Deal signed on potato export to Russia

State-run Bangladesh Agricultural Development Corporation (BADC) yesterday signed a memorandum of understanding (MoU) with National Group, a private entity in Russia, for the export of potato to Russia, according to the agriculture ministry. 
4 April 2023, 18:00 PM

US shrugs off Saudi-led oil output cut

President Joe Biden on Monday shrugged off a sharp output cut by Saudi-led Opec+ oil producers, while the White House criticized the move but said it would be of limited impact on the US economy.
4 April 2023, 18:00 PM

China reopening boosts growth outlook of developing Asia

Developing Asia will grow faster than previously thought this year, underpinned by a stronger-than-projected rebound in China, but risks from global banking turmoil could weigh on the outlook, the Asian Development Bank (ADB) said on Tuesday.
4 April 2023, 18:00 PM

India cuts windfall tax on crude oil to zero

India cut its windfall tax on crude oil to zero from 3,500 rupees ($42.56) a tonne and halved the tax on diesel to 0.5 rupee per litre, a government notification said on Tuesday.
4 April 2023, 18:00 PM

WB lowers India’s current fiscal year growth forecast

The World Bank on Tuesday lowered its forecast for India’s economic growth in the current fiscal year that started on April 1 to 6.3 per cent from 6.6 per cent as it expects higher borrowing costs to hurt consumption.
4 April 2023, 18:00 PM

World Bank, ADB stress reforms for sustainable growth

The World Bank and the Asian Development Bank yesterday emphasised structural reforms of trade policies, public finance management, domestic resource mobilisation and the banking sector in Bangladesh in order to ensure sustainable growth in the upcoming years. 
4 April 2023, 18:00 PM

MoU today on resuming potato export to Russia

State-run Bangladesh Agricultural Development Corporation and private entity National Group Russia for Potato Export are expected to sign a memorandum of understanding today over the export of potato from Bangladesh to Russia. 
3 April 2023, 18:00 PM

India factory activity hits 3-month high

India’s manufacturing sector expanded at its quickest pace in three months in March on improved output and new orders, although firms shed jobs for the first time in over a year, a private business survey showed on Monday.
3 April 2023, 18:00 PM

Asia’s factory activity weakens as global demand falters

Global factory activity weakened in March as consumers feeling the pinch from rising living costs cut back, surveys showed on Monday, suggesting a deteriorating outlook will remain a drag on economic recoveries and keep policymakers on their toes.
3 April 2023, 18:00 PM

Dollar gains over oil output reduction plan

The dollar rose against other major currencies on Monday as fears over inflation resurfaced after a surprise announcement by major oil producers to cut production targets further, with traders wagering the Federal Reserve may need to increase interest rates again at its next meeting.
3 April 2023, 18:00 PM

Huawei to develop 50,000 ICT talents in South Asia

Global tech giant Huawei has taken an ambitious plan of developing 50,000 ICT talents in South Asia in the next five years.
3 April 2023, 18:00 PM

Oil price surges amid surprise output cuts

Oil prices surged yesterday in the global market, posting the biggest daily rise in nearly a year, after a surprise announcement by Opec+ to cut more production jolted markets.
3 April 2023, 18:00 PM

Key oil producers announce surprise output cuts

Saudi Arabia and other Opec+ oil producers on Sunday announced voluntary cuts to their production amounting to around 1.15 million barrels per day in a surprise move they said was aimed at supporting market stability.
2 April 2023, 18:00 PM

HK home prices hit 4-month high

Hong Kong’s residential-property market has posted gains for two consecutive months, pushing prices to a four-month high.
2 April 2023, 18:00 PM

Emirates honours top performing travel agents

Emirates recently recognised 13 travel agencies in Bangladesh for their performance in arranging flights with the flag carrier of the United Arab Emirates (UAE).
2 April 2023, 18:00 PM

Iraq launches new oil refinery to reduce imports

Iraq inaugurated an oil refinery in the central city of Karbala on Saturday, a project the government hopes will reduce its dependency on imports.
2 April 2023, 18:00 PM

India extends export curbs on gasoline, diesel

India has extended restrictions on the export of diesel and gasoline, the government said in a notification, as New Delhi tries to ensure the availability of refined fuels for the domestic market.
2 April 2023, 18:00 PM

Sound, enforceable commercial laws vital to attracting FDIs

Bangladesh needs to put in place sound and enforceable commercial laws and affordable commercial dispute resolution systems and ensure adequate protection to investments with a view to removing barriers hindering businesses and creating investment opportunities, said speakers yesterday.
2 April 2023, 18:00 PM

Eurozone, US inflation slows, bringing respite to policymakers

Eurozone inflation slowed sharply in March while US price increases eased last month as well, official data showed Friday, offering some relief to policymakers.
1 April 2023, 18:00 PM

Emirates, United in network expansion partnership

Emirates and American carrier United recently activated their codeshare partnership, allowing Emirates customers to enjoy easier access to an expanded choice of US destinations. 
1 April 2023, 18:00 PM