Business

Bangladesh’s gross domestic product (GDP) grew by 6.07 percent in the first quarter (July-September) of the current fiscal year 2023-24. The Bangladesh Bureau of Statistics (BBS), the national statistical agency, published the GDP data on Thursday for the first time in line with the conditions of the International Monetary Fund (IMF). The first quarter’s expansion was a decline of 2.69 ...

A month long 31st Chattogram International Trade Fair (CITF) begins on Thursday on the Railway Polo Grounds in Tigerpass of the city. State Minister for Commerce Ahsanul Islam Titu inaugurated the fair as the chief guest. Education Minister Barrister Mohibul Hasan Chowdhury Nawfel attend the inauguration ceremony via digital platform. MA Latif MP, Member of Parliamentary Standing Committee on Shipping ...

The Bangladesh Bank (BB) has introduced US dollars and currency (taka) swap between the central bank and commercial banks for a minimum of seven days to a maximum of 90 days, reports UNB. The Foreign Exchange Policy Department (FEPD) of the central bank issued this notification on Thursday. The BB said the new system will be considered effective immediately. The ...

Shop workers feel like “targets” the BBC has heard, as reports of violence and abuse have soared. Shop assistant John from Dundee said: “It’s almost a daily occurrence now where you are shouted at or sworn at”. Violence and abuse against shop workers rose to 1,300 incidents a day last year, according to a trade body. The British Retail Consortium ...

Multi-billionaire Jeff Bezos has sold more of his shares in Amazon, bringing the total value of sales in recent days to more than $4bn (£3.2bn). The technology giant, which Mr Bezos founded in 1994, said he has sold 24 million Amazon shares this month. Mr Bezos, who is the firm’s executive chair, last sold Amazon shares in 2021. Earlier this ...

Japan’s Sony upgraded its annual net profit forecast on Wednesday, now predicting 920 billion yen ($6.1 billion) instead of the previous target of 880 billion yen. One reason for the more ambitious outlook is financial services revenue, including net gains on investment at Sony’s life insurance business, the conglomerate said.  

Bitcoin spiked above $50,000 Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand. The cryptocurrency has enjoyed a strong run in recent months, fuelled by expectations US lawmakers would allow the creation of exchange-traded funds (ETFs) that track the price and let ...

The International Monetary Fund said on Sunday Middle East economies were lagging below growth projections due to oil production cuts and the Israel-Gaza conflict, even as the global economic outlook remained resilient. Despite uncertainties, “the global economy has been surprisingly resilient,” IMF managing director Kristalina Georgieva told the Arab Fiscal Forum in Dubai, while warning of a potential wider impact ...

Bangladesh Bank (BB) has issued new guidelines tightening the rules of appointing bank directors to ensure good governance in the banking sector. The step has been taken in line with the Bank Company (Amendment) Act, 2023, a BB circular said on Sunday. As per the guidelines, the minimum age of a director will be 30, there was no such limit ...

Barclays has announced it will no longer provide direct funding for new oil and gas projects. The banking giant also says it will restrict lending to energy businesses that plan to expand their fossil fuel production. Barclays is a major lender to the fossil fuel industry, but has been coming under mounting pressure to curb its support for the sector. ...