Business

Asian markets were mixed Thursday as investors shrugged at data showing US inflation fell further but only marginally, suggesting the Federal Reserve still had much to do in its battle against rising prices. Adding to the uncertainty was the battle to raise the US debt ceiling to avert a destabilising default, with Democrats and Republicans unable to reach a deal ...

The country’s falling forex reserve managed to make a modest turnaround on Wednesday after Bangladesh received $507 million from the World Bank as budget support. The country’s forex reserve now stands at $30.36 billion after it hit seven-year low at $29.77 billion following the latest Asian Clearing Union (ACU) payment of $1.88 billion earlier this month. Bangladesh Bank Executive Director ...

The government has approved a proposal of the Trading Corporation of Bangladesh (TCB) under the Commerce Ministry to buy 11 million litres of soybean oil from an Indian company. Besides, another proposal of the TCB to buy 12,500 metric tonnes of sugar from a Singaporean company was approved at the meeting. The government will have to pay over Tk 215.10 ...

A series of gas-fired power plants having combined capacity to generate 226.55MW of electricity sought three to five years of extension despite commissioning of large power plants in the country. “We will start negotiations from May 21 to extend the 55MW gas-fired plant under the sponsorship of Precession Energy Ltd on a no electricity no payment basis,” an official source, ...

Pakistan and Afghanistan’s Taliban-appointed government have agreed to boost trade and lower tensions along their border amid a surge in militant attacks on security forces, officials said Monday. Pakistani Foreign Minister Bilawal Bhutto Zardari and Afghanistan’s Taliban-appointed foreign minister, Amir Khan Muttaqi, struck the deal Sunday in Islamabad, according to Pakistan’s Foreign Ministry. The agreement is designed to improve bilateral ...

A Joint Communique has been signed between Bangladesh and the United Kingdom (UK) with the aim of establishing an ‘Aviation Partnership’ for the necessary cooperation in the development of Bangladesh’s aviation sector, including the purchase of passenger and cargo aircrafts from Airbus. Prime Minister’s Private Industry and Investment Adviser Salman F Rahman and UK’s Investment Minister Lord Dominic Johnson signed ...

There is no scope of giving permission to import all kinds of goods from India through Akhaura Land Port in Brahmanbaria, said National Board of Revenue (NBR) chairman Abu Hena Md Rahmatul Munim. He made the remarks while talking to correspondents after inaugurating a bagge scanner set up at Akhaura Land Port in Brahmanbaria on Saturday (May 6, 2023) afternoon. ...

Existing units on the industrial estates belonging to Bangladesh Small and Cottage Industries Corporation (BSCIC) generated employment for 14,724 people, both male and female, during the first nine months of the current fiscal. The people got the jobs in various fields like enterprise development, skill development and training, industry ownership transfer and establishment of new industries. There are 1,027 units ...

German sportswear giant Adidas reported Friday a hefty first-quarter loss, acknowledging its split from controversial US rapper Kanye West was “hurting” its bottom line. The company booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier. The end of its highly successful ...

A ship carrying record numbers of reconditioned vehicles imported from Japan and Singapore has arrived at Chittagong port recently. The Malaysian flag carrier ‘MV Malaysia Star’ carrying 1265 reconditioned vehicles berthed at  the port’s Jetty No. 7 and 8,  said Barrister Badruzzaman Munshi, deputy commissioner of Chittagong Customs House. He said that 569 vehicles were unloaded at Chittagong Port. The ...