Business

The European Central Bank piled on another outsized interest rate hike aimed at squelching out-of-control inflation, increasing rates at the fastest pace in the euro currency’s history and underscoring the bank’s determination to control prices despite the threat of recession. The 25-member governing council raised its interest rate benchmarks by three-quarters of a percentage point at a meeting Thursday in ...

Bangladesh is not being able to cash in on the duty-free market access offered by China as the country’s exports to China is still very low compared to imports. The country managed to export only $683.4 worth of goods to China in FY 2021-22, which was only 1.31 percent of the country’s total export volume, according to commerce ministry data. ...

A Thai celebrity media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, marking the first time the beauty pageant organiser will be owned by a woman, her company said on Wednesday. Jakapong “Anne” Jakrajutatip, CEO and biggest shareholder of JKN Global Group Pcl (JKN), is a celebrity in Thailand, starring in local versions of ...

General Motors confirmed its full-year financial forecast Tuesday, lifting shares as it reported strong consumer demand in spite of a “challenging” environment with grinding inflation. The big US automaker scored a 37 percent jump in third-quarter profits to $3.3 billion, bolstered by strong vehicle pricing in a market with historically low auto inventories. Revenues jumped 56 percent to $41.9 billion, ...

Vietnamese budget airline VietJet Air plans to start direct flights between Vietnam and Bangladesh on the Hanoi-Dhaka route from December 2022. Initially, the operation will start with chartered flights, but there is a plan to start regular flights in phases based on passenger demand, said Taslim Amin Shovon, director and CEO of InnoGlobe Travel and Tours Limited, the Bangladeshi partner ...

Jewellers lowered the price of gold by Tk 1,166 to Tk 80,131 per bhori (11.664 gram) as price of pure gold fell in the local market. The price of 22-carat gold is now Tk 6,870 per gram while it is Tk 6,560 for 21-carat gold, according to a press release of Bangladesh Jeweller’s Association (BAJUS) issued on Monday. The price ...

Dr. Mohammad Afroz Jalil, Country Manager of Roche Bangladesh Ltd. has been elected President of the Switzerland Bangladesh Chamber of Commerce and Industry (SBCCI) for 2022-2024. Swiss Ambassador to Bangladesh, Nathalie Chuard, conveyed best wishes to SBCCI and shared her experience on Bangladesh and potential business opportunities. “This year has been significant for both Switzerland and Bangladesh. We are celebrating ...

The price of sugar has skyrocketed in the market as the supply of the food has drastically decreased in the country over the past few days. Most of the retail shops at Mohammadpur, Shewrapara, Mirpur-6, Mirpur-12, Dhanmondi, Kuril, and Badda ran out of sugar on Saturday. The retail shop owners claim that they have not gotten the sugar supply from ...

Police have seized 15,820 litres of soyabean oil of state-owned Trading Corporation of Bangladesh (TCB) from a Saudi expatriate’s house at Fatikchari in Chittagong. The TCB’s soyabean oil was seized from underneath the beds of the house of Saudi expatriate Mohamamd Nezam at Hamid Para area of Ward No. 4 in Kanchan Nagar union under Fatikchari upazila early Saturday (October ...

Foreign reserve of Bangladesh has declined to $35.90 billion as on Thursday (Oct 20, 2022). Increase in Bangladesh Bank’s dollar sale to address greenback crisis on the market has affected foreign reserve, sources said. High import payments coupled with low remittance and export earnings triggered the dollar crisis. According to a data of central bank, it sold $4.47b to banks ...