Business

Russia on Saturday denounced a $60 price cap on its oil agreed by the EU, G7 and Australia, even as Ukraine suggested it was not tough enough and might have to be revisited. “We will not accept this price cap,” Kremlin spokesman Dmitry Peskov told domestic news agencies, adding that Russia, the world’s second-largest crude exporter, was “analysing” the move. ...

Jewellers have raised the price of gold by Tk 3,033 to Tk 87, 247 per bhori (11.664 grams) due to a hike in the price of the precious metal on the international market. 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 ...

IMF chief Kristalina Georgieva warned Thursday that the chance of global growth dropping below two per cent — last seen during the coronavirus outbreak and the global financial crisis of 2009 — is increasing as major economies slow. Her comments come as the world’s biggest economies grapple with the fallout from Russia’s invasion of Ukraine, which sent food and energy ...

Bangladesh’s foreign currency reserves have dwindled to $33.86 billion as the central bank continues to sell dollars to the banks with the demand for the greenback running high. The Bangladesh Bank sold $71 million to the banks on Wednesday, said its spokesman Abul Kalam Azad. The selling of dollars by the central bank in the first five months of this ...

Novoair, one of the country’s private passenger carriers has started direct flights between Jashore, a significant city of Khulna division, to beach city Cox’s Bazar. The flight was inaugurated by Civil Aviation Authority of Bangladesh (CAAB) Chairman Air vice Marshal M Mofidur Rahman at Jashore Airport today while Novoair Managing Director Mofizur Rahman and Jashore airport Manager Reazul Islam Masoud ...

The Bangladesh Bank has allowed Mobile Financial Service Providers (MFSPs) to bring wage earners’ remittances to Bangladesh, reports BSS. “To bring wider flexibility, licensed MFSPs will be allowed to repatriate wage earners’ remittance in association with internationally recognised Online Payment Gateway Service Providers (OPGSPs) or banks or digital wallets or card schemes and/or aggregators abroad [hereinafter referred to as approved ...

The government has shared fiscal data, including for floods and related expenditures, with the IMF, and a team from the agency is expected to visit Islamabad soon, the ministry added. Under the IMF’s Extended Fund Facility (EFF), Pakistan secured a $6 billion bailout in 2019 that was topped up with another $1 billion earlier this year, reports Reuters. “As part of the 9th review under ...

In a first, a hundred companies in the United Kingdom have decided to move to a permanent four-day working week for all employees with no loss of pay. Around 2,600 employees at 100 companies are set to benefit from the new working pattern, India Today reported. The two biggest companies that have signed up are Atom Bank and global marketing ...

Mercedes-Benz is to offer an online subscription service in the US to make its electric cars speed up quicker. For an annual cost of $1,200 (£991) excluding tax, the company will enable some of its vehicles to accelerate from 0-60mph a second faster. It comes after rival manufacturer BMW offered a subscription feature earlier this year – for heated seats. ...

Prime Minister’s Private Industries and Investment Adviser Salman F Rahman on Saturday said the existing dollar crisis in banks will be gone by next month. “Necessary goods can be imported ahead of Ramadan and there will be no crisis during the month of Ramadan,” Rahman said while replying to journalists after placing a wreath and paying tribute at Mujibnagar mausoleum ...