Oil prices held near three-week highs on Thursday after Opec+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020.

More policies push to meet appetites for evening consumption in China.

Beximco Ltd has raised 32.5 million euros from Dutch financial institution ING Bank in order to expand its knit fabric facility, said a press release today.

The German government expects Europe's largest economy to slide into recession next year, contracting 0.4% as an energy crisis, rising prices and supply bottlenecks take their toll, two sources told Reuters on Thursday, citing provisional figures.

The garment makers today said they would manufacture half of the apparel products by using recyclable materials by 2030.

Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China, Turkey, and other markets where better premiums are offered, three bank officials and two vault operators told Reuters.

British businesses last month suffered the sharpest contraction in activity since early last year, although the downturn was a little less severe than first estimated, a survey showed on Wednesday.

Opec+ agreed its deepest cuts to oil production since the 2020 Covid pandemic at a Vienna meeting on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more.

German exports rebounded in August thanks to strong demand from the United States, official data showed Wednesday, but analysts warned that the outlook for Europe’s top economy remained gloomy.

The drop in euro zone business activity deepened last month, a survey showed, probably extinguishing any hope the currency union would avoid recession just as elevated inflation puts pressure on the European Central Bank to act.

The World Trade Organisation on Wednesday dramatically lowered its global trade forecast for 2023, as Russia’s war in Ukraine and other shocks take their toll on the world economy.

Last month, Bangladesh’s export earnings fell to a 13-month low of $3.9 billion. Why?

Turkish businesses can consider the 100 economic zones and 28 high-tech parks of Bangladesh as their preferred investment destinations, Dhaka Chamber of Commerce and Industry President Rizwan Rahman said yesterday.

Turkish energy imports leapt 115 per cent to $9.56 billion in September, the highest ever monthly level, Trade Ministry data showed on Tuesday.

Saudi Arabia’s non-oil private sector growth remained solid in September helped by a relatively strong pickup in output and new orders, albeit at a slower pace than in August as confidence softened, a survey showed on Tuesday.

Average wheat, maize, and rice prices rose 20 per cent, 29 per cent and 8 per cent respectively worldwide in September compared to a year ago, according to the Food Security Update of the World Bank.  

The United Nations is pushing to cut the price of fertilisers to avoid a “future crisis” of availability, said a senior UN trade official who is involved in talks aimed at boosting the export of Russian fertilisers, including ammonia.

Turkish businesses can consider the 100 economic zones and 28 high-tech parks of Bangladesh as their preferred investment destinations, Dhaka Chamber of Commerce and Industry President Rizwan Rahman said today.

Global factory output mostly weakened in September as slowing demand added to the pain from persistent cost pressures and tighter monetary policy, surveys showed on Monday, diminishing economic recovery prospects.

Oil prices jumped by about $4 on Monday as Opec+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the Covid-19 pandemic.