Business

Country’s money changers will not be able to make profit beyond Tk 1.50 against each US dollar, said Bangladesh Bank on Wednesday. The decision was taken at a meeting between Bangladesh Bank and Money Changers Association, said BB spokesman and executive director Md Serajul Islam. Deputy Governor Ahmed Jamal represented the central bank at the meeting. Earlier, a decision was ...

British inflation surged to a new 40-year high in July on rising food prices, official data showed Wednesday, adding to a cost-of-living crisis as the country faces the prospect of recession. The Consumer Prices Index (CPI) accelerated to 10.1 percent last month from 9.4 percent in June — a 40-year record at the time — the Office of National Statistics ...

Oil prices rose on Wednesday, recovering from six-month lows hit the previous day, as a larger-than-expected drop in US oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by the prospect of a global recession. Brent crude futures rose 13 cents, or 0.1%, to $92.47 a barrel by 0035 GMT. West Texas Intermediate (WTI) crude futures climbed ...

The High Court on Tuesday issued a rule asking the government to explain as to why raising fuel price through a gazette notification instead of holding a public hearing should not be declared illegal. The HC bench of Justice Md Mojibur Rahman Mia and Justice Kazi Md Ejarul Haque Akondo issued the rule after hearing a writ petition challenging the ...

Oil prices extended losses Tuesday after weak US and Chinese data reinforced recession expectations, though equities won support from hopes the figures will allow central banks to temper their pace of interest rate hikes. Stock traders tracked a Wall Street advance led by tech firms thanks to an increase in bets that the Federal Reserve will not lift borrowing costs ...

Oil prices slumped more than five percent Monday on the rising prospects of a return of Iranian oil to the market and data showing China’s economic recovery stuttering under Covid-19 restrictions and a slumping property sector. Stock markets drifted lower and the dollar traded mixed as investors welcomed signs of cooling US inflation, which nevertheless remains at the highest level ...

Pathao, a popular bike ride service, has raised its fares as much as 18 percent following a hike in fuel prices. Obhai, another ride hailing service, has not raised the fares on its CNG-powered autorickshaws, but has increased the fares for car rides ‘slightly’. Pathao operates in the city areas of Dhaka, Chattogram and Sylhet, while Obhai only provides service ...

The government will start open market sale (OMS) of rice at Tk 15 per kg from September 1 for 4 crore people of 50 lakh families across the country, said Food Minister Sadhan Chandra Majumder on Sunday. “This programme will run simultaneously in district towns, municipalities and city areas under the Food Friendly Program of the government,” he said while ...

Bangladesh Jewellers’ Association (BAJUS) on Saturday said that around Tk73000 crore is being laundered from Bangladesh every year through gold smuggling. They have sought the government’s tough action and cooperation of intelligence agencies and law enforcers to stop gold smuggling through Bangladesh, reports UNB. BAJUS leaders said this at a press conference held at the association’s office in Bashundhara city ...

Britain’s economy shrank in the second quarter, official data showed Friday, as the country heads towards recession under a new prime minister. UK gross domestic product dropped 0.1 percent in the April-June period after a rise of 0.8 percent in the first quarter, the Office for National Statistics said in a statement. The Bank of England (BoE) expects the economy ...