Global gold demand grew by 15 per cent to 1,050 tonnes in the second quarter of 2016, mainly driven by considerable investment demand, World Gold Council (WGC) said in its latest report. The overall gold demand stood at 910 tonnes…
Tag: economy
Beximco starts drug export to US from tomorrow
Beximco Pharmaceuticals Limited (BPL) is going to export medicines to the United States from tomorrow as part of its initiative to focus its presence in many emerging and developing markets in the world. Marking the occasion, BPL will organise a…
British retail tycoon hits back at MP’s ‘abuse’
The billionaire owner of the Topshop clothing chain on Saturday accused a leading British MP of running a “kangaroo court” after the tycoon was slammed over the collapse of department store chain BHS. Philip Green wrote a letter to Frank…
Twitter shares dive after update disappoints
Twitter’s shares fell hard Tuesday after its quarterly update showed more losses for the struggling social media platform, which has seen sluggish growth in revenues and active users. Shares were down nearly 11 percent at $16.45 in after-hours trade following…
Hyundai Motor Q2 profit hit by slow emerging market sales
Currency swings and slumping sales in emerging markets took a further toll on South Korea’s Hyundai Motor, which reported Tuesday a drop in net profit for the 10th consecutive quarter. Hyundai—along with its smaller affiliate Kia—forms the world’s fifth-largest automaking…
Oil prices down as Turkey fears ease, glut woes return
Oil prices extended their decline in Asia Tuesday as the global glut returned to focus, while worries about the effects of Turkey’s coup on shipments also eased. Turkey is a strategic conduit for shipments from Russia and Iraq to the…
Hong Kong shares start week flat
Hong Kong stocks started the week on a muted note Monday, opening marginally lower after clocking up five days of healthy gains. The Hang Seng Index edged down 5.87 points to 21,653.38. And the benchmark Shanghai Composite Index retreated 0.22…
Bad year for Wall Street’s Golden Boy Ackman
For a Wall Street star once dubbed the “Baby Buffett,” Bill Ackman is having a pretty bad year. Huge bets on companies like Valeant and Herbalife have delivered steep losses to the flamboyant billionaire’s Pershing Square hedge fund. With some…
ADB to fund $275 million for safe water supply in Dhaka
The government will sign a $275 million agreement with the Asian Development Bank (ADB) next week to fund a project for ensuring supply of safe drinking water in the capital city. ERD Senior Secretary Mohammad Mejbahuddin and ADB Country Director…
China inflation eases in June: govt
China’s consumer price growth slowed in June, the National Bureau of Statistics (NBS) said Sunday, giving the central government room for further monetary stimulus to stabilise economic growth. The consumer price index (CPI) — a main gauge of inflation —…
Prof. M. Kabir wins IDB Prize on Islamic economics, banking
Dr. M. Kabir Hassan, professor of the Department of Economics and Finance at the University of New Orleans, Louisiana, USA, has been honored with the prestigious Islamic Development Bank (IDB) Prize for his outstanding merit in the fields of Islamic…
Budget deliberately ambitious: Muhith
Admitting that the Tk 3.40 lakh crore budget for the fiscal year 2016-17 is deliberately ambitious, Finance Minister AMA Muhith on Friday said the revenue target will be achieved through enhancing the efficiency of the National Board of Revenue (NBR).…
BoE governor defends Brexit recession warning
Bank of England governor Mark Carney has defended his intervention in the debate over the UK’s membership of the European Union. Mr Carney warned on Thursday that a UK vote to leave could cause a recession – sparking calls for…
Yunus links rule of law and poverty eradication, joins EDLO
Rome – “The underlying issues that the poor face in the finance sector can teach us valuable lessons for the justice sector: in many places, the law serves only the people who can afford it,” said Professor Muhammad Yunus, who…
BD actively considering TFA ratification: ICCB
Bangladesh is ‘actively considering’ to ratify the Trade Facilitation Agreement (TFA) to allow an easy flow of goods and lowering the costs of doing business across borders. “In order to become middle income country by 2021, Bangladesh has to ensure…
Highest in tax payment, yet under NBR scanner!
The National Board of Revenue (NBR) has prepared a list of 50 highest taxpayers in its each tax zone and deeply monitor whether they properly paid taxes or not. “We have already started the process,” a senior NBR official told…
Cargo owners call off strike
The cargo owners who went on an indefinite strike demanding rational fixation of workers minimum wage withdrew their strike on Monday upon the government’s assurance of meeting their demand. “As Shipping Minister Shajahan Khan have assured us that a committee,…
Increased BD apparel exports can create more jobs: WB reports
Increased appeal exports could create more and better jobs in Bangladesh if the country makes improvement in productivity and product quality by enforcing a better safety condition and other compliance policies, said a World Bank report. The report, released on…
Bangladesh Bank to face action: Muhith
Finance minister Abul Mal Abdul Muhith on Sunday said the ministry will take actions against the Bangladesh Bank for not informing the government about the $101 million cyber heist.”The central bank has showed audacity as it didn’t timely inform the…
BD needs to formulate Deltaplan for sustainable development:Experts
As the country is already facing adverse impact of climate change, Bangladesh Delta Plan should be prepared incorporating science-based knowledge and authentic data to ensure sustainable development, water and development experts told a roundtable here today.
Beijing overtakes New York as Billioniare capital of the world
By VICE News China now has more billionaires than the United States, according to a new global rich list, and Beijing has overtaken New York as the billionaire capital of the world. Hurun, a firm which tracks wealth in China…
Saudi oil minister to face rival US producers
This week, Saudi oil minister Ali Al-Naimi will for the first time face the victims of his decision to keep oil pumps flowing despite a global glut: US shale oil producers struggling to survive the worst price crash in years.While…
Cautious Optimism For 2016 Global Economy At Davos
Despite significant market turbulence in the beginning of this year, there are reasons to remain cautiously optimistic about the trajectory of the global economy throughout 2016 and beyond. This was the consensus of panellists at the World Economic Forum Annual…
Winter Press briefing by CPB on economy of the country
If petroleum price is cut by 10 percent, the country’s GDP will go up by 0.3 percent, estimates the Centre for Policy Dialogue (CPD), a civil society think tank.
Bangladesh’s rising forex reserves is a ‘pleasant problem’
Bangladesh Bank Governor Atiur Rahman says the foreign exchange reserves crossing the $27 billion mark is a ‘pleasant problem’.“Many countries face deficit. But we are in a nice problem…a problem of surplus. It’s very pleasing news,” he said. The foreign…
WB chief economist says BD economic progress as astonishing
The Word Bank’s Chief Economist Kaushik Basu has described Bangladesh’s economic progress as astonishing. He said it was difficult to feel the same way 10 years ago about Bangladesh, which is now in the top league of nations with high…
China, Japan and South Korea committed policies to support global growth
Central bankers and finance ministers from China, Japan and South Korea said on Sunday they remained committed to policies to support demand in the face of moderate and uneven global growth.
Econ Achievements look fragile: CPD
Dhaka – The declining private sector investment appears to be the potential risk for the economy in the coming months making the projected 7.2 percent economic growth unachievable in the current fiscal, said a civil society think thank on Saturday.