Business

Soybean oil is still being sold at its previous rate in the kitchen markets despite the price cut announced by Bangladesh Vegetable Oil Refiners and Banaspati Manufacturers Association. Consumers claimed that traders are selling the cooking oil at the previous rate, arguing that new supply of soybean oil has not arrived at the market yet. While visiting different grocery shops ...

The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow’s military escalation in Ukraine, a person briefed on the conversations told Reuters. Such a move, which has not been finalized, would likely boost global prices for the metal used in a wide range of consumer products and could reverse a previous White House ...

Oil-rich Saudi Arabia’s Red Sea Gateway Terminal Company has shown interest to invest in Bangladesh for the operation, maintenance and modernisation of the country’s Patenga container terminal in Chattogram. Vice Chairman of the Red Sea Gateway Terminal Board of Directors, Aamer A. Alireza, made the proposal during a meeting with State Minister of Shipping Khalid Mahmud Chowdhury in Jeddah on ...

Walton has launched four new models of its premium series refrigerators with aesthetic designs and advanced technologies. The features and technologies of the refrigerators include Syntho-Fresh and UV-C technology, intelligent germ terminator (IGT), smart control, ceramic-coated premium glass and elegant door handle, reports UNB. Syntho-Fresh technology is used to keep fruits and vegetables fresh by mimicking the natural lights at ...

India’s retail inflation accelerated to a five month high of 7.30% in September due to surging food prices, staying well above the Reserve Bank of India’s (RBI) upper tolerance band for a ninth month, a Reuters poll found. Fueled by erratic rainfall and supply shocks from Russia’s invasion of Ukraine, prices of daily consumables like cereals and vegetables which form ...

Spot market LNG imports could cost Bangladesh about $11 billion between 2022 and 2024, according to a mini briefing published by Ember, a global energy think tank. Heavy reliance on gas generation, diminishing domestic gas reserves, lack of alternative renewable generation capacity and new coal power becoming increasingly unviable have all led Bangladesh to rely more and more on Liquefied ...

The World Bank has lowered its forecast for Bangladesh’s economic growth for fiscal 2022-23 by a 0.6 percentage point to 6.1 per cent. While economic distress is weighing down all South Asian countries, some are coping better than others, the World Bank said in a new report released on Thursday. Bangladesh is one of them. The World Bank cut its ...

Ministry of Commerce has fixed the price of palm oil at Tk 125 reducing by Tk 8 per litre. Besides, the price of sugar has been increased by Tk 6 per kilogram. The new prices will be effective from Friday. Commerce Secretary Tapan Kanti Ghosh announced the new prices after a meeting with the Bangladesh Vegetable Oil Refiners and Vanaspati ...

The pound has risen to its highest level for two weeks on hopes Kwasi Kwarteng will bring forward details of how he will cut debt. It rose to $1.14, recovering after the chancellor’s plans to fund tax cuts by extra borrowing rattled investors. The pound remained high despite confusion over when he would set out his debt-cutting plan. It is ...

Bangladesh Bank spokesperson Md. Serajul Islam on Tuesday blamed the extreme volatility in the forex market in recent months on the global strength of the dollar against almost all currencies. “Not only in Bangladesh but also in neighboring countries, the price of the US dollar has increased. In many South Asian countries, it is higher than it is in Bangladesh,” ...