Putin bans Russian oil exports to countries that implement price cap

President Vladimir Putin on Tuesday delivered Russia's long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from February 1 for five months to nations that abide by the cap.
28 December 2022, 03:22 AM

India wants Bangladesh to review food import demand

India has suggested that Bangladesh review the proposed import quota on several food items as the neighbouring nation believes the quantity sought as a guaranteed supply is too high.
27 December 2022, 14:49 PM

Three more RMG factories win green certification

Three more Bangladeshi garment factories have been awarded the Leadership in Energy and Environmental Design (LEED) certification for extraordinary initiatives taken for green production.
27 December 2022, 07:00 AM

Mongla port upgrade: Tk 6,014 crore deal inked with Indian firm

Egis India Consulting Engineers Private Limited has been appointed as the consultant for a capacity building project worth Tk 6,014 crore at Mongla port, the second largest seaport in Bangladesh.
26 December 2022, 15:26 PM

India's forex reserves snap 5-week rise

India's foreign exchange reserves snapped a five-week rising streak and fell to $563.5 billion in the week through Dec. 16, the Reserve Bank of India's (RBI) statistical supplement showed on Friday.
25 December 2022, 08:08 AM

Brand Forum presents ‘most loved’ brand awards

Bangladesh Brand Forum (BBF) has presented “the most loved” awards to local and international brands in Bangladesh.
24 December 2022, 15:20 PM

Abu Subhan, a transformational corporate leader

It is sometimes very fascinating and incredible to see how people can demonstrate their talent, entrepreneurial capabilities and corporate leadership very modestly without any public exposure or much publicity. Such attributes very fittingly relate to Late Abu Syed Mohammad Obaidus Subhan (officially known ASMO Subhan), popularly known as ‘Boro Shaheb’ among his colleagues and subordinates in Duncan group in Bangladesh, and as ‘Abu’ among his colleagues in Camellia or Lawrie Group PLC in UK - the ultimate holding company of Duncan group in Bangladesh. 
24 December 2022, 13:22 PM

Japan insurers to halt coverage for ships sailing in Russian waters

Japanese insurers will stop providing coverage for ship damage suffered in Russian waters, a decision that could potentially disrupt Japan's imports from Russia's gas and oil producers in Sakhalin, people familiar with the matter said Saturday.
24 December 2022, 12:35 PM

Non-banks won’t be defaulters if they clear 50% instalments by Dec

The Bangladesh Bank today relaxed its term loan repayment policy for non-bank financial institutions (NBFIs), days after it extended more time to the borrowers of banks to pay back loans.
21 December 2022, 14:10 PM

Xiaomi to slash 15 percent of jobs: report

China's Xiaomi Corp (1810.HK) has started laying off workers in several units of its smartphone and internet services business, reducing its workforce by about 15 percent, the South China Morning Post reported on Tuesday..The Hong Kong newspaper cited social media posts by affected employe
20 December 2022, 06:03 AM

Net forex reserves can clear four months’ import bill: CPD

Bangladesh now has the ability to clear import payments of four months if the country’s net forex reserves are taken into consideration, the Centre for Policy Dialogue (CPD) said today.
17 December 2022, 13:56 PM

Women’s access to financial services rises

The gap in access to financial services between men and women dropped to 4 percentage points for the first time in the past decade, according to the Global Findex Database 2021.
15 December 2022, 13:19 PM

Exclusive: How a secret software change allowed FTX to use client money

In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange’s software.
14 December 2022, 12:50 PM

BSTI certification made mandatory for 10 new products

Bangladesh Standards and Testing Institution (BSTI) has included 10 new products in the list which now need mandatory certification from the national standards body.
12 December 2022, 09:01 AM

Envoy Textiles gets $11.2 million ADB loan for yarn spinning unit

The Asian Development Bank (ADB) has entered into a €10.8 million ($11.2 million) loan agreement with Envoy Textiles to fund a second yarn spinning unit at Envoy’s manufacturing plant in Mymensingh’s Bhaluka.
11 December 2022, 15:24 PM

Banks asked to levy minimum LC margin on importers

The central bank has asked banks to take a minimum cash advance from importers while opening letters of credit (LCs) for a number of essential commodities in order to keep their prices at a tolerable level during Ramadan and ensure smooth supply.
11 December 2022, 11:58 AM

Recession worries could support dollar after monstrous 2022 rally

A breathtaking surge in the US dollar trampled foreign currencies, gouged corporate profits and gave investors one of the year’s few winning trades.
10 December 2022, 13:45 PM

China's Xi calls for oil trade in yuan at Gulf summit in Riyadh

Chinese President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a move that would support Beijing's goal to establish its currency internationally and weaken the US dollar's grip on world trade.
10 December 2022, 13:34 PM

India's Snapdeal to shelve $152 million IPO amid tech stocks rout

SoftBank-backed Indian e-commerce firm Snapdeal has decided to pull the plug on its $152 million IPO, the company told Reuters, making it the latest casualty of a meltdown in tech stocks that has soured investor sentiment.
10 December 2022, 13:14 PM

'The worst is yet to come': the curse of high inflation

Globally, people are experiencing inflation at levels not seen for decades as prices surge for essentials like food, heating, transport and accommodation. And though a peak could be in sight, the effects may yet get worse.
10 December 2022, 12:11 PM