Govt okays LNG purchase at lower cost

The government yesterday approved a proposal to buy 33.60 lakh Metric Million British thermal units (Btus) of liquefied natural gas (LNG) for $35 per unit, which is cheaper than what it cost just a week ago thanks to a downward trend in global prices. As per the proposal approved by the cabinet committee on purchase, Petrobangla, a corporation of the energy and mineral resources division, will buy the LNG for a total of Tk 1,186.70 crore from Singapore based M/S Vitol Asia Pte Ltd. While addressing a press conference after the meeting, Zillur Rahman Chowdhury, additional secretary of the cabinet division, said the fuel cost more than $36.70 per MMBtu when the government approved a separate proposal to buy the same amount of LNG from Vitol Asia on March 23. The price was previously fixed at $29 per MMBtu just before Russia began its invasion of Ukraine, he added while hoping that LNG prices would return to such levels if the conflict ends soon. Bangladesh had given a loan of $250 million to the island nation through a currency swap last year.

Source: https://www.thedailystar.net/business/economy/news/govt-okays-lng-purchase-lower-cost-2994666

PM offers land to KSA in economic zones

Prime Minister Sheikh Hasina has offered the Kingdom of Saudi Arabia land in the special economic zones as the oil-rich Middle-Eastern country has expressed its keenness to make investment in the Bangladesh’s renewable energy sector. The prime minister also extended support to Saudi Arabia in holding the Expo-2030 as the envoy sought Bangladesh’s support to their candidacy to this end.

Source: https://today.thefinancialexpress.com.bd/trade-market/pm-offers-land-to-ksa-in-economic-zones-1648660559

Banking hours cut for Ramadan

Banks in Bangladesh will remain open from 9:30am to 4:00pm every working day during the month of Ramadan, which may begin on April 3 according to the Bangladesh Islamic Foundation. People will be allowed to conduct banking transactions from 9:30am to 2:30pm, as per a circular issued by Bangladesh Bank yesterday. The banking regulator said office and banking hours would return to their earlier timetable after Ramadan ends.

Source: https://www.thedailystar.net/business/economy/banks/news/banking-hours-cut-ramadan-2994656

‘Hello Bima’ launched by MetLife Bangladesh

With a view to making insurance-related information more accessible, MetLife Bangladesh has launched the country’s first dedicated, toll-free insurance query hotline titled ‘Hello Bima’. Available to anyone with a telephone or mobile connection, Hello Bima will serve as a dedicated contact centre for callers to ask questions about insurance and its benefits. Hello Bima hotline can be accessed by dialling toll-free number 08000016344 from 9:00am to 6:00pm, Sunday to Thursday.

Source: https://today.thefinancialexpress.com.bd/trade-market/hello-bima-launched-1648660414