Business

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 ...

Global smartphone sales have slumped this year amid a “gloomy economic outlook,” prompting people to spend money on essentials instead of the latest gadgets, according to a market tracker. Smartphone sales in the recently ended quarter were nine percent less than in the same period a year earlier, hitting a low not seen since 2014, according to research firm Canalys. ...

Bangladesh Petroleum Corporation (BPC) will import 54.60 lakh tonnes of fuel oil next year from the international market to meet the country’s needs amid the ongoing Russia-Ukraine war and geopolitical tension. A proposal for next year’s fuel imports, comprising 16 lakh tonnes of crude oil and 38.6 lakh tonnes of refined oil, was placed at a meeting of the Cabinet ...

Posts and Telecommunications Minister Mustafa Jabbar on Tuesday directed telecom operator Grameenphone to ensure quality mobile service in order to reduce customer suffering. “As the quality of service increases, the call drop subsidy will decrease,” he said in a meeting with the Grameenphone delegation led by Executive Vice President and Head of Telenor Asia Jorgen C Arentz Rostrup at the ...

Bangladesh has strengthened its position as the global leader in green apparel factories, as the country now has 176 such factories with USGBC’s LEED certification. Three more Bangladeshi garment factories have achieved green building certification from the United States Green Building Council (USGBC) in the platinum category. The factories are CA Knitwear in the Bhobanipur area of Gazipur, Silken Sewing ...

Sony and Honda have formally inaugurated a joint venture to produce electric vehicles, report agencies. The entity, known as Sony Honda Mobility, will produce its first vehicle in the United States, with exports across the globe – including Japan, opening the door to Australia. It will be headquartered in Tokyo, Japan. The electric vehicles will commence production in early 2026, ...

Soybean oil is still being sold at its previous rate in the kitchen markets despite the price cut announced by Bangladesh Vegetable Oil Refiners and Banaspati Manufacturers Association. Consumers claimed that traders are selling the cooking oil at the previous rate, arguing that new supply of soybean oil has not arrived at the market yet. While visiting different grocery shops ...

The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow’s military escalation in Ukraine, a person briefed on the conversations told Reuters. Such a move, which has not been finalized, would likely boost global prices for the metal used in a wide range of consumer products and could reverse a previous White House ...

Oil-rich Saudi Arabia’s Red Sea Gateway Terminal Company has shown interest to invest in Bangladesh for the operation, maintenance and modernisation of the country’s Patenga container terminal in Chattogram. Vice Chairman of the Red Sea Gateway Terminal Board of Directors, Aamer A. Alireza, made the proposal during a meeting with State Minister of Shipping Khalid Mahmud Chowdhury in Jeddah on ...