Business

The pound has risen to its highest level for two weeks on hopes Kwasi Kwarteng will bring forward details of how he will cut debt. It rose to $1.14, recovering after the chancellor’s plans to fund tax cuts by extra borrowing rattled investors. The pound remained high despite confusion over when he would set out his debt-cutting plan. It is ...

Bangladesh Bank spokesperson Md. Serajul Islam on Tuesday blamed the extreme volatility in the forex market in recent months on the global strength of the dollar against almost all currencies. “Not only in Bangladesh but also in neighboring countries, the price of the US dollar has increased. In many South Asian countries, it is higher than it is in Bangladesh,” ...

The bottled soybean oil price has been dropped by Tk 14 a litre to Taka 178 per litre from the existing Taka 192 per litre. The new price will come in effect from tomorrow (Tuesday). Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association announced the decision in a press release on Monday. It said that the new retail price of ...

Robi Axiata has appointed Rajeev Sethi as the company’s chief executive officer. Sethi joins Robi following his role at Myanmar’s leading mobile operator, Ooredoo, as its CEO. Prior to that, he served as the chief commercial officer at Airtel for Africa. He will be replacing M Riyaaz Rasheed, who has been serving as Robi’s acting chief executive officer since August ...

Bangladesh Energy Regulatory Commission (BERC) has adjusted downward the price of liquefied petroleum gas (LPG) by Tk 35 per 12kg cylinder to Tk 1,200 from the existing rate of Tk 1,235 as sold by the private companies. The new price rate will come into effect from 6pm today, BERC Chairman Abdul Jalil announced at a virtual press conference. The price ...

Passengers have voiced concern over buses charging them extra fares despite the introduction of e-ticketing, a method to prevent misconduct and discipline runaway public transport. Buses are supposed to pick up passengers only from pre-assigned stations, but the drivers and their assistants breach the rules by stopping anywhere they find travellers. On top of that, the buses ask each passenger ...

Prime Minister Narendra Modi on Saturday launched 5G mobile internet services in India, a major milestone in the country’s telecom history that aims to make downloads faster and eliminate the menace of call drops. However, the 5G services will be rolled out in 13 select Indian cities like Delhi, Mumbai, Kolkata and Hyderabad later this month. The services will be ...

A flight of Biman Bangladesh Airlines got stuck as a bird entered its engine, delaying take-off by nine hours, causing suffering of passengers. The plane left Dhaka Hazrat Shahjalal International Airport for Saudi Arabia with 375 passengers at 10:45am on Friday. Biman authorities said, the flight delayed to fly as the bird was spotted in the engine. The authorities claimed ...

The Hili Land Port in Dinajpur district will halt all export-import activities for eight days on the occasion of the largest Hindu festival – Durga Puja. However, passengers with passports will be able to pass through the Hili immigration check post normally. Jamil Hossain Chalanta, general secretary of Bangla Hilli Customs C&F Agent Association, said the businessmen of the country ...

Bangladesh Bank has increased the policy interest rate (repo rate) by 25 basis points to 5.75 per cent from 5.5 per cent to curb inflation. The central bank took the decision at the 56th meeting of the Monetary Policy Committee (MPC) held on Thursday. In view of the increase in inflation in the world market, Bangladesh is also witnessing rising ...