What exactly were global institutions overseeing?

Noted economist Debapriya Bhattacharya raised concerns about the role of global institutions, indicating the International Monetary Fund (IMF) and the World Bank (WB), in assessing Bangladesh's debt sustainability under the previous regime as the country faces increasing pressure from escalating debt servicing obligations.
9 December 2024, 20:10 PM

Extreme heat puts garment factory workers at risk, study shows

In Dhaka, Hanoi, Ho Chi Minh City, Phnom Penh and Karachi, the number of days with "wet-bulb" temperatures - a measurement that accounts for air temperature as well as humidity - above 30.5 degrees Celsius jumped by 42% in 2020-2024 compared to 2005-2009, researchers at Cornell University's Global Labor Institute found
9 December 2024, 07:46 AM

China consumer prices rise at slower rate in November

The consumer price index (CPI), a key measure of inflation, rose 0.2 percent in November year-on-year, down from 0.3 percent in October, the National Bureau of Statistics (NBS) said
9 December 2024, 06:15 AM

Chinese premier warns world financial leaders of 'deglobalisation' risks

Premier Li Qiang made the remarks in his opening speech at a summit attended by the top leaders of organisations including the International Monetary Fund, the World Trade Organisation and the World Bank.
9 December 2024, 05:36 AM

UK employers cut growth forecasts as tax hikes weigh on economy

Growth in 2025 is now seen at 1.6 percent, the Confederation of British Industry (CBI) said, down from a projection of 1.9 percent made in June
8 December 2024, 05:43 AM

US clean energy, defense to be impacted by China export curbs

Beijing announced this week it would ban exports of gallium, germanium and antimony to the United States, targeting materials used for everything from semiconductors to solar cells
8 December 2024, 05:00 AM

US job market bounces back from impact of strikes, hurricanes

The labour market's resilience is driving the economy through strong consumer spending, with the closely watched employment report from the Labor Department on Friday showing solid wage growth last month
7 December 2024, 10:41 AM

Walmart, Amazon holiday spending rise as Target, Best Buy stumble, data shows

Holiday shoppers largely browsed at brick-and-mortar stores, making more online purchases at some retailers, snapping up such items as pre-owned Rolex watches,
7 December 2024, 05:09 AM

US Fed officials warn of ongoing risks from elevated inflation

The Federal Reserve has a dual mandate from Congress to keep both inflation and unemployment under control, and recently began rolling back high interest rates in order to better support the labor market
7 December 2024, 05:05 AM

BSC issues tender to dispose of two old oil tankers

The Bangladesh Shipping Corporation (BSC) has finally taken steps for the disposal of two of its oldest oil tankers, which, according to experts, had become unfit by 2015.
5 December 2024, 20:20 PM

LC margin bar withdrawn for crisis-hit six banks

They are: IBBL, FSIBL, SIBL, Union, Global Islami, Bangladesh Commerce
5 December 2024, 19:38 PM

MGI’s concern, ADB sign $20 million loan deal for flour milling plant

The plant will produce 660,000 tonnes of wheat with 37% less electricity than regular
5 December 2024, 11:18 AM

Grains for gold: Indian export curbs drive boom in barter smuggling

The practice of smuggling gold to buy grain has persisted even after India, the world's second-largest gold consumer, slashed 9 percentage points from its import duty in July, taking it to the lowest in more than a decade
5 December 2024, 10:38 AM

Britain approves $19 billion Vodafone-Three mobile merger

The Competition and Markets Authority had previously said the deal could push up customer prices, but it later accepted that a pledge by the two companies to invest in 5G networks and offer protections for retail and wholesale customers were enough to ease its concerns.
5 December 2024, 07:44 AM

Mystery, volatility, Trump: the Bitcoin phenomenon

Donald Trump won the US election promising to make the country the "bitcoin and cryptocurrency capital of the world":
5 December 2024, 06:15 AM

Bitcoin hits $100,000 for first time

The digital unit has advanced more than 50 percent since the tycoon's poll win -- and around 134 percent since the turn of the year
5 December 2024, 03:15 AM

6-day furniture fair begins in Chattogram

28 companies are taking part in the event
4 December 2024, 12:53 PM

Bangladesh's new LNG purchase policy draws Shell, BP, Glencore and Aramco

Bangladesh made its first LNG import in 2018, bought 5.2 million metric tons in 2023, up 19 percent from the previous year
4 December 2024, 11:24 AM

China curbs exports of key chipmaking components to US

Among the materials banned from export are metals gallium, antimony and germanium, Beijing's commerce ministry said in a statement that cited "national security" concerns
4 December 2024, 07:32 AM

Developing countries face record foreign debt costs: World Bank

The high cost of servicing foreign debt has pushed many developing countries to borrow more money from multilateral institutions like the World Bank, stretching their finances
4 December 2024, 05:28 AM