Business

OPEC member-states (except Iran, Libya and Venezuela) participating in the OPEC+ deal reduced oil production in July by 912,000 barrels daily to 22.6 mln barrels per day, largely on account of the voluntary production cuts by Saudi Arabia, according to the OPEC report released in August, TASS reported. Ten OPEC countries were to reduce oil production by 1.273 mln barrels ...

US-Bangla Airlines is set to increase the number of its flights to Chinese province of Guanzhou and Thailand’s Bangkok from September 1. US-Bangla Airlines is going to operate five flights a week on the Dhaka-Guangzhou route from 1 September as per the plan, after the post-Covid passenger demand and various restrictions of Covid were lifted, according to a press release. ...

South Korean company Giant BD Footwear Ltd is going to invest $ 9.39 million to set up a shoe and shoe accessories manufacturing industry in BEPZA Economic Zone (BEPZA EZ). Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this effect at BEPZA Complex, Dhaka on Thursday, an official release said. Ali Reza Mazid, Member (Investment ...

A significant achievement has been gained in the journey towards sustainable industrialisation, as the nation celebrates the certification of its 200th LEED Green Factory by the US Green Building Council (USGBC). This remarkable milestone underscores Bangladesh’s steadfast commitment to environmental stewardship, economic growth, and global competitiveness. LEED (Leadership in Energy and Environmental Design) certification is internationally recognised as a symbol ...

As traders are not fully prepared yet to market 100 percent of packaged soybean oil, the government will allow sale of loose soybean oil for six more months. However, the sale of loose soybean oil in the market will be completely prohibited after the next six months, said Director General of the National Consumer Rights Protection Directorate (NCRPD) AHM Shafiquzzaman. ...

Bangladesh in the current season has exported 2,700 tons of mangoes to 34 countries so far this year. According to the Ministry of Agriculture, the mango export rose by 1000 tons this year compared to the previous year. A total of 1,757 tons of mangoes were exported to 28 countries last year. According to the ministry, although there is a ...

Around 24,000 staff at British Airways will get a pay rise worth more than 13% over 18 months from September, the Unite union has said. Workers will also get a one-off payment of £1,000, but pilots and management are excluded from the deal, it said. The deal, after months of negotiations, eases the threat of disruption as demand for air ...

Global Business Conference-2023 will be held in Dubai from December 22 to 24. The theme of this year’s conference is “Think Bangladesh: Discover Higher Industry and Economic Development”. Business America, a US based magazine, is going to organize the conference this year in UAE, said a press release. This business conference brings an important opportunity for the enterprising industrialists of ...

The Argentine government said Friday it will use a loan from Qatar amounting to $775 million to make a payment to the International Monetary Fund as it awaits approval of a disbursement from the IMF for $7.5 billion. The credit operation would allow Qatar to lend Argentina Special Drawing Rights (SDRs, or money that countries reserve in the IMF) for ...

Newly elected FBCCI President Mahbubul Alam voiced his commitment to cultivate a smart business community that aligns with the country’s economic progression. “We are aware of the imported inflationary pressure stemming from the Russia-Ukraine war. Yet, Bangladesh has braved these challenges. Our goal is to attain smart economy. For this, we require a smart business community,” Alam told the Daily ...