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Oil prices hit their highest levels in more than seven years Tuesday, driven in part by hopes of a global economic recovery that would ramp up demand. Stock markets however headed south, with US Treasury yields surging on expectations the Federal Reserve will have to unveil several interest rate hikes …

Consumers have been paying increased prices to buy edible oil, the essential commodity for preparing foods, over the last couple of days even though the commerce ministry yesterday said prices would not increase in the next two weeks. Yesterday, retail prices of loose soybean oil were at Tk 145 to …

Businessmen yesterday expressed worries over the energy companies’ latest proposal to raise gas prices, as they believe another hike now will increase the cost of production and ultimately slow down the economic revival amid the ongoing pandemic. The industries will lose competitiveness if the cost of production is raised at …

Bangladesh has beat its record in tea production as a total of 96.50 million kilogrammes (kgs) of the plant were produced by 167 farms across the country last year. This is the highest annual yield on record, eclipsing 2020’s harvest by a good 10.111 million kgs, according to officials of …

With the goal of attracting local and foreign investment to modernise and reopen closed textile mills, the government has called for open international tenders for four out of 16 textile mills through public-private partnerships (PPP). The move comes after the Bangladesh Textile Mills Corporation (BTMC) initiated a process of handing …

Bangladesh Bank (BB) has fixed banks’ single borrower and large exposure lending limit to within 25 percent of its capital. The central bank issued the policy with a view to strengthening credit risk management of banks by limiting concentrated exposures and further improving the stability of the banking sector. It …

Three out of the country’s four mobile phone operators have failed to provide their customers with the minimum 4G internet speed in the Rangpur division, according to a Bangladesh Telecommunication Regulatory Commission survey. The BTRC survey conducted between October 7 and October 20 in 2021 detected the deviation of the …

Leaders of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have sought government support in addressing RMG sector’s challenges. Leaders of BGMEA headed by President Faruque Hassan met with M. Tofazzel Hossain Miah, Senior Secretary at the Prime Minister’s Office in Dhaka on Sunday and discussed the relevant issues, said the …

The government has no plan to hike edible oil prices in the next 15 days as further review of the prices is needed, Commerce Minister Tipu Munshi said today. Munshi said this at a press conference after a meeting with millers, refiners, wholesalers and importers of edible oil at his …

The point-to-point inflation in December 2021 hit 13-months high at 6.05 per cent as the raise in diesel and kerosene prices continued to push up the prices of non-food items, officials said on Tuesday. In October 2020, the general inflation was recorded 6.44 per cent by the Bangladesh Bureau of …