GDP grows 7.1%, but falls below provisional data

Bangladesh logged higher growth in gross domestic product (GDP) in 2021-22 fiscal year compared to the previous year, but it was 15 basis points below the provisional estimate.
5 February 2023, 15:16 PM

Idcol to get €140.5 million from German bank

The Infrastructure Development Company Limited (Idcol) is all set to get €140.5 million from German Development Bank Kreditanstalt fur Wiederaufbau (KfW) -- €41 million for energy efficiency and €99.5 million for renewable energy projects.
5 February 2023, 11:06 AM

Adani Enterprises shelves $122 mn bond plan

Adani Enterprises Ltd has shelved a plan to raise as much as 10 billion Indian rupees ($121.65 million), Bloomberg News reported on Saturday.
4 February 2023, 14:33 PM

Weak financial system always a problem for economic management

The immediate outlook for the new year is not as bad as had been predicted before. The Chinese economy is opening up, the industrialised West is adjusting and realigning their economies to the new realities, and a global economic recession does no longer seems inevitable.
4 February 2023, 12:00 PM

US unemployment rate lowest since 1969

US job growth accelerated sharply in January while the unemployment rate hit more than a 53-1/2-year low of 3.4 percent, pointing to a stubbornly tight labor market, and a potential headache for Federal Reserve officials as they fight inflation.
4 February 2023, 03:24 AM

Adani issue a ‘storm in a tea cup’

The Indian government yesterday termed the stock market turmoil sparked by a sharp fall in the values of Adani Group a "storm in a teacup" as a ruckus over the issue disrupted the proceedings of both Houses of the Indian parliament for the second successive day.
3 February 2023, 13:26 PM

Adani denies rise due to relation with Modi

Beleaguered Indian tycoon Gautam Adani denied today that his rise to become Asia's richest man -- a title he has lost in a phenomenal stock rout -- was due to Prime Minister Narendra Modi, as shares in his conglomerate slumped again.
3 February 2023, 05:42 AM

Bangladesh Bank sells US dollar at Tk 101 for first time

Bangladesh Bank has sold US dollar at Tk 101 each to banks for the first time, giving indication that it is likely to devalue the local currency to reflect the market reality.
2 February 2023, 13:23 PM

IMF releases $476.27 million as first loan instalment for Bangladesh

The International Monetary Fund (IMF) has disbursed $476.27 million to Bangladesh as the first instalments of $4.7 billion loan it approved early this week.
2 February 2023, 13:01 PM

Adani group's market losses hit $100 billion

India's Adani group shares plunged on Thursday after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market capitalisation losses to $100 billion since last week's short-seller attack.
2 February 2023, 05:50 AM

Adani abandons $2.5 billion share sale in big blow to Indian tycoon

Gautam Adani's flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.
1 February 2023, 19:10 PM

Does Bangladesh ship garments to the Middle East?

Bangladesh ships apparel items to the Middle Eastern countries and the good thing is local garments are steadily gaining popularity in the Middle eastern countries.
1 February 2023, 11:40 AM

Payments firm PayPal to lay off 2,000 employees

PayPal Holdings Inc (PYPL.O) has said it is planning to cut 7 percent of its workforce, or about 2,000 employees, the latest in a list of fintech firms to be hit by the economic slowdown.
1 February 2023, 02:55 AM

Dhaka trade fair fetches Tk 300 crore in export orders

The 27th edition of the Dhaka International Trade Fair (DITF) came to an end today and it fetched export orders worth Tk 300 crore.
31 January 2023, 13:22 PM

Adani Enterprises enters final day of crucial $2.5 billion share sale

India's Adani Enterprises (ADEL.NS) climbed 2 per cent in early trade on Tuesday, the last day for its $2.5 billion secondary share sale, with all eyes on whether the company can secure enough backing for the offering after a US short-seller's scathing attack.
31 January 2023, 06:03 AM

Samsung profit plummets to 8-year-low

Samsung Electronics Co Ltd (005930.KS) today reported its lowest quarterly profit since 2014 and said persistent macroeconomic uncertainty will make for a tough first half year, though demand is likely to start recovering in the second half.
31 January 2023, 02:55 AM

Growth trajectory of Adani Group's underlying businesses not affected: CFO

The growth trajectory of the underlying businesses of Adani Group has not been affected by the Hindenburg Research report that sparked a $48 billion rout in its stocks, Chief Financial Officer Jugeshinder Singh said today.
30 January 2023, 05:26 AM

Adani hits back at Hindenburg, says complies with local laws

India's Adani Group issued a detailed riposte on Sunday to a Hindenburg Research report that sparked a $48 billion rout in its stocks, saying it complies with all local laws and had made the necessary regulatory disclosures.
30 January 2023, 03:45 AM

Tea production falls 3% in 2022

Tea production in Bangladesh decreased by nearly 3 per cent year-on-year in 2022.
29 January 2023, 14:07 PM

‘Local conglomerates lost Tk 65,000cr for dollar price hike’

Bangladeshi conglomerates counted Tk 65,000 crore in losses in the last one year because of the fall of the local currency against the US dollar, which made loans costlier amid global economic volatility, a noted economist said today.
29 January 2023, 13:48 PM