Business Views & Comments

Australia hikes interest rates to rein in inflation

International Desk Australia’s central bank raised interest rates more than expected Tuesday and warned of more increases as officials try to rein in “significantly” high inflation. Governor Philip Lowe said the Reserve Bank’s main lending rate would go up half a percentage point to 0.85 percent, surprising analysts who had tipped a quarter point lift. He also said “extraordinary” support ...

Bangladesh Gas, Oil and Mineral resources Corporation Bill, 2022 placed in JS

Staff Reporter Bangladesh Gas, Oil and Mineral resources Corporation Bill, 2022 was placed in the parliament on Sunday aiming to establish a corporation for implementing action plan, development projects and further development of the sector. The bill, placed by State Minister for Power, Energy and Mineral Resources Nasrul Hamid, was later sent to the parliamentary Standing Committee on the Ministry ...

SBAC Bank opens TanBazar Sub-Branch at Narayanganj

Staff Reporter Tan Bazar Sub-branch of South Bangla Agriculture and Commerce Bank Ltd. was inaugurated at Tan Bazar, Narayanganj on Sunday (5 June) Mr. Mosleh Uddin Ahmed Managing Director and CEO of SBAC Bank was present as the Chief Guest. Mr. M Shamsul Arefin, Additional Managing Director of the Bank presided over the inaugural ceremony. Mr. Md. Nurul Azim, Deputy ...

Tea production increasing by 5 percent each year: Commerce Minister

Staff Reporter Commerce Minister Tipu Munshi on Saturday said quality tea production is increasing by 4 to 5 percent each year in the country. Despite this increase, Bangladesh’s tea export is not increasing in line with the production as domestic consumption of tea increased with the purchasing ability of people, he said. People in the rural areas are also accustomed ...

‘Super bad feeling’ about economy: Elon Musk warns of Tesla job cuts

Business Desk San Francisco: Tesla CEO Elon Musk has a “super bad feeling” about the economy and wants to cut about 10% of jobs at the electric carmaker, he said in an email to executives seen by Reuters. The message came two days after the world’s richest man told employees to return to the workplace or leave the company. Tesla ...

World Bank/S&P rank Colombo as most efficient port in South Asia

Online Desk The Port of Colombo has been ranked as the most efficient port in South Asia and the Indian Sub-Continent, third in the Indian Ocean rim and 22nd among 370 ports globally, in the second edition of the Global Container Port Performance Index (CPPI) 2021, ranking developed by the World Bank and S&P Global Market Intelligence and Financial Services. ...

BERC decides to reduce 12kg LPG cylinder price by Tk 93

Staff Reporter Bangladesh Energy Regulatory Commission (BERC) has decided to reduce Tk 93 of a 12-kg LPG cylinder at consumer level. As a result, the price of a 12-kg cylinder stands at Tk 1,242 from Tk 1,335. BERC chairman Abdul Jalil came up with the declaration on Thursday afternoon. The new price will come into effect from 6:00pm today.

Now bottled soybean oil Tk 198 per litre, non-bottled Tk 180

Staff Reporter The price of soybean oil has increased in the country due to hike in oil price in the international market. As per the new price, per litre non-bottled soybean oil is Tk 180 while per litre bottled soybean oil is Tk 198. Besides, the price of 5 litre bottled soybean oil has been fixed at Tk 985.At the ...

Beef, chicken prices soar in Dhaka on Eid eve

Business Desk Prices of beef and all kinds of chicken have shot up in the capital’s kitchen markets ahead of the Eid-ul -Fitr with the rise in demand.The price of beef has increased by Tk 30 to Tk 50 to Tk 700-750 per kg while prices of all kinds of chicken went up by Tk 20 to Tk 30 per ...

Salary, Eid bonus paid to workers in all RMG factories: BGMEA President

Staff Reporter Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president Faruque Hassan said all readymade garments (RMG) factories under the organization have paid bonus of Eid-ul-Fitr to workers alongside their wages. He also said, “100 percent of the factories have given festival allowances and advance salaries for the month of April 2022 to the workers as per the decision of ...