Business

Treasury Secretary Janet Yellen projected calm on Tuesday after recent regional bank collapses but told a gathering of bankers that additional rescue arrangements “could be warranted” if any new failures at smaller institutions jeopardize financial stability. Yellen, who made her remarks at the American Bankers Association, said that overall “the situation is stabilizing.” “And the U.S. banking system remains sound,” ...

Bangla Mirror Desk:   The British High Commission, the British Council and the new Imperial College Alumni Association of Bangladesh came together to celebrate the UK’s excellence in Science and Medicine, Technology, Engineering and Mathematics, by arranging a reception at the British High Commissioner’s Residence.. The event was inaugurated by the British High Commissioner, HE Mr Robert Chatterton Dickson. He ...

The Reserve Bank of India, in its monthly bulletin on Tuesday, noted that consumer price inflation (or retail inflation) in India remained high while core inflation defied to reflect the softening of various input costs. “Consumer price inflation remains high and core inflation continues to defy the distinct softening of input costs,” RBI said in the ‘State of the Economy’ ...

The International Monetary Fund said Monday that its executive board has approved a nearly $3 billion bailout program for Sri Lanka over four years to help salvage the country’s bankrupt economy. About $333 million will be disbursed immediately and the approval will also open up financial support from other institutions, the IMF said. “Sri Lanka has been facing tremendous economic and ...

This year’s Ramadan is still a couple of days away, but a segment of traders already appears eager to increase profit margins by raising the prices of different commodities. The government however claims to be on to them, and has taken various initiatives to keep the market stable during the holy month. Prime Minister Sheikh Hasina has directed officials to ...

Biman’s Managing Director and CEO Shafiul Azim said they will not reduce the hajj airfare this year. He said the state-owned Biman Bangladesh Airlines will not slash this year’s hajj airfare despite calls from different quarters, including the religious affairs ministry, for reducing the ticket price. He said this at a press conference held at Balaka Bhaban in Kurmitola in ...

The rapidly-growing bottled water industry can undermine progress towards a key sustainable development goal: Safe water for all, says a new United Nations report. Based on an analysis of literature and data from 109 countries, the report says that in just five decades bottled water has developed into “a major and essentially standalone economic sector,” experiencing 73 per cent growth ...

The gold price in the local market has jumped by Tk 7,698 to record Tk 98,794 per bhori (11.664 grams) with effect from Sunday. The price of 22-carat gold is now Tk 8,470 per gram, while it is Tk 8,085 for 21-carat gold, according to a press release issued by Bangladesh Jewellers’ Association (BAJUS) on Saturday. The price of 18-carat ...

The Bangladesh economy has shown signs of improvement in overcoming the deepening dollar crisis caused by the Russia-Ukraine war, with an improvement in forex supply at banks. This has led to importers suffering less from the dollar crisis, as banks are approving more import Letter of Credit (LC) openings than during the peak crisis moment, according to insiders in the ...

An air-conditioned container loaded with watermelons from Bangladesh is being exported to Malaysia through Chattogram seaport today (Friday). Sattar International located in Halishahar of Chattogram is exporting a total of 13,320 kilogram watermelon to Malaysia in the first shipment. Replying to a query, owner of Sattar International Abdul Qaium said “We are exporting this watermelons buying from Shibganj of Bogura. ...