Current News

Oil prices slumped anew on Friday with Brent North Sea crude plumbing a 17-year low owing to massive oversupply as the coronavirus crisis paralyses global demand.

The rapid spread of the coronavirus since it was first reported in China has dealt an unprecedented shock to the global economy. Here’s a look at developments Tuesday as central banks, businesses and workers attempt to navigate a global outbreak that has brought economic activity to a standstill.

Dhaka Chamber of Commerce and Industry (DCCI) has urged the government to bring together its global allies and partners in a coordinated endeavour in a bid to protect the people and economy from the adverse impact of coronavirus.

The global economy is expected to contract 1.5 per cent in 2020 amid the ongoing COVID-19 outbreak, according to the forecast released by the Institute of International Finance (IIF) on Monday.

The apprehension of a potential lockdown to rein in the coronavirus spread has led to the stockpiling of some essential commodities but businesses said there was nothing to be worried about.

Shares in Asia have continued a global rally, as stock markets bounce back from major losses in recent days.

Will they or won’t they? On top of the massive economic damage, the coronavirus pandemic now is casting doubt over the pending merger between PSA Group and Fiat Chrysler (FCA), financial sources told AFP.

US President Donald Trump praised Federal Reserve Chairman Jerome Powell on Monday, ending his criticism of the central bank chief while also calling the strong dollar “good,” an unusual comment.

Financial markets in Europe and the US have continued to fall despite fresh action by the Federal Reserve to support the American economy.

The Bangladesh Bank on Monday reduced the mandatory cash reserve ratio for the banks to 5 per cent from 5.5 per cent with a view to supply liquidity to the market during the coronavirus pandemic, said a BB circular issued on the day.