Business

Oil giant Saudi Aramco on Sunday reported a drop of 4.6 in its first-quarter net profits as lower sales and higher operating costs hit the lynchpin of the kingdom’s ambitious economic reform plans, Profits fell due to “lower revenue and other income related to sales as well as higher operating costs,” read a statement published by the Saudi stock exchange. ...

The price of gold has been reduced in the domestic market. The price of the highest quality gold of 22-carat has been lowered by Tk 1050per bhori, bringing the new price to Tk 1,70,761. Bangladesh Jewelers Association (Bajus) informed this through a notification which stated that the price of pure gold (acid gold) has decreased in the local market. As ...

Progressive Knit Alliance, a panel led by Mohammad Hatem, won all 35 directorial posts in the biennial election of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) held on Saturday. As the panel leader, Hatem is set to become the president of BKMEA’s new executive committee. Only one panel fielded candidates for all 35 directorial positions, while three other individuals ...

Bangladesh and Japan today decided to take all effective steps to implement the Economic Partnership Agreement (EPA) expeditiously. The discussion was held when Commerce, Textiles and Jute, and Civil Aviation and Tourism adviser SK Bashir Uddin, held a bilateral meeting with Vice Minister of Japan’s Ministry of Economy, Trade and Industry (METI) Ogushi Masaki at the Japan Pavilion of the ...

China said Saturday that consumer prices slumped in April for the third straight month, reflecting persistent challenges as leaders attempt to revive an economy stymied by sluggish spending and a fierce trade war with Washington, reports BSS. The world’s second-largest economy has grappled with persistent deflationary pressure in recent years, as longstanding woes in the property sector and export headwinds ...

A financing agreement was signed on Saturday between the government of Bangladesh and the International Development Association (IDA) of the World Bank Group for an amount of $280.00 million to implement the “Chattogram Water Supply Improvement Project (CWSIP)”. Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division (ERD) and Gayle H. Martin, Country Director (Interim), World Bank signed the agreement on ...

Biman Bangladesh Airlines has rescheduled its flights to Toronto, London and Rome, rerouting its operations to avoid Pakistani airspace due to the ongoing situation between Pakistan and India. The revised schedules will remain effective from May 9 to May 31, 2025, the national flag carrier said in an official announcement on Friday, reports BSS. The changes have been made as ...

Japanese electronics giant Panasonic said Friday it was targeting 10,000 job cuts worldwide as part of efforts to boost productivity among its workforce. The group said it planned to “thoroughly review operational efficiency… mainly in sales and indirect departments, and reevaluate the numbers of organisations and personnel actually needed”, reports AFP. “Through these measures, the company will optimise our personnel ...

US President Donald Trump said Thursday he hoped to meet “fantastic” EU chief Ursula von der Leyen, as a trade deal with Britain boosted hopes for other countries’ tariff negotiations, reports AFP. “She’s so fantastic. I hope we’re gonna meet,” Trump told reporters as he unveiled the US-UK trade agreement, his first deal with any country since he unleashed a ...

The Asian Development Bank (ADB) mobilized a record $8.7 billion in nonsovereign cofinancing in 2024, underlining the growing role of private sector engagement in advancing development across Asia and the Pacific. This milestone contributed to a total cofinancing amount of $14.9 billion for the year, complementing ADB’s own investment of $24.3 billion. The year 2024 saw a broad-based growth across ...