Business

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. ...

Hazrat Shahjalal International Airport was given a new look with the addition of a wide body aircraft 436-seat Airbus 330-300 to the fleet of US-Bangla Airlines on Friday. The Airbus landed at Hazrat Shahjalal International Airport on Friday, February 9 at 3:10pm from Guangzhou, China. The Airbus was greeted by a water cannon salute. US-Bangla Airlines Chief Executive Officer Captain ...

Canada’s largest communications conglomerate BCE Inc. announced Thursday it plans to cut 4,800 jobs, or nine percent of its workforce, and sell off 45 radio stations across the country, reports AFP. Bell Canada Enterprises Inc., the parent of Bell Media, said in financial filings that “traditional radio faces accelerated substitution from new music players and alternative streaming services.” The sale ...

The National Board of Revenue (NBR) has issued a notification reducing import duty on rice, edible oil, sugar and dates ahead of holy month of Ramadan. NBR Chairman Abu Hena Md Rahmatul Muneem signed four separate orders in this regard on Thursday. At the cabinet meeting held at the Prime Minister’s office on January 29, Prime Minister Sheikh Hasina ordered ...

A three-day jewellery exhibition titled ‘Bajus Fair-2024’ will begin at International Convention City Bashundhara (ICCB) in the capital on Thursday. The mega event is being held for the third time in the country. With the theme ‘Investment in gold, savings for the future’, some 41 companies will showcase the strength of the local jewellery industry in the fair. Officials of ...

Biman Bangladesh Airlines is offering 15 per cent special discount on air tickets of all international routes on the occasion of ‘Biman Dhaka Travel Mart 2024’ that begins at Pan Pacific Sonargaon Hotel’s grand ball room at Kawran Bazar in the capital on Thursday (February 8). The three-day fair will end on Saturday (February 10). Biman will take part in ...

Singapore’s biggest bank DBS has slashed its CEO’s bonus by 30% after disruptions to its digital services, despite it posting a record profit. The company said the cut to Piyush Gupta’s variable pay amounts to S$4.14m ($3.1m; £2.4m) and that his full salary for 2023 will be disclosed in March. In 2022 Mr Gupta was paid S$15.4m. After several glitches ...

WeWork’s former boss, Adam Neumann, wants to buy back the bankrupt shared office company, according to a letter made public on Tuesday. He approached the firm in December about a potential deal, the message from his lawyer to WeWork said. It accused WeWork of resisting the idea, despite its bleak financial situation. WeWork said it received offers on a “regular ...