Business

Britain’s annual inflation rate rose more than expected in April, driven largely by higher energy and water bills, according to official data released Wednesday. The Consumer Prices Index (CPI) increased to 3.5 percent, up from 2.6 percent in March, the Office for National Statistics (ONS) said. The figure exceeded analysts’ forecasts, which had predicted a rise to 3.3 percent. The ...

Australia’s central bank cut its key interest rate to its lowest in two years on Tuesday, but warned US tariffs continued to shroud the national economy in uncertainty. The Reserve Bank of Australia cut the cash rate by 25 basis points to 3.85 percent, citing steady progress in bringing inflation under control. But “considerable uncertainty” remained, officials warned, pointing to ...

A distributor to the UK’s major supermarkets has said it is being held to ransom by cyber hackers. Logistics firm Peter Green Chilled says it supplies supermarkets including Tesco, Sainsbury’s, and Aldi, but it is not in the top 30 of UK food distributors. It told BBC’s Wake Up to Money clients were “receiving regular updates” including “workarounds” on how ...

Bangladesh’s foreign exchange reserves have stood at $25.44 billion. But, as per the International Monetary Fund (IMF) methodology under the Balance of Payments and International Investment Position Manual (BPM6), Bangladesh’s foreign exchange reserves stood at $20.07 billion, said a Bangladesh Bank press release, reports BSS.

The government is set to launch a management fund to handle recovered money and assets seized from financial offenders, Bangladesh Bank Governor Ahsan H Mansur said today (19 May). The fund will be used to support the country’s poor and underprivileged population, he said at a press briefing at the Foreign Service Academy in Dhaka this afternoon. The announcement came ...

“Don’t expect miracles. But do know – everyone wants this to work.” On Monday in London the EU and UK hold their first bilateral summit since Brexit. Symbolically, this is a big moment. Officials and analysts I speak to, on and off the record, like the individual I just quoted, are quick to point out difficulties that exist between the ...

Commerce Adviser Sk Bashir Uddin today said the trade between Bangladesh and India will continue in the interest of the consumers and the businesses of both countries. “We don’t know anything officially about India’s steps yet. Once we do, we will take appropriate steps. If any issue arises, both sides will work to resolve those through discussions,” he said while ...

Bangladesh must upgrade from the least developed country (LDC) status by 2026 even if it’s challenging, Finance Adviser Salehuddin Ahmed said today (17 May). The adviser made the remark while speaking as the chief guest at the launching event of five new card services by Mercantile Bank in association with Mastercard at the Radisson Blu Water Garden in the capital. ...

The United States lost its last triple-A credit rating from a major agency Friday as Moody’s announced a downgrade, citing rising levels of government debt and dealing a blow to Donald Trump’s narrative of economic strength and prosperity. The downgrade to Aa1 from Aaa adds to the bad news for the US president, coming on the same day his flagship ...

The US dollar price for import Letter of Credit (LC) has remained stable at around Taka 122 despite implementation of market-based exchange rate, reports BSS. On Wednesday, Bangladesh Bank (BB) finally announced a shift to a market-based exchange rate system, allowing market participants to trade dollars at freely negotiated rates to get IMF loan confirmation. To this end, the treasury ...