Business

Airlines will fly 4.35 billion passengers this year, close to the 2019 record as the industry bounces back from the Covid pandemic, an industry group said on Monday, AFP reports. The sector will also be back in the green, with net profits forecast to reach $9.8 billion in 2023, or double previous estimates, boosted by the end of China’s Covid ...

The major oil-producing countries led by Saudi Arabia and Russia are wrestling with whether to make another cut in supply to the global economy as the OPEC+ alliance struggles to prop up sagging oil prices that have been a boon to U.S. drivers and helped ease inflation worldwide, AP reports. The 23-member group is meeting Sunday at OPEC headquarters in ...

The US and Taiwan signed a new trade deal on Thursday as tensions with China rise. It is the first agreement under a framework for talks between Washington and Taipei called the US-Taiwan Initiative on 21st Century Trade. The announcement comes ahead of a high-level global security summit in Singapore this weekend. In recent years, the relationship between the US ...

Utimaco, one of the leading Hardware Security Module (HSM) OEM from Germany, and Genex Infosys Limited, one of the leading IT solutions providersin the country, organised a collaborative event at a hotel in the capital on May 29. The event, titled “Creating Trust in the Digital Banking World,” was an interactive session by the experts from Utimaco and Genex Infosys ...

Cash-strapped Sri Lanka’s economy showed “tentative signs of improvement” but recovery remains challenging and Colombo must pursue painful reforms, the IMF said Friday. The International Monetary Fund’s Deputy Managing Director Kenji Okamura said the country was emerging from its unprecedented crisis thanks to reforms including the doubling of taxes, spending cuts and the scrapping of subsidies. A currency crisis since ...

Bangladesh has signed a new deal with Qatar to get an additional 1.5 million tons per annum (MTPA) of liquefied natural gas (LNG) for the next 15 years from 2026. Bangladesh’s state-owned Petrobangla signed the new agreement with Qatar’s state-owned Ras Laffan Liquefied Natural Gas Company Ltd., (Qatargas) at a function at Qatari capital Doha on Thursday, UNB reports. State ...

Price of Liquefied Petroleum Gas (LPG) has slashed by Tk 13.42 per kg to Tk 89.48 from the previous price of Tk 102.9 for the month of June. Bangladesh Energy Regulatory Commission (BERC) announced the new price, saying that a 12kg LPG cylinder’s price has reduced by Tk 161. A retail consumer will get it now at Tk 1,074 instead ...

When it comes to commodities, the energy space is outperforming the whole sector. Coal India has hiked the prices of its high-grade coal by 8 per cent, and thus consumers are likely to pay 12 to 18 paisa per unit. Coal India increased high-grade coal prices after five years and mostly it has been done in two categories, one is ...

The oil-rich Qatar is expected to ink a long-term, deal with Bangladesh on Thursday to supply liquefied natural gas (LNG) as the country desperately looks for the petroleum product at cheaper rate as the Ukraine crisis spiked its prices for the past one year, officials said on Wednesday. Prime Minister’s energy affairs adviser Tawfiq-e-Elahi Chowdhury told the news agency that ...

Bangladesh Textile Mills Association (BTMA) on Tuesday urged the woven and knit garment makers to open back-to-back letters of credit (LCs) and buy yarn from the local market to reduce stockpiling of unsold yarn and save US dollar. The textile millers also demanded the government for increasing the allocation from the Export Development Fund (EDF) to US$30 million from $20 ...