Business

British billionaire Sir Richard Branson’s rocket company Virgin Orbit has filed for bankruptcy in the US after failing to secure new investment. The satellite launch company halted operations weeks ago but it hopes to find a buyer for the business. The company, based in California, announced last week that it would cut 85% of its 750-strong workforce. Earlier this year, ...

Inflation in Bangladesh rose to 9.33 per cent in March, which was 8.78 per cent in the previous month of February, said Planning Minister MA Mannan on Tuesday (April 4, 2023). Presenting the Bangladesh Bureau of Statistics (BBS) data on inflation, MA Mannan stated it to journalists after a meeting of the Executive Committee of the National Economic Council (ECNEC) ...

Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Higher oil prices would help fill Russian President Vladimir Putin’s coffers as his country wages war on Ukraine and force Americans and others to pay ...

Inward remittance flow to Bangladesh witnessed a seven-month high in March as expatriate Bangladeshis sent a remarkable amount of greenback worth around $2.02 billion to their near and dear ones centring the upcoming holy Eid-ul-Fitr. Expatriates sent home $2.02 billion last month, the highest since September last year when $1.53 billion flew into the country, data from the Bangladesh Bank ...

Bangladesh Energy Regulatory Commission (BERC) has adjusted downward the price of liquefied petroleum gas (LPG) by Tk 244 per 12kg cylinder to Tk 1,178 from the existing rate of Tk 1,422 as sold by the private companies. The new price is effective from today, according to a BERC notice. With the revised price, per kg of LPG will be Tk ...

Chairman of Amin Mohammad Group Alhaj MM Enamul Haque passed away at his Gulshan residence in the capital on Saturday. He died around 11:18pm. He was 64. Alhaj MM Enamul Haque was also the President of Editorial Board of Dainik Shomoyer Alo. He left behind wife, two sons, a daughter and a host of relatives and well-wisher to mourn his ...

Gold prices in the country has set a new record, with each bhori (11.66 grams) now fixed at Tk 99,144. Bangladesh Jewellers Association (Bajus) has fixed this all-time high rate which is going be implemented from Sunday (April 2, 2023). The Bajus revealed the details in a press release, signed by its standing committee’s vice-chairman Enamul Huq Bhuiyan Liton, on ...

The government has approved the commercial cultivation of vannamei shrimp — also known as king prawn — in Bangladesh. The Ministry of Fisheries and Livestock approved the cultivation of vannamei shrimp in a letter to the Director General of the Fisheries Department on March 29. At the same time, guidelines for commercial shrimp cultivation in Bangladesh were provided. Vannamei shrimp ...

Ajay Banga, the American pick to lead the World Bank, was the only candidate nominated for the position, the bank confirmed Thursday, paving the way for his likely appointment in the coming months. “In accordance with established procedures, the executive directors will conduct a formal interview with the candidate in Washington, DC, and expect to conclude the presidential selection in ...

Japan on Friday unveiled planned export controls on 23 items used to make semiconductors, following US pressure for countries to restrict Chinese access to the technology. The move was announced as Tokyo confirmed its top diplomat will visit Beijing this weekend, the first Japanese foreign minister to make the trip in over three years. As the world’s second- and third-largest ...