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Global food export bans risk fuelling inflation

It only took 24 hours last month for Prime Minister Narendra Modi’s government in India – the world’s second-largest producer of wheat – to shelve its plans to “feed the world”. In April, Modi had said publicly that the world’s most populous democracy was ready to fill part of the gap left by Ukraine in global grains markets by increasing ...

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Sri Lanka reduces amount of holding foreign currency

The Central Bank of Sri Lanka on Saturday announced that the amount of foreign currency an individual can hold has been reduced from $15,000 to $10,000. The central bank said the decision was taken to attract foreign currency into the formal banking system amid the ongoing economic crisis, reports Xinhua news agency, IANS reported. An amnesty period of 14 working ...

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Toblerone chocolate to lose ‘Switzerland’ tag

Toblerone is to lose the “of Switzerland” label from the front of its packaging after a decision to open a production site for the chocolate in Slovakia. The brand was established in 1908 in the Tobler family factory in Bern. The triangular chocolate — with a shape reminiscent of Swiss Alpine peaks — has been produced in the Swiss capital ...

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Edible oil price falls 26% in global market, no move to lower it in Bangladesh

The price of crude soybean oil decreased by 26 per cent in the global market but initiative to lower the local price is not in sight yet. Bangladesh imports large quantities of soybean oil from Argentina, a South American country. The price of crude soybean oil imported from the country has decreased in the last one month. The Bangladesh Trade ...

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Bangladesh receives record $8.41 bn foreign loans in 11 months

Bangladesh received a record USD $8.41 billion in foreign loans in 11 months of current FY2021-22, the Economic Relations Division said on Thursday. At current exchange rate the amount is equivalent to Tk78221 crore, the highest loan ever in a single fiscal year. The amount is 47 per cent higher than the previous fiscal year. The ERD officials estimate that ...

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UK inflation hits fresh 40-year high

British annual inflation has hit a fresh 40-year high, official data showed Wednesday, further eroding workers’ wages and pressuring the Bank of England to keep on raising interest rates. The rate edged higher to 9.1 percent in May from 9.0 percent in April, remaining at the highest level since 1982, the Office for National Statistics (ONS) said in a statement. ...

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Railway to start selling advance tickets from Jul 1

Advance train ticket sale ahead of Eid-ul-Azha will begin from July 1, said Railway Minister Nurul Islam Sujan on Wednesday. Besides, the selling of return tickets will begin from July 7, the minister came up with the information at a press briefing at Rail Bhaban on Wednesday. Six pairs of special trains will operate ahead of the Eid. Depending on ...

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TCB starts selling products to family cardholders

Trading Corporation of Bangladesh (TCB) on Wednesday started selling sugar, lentil and soybean oil at subsidised prices to one crore low-income families for Eid-ul-Azha. Only family cardholders can buy products from fixed points or shops, not from truck. The products will be sold till July 5. TCB cardholders will be able to buy one kilogram of sugar at Tk 55, ...

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Oil wobbly after near 6% slump

Oil prices wobbled early on Monday as investors refocused on tight supplies, though sentiment was still fragile after 6% slump in the previous session amid concerns about slowing global economic growth and fuel demand. Brent crude futures gained 20 cents, or 0.2%, to $113.32 a barrel by 0105 GMT, after rising as much as 1% earlier. Front-month prices tumbled 7.3% ...

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Traders fear huge losses for keeping shops closed after 8pm everyday

In the wake of the government’s decision to keep the shops, markets, shopping malls and kitchen markets closed everyday after 8:00pm across the country, traders have become very worried. They feel that their survival will be very difficult if they are forced to keep their businesses closed after 8:00pm every day. They also called upon the government to postpone the ...

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