Tata Motors launched India’s lowest priced electric car at a little over $10,000 on Wednesday as the country’s only electric vehicle (EV) maker looks to draw in more buyers. Tata leads India’s EV market, helped by government subsidies and high tariffs on imports. Its move comes as domestic rival Mahindra & Mahindra is in talks with investors to raise up ...
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IMF slams UK government’s tax plan
The International Monetary Fund has openly criticised the UK government over its plan for tax cuts, warning that the measures are likely to fuel the cost-of-living crisis. In an unusually outspoken statement, the IMF said the proposal was likely to increase inequality and add to pressures pushing up prices, reports BBC. Markets have already raised alarm over the plans, sending ...
Read More »Pound rebounds after record dollar low
The British pound rebounded Tuesday after sinking to a record low against the dollar on concerns a UK government tax-cut plan could derail public finances. Sterling jumped 1.34 percent to $1.0832. On Monday, it struck an all-time low at $1.0350, perilously close to parity. After the plunge, the Bank of England said it was playing close attention to financial markets, ...
Read More »ADB to devote $14 billion to help ease food crisis in Asia-Pacific
The Asian Development Bank said Tuesday it will devote at least $14 billion through 2025 to help ease a worsening food crisis in the Asia-Pacific. The development lender said it plans a comprehensive program of support to help the 1.1 billion people in the region who lack healthy diets due to poverty and soaring food prices. The Manila, Philippines-based ADB ...
Read More »New York State Assembly conferred ‘Honor’ to FBCCI president
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin has received prestigious “Honor” from New York State Assembly, the lower chamber of the New York State Legislature. Md Jashim Uddin is the very first Bangladeshi business leader, honored by the New York State Assembly for his exemplary service to career, community and families through his endless ...
Read More »Apple says it will manufacture iPhone 14 in India
Apple Inc said on Monday it will manufacture its latest iPhone 14 in India, as the tech giant moves some of its production away from China. The company launched the flagship iPhone 14 at an event earlier this month, where it focused on safety upgrades rather than flashy new technical specifications, with the exception of a new adventure-focused watch, reports ...
Read More »Price fall in large-cap drives stocks down
Country’s both the bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) – on Sunday plunged due to mainly price fall in large-cap securities. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 48.84 points or 0.74 percent to 6,515.16. Two other indices also ended sharply lower with the DSE 30 Index, comprising blue chips, ...
Read More »Oil plunges to eight-month low on strong dollar, recession fears
Oil prices plunged about 5% to an eight-month low on Saturday as the U.S. dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession, cutting demand for oil, reports Reuters. Brent futures fell $4.31, or 4.8%, to settle at $86.15 a barrel, down about 6% for the week. ...
Read More »Boeing to pay $200m over 737 Max crash statements
Boeing is to pay out $200m (£177.5m) over charges that it misled investors about two fatal 737 Max crashes. The US stock market regulator said the aviation giant and its former chief executive Dennis Muilenburg made false statements about safety issues. Boeing “put profits over people” in an effort to rehabilitate its image, according to the Securities and Exchange Commission ...
Read More »Palm oil, sugar prices fixed by govt
The Ministry of Commerce on Thursday (Sept 22) fixed the millgate, dealer and maximum retail prices of loose palm oil and refined and packaged loose sugar as per the recommendations of the Bangladesh Trade and Tariff Commission (BTTC). A circular signed by Commerce Ministry’s deputy secretary Khandker Nurul Huque, on Thursday (Sept 22) said the new prices would be effective ...
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