India’s retail inflation accelerated to a five month high of 7.30% in September due to surging food prices, staying well above the Reserve Bank of India’s (RBI) upper tolerance band for a ninth month, a Reuters poll found. Fueled by erratic rainfall and supply shocks from Russia’s invasion of Ukraine, prices of daily consumables like cereals and vegetables which form ...
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Solar could reduce Bangladesh’s spot LNG imports by 25pc, save $2.7bn
Spot market LNG imports could cost Bangladesh about $11 billion between 2022 and 2024, according to a mini briefing published by Ember, a global energy think tank. Heavy reliance on gas generation, diminishing domestic gas reserves, lack of alternative renewable generation capacity and new coal power becoming increasingly unviable have all led Bangladesh to rely more and more on Liquefied ...
Read More »WB lowers Bangladesh’s GDP growth forecast at 6.1pc as global shocks spread
The World Bank has lowered its forecast for Bangladesh’s economic growth for fiscal 2022-23 by a 0.6 percentage point to 6.1 per cent. While economic distress is weighing down all South Asian countries, some are coping better than others, the World Bank said in a new report released on Thursday. Bangladesh is one of them. The World Bank cut its ...
Read More »Sugar price hiked, palm oil price lowered
Ministry of Commerce has fixed the price of palm oil at Tk 125 reducing by Tk 8 per litre. Besides, the price of sugar has been increased by Tk 6 per kilogram. The new prices will be effective from Friday. Commerce Secretary Tapan Kanti Ghosh announced the new prices after a meeting with the Bangladesh Vegetable Oil Refiners and Vanaspati ...
Read More »Pound at two-week high after spending plan reports
The pound has risen to its highest level for two weeks on hopes Kwasi Kwarteng will bring forward details of how he will cut debt. It rose to $1.14, recovering after the chancellor’s plans to fund tax cuts by extra borrowing rattled investors. The pound remained high despite confusion over when he would set out his debt-cutting plan. It is ...
Read More »Remittance fell in Sept due to exchange rate volatility: Bangladesh Bank
Bangladesh Bank spokesperson Md. Serajul Islam on Tuesday blamed the extreme volatility in the forex market in recent months on the global strength of the dollar against almost all currencies. “Not only in Bangladesh but also in neighboring countries, the price of the US dollar has increased. In many South Asian countries, it is higher than it is in Bangladesh,” ...
Read More »Soybean oil price drops by Tk 14 a litre
The bottled soybean oil price has been dropped by Tk 14 a litre to Taka 178 per litre from the existing Taka 192 per litre. The new price will come in effect from tomorrow (Tuesday). Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association announced the decision in a press release on Monday. It said that the new retail price of ...
Read More »Rajeev Sethi made Robi CEO
Robi Axiata has appointed Rajeev Sethi as the company’s chief executive officer. Sethi joins Robi following his role at Myanmar’s leading mobile operator, Ooredoo, as its CEO. Prior to that, he served as the chief commercial officer at Airtel for Africa. He will be replacing M Riyaaz Rasheed, who has been serving as Robi’s acting chief executive officer since August ...
Read More »LPG price cut by Tk 35 a 12kg cylinder
Bangladesh Energy Regulatory Commission (BERC) has adjusted downward the price of liquefied petroleum gas (LPG) by Tk 35 per 12kg cylinder to Tk 1,200 from the existing rate of Tk 1,235 as sold by the private companies. The new price rate will come into effect from 6pm today, BERC Chairman Abdul Jalil announced at a virtual press conference. The price ...
Read More »Complaints over extra bus fare on e-tickets
Passengers have voiced concern over buses charging them extra fares despite the introduction of e-ticketing, a method to prevent misconduct and discipline runaway public transport. Buses are supposed to pick up passengers only from pre-assigned stations, but the drivers and their assistants breach the rules by stopping anywhere they find travellers. On top of that, the buses ask each passenger ...
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