Business

Asian markets fell Wednesday as investors struggled to break out of a long-running cycle of volatility, with optimism over the economic recovery playing off against fears about inflation, while oil prices extended their losses on reports of a possible breakthrough in the Iran nuclear talks. Bitcoin was also taking another beating after China’s central bank said cryptocurrencies cannot be used ...

Israeli-Palestinian conflicts rarely cause lasting damage to Israel’s markets, history shows, because investors both direct and indirect appear more interested in a resilient economy – and one currently bulging with tech money. Nights of rocket attacks by Israeli forces on Palestinian militants in the Gaza Strip and by the militants on Israeli towns, combined with a dip in global markets ...

Amazon is reportedly in talks to buy the historic MGM Studios for $9bn (£6.35bn). MGM is one of Hollywood’s most famous studios, with its Leo the Lion logo and an almost century-long history. The sale would give the tech giant’s Prime streaming service access to a vast back catalogue of iconic content. The reports come just hours after telecoms giant ...

The cabinet has paved the way to set up gold refineries in Bangladesh by approving the draft of Gold Policy 2018 (Amendment 2021) in principle. The draft policy has kept provisions of importing unrefined gold or partially-refined gold alongside gold and gold bars as well as setting up refineries in the country. The approval came from the cabinet meeting held ...

Ryanair boss Michael O’Leary says he is seeing the start of a strong rebound for travel as the easing of lockdown releases pent-up demand. Europe’s biggest budget airline revealed the scale of the coronavirus collapse in travel – an €815m (£702m) loss and traffic down 81% in the year to March on the previous 12 months. But Mr O’Leary said ...

The business empire of Liberty Steel owner Sanjeev Gupta is under investigation by the Serious Fraud Office (SFO). The probe is over suspected fraudulent trading and money laundering, including its financing arrangements with failed company Greensill Capital UK. Greensill, a major lender to Mr Gupta’s business, collapsed in March. GFG Alliance, Mr Gupta’s family conglomerate, employs 35,000 people at companies ...

Elon Musk’s SpaceX announced Thursday that Google would team up with its Starlink satellite internet service to deliver cloud computing services to business customers. Under the partnership, SpaceX will place its Starlink ground stations within Google data center properties, which can help the service support businesses requiring cloud-based applications. Starlink is in the process of launching its satellite broadband internet ...

Biman Bangladesh Airlines is going to resume Dhaka-Rajshahi flights from May 16. One flight will be operated on this route every day of the week, said a press release. Passengers can visit Biman sales office or its official website www.biman-airlines.com for further details. Tickets can be purchased from Biman’s mobile app, website, travel agents, tour operators, Biman call centres and ...

Oil prices fell on Thursday, pulling back from an eight-week high as concerns about the coronavirus crisis in India, the world’s third-biggest importer of crude, tempered a rally driven by IEA and OPEC predictions that demand is coming back strong. Brent crude was down 32 cents, or 0.5%, at $69.00 a barrel by 0145 GMT, after gaining more than 1% ...

Biman Bangladesh Airlines will run two additional flights on the Dhaka-Dubai route on May 12 before the UAE’s ban for travellers from Bangladesh comes into effect. The national flag carrier made the move as the UAE’s restrictions for entry of travellers from Bangladesh will come into effect Wednesday, Biman Deputy General Manager (public relations) Tahera Khandaker said Monday, reports UNB. ...