Business

Oil prices fell around 4% on Wednesday on the prospect of a possible ceasefire easing supply disruptions from the key Middle East producing region after reports the U.S. sent Iran a 15-point plan to end the war between them. Brent crude futures fell $4.89, or 4.7%, to $99.60 a barrel by 0335 GMT, after declining to as low as $97.57. ...

Gold prices have fallen sharply in the international market, dropping 2.36 percent in a single day to slip below the 4,500-dollar mark per ounce. According to GoldPrice, a widely referenced global tracker of precious metal prices, gold fell 109 dollars to 4,494 dollars per ounce, down from above 4,600 dollars a day earlier. Compared to March 14, when gold stood ...

The Bangladesh Petrol Pump Owners’ Association (BPPOA) has warned that filling stations across the country may shut down at any time due to a fuel shortage. The organization mentioned the matter in a message on its official Facebook page on Sunday (March 22) night. In a statement issued on Sunday night, the association said the situation at filling stations nationwide ...

Bangladesh is seeking billions in external financing to secure fuel and liquefied natural gas imports, as the new government led by Prime Minister Tarique Rahman moves to stabilise the economy amid a worsening global energy outlook due to the Iran war. The nation of 175 million relies on imports for about 95% of its energy needs, and state-run agencies have ...

Oil and gas prices rose sharply and stock markets slid back on Thursday after Iranian strikes hit energy infrastructure in the Middle East, including Qatar’s main gas facility. Brent crude was trading at just over $108 a barrel on Thursday evening, having risen as high as $119 earlier in the day. UK gas prices were 154.8p per therm, an increase ...

Gold prices have been reduced significantly in the local market, with the Bangladesh Jewellers Association announcing a cut of Tk7,640 per bhori. According to the new rates, the price of 22-carat gold—the highest quality—has been set at Tk254,625 per bhori (11.664 grams). The revised prices will come into effect from 10:00am on Thursday. The decision to lower prices was taken ...

The Cabinet on Tuesday approved Bangladesh’s proposal to join the “Investment Facilitation for Development Agreement (IFDA)” under the plurilateral Joint Statement Initiative of the World Trade Organization (WTO). The decision was made at a Cabinet meeting held at the Secretariat, chaired by Prime Minister Tarique Rahman. Cabinet Secretary Nasimul Ghani told reporters that the agreement aims to facilitate foreign direct ...

Oil prices surged more than five per cent Tuesday as several countries pushed back against Donald Trump’s demand that they help secure the key Strait of Hormuz, while Iran continued to target crude-producing neighbours. They recovered the previous day’s sharp losses that came after the head of the International Energy Agency (IEA) said more stockpiles could be tapped if needed. ...

Mohammad Ayub Mia, chairman of state-owned Sammilito Islami Bank PLC, has resigned. He submitted his resignation letter to the Secretary of the Financial Institutions Division (FID) under the Ministry of Finance on Monday. In his resignation letter, Ayub Mia, a former government secretary, cited personal reasons for stepping down. He was appointed as the bank’s first chairman on December 7 ...

People started buying fuel as per their demand from Sunday morning as the government lifted limits on fuel purchase following increase of supply. In a statement issued today, the Ministry of Power, Energy and Mineral Resources said the restrictions have been lifted to facilitate smooth travel during the upcoming Eid holidays and to support farmers’ fuel needs during the ongoing ...