Business

Saudi Arabia and the United Arab Emirates defended on Monday a decision by OPEC and its allies to cut oil production, even as an American envoy warned of “economic uncertainty” ahead for the world. While cordial, the comments at the Abu Dhabi International Petroleum Exhibition & Conference showed the stark divide between the United States and Gulf Arab countries it ...

The three day US Trade Show concluded on Saturday, drawing crowd of a huge number of visitors. The three ay show,  organized jointly by US Embassy in Bangladesh and the American Chamber of Commerce in Bangladesh (AMCHAM), began on Thursday at the Pan Pacific Sonargaon Hotel in Dhaka, Different familiar brands of US were displayed at more than 70 stalls ...

Aminul Islam, an employee of a private company, was locked in a heated argument over vegetable prices with a trader at Mirpur-6 kitchen market in the capital. When approached, he said price of every essential has skyrocketed and businessmen are responsible for this situation. “It has become difficult for consumers to buy vegetables due to high prices. The price of ...

India’s Tata group is set to begin making military aircraft in the country in the first such project by a local private company. Tata and Airbus will make C-295 transport aircraft for the Indian Air Force, the government announced on Thursday. The project, valued at 219bn rupees ($2bn; £1.7bn), will be based in the western state of Gujarat. PM Narendra ...

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 ...