Regional & International Economy

Dhaka Chamber of Commerce and Industry (DCCI) has proposed utilising state-owned commercial banks (SOBs) to disburse stimulus funds particularly for micro, small and medium enterprises (MSMEs).

The oil market, rocked by crisis this week as prices plunged below zero on rampant oversupply and demand-destroying coronavirus, faces the critical problem of where to store surplus crude.

Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.

The Rome government sees Italy’s debt-to-GDP ratio surging to between 155 per cent and 159 per cent of national output this year, sources close to the matter told Reuters, as it increases borrowing to mitigate the impact of a lockdown to fight the new coronavirus.

The price of a barrel of Brent Crude – the UK benchmark for oil – has slipped below $20, its lowest level since 2002.

Finance Minister AHM Mustafa Kamal has sought $1.0 billion budget support in the next fiscal year (FY21) in addition to $500 million budget support in current fiscal to overcome the shock of novel coronavirus (COVID-19).

US crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.

Around 47% people had to cut their cost of consumption due to the fall in income

India has stepped up scrutiny of investments from companies based in neighbouring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak, reports Reuters.

Export earnings in March declined by 18.29 percent year on year to $2.73 billion due to a fall in shipment of apparels, according to data from the Export Promotion Bureau (EPB).