Business

World Bank Vice President for the South Asia Region, Martin Raiser, will arrive in Dhaka tomorrow. He will be accompanied by the incoming Country Director for Bangladesh and Bhutan, Abdoulaye Seck. “I am glad to be back in Bangladesh and to continue discussing with the government the important reforms that can help the country stay on the resilient and inclusive ...

Meta Platforms said on Wednesday (Nov 9) it will let go of 13 per cent of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as the Facebook parent battles soaring costs and a weak advertising market, reports Reuters. The broad job cuts, the first in Meta’s 18-year history, follow thousands of layoffs ...

The International Monetary Fund said Tuesday it reached an agreement with Kenyan authorities following the country’s “peaceful completion of elections” which opens the door to the next installment of aid under an existing $2.3 billion loan program. The African nation is among many to seek help after being hit by volatile global commodity prices, surging inflation and an international slowdown ...

Bangladesh’s foreign exchange reserves is falling due to meeting import demand of essential goods and a downward trend in remittance-export incomes, the latest data of Bangladesh Bank revealed. After paying $1.35 billion to Asian Clearing Union (ACU) as an import bill for September-October, and $131 million spent to meet LC liabilities, the forex reserves stood at $34.3 billion at the ...

Visiting delegation of the International Monetary Fund (IMF) in a meeting on Monday suggested capacity building of the Bangladesh Securities and Exchange Commission (BSEC) to act in a way so that people from various backgrounds are included in the market. BSEC’s executive director and spokesperson Razaul Karim told UNB that in the scheduled meeting the IMF team suggested product diversification ...

The World Gold Council’s latest Gold Demand Trends report reveals that gold demand (excluding OTC) in the third quarter of 2022 hit 1,181 tonnes, up 28% year-on-year. Strong demand pushed the year-to-date total to its pre-COVID levels. Gold demand was bolstered by consumers and central banks, although there was a notable contraction in investment demand. Investment was down 47% year-on-year, ...

Saudi Arabia announced on Thursday the launch of its first brand of electric vehicles, part of a broader push to diversify the economy of the world’s biggest oil exporter. The company, known as Ceer, “will contribute to Saudi Arabia’s efforts towards carbon emissions reduction and driving sustainability to address the impact of climate change,” the official Saudi Press Agency said. ...

Mr. Charles Whiteley, Ambassador and Head of Delegation of the European Union to Bangladesh, on Thursday morning paid a courtesy call on FBCCI President Md. Jashim Uddin at FBCCI office in Dhaka. While talking on bilateral trade and investment between the countries, FBCCI President informed the Ambassador about the golden jubilee celebration of FBCCI to be held in March 2023 ...

New Bangladeshi private carrier Air Astra will start operations in November. The airline received the go-ahead from the Civil Aviation Authority of Bangladesh (CAAB) on Thursday. Air Commodore Shah Kawsar Ahmed Choudhury, Member for Flight Standards and Regulations of CAAB, handed over the Air Operator Certificate (AOC) to Imran Asif, Chief Executive Officer and Accountable Manager of Air Astra, at ...

Price of liquefied petroleum gas (LPG) has again been increased by the Bangladesh Energy Regulatory Commission (BERC). The BERC has fixed the price of a 12-kg LPG cylinder at Tk 1,251, raising by Tk 51. A 12-kg LPG cylinder has so far been sold at Tk 1,200. BERC chairman Abdul Jalil announced the new prices through a virtual press conefernce ...