Meta, formerly known as the Facebook company, for the first time has expanded its annual marketing summit to Bangladesh, and the digital event was aired yesterday.

India’s depleted foreign exchange reserves are likely to drop further, falling to their lowest level in over two years by end-2022, as the Reserve Bank of India continues to defend the rupee from the mighty dollar’s rise, a Reuters poll found.

Oil prices rose on Wednesday in US trading hours as production cuts caused by Hurricane Ian outweighed downward pressure from a strengthening dollar and expected US crude stockpile builds.

Tata Motors launched India’s lowest priced electric car at a little over $10,000 on Wednesday as the country’s only electric vehicle (EV) maker looks to draw in more buyers.

The UAE and Oman are exploring investment opportunities worth 30 billion dirhams and will increase bilateral economic cooperation in strategic sectors, according to a statement released during President Sheikh Mohammed bin Zayed’s visit to the Sultanate.

The government yesterday urged Malaysia to speed up the signing of a free trade agreement as it looks to retain preferential market access after the graduation from the grouping of the least-developed countries.  

Russia’s aviation industry will aim to go it alone without the West, using locally built parts to produce 1,000 airliners by 2030 and end a reliance on Boeing and Airbus, state-owned engineer Rostec said.

European Union countries were at odds on Wednesday over whether to cap gas prices in the bloc, with France, Belgium and 13 other states stepping up their call for the move opposed by Germany and others.

The US will have a commercial attaché posted in its embassy in Dhaka by this year as trade between Bangladesh and the US is fast rising, said Peter D Haas, US ambassador to Bangladesh, yesterday. 

The dollar lost a little of its strength Tuesday after starting the week by surging against major peers, including a record high versus the pound, but while equity markets stabilised, sentiment remained dampened by recession fears.

Regulatory reforms ensuring level playing fields for local and foreign companies and reforms in taxation are required to attract more foreign direct investment (FDI) from the European Union (EU) nations to Bangladesh.

The World Trade Organization’s chief said Tuesday she believes the world is heading towards a global recession due to multiple colliding crises, and called for radical policies to revive growth.

The American Apparel and Footwear Association (AAFA) along with 270 other trade bodies has urged the US Congress to reinstate the Generalised System of Preferences (GSP) for the convenience of American traders.

Two major multilateral lenders have forecast Cambodia’s economic growth for 2022 at around five per cent, buoyed by bumper export performance earlier in the year, coupled with ongoing policy support and continued tourism recovery, but held back by external pressures associated with Covid-19 and the Ukraine conflict.

Global investors are preparing for more market mayhem after a monumental week that whipsawed asset prices around the world, as central banks and governments ramped up their fight against inflation.

The United Arab Emirates agreed Sunday an “energy security” deal with Germany to supply liquefied natural gas and diesel as Berlin searches for new power sources to replace Russian supplies.

Seven more ships laden with agricultural produce left Ukrainian ports on Sunday, the country’s infrastructure ministry said, bringing the total to 218 since a UN-brokered corridor through the Black Sea came into force at the start of August.

India’s foreign exchange reserves fell for a seventh straight week, dropping to $545.652 billion in the week to September 16, its lowest level since October 2, 2020, Reserve Bank of India’s weekly statistical supplement showed on Friday.

Bangladesh needs more Chinese market-oriented investments to boost its exports to the Asian economic powerhouse, analysts said yesterday.

The US Energy Department on Friday issued a plan detailing a government-wide strategy for ramping up production and use of sustainable aviation fuels (SAF).