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.

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. 

The global lender says in its latest report on Bangladesh development update

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.

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.

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.

Global tech giant Huawei has taken an ambitious plan of developing 50,000 ICT talents in South Asia in the next five years.

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.

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. 

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.

Hong Kong’s residential-property market has posted gains for two consecutive months, pushing prices to a four-month high.

Emirates recently recognised 13 travel agencies in Bangladesh for their performance in arranging flights with the flag carrier of the United Arab Emirates (UAE).

Iraq inaugurated an oil refinery in the central city of Karbala on Saturday, a project the government hopes will reduce its dependency on imports.

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.

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.

Saudi Arabia led a coordinated production cut by major oil powers on Sunday despite US pressure to pump more crude, saying they were aiming at market stability

The association sents a letter to finance ministry

Says British high commissioner at Dhaka Chamber’s seminar on arbitration act

In term of brand value among the South Asian countries, Bangladesh stands second after India while the brand values of Pakistan, Sri Lanka and Nepal are respectively $232 billion, $48 billion and $29 billion

The amount is a seven-month high