Business

Singapore’s economy grew faster than expected in the third quarter, preliminary government estimates showed Friday, as construction and services made up for a continued slump in manufacturing. Gross domestic product expanded 0.7 percent year-on-year in the three months ending September, beating forecasts of around 0.4 percent, and extending the 0.5 percent growth in the previous quarter, the trade ministry said. ...

The Bangladesh Jeweler’s Association (Bajus) has decided to raise the price of gold by Tk 2,333 per bhori following a decrease in the price of pure gold in the local market. The new prices will be effective across the country from Thursday, the jewellers’ association said. Now, gold of 22-carat will cost Tk 99,377 per bhori (11.664 grams), 21-carat gold ...

PepsiCo said on Tuesday it planned “modest” price hikes next year as demand held up despite multiple increases that prompted the snacks and beverages giant to raise its 2023 profit forecast for a third straight time. Shares of the company, which owns brands including Mirinda, and Gatorade, rose nearly 2% in early trading after third-quarter profit beat estimates. PepsiCo kicks ...

The Asian Development Bank (ADB) has offered $338 million in loans to Bangladesh for manufacturing vaccines against various diseases. ADB Country Director Edimon Ginting shared the information in a meeting at a meeting with Planning Minister MA Mannan at the latter’s office in the capital on Wednesday. The minister MA Mannan after the meeting told the reporters that the government ...

Fisheries and Livestock Minister SM Rezaul Karim says hilsa production increased by 92 percent in the last 15 years thanks to the comprehensive steps taken by the government. He said that monitoring activities will be intensified in water, land and air ways so that no one can catch hilsa during the mother hilsa conservation campaign from October 12 to November ...

Equities rallied Tuesday after top Federal Reserve officials suggested the recent spike in US Treasury yields could act as a substitute for further interest rate hikes. The big gains came as oil pared the previous day’s surge, which had been fuelled by supply worries after Hamas launched a deadly weekend attack on Israel. Traders are hoping the crisis does not ...

For the fiscal year 2023–2024, the International Monetary Fund (IMF) has cut its previously expected growth prediction for Bangladesh’s economy from 6.5 percent to 6 percent. A week after the World Bank cut Bangladesh’s GDP growth projection for fiscal 2023–24 to 5.6 percent due to persistently high inflation and issues with external payments, the international lender with headquarters in Washington ...

The Bangladesh Competition Commission (BCC) on Monday fined two companies Tk 8.44 crore on the charge of abnormally hiking the price of broiler chicken. Of the two institutions, the commission fined Kazi Farms Tk 5 crore and Suguna Food and Feeds Tk 3.44 crore in two cases, BCC said at a press release on Monday night. It said the companies ...

The IMF and World Bank gather in Morocco Monday for their first annual meetings on African soil in 50 years, under pressure to reform to better aid poor nations blighted by debt and climate change. The International Monetary Fund and World Bank traditionally hold their annual gathering of finance ministers and central bank governors outside their Washington headquarters every three ...

Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East. The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high owing to Saudi Arabia and Russia’s output cuts. It has ...