Business

The US dollar soared to Tk 119 in kerb market on Wednesday, which was the highest in the country’s history. On Wednesday (August 10) morning, the US dollar jumped to Tk 118-119 in the kerb market. Most money exchanges are more interested in buying than selling because of the shortage of cash dollars. On Monday (August 8), the price of ...

Oil prices eased on Wednesday after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand, though concerns over supply kept losses in check. Brent crude futures fell 23 cents, or 0.2%, to $96.08 a barrel at0323 GMT, reports Reuters. U.S. West Texas Intermediate crude futures declined 28 cents, or 0.3%, to $90.22 a ...

The production of taro, a popular and nutritious vegetable in Bangladesh, is on the rise as farmers are increasingly cultivating it after enjoying a good amount of profit. The farmers said taro brings good profit due to its relatively low production cost. Commercial cultivation amid growing demand brings plenty of taro in the country’s market this season. There are different ...

Oil prices dropped on Monday, hovering near multi-month lows, as recession fears hurt demand outlook and data pointed to a slow recovery in China’s crude imports last month. Brent crude futures dropped 74 cents, or 0.8%, to $94.18 a barrel by 0039 GMT. Front-month prices hit the lowest levels since February last week, tumbling 13.7% and posting their largest weekly ...

Edible oil importers of the country have proposed the government to increase soyabean oil price by Tk 20 per litre. Bangladesh Vegetable Oil Refiners and Vegetable Manufacturers Association (BVORVMA) made the proposal to the Bangladesh Trade and Tariff Commission on August 3. It was stated in the proposal that the price of unpacked (loose) soyabean oil be raised to Tk ...

China has announced duty-free access to 99 per cent of Bangladeshi goods, raising from the existing 98 per cent. It has been seen a major win for the local exporters during Chinese Foreign Minister Wang Yi’s Dhaka visit. Yi discussed the decision during a bilateral meeting with Bangladesh Foreign Minister AK Abdul Momen on Sunday. “It’s good news for Bangladesh ...

Global oil prices have dropped to their lowest levels since before Russia’s February invasion of Ukraine, as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand, reports Reuters. Benchmark Brent crude futures settled down $2.66, or 2.75%, at $94.12, the lowest close since Feb. 18. West Texas Intermediate (WTI) crude futures settled ...

The government is in talks with the multilateral lenders to get more budget support in three years to ease economic pressure stemming from the lingering corona crisis and the Ukraine war. The receipt of budget support increased in the last three years to procure corona vaccines and provide stimulus loans on the back of a slump in domestic resources during ...

The Bank of England (BoE) has raised interest rates to 1.75% from 1.25% – the highest level since January 2009. A warning has also been issued by the BoE that the UK is set to plunge into the longest recession since the financial crisis. The recession is set to begin in autumn, and last for more than a year, as ...

State-owned Bangladesh Power Development Board (BPDB) seeks Tk 30 billion loan from Power Sector Development Fund (PSDF) to pay bills of purchasing costly electricity from the private sector power producers. BPDB Secretary Mohammed Salim Reza wrote an official letter to the Power Division’s secretary recently in this matter. This development followed the private sector power producers’ call for the power ...