Business

A Philippine bank at the centre of an unsolved $81 million cyber heist has appealed a New York Supreme Court decision to dismiss the bank’s motion to throw out the Bangladesh central bank’s lawsuit against it. In February 2016, unidentified hackers used fraudulent orders on the SWIFT payments system to steal $81 million from Bangladesh Bank’s account at the Federal ...

Air India has been fined 3 million Indian rupees ($37,000) for its handling of an unruly passenger on one of its flights in November, India’s aviation regulator said on Friday. The licence of the pilot-in-command on the New York-New Delhi flight, where the incident took place, was also suspended for three months while a penalty of 300,000 rupees was imposed ...

Investment demand for gold should push prices to all time-highs above $2,000 in 2023 as the U.S. economy falls into a recession, according to David Rosenberg, founder and chief economist at Rosenberg Research. In an exclusive interview with Kitco News, Rosenberg said that when it comes to the health of the economy, the only questions investors should be asking themselves ...

The government will procure 1.10 crore litres of soybean oil for the state-run Trading Corporation of Bangladesh (TCB) from local source. The decision was taken on Thursday at a meeting of the Cabinet Committee on Government Purchase (CCGP) chaired by Finance Minister AHM Mustafa Kamal. Briefing reporters virtually after the meeting, Cabinet Division Additional Secretary Syed Mahbub Khan said the ...

A 15-year-old boy has been rescued from a container, shipped to Malaysia’s Klang port from Chattogram, Chattogram port authorities said on Wednesday. SM Foysal Ahmed, assistant manager of Continental Traders, said the Integra was shipped from Chattogram port to Klang port in Malaysia on January 12 and reached the latter on January 16, reports UNB. Hearing screams coming from an ...

U.K. inflation eased for a second month in December, boosting confidence that the cost-of-living crisis has peaked. Consumer prices rose 10.5% in the year through December, down from 10.7% the previous month, the Office for National Statistics said Wednesday. Inflation peaked at a 41-year high of 11.1% in October. While the drop is welcome, inflation is still running at levels ...

Russia’s largest bank Sberbank said Wednesday that it was launching operations on the Crimean peninsula, annexed by Moscow in 2014, and would open offices there this year despite Western sanctions against companies working there. “Sberbank has put together a team and is starting to work on the Crimean peninsula,” said the lender, which was hit with Western sanctions over Moscow’s ...

After electricity, now the government has hiked the gas prices for public, private and captive power plants and also for industries and commercial users. The new prices will be effective from February 1, according to a gazette notification issued on Wednesday. As per the gazette notification, the public and private power plants including the IPP and rental power plants will ...

Bangladesh’s economy has been experiencing stress for last couple of months because of the pressure on the foreign exchange reserves, continuous increase in commodity prices, energy crisis, dollar crisis in banks, decrease in expatriate income and collapse in export earnings. As a result, the businessmen are struggling to open letter of credit or LC. But, the money laundering is going ...

The global economy is heading towards a “recession” which will affect not only large economies but also small economies, including countries like Bangladesh, said an independent think-tank on Tuesday. Tensions over the maritime space could be “accelerated” as there is increased Indo-Pacific “competition and uncertainty” over the Pacific island waters, it said. Sharing its “security insight,” Bangladesh Institute of Peace ...