News

For foreign companies still working out what to do with their stranded Russian assets, President Vladimir Putin’s seizure of a major oil and gas project is a powerful warning: Move fast or else. Companies have been wrestling with how to exit in ways that limit the financial impact, do not …

The government could pay additional incentives to the exporters of non-cotton apparel items in order to help them offset the severe impacts of the Russia-Ukraine war on the shipment of garment items. A file from the commerce ministry was sent to the finance ministry a few days ago, recommending at …

Local technology company Reve Chat is now facilitating access to information for citizens of Mexico while protecting their personal data with its AI-enabled chatbot, underscoring the Bangladesh tech industry’s growing clout in the global markets. Reve Chat developed Cavinai for the National Institute of Transparency, Access to Information and Protection …

The euro flattened on Monday, staying near a five-year low against the US dollar, as investors sought safety in the greenback amid worries about slowing global growth. The war in Ukraine and its economic fallout, in particular soaring food and energy inflation, has been a major drag on the euro, …

Bangladesh’s trade deficit hit a historic high of $30.81 billion in the first 11 months of the 2021-22 fiscal year, intensifying the pressure on the macroeconomic zone. The country has been facing the higher trade deficit in recent months due to the escalation of imports against lower exports. Trade deficit …

The National Board of Revenue (NBR) yesterday extended the opportunity for edible oil refiners to import and refine the essential commodity by paying only 5 per cent value added tax (VAT) at the import stage until September 30 this year. The NBR also extended the VAT exemption at the production …

Two leading economists of the country today said that the Padma Bridge, inaugurated today by Prime Minister Sheikh Hasina, would put a multidimensional impact on the country’s economy alongside simplification of the communication system. They said with the inauguration of the bridge, the communication to and from Dhaka would be …

The price of rice and flour on the market has been rising for the last few weeks, as well as other essentials like eggs, poultry, and vegetables with no let up in sight. According to the state-owned Trading Corporation of Bangladesh (TCB), the price of finer variants of rice (miniket/nazir) …

Business is not a bed of roses for Bulgaria’s rose oil makers these days. Made from Damask roses grown in the aptly named Rose Valley, the oil is a vital ingredient in the perfumes made by the world’s top luxury brands such as Christian Dior, Estee Lauder and Chanel. But …

Russian President Vladimir Putin said on Wednesday that banks from BRICS nations can freely connect to the System for Transfer of Financial Messages (SPFS), Russia’s alternative to SWIFT. While addressing a BRICS business forum, Putin said that together with its partners – Brazil, India, China and South Africa – Moscow …