ebb tide in flow of foreign capital into the country, acting as one of major factors for its deficit in financial account. Among the other reasons the country sees prolonged balance-of-payments (BoP) shortfall are below-par remittance and export receipts, according to finance officials and economists. The unhappy development in the area of inbound overseas investment comes at a time when the 450-billion-plus economy is passing tough times amid forex dearth in the wake of the country’s falling foreign-currency reserves. In the January-March period of 2023, the FDI-starved Bangladesh received net inflow of overseas investment equivalent to US$ 626.47 million, down 29.49 per cent from US$ 888.48 million recorded in the same period of time a year before. According to the BB data, the gross volume of forex reserves remained on a slide, amounting to $29.85 billion as of July 19, 2023 by official count, but the net volume of reserves under the IMF’s BPM6 manual is equivalent to $23.45 billion.

Source: https://today.thefinancialexpress.com.bd/first-page/foreign-direct-investment-on-dive-1690134376

 BD, Japan ink three MoUs on trade

Bangladesh and Japan inked three memorandum of understandings (MoUs) to enhance bilateral trade and investment between the two countries. The MoUs were signed at a daylong summit on “Bangladesh-Japan economic relations for the next 50 years: for the industry upgradation of Bangladesh” held at a hotel in the city on Sunday. The Japan External Trade Organisation (JETRO), Bangladesh Investment Development Authority (BIDA), and the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) jointly organised the summit.

Source: https://today.thefinancialexpress.com.bd/trade-market/bd-japan-ink-three-mous-on-trade-1690132427