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World stocks extend rout, oil prices drop on recession worries

A rout in global equities extended on Friday and government bond markets came under fresh selling pressure as hawkish tone from central bankers and weak data stoked recession fears. The selling spilled over into commodities markets, where oil prices dropped over $2 per barrel. Gold prices faced their biggest weekly loss in four weeks after the Federal Reserve indicated it ...

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Soybean oil price declines by Tk 5 a litre

The price of soybean oil has decreased in the retail market of the country. This information was learnt from an emergency instruction of the Ministry of Commerce on Thursday. The revised price will be effective from December 18. According to the latest prices of soybean oil, the government has decided to decrease Tk 5 for one litre, Tk 19 for ...

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Is UK inflation going to keep falling?

The dip in the overall rate of inflation in the year to November should be the start of a few months of falls. October’s four-decade high now looks to have been the peak. But inflation will remain very high for months to come. Even talk of a moderation in the rate of price rises seems out of kilter with everyday ...

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Govt aims to increase money supply over course of next two FYs

The government has fixed a target to increase the money supply to 16.5 per cent from the existing 15.6 per cent in the next two fiscals, reports UNB. As per a government document, in the 2022-23 fiscal the rate of money supply is at 15.6 per cent. For the next 2023-24 fiscal the government has projected to increase the rate ...

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UK to strengthen trade, investment ties with Bangladesh: Indo-Pacific Minister

British Minister for Indo-Pacific Anne-Marie Trevelyan has said the UK looks forward to continuing to strengthen their bilateral ties with Bangladesh through trade, investment, and people-to-people links. The British Minister said this during a bilateral meeting with Private Industry and Investment Adviser to Prime Minister Salman F Rahman in London on Monday, reports UNB. Praising Prime Minister Sheikh Hasina’s generous ...

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Parliamentary committee for reasons behind rice price hike

The Parliamentary Standing Committee asked Agriculture Ministry to find out reason behind excess price of rice despite bumper production. Presided over by Matia Chowdhury, the committee made the query at a meeting held at Parliament Complex on Monday. In line with Prime Minister Sheikh Hasina’s guidelines, the ministry has recommended to bring all uncultivated lands under cultivation channel and increase ...

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Nagad offers 16% cashback on payment on Daraz

Mobile financial services (MFS) Nagad provider has teamed up with e-commerce platform Daraz to offer cashback of 16 percent instant cashback on bill payment through the online marketplace’s app. On the occasion of the Daraz 12.12 Sale Campaign, Customers can get cashback of up to Tk300 – maximum Tk100 for each transaction – on bill payments through Nagad using Daraz ...

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Stellantis to shut Jeep plant in US, lay off 1,200 in EV era

Stellantis, the automaker behind Fiat, Jeep and Dodge has announced to lay off 1,200 workers and shut a key Jeep Cherokee plant in the US in February, as it focuses on investing more in electric vehicles (EVs). Stellantis said that the plant, which produces the Jeep Cherokee SUV, will cease production as of February 28, reports CNBC. “Our industry has ...

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Islamic banks return Tk 5.9 billion to BB

Islamic banks have repaid Tk 5.9 billion on Thursday to Bangladesh Bank after the central bank injected Tk 52.47 billion to the Shariah-based entities in three days under liquidity facility. In the first two days, five lenders – Islami Bank, Union Bank, Social Islami Bank, First Security Islami Bank and Global Islami Bank – borrowed Tk 52.47 billion under liquidity ...

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BB disburses Tk 4,000cr as liquidity support to 5 Islami banks

Bangladesh Bank on Wednesday disbursed Tk 4,000 crore as liquidity support to five Islami banks to meet ongoing liquidity crisis, sources in the central bank said. Five Islami banks had earlier applied to the Bangladesh Bank, seeking liquidity support. They are Islami Bank Bangladesh Ltd, Union Bank Ltd, Social Islami Bank Ltd, First Security Islami Bank Ltd and Global Islami ...

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