Tuesday , 15 June 2021
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US economy adds 214,000 jobs, unemployment rate falls in October

BBC Online The US economy added 214,000 jobs in October, while the unemployment rate has fallen to 5.8%, official Labor Department figures show. The number of jobs created is slightly below forecasts of about 230,000 new posts, but still indicates a healthy US jobs market. The figures are a significant gauge of the health of the economy. US employers have ... Read More »

Eurozone economic forecast cut by EC

BBC Online The economy of the 18-country strong eurozone will grow by just 0.8% this year, the European Commission has said. The forecast is below the 1.2% estimate made earlier this year. The commission has also has cut its growth forecast for 2015 to 1.1% from 1.7%. EU vice president Jyrki Katainen said “the economic and employment situation is not ... Read More »

Hydrocarbon exploration in deep sea: ConocoPhillips delay casts doubt on 3 blocks

As previous deals for hydrocarbon exploration in two deep sea blocks in the Bay of Bengal have not worked out with US-based ConocoPhillips and Norway-based Statoil ASA, the government is now not so sure about awarding three other blocks to these companies. A top official of the Energy and Mineral Resources Division (EMRD) said new deals were unlikely now as ... Read More »

Trade deficit marks $100cr in two months

Jibon Islam, The Daily Observer The first month (July) of the current fiscal year of 2014-2015 saw some surplus in trade but in August it marked a fall, widening the average trade deficit for the two months. Trade deficit refers to a scenario where import expenditures surpass the export earnings. During the first two months (July-August) country’s import expenditures surpassed ... Read More »

Tannery traders facing uncertainity

Tannery traders are fearing uncertainty in their business in the coming months as a result of field-level buyers purchasing rawhides at higher than the fixed rate and a recent downtrend in international leather prices. In a bid to ensure uniform pricing, Bangladesh Tanners Association (BTA), Bangladesh Finished Leather and Footwear Exporters Association (BFLFEA) and Bangladesh Hide and Skin Merchant Association ... Read More »

IMF warns of ‘weak and uneven’ global recovery

BBC Online The International Monetary Fund has cut its forecast for global economic growth for both this year and next and warned the recovery is “weak and uneven”. It is now forecasting 3.3% growth this year, down from its forecast in July of 3.4%. Next year, it predicts 3.8% growth, against an earlier prediction of 4.0%. The reductions reflect sharp ... Read More »

Frozen food production far short of international demand

The export volume frozen foods declined by nearly 6% to over 55,000 metric tonnes in the last financial year compared to the FY2012-13 due to production shortfall of fishes, specially shrimps and the imposed export ban on other white fishes. In June-July of 2013-14, Bangladesh had exported 55,074 tonnes of frozen foods, which was 58,493 tonnes in the previous financial ... Read More »

ECB bank-funding programme sees low take-up

BBC Online A European Central Bank measure designed to stimulate the flagging eurozone economy has seen a low initial take-up by banks. The cheap loans for European banks have been designed to encourage lending to business. But out of total loans of 400bn euros (£315bn) available on Thursday, only 82.6bn was taken up by 255 banks. However, banks may be ... Read More »

Rawshan overpowers HM Ershad

Kamran Reza Chowdhury The parliamentary party meeting also decided to recommend HM Ershad for reinstatement of Moshiur Rahman Ranga and Tajul Islam Chowdhury in the party presidium JaPa Chairman HM Ershad has apparently been put to rout in power tussle with his wife Rawshon Ershad who was able to whip up support of at least 27 of the total 40 ... Read More »

BCIC confesses swindling Tk3,115 cr in 5- yr

Top officials of the Bangladesh Chemical Industries Corporation (BCIC) under the Industries Ministry yesterday confessed before a parliamentary watchdog that its corrupt officials had caused the theft of over Tk3,115 crore during a period of five years. Industries Secretary Mohammad Uddin Abdullah and BCIC Chairman Munsur Ali Shikder came under fire of the 10-member parliamentary Committee on Public Undertaking, in ... Read More »