Regional & International Economy

Oil prices slipped back Wednesday after two days of gains, although Brent crude remained above $30 a barrel, as renewed US-China tensions offset optimism about the easing of coronavirus lockdowns.

President of the country’s apex trade organization FBCCI Sheikh Fazle Fahim on Monday said that they would remain involved in the working capital loan/investment disbursement process of the government-announced Tk 20,000 crore financial assistance package for cottage, micro, small and medium enterprise (CMSME) organisations.

Oil extended gains in Asia Tuesday on signs of improving demand as coronavirus-hit major economies begin to ease strict curbs and as top producers slash output.

Oil prices fell on Monday after strong gains last week, with continued concerns about oversupply and storage capacity due to a coronavirus-triggered demand shock overshadowing massive output cuts. US benchmark West Texas Intermediate fell about eight percent to trade at $18.19 a barrel.

Where does this end? The Bangladesh economy now stands to lose a staggering $13.3 billion for the coronavirus outbreak, according to the Asian Development Bank, which is more than four times the amount of damage the Manila-based multilateral lender had predicted back in March.

The Economist, the leading source of analysis on international business and world affairs, has placed Bangladesh as the 9th strongest economy in its report on the financial strength of 66 emerging economies in the wake of the Covid-19 attack.

Experts in a recent webinar suggested for introducing digital solutions in country’s pharmaceutical sector to enhance productivity of the sector.

More than 100 businesses in Japan have gone bankrupt during the novel coronavirus pandemic as plummeting tourist numbers and the ‘stay home’ campaign have hammered revenues, a research institute said.

Iraq’s oil revenues in April plummeted to under $1.5 billion, the oil ministry announced Friday, less than a fifth of hydrocarbon income earned in the same month last year.

Oil prices extended a rally Thursday after US data showed improving demand and stockpiles rising less than expected, in a boost for markets ravaged by the coronavirus pandemic.