Russia’s oil revenue sinks as sanctions bite

Russia’s oil export revenue sank 42 per cent in February as Western powers tightened sanctions on the country in the wake of the Ukraine war, the International Energy Agency said on Wednesday.
15 March 2023, 18:00 PM

Sri Lanka's economy shrinks 7.8% in 2022

Sri Lanka's economy shrank 7.8 per cent in 2022 from the previous year, government data showed on Wednesday, as the country struggled with its worst financial crisis in more than seven decades.
15 March 2023, 13:21 PM

$18b export potential to EU unutilised: study

Bangladesh is yet to utilise $18 billion-worth export opportunities to the European Union availing duty and quota free privileges enjoyed by the South Asian nation as a least developed country (LDC), according to a study shared yesterday. 
15 March 2023, 02:30 AM

US consumer prices increase solidly in February

US consumer prices increased in February amid sticky rental housing costs, but economists are divided on whether rising inflation will be enough to push the Federal Reserve to hike interest rates again next week after the failure of two regional banks.
14 March 2023, 18:00 PM

UK unemployment at historic low

British unemployment remains near its historical low but wages are still falling in real terms, official data showed Tuesday on the eve of a budget.
14 March 2023, 18:00 PM

Why didn’t regulators see it coming?

With hindsight, there were warning signs ahead of last week’s spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators.
14 March 2023, 18:00 PM

How Silicon Valley Bank's collapse ripped through global tech

Not long after California startups started pulling money out of troubled Silicon Valley Bank, entrepreneurs in other parts of the world woke up to the news.
14 March 2023, 06:17 AM

Lessons for Bangladesh from US bank collapse

Silicon Valley Bank (SVB), the 16th largest lender in the United States, has not reportedly faced any scam or lack of corporate governance. Still, it could not avoid the collapse. 
14 March 2023, 02:00 AM

‘Digitalisation key to smooth business’

Ensuring infrastructure facilities and logistics support in Bangladesh are the main challenges for the country to flourish in global trade, according to a top official of a global logistics company.
13 March 2023, 03:00 AM

Regulators urged to find Silicon Valley Bank buyer as industry frets about fallout

Some financial industry executives and investors were growing increasingly concerned on Saturday that the collapse of Silicon Valley Bank could have a domino effect on other US regional banks if regulators did not find a buyer over the weekend to protect uninsured deposits.
12 March 2023, 09:17 AM

Silicon Valley Bank: largest failure since 2008 crisis

Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded.
11 March 2023, 18:00 PM

5,200 tonnes of jute seeds to be imported from India

The government has given go-ahead for the import of around 5,200 tonnes of jute seeds from India this season.
10 March 2023, 11:00 AM

Share-backed loans paid back: Adani

Indian billionaire Gautam Adani and his family have prepaid all borrowings backed by his conglomerate Adani Group’s shares, senior executives told investors at a meeting in London, Bloomberg News reported on Wednesday, citing people who attended the meeting.
9 March 2023, 18:00 PM

India jostles with China for crude from Russia

Private Indian refiners are jostling with independents in China for Russian ESPO crude loading in April, pushing prices higher after Moscow lowered exports of its flagship grade Urals, industry sources said.
9 March 2023, 18:00 PM

Extending Ukraine grain deal complicated

Russian Foreign Minister Sergei Lavrov said Thursday that extending a deal that allowed grain exports from Ukraine to resume was becoming “complicated” as he claimed it was not being properly implemented.
9 March 2023, 18:00 PM

Fed mulls bigger rate hikes

The United States is prepared to speed up interest rate hikes –- and could raise them higher than anticipated -- if needed to cool inflation and a strong jobs market, Federal Reserve Chair Jerome Powell said Tuesday.
8 March 2023, 18:00 PM

China promises Sri Lanka deal on debt treatment in coming months

The Export-Import Bank of China has told Sri Lanka it will try to finalise in the months ahead how it treats debt owed by the crisis-hit nation, according to a letter seen by Reuters which also reiterated a moratorium for debt due in 2022 and 2023.
8 March 2023, 18:00 PM

Russia considers challenging US nominee to head World Bank

Russia is consulting with its allies about challenging the US nominee to head the World Bank, Moscow’s top representative at the bank said on Tuesday, a move that could complicate what was expected to be a smooth succession process.
8 March 2023, 18:00 PM

India’s oil deals with Russia dent decades-old dollar dominance

US-led international sanctions on Russia have begun to erode the dollar’s decades-old dominance of international oil trade as most deals with India - Russia’s top outlet for seaborne crude - have been settled in other currencies.
8 March 2023, 18:00 PM

Dollar slips

The dollar steadied on Monday as investors awaited testimony from Federal Reserve Chair Jerome Powell ahead of the February jobs report at the end of the week that will likely influence how much more the US central bank will raise interest rates.
6 March 2023, 18:00 PM