Business

Stellantis, the automaker behind Fiat, Jeep and Dodge has announced to lay off 1,200 workers and shut a key Jeep Cherokee plant in the US in February, as it focuses on investing more in electric vehicles (EVs). Stellantis said that the plant, which produces the Jeep Cherokee SUV, will cease production as of February 28, reports CNBC. “Our industry has ...

Islamic banks have repaid Tk 5.9 billion on Thursday to Bangladesh Bank after the central bank injected Tk 52.47 billion to the Shariah-based entities in three days under liquidity facility. In the first two days, five lenders – Islami Bank, Union Bank, Social Islami Bank, First Security Islami Bank and Global Islami Bank – borrowed Tk 52.47 billion under liquidity ...

Bangladesh Bank on Wednesday disbursed Tk 4,000 crore as liquidity support to five Islami banks to meet ongoing liquidity crisis, sources in the central bank said. Five Islami banks had earlier applied to the Bangladesh Bank, seeking liquidity support. They are Islami Bank Bangladesh Ltd, Union Bank Ltd, Social Islami Bank Ltd, First Security Islami Bank Ltd and Global Islami ...

President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md. Jashim Uddin has said the private sector is working with the government of Bangladesh to implement environment-friendly industrialization. He made this remark during a roundtable discussion on “Financial and Professional Services – the role of standards and regulations on the road to net zero” at the Commonwealth ...

The EU must address “distortions” created by a $430bn (£349bn) US plan to incentivise climate-friendly technologies, the bloc’s chief says. Some EU members have criticised the US Inflation Reduction Act (IRA), raising fears of a trade war. There are concerns that tax breaks may lure away EU businesses and disadvantage European companies. European Commission President Ursula von der Leyen said ...

The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow’s ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production. The price cap, to be enforced by the G7, the European Union and ...

Price of liquified petroleum gas (LPG) has increased by Tk 3.84 per kg to Tk 108.09, from previous price of Tk 104.26 per kg, as Bangladesh Energy Regulatory Commission (BERC) today announced the latest price of gas for the month of December. As per the new price, a retail consumer will get a 12kg LPG cylinder at Tk 1297, instead ...

Russia on Saturday denounced a $60 price cap on its oil agreed by the EU, G7 and Australia, even as Ukraine suggested it was not tough enough and might have to be revisited. “We will not accept this price cap,” Kremlin spokesman Dmitry Peskov told domestic news agencies, adding that Russia, the world’s second-largest crude exporter, was “analysing” the move. ...

Jewellers have raised the price of gold by Tk 3,033 to Tk 87, 247 per bhori (11.664 grams) due to a hike in the price of the precious metal on the international market. Standing committee on pricing and price monitoring of Bangladesh Jeweller’s Association (BAJUS) made the decision at a meeting held on Saturday. The price of 22-carat gold is ...

IMF chief Kristalina Georgieva warned Thursday that the chance of global growth dropping below two per cent — last seen during the coronavirus outbreak and the global financial crisis of 2009 — is increasing as major economies slow. Her comments come as the world’s biggest economies grapple with the fallout from Russia’s invasion of Ukraine, which sent food and energy ...