Home / Business (page 4)

Business

Suez Canal records record monthly revenue in April

Egypt’s Suez Canal Authority announced Sunday an all-time revenue record for April, earning $629 million following a series of toll hikes for vessels transiting the vital waterway. Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 percent of global maritime trade and is one of Egypt’s main sources of foreign currency revenues. Despite Russia’s invasion of ...

Read More »

Farmers start harvesting Boro paddy with jubilation in Rajshahi

Farmers have started harvesting Boro paddy at present with festivity by dint of satisfactory yield in the region including its vast Barind tract. Now, most of the farming fields have taken an eye-catching look as early varieties of paddy are now in ripening stages. The mind-blowing yield has created a high hope of supplementing the government efforts of ensuring food ...

Read More »

India seizes $725m assets of Xiaomi over illegal remittances

India’s anti-money laundering agency said on Saturday it seized assets worth about $725 million of Xiaomi India for breaching the country’s foreign exchange laws in a major blow to the Chinese phone maker that commands the Indian smartphone market. The Indian Enforcement Directorate said it had seized bank accounts of Xiaomi India after finding that the company had remitted $725 ...

Read More »

Footpath vendors doing brisk business ahead of Eid

As Eid-ul-Fitr is knocking on the doors, many poor and low-income people look to be on shopping sprees like the well-off classes, as everyone gets ready to celebrate the biggest religious festival with their near and dear ones. Shoppers on low-budget are swarming the makeshift shops on footpaths and open spaces for buying dresses of their choices and other desired ...

Read More »

Musk sells $4B in Tesla shares, presumably for Twitter deal

Elon Musk has sold 4.4 million shares of Tesla stock worth roughly $4 billion, most likely to help fund his purchase of Twitter. Musk reported the sale in a filing with the Securities and Exchange Commission on Thursday. The shares were sold over the past few days, at prices ranging from $872.02 to $999.13. The world’s richest man, who is ...

Read More »

Meta shares surge

Facebook rebounded from a drop in users early this year and its parent Meta posted a profit ahead of Wall Street targets, defying low investor expectations with a quarterly report that sent shares up 20%. Meta CEO Mark Zuckerberg also said that the company would scale back costs and was investing in artificial intelligence tools to improve recommendations and ads, ...

Read More »

Australian inflation hits 20-year high

Australia’s annual inflation rate hit 5.1 per cent in the March quarter, the highest recorded since 2001, according to official data released Wednesday. “The CPI recorded its largest quarterly and annual rises since the introduction of the goods and services tax,” said Michelle Marquardt of the Australian Bureau of Statistics. The jump in the consumer price index — powered by ...

Read More »

HSBC first-quarter pre-tax profits drop nearly 30pc to US$4.2 bn

HSBC said on Tuesday that first-quarter pre-tax profits dropped 28 percent to $4.2 billion, but while the lending giant cited higher-than-expected credit losses and inflation as potential future headwinds, it remained upbeat about the outlook. “While profits were down on last year’s first quarter due to market impacts on wealth revenue and a more normalised level of ECL (expected credit ...

Read More »

Soybean oil price jump on impact of Indonesia palm oil export ban

The edible oil price has increased sharply in the domestic market in the last two days after Indonesia, the world’s top palm oil producer, announced an export ban. Indonesia announced on Friday a ban on palm oil exports from April 28  in a bid to stymie the soaring domestic price of cooking oil. However, analysts expect the ban to be ...

Read More »

Bangladesh expatriates send record remittance ahead of Eid

Bangladesh expatriates have sent record amount of remittance marking the Eid-ul-Fitr. Bangladeshis living abroad sent more than Tk 12,000 crore in 21 days to bear the extra expenses of their family members on the occasion of Eid. Expert concerned hope that the amount will exceed Tk 17,000 crore before the Eid. As per the information received from Bangladesh Bank, the ...

Read More »