Business

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 ...

Dr. Mohammad Afroz Jalil, Country Manager of Roche Bangladesh Ltd. has been elected President of the Switzerland Bangladesh Chamber of Commerce and Industry (SBCCI) for 2022-2024. Swiss Ambassador to Bangladesh, Nathalie Chuard, conveyed best wishes to SBCCI and shared her experience on Bangladesh and potential business opportunities. “This year has been significant for both Switzerland and Bangladesh. We are celebrating ...

The price of sugar has skyrocketed in the market as the supply of the food has drastically decreased in the country over the past few days. Most of the retail shops at Mohammadpur, Shewrapara, Mirpur-6, Mirpur-12, Dhanmondi, Kuril, and Badda ran out of sugar on Saturday. The retail shop owners claim that they have not gotten the sugar supply from ...

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 ...