Business

British mobile phone giant Vodafone on Tuesday said it planned to axe 11,000 jobs over the next three years as new chief executive Margherita Della Valle seeks a “simpler” organisation. “Our performance has not been good enough,” Della Valle said alongside news of flat annual revenue at the group. At 11,000 positions, Vodafone is seen axing more than 10 percent ...

Chinese company Jibin Technology (BD) Co. Limited is going to set up a factory manufacturing shoe accessories in the BEPZA Economic Zone (EZ) in Mirsharai, with an investment of $6 million. Jibin Technology (BD) signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to this effect at the latter’s premises in the capital on Monday. Ali Reza Mazid, ...

Indian private carrier Vistara has celebrated the anniversary of its flight operation in Bangladesh by hosting a reception at a city hotel here last night. State Minister of civil aviation and tourism M Mahbub Ali attended the event as the chief guest while civil aviation and tourism secretary Mokammel Hossain and Civil Aviation Authority of Bangladesh (CAAB) chairman Air Marshal ...

Australian mining company Newcrest said Monday it had agreed to a takeover by US rival Newmont, creating a world-leading gold producer in a deal worth Aus$28.8 billion (US$19 billion). By swallowing up Newcrest, the US mining giant will cement its position as the world’s biggest gold producer, with operations extending across North and South America, Africa, Australia and Papua New ...

Restrictions were imposed on import of onion from India earlier taking the interest of farmers into consideration. However, the onion prices in the country’s markets are being monitored. The onion prices in the market are now skyrocketing. So, the government is likely to allow import of onion within the next several days, said Agriculture Minister Wahida Akter. She disclosed it ...

Group of Seven (G7) finance chiefs on Saturday warned of heightened uncertainty and vowed to take actions to ensure financial stability amid concerns following US bank failures. In a joint statement issued after their meeting in the Japanese city of Niigata, the G7 finance ministers and central bank governors said they “need to remain vigilant and stay agile and flexible ...

Russia became the largest oil supplier to China and India in March 2023 as in the previous month, the Organization of Petroleum Exporting Countries (OPEC) said in its May report on Thursday. Russia ensured 18% of China’s total oil imports in March, according to OPEC. Saudi Arabia accounted for 17% of supplies, whereas Iraq accounted for almost 12% of China’s ...

Prices of essential commodities continue to rise at kitchen markets across the country, putting people, especially the low and lower-middle income group, into a tight corner. Consumers alleged that some traders are increasing the prices of essentials for lack of market monitoring by the authorities concerned. They also demanded that the government take steps to arrest the spiralling prices to ...

The biennial election of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will be held on July 31. The apex trade body of Bangladesh has announced its election schedule for the term 2023-2025 to its members on Thursday, said a press release on Thursday. As per the election schedule, the election will be held on from 9 am ...

Commerce Minister Tipu Munshi on Thursday said that the market monitoring team will start raids to ensure that sugar is being sold at prices fixed by Bangladesh Trade and Tariff Commission (BTTC). The minister also said they would consider importing onions if its price continues to rise. The commerce minister made the statement in response to reporters’ questions after a ...