Business

Credit Suisse could slash more than 10 percent of its investment banking staff in Europe, the Financial Times newspaper reported, with the beleaguered Swiss lender declining to comment Monday. Switzerland’s second-biggest bank “already let hundreds of staff go in London and Zurich last month”, the British financial daily reported on Saturday. The Zurich-based bank declined to comment when contacted by ...

Production at Rampal Thermal Power Plant in Bagerhat has been halted due to coal shortage after a month of its first unit started the commercial operation. The production of electricity was halted since Saturday morning, said Bangladesh-India Friendship Power Company Ltd (BIFPCL) deputy general manager Anwarul Azim said. It was learn that production in the power plant halted as the ...

Jewellers have raised the price of gold by Tk 2, 683 to Tk 93,429 per bhori (11.664 grams) due to a hike of ‘pure gold’ in local market. The standing committee on pricing and price monitoring of Bangladesh Jeweller’s Association (BAJUS) made the decision at a meeting held on Saturday. The price of 22-carat gold is now Tk 8,010 per ...

Two tourists carrying ships on Cox’s Bazar-Saint Martin waterways have resumed operations. Two ships– MV Parijat and MV Rajhangsha– left Domdomia Ghat of Teknaf for Saint Martin at about 9:30am on Friday (January 13, 2023) with 610 passengers on board. “We are ready to welcome tourists coming through this route after a long time,” said Jasim Uddin Shuvo, proprietor of ...

The head of one of the world’s biggest oil companies has been named to lead the COP28 global climate talks in Dubai, later this year. Sultan Ahmed Al Jaber is currently the chief executive officer of the Abu Dhabi National Oil Company. He is also the minister for industry and advanced technology for the COP28 hosts, the United Arab Emirates. ...

The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia’s war in Ukraine continues, and the world’s major economic engines sputter. The development lender said it expected global GDP growth of 1.7% in 2023, the slowest pace outside the ...

Three mobile phone operators of the country — Grameenphone, Banglalink and Robi– must have to pay Tk 2,500 crore as part of their debts, said the Appellate Division of the Supreme Court on Tuesday. Three operators will have to pay the amount to the government, National Board of Revenue (NBR) and Bangladesh Telecommunication Regulatory Commission (BTRC). A five-member Appellate Division ...

The state-owned Trading Corporation of Bangladesh (TCB) will start selling essential items across the country from Tuesday at a subsidised rate. Some one crore families across the country having cards would be able to buy such essential items, TCB in a statement said on Monday. It will sell essential commodities among low income in different parts of the country through ...

Detective Branch (DB) of police arrested five persons on charge of spreading rumours about banking sector. They were arrested from different places of the capital on Sunday night, said Dhaka Metropolitan Police (DMP)’s media centre on Monday. The arrested men are Mohammad Nur Un Nabi, Md Afsar Uddin Roman, Md Abu Sayid Saju, Md Shadhin Mia, and Md Abdus Salam. ...

The Dhaka Mass Transit Company Limited (DMTCL) has made a proposal to Bangladesh Energy Regulatory Commission (BERC) seeking electricity supply at low price for metro rail. The DMTCL made the proposal to the power distribution company concerned during a public hearing for power tariff hike held at the Shaheed AKM Shamsul Huque Khan Auditorium of BIAM  in the capital on ...