Business

Saudi Arabia, the world’s biggest oil exporter, raised oil prices for its largest market in Asia more than expected as major economies in the region eased coronavirus restrictions, helping boost demand, Bloomberg reported. The increase for July shipments resumes a series of increases that began in February and were only broken when state producer Saudi Aramco cut prices from record ...

The price of sugar has increased in Mymensingh in recent week. It is being sold at Tk 83-84 per kilogram. On the same time, price of Indian garlic has increased. Apart from this, potatoes and lentil price have also increased at Shombhugonj bazar in the district. Due to increase of food price, fish production has also decreased. As a result, ...

India has no plans to curb food exports for now, Piyush Goyal, the Minister for Commerce and Industry, Consumer Affairs and Food and Public Distribution said on Friday, weeks after New Delhi banned private wheat exports. “As of now we do not see the need to do it on any other commodity,” Goyal said answering a query whether the government ...

Mohammad Jalehar was a teenager in the 1990s when he heard warnings about looming food and water shortages in Singapore. “Whenever our government would clash with Malaysia’s, we were told that there would be no more meat or fish or vegetables coming in from Malaysia to feed our families. Water would also be cut off,” he said. Now in his ...

Export of mangoes to United Kingdom and Hong Kong from Rajshahi district started on Wednesday. A consignment of 1,500 kg of Khirshapat mangoes for United Kingdom and Hong Kong was sent to Dhaka from Bagha upazila. The mango growers of the upazila have started sending these mangoes through contracted exporters Liton Enterprise and Mahatab Enterprise. The Department of Agricultural Extension ...

Major oil producers led by Saudi Arabia and Russia hold talks Thursday on whether to adjust output, hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to likely stick to their policy of only increasing output modestly, as they have done since May 2021, reports AFP. However, a Wall Street Journal report ...

BGMEA President Faruque Hassan has emphasized the need for fair prices to make the apparel industry more sustainable, positively impacting the well-being of garment workers. Production costs in garment manufacturing have gone up due to increase in prices of yarn, chemicals and other raw materials in the global supply chain and shipping charges, but prices offered by buyers do not ...

Cash-strapped Sri Lanka saw its highest inflation on record for the eighth consecutive month in May, official data showed Wednesday, as the island nation grapples with its worst-ever economic crisis. The Colombo Consumer Price Index (CCPI) rose 39.1 percent year-on-year last month, up from 29.8 percent in April, according to the statistics department, reports AFP.   Food inflation in Colombo ...

The Federation of Bangladesh Chamber of Commerce (FBCCI) has sought special loan moratorium facility till December this year. FBCCI president Md. Jasim Uddin on Tuesday told reporters that they sought this benefit due to the global economic downturn. He told reporters following a meeting with Bangladesh Bank on Tuesday. Jasim Uddin said, “We have requested the Governor of the central ...

The ministry of finance is expecting the growth of inward remittance by 16 per cent in the fiscal year FY2022-23. Bangladesh has, meanwhile, received inward remittance of USD $1654.94 million (1.65 billion) in 26 days of May. The ministry in a report said that over 5.5 lakh workers went abroad in the post Covid-19 period from the country. The trend ...