Regional & International Economy

Moscow, Tehran and Baku have signed a memorandum on facilitating the transit of goods, the Russian trade mission in Iran announced in a statement published on its Telegram channel on Monday. “A memorandum between Russia, Iran and Azerbaijan on the facilitation of transit transportation was signed in Tehran on August …

Oil prices were little changed on Wednesday as the market grappled with supply concerns amid the sanctioning of Russian shipments and the initial shock of comments that major producers would cut output wore off. Brent crude futures for October settlement were down 6 cents, or 0.06 per cent, to $100.16 …

The Covid-19 pandemic has set back the fight against poverty in Asia and the Pacific by at least 2 years, and many in the region will likely find it harder than before to escape poverty, according to a report from the Asian Development Bank (ADB). The region’s economic growth this …

Prime Minister Sheikh Hasina offered land on Monday to Qatar in the special economic zones being set up across Bangladesh alongside seeking more help from the gulf country in the energy sector, particularly in LNG import. “Bangladesh is setting up 100 special economic zones. Qatar can take land in the …

Mango production has increased by around six lakh tonnes amid promotion of high yielding varieties and modern technologies in the region, including its vast Barind tract, during the last one decade. Experts opined the enhanced yield has created a new dimension in the field of infusing dynamism into the local …

The World Bank has already committed to providing $15 billion or nearly Tk 1.38 trillion in loans for 55 ongoing projects in Bangladesh, its outgoing Country Director Mercy Tembon has informed. Tembon said this in a farewell meeting with Planning Minister MA Mannan on Monday. They also discussed different aspects …

Inflation may take a while to bring under control, said experts on Sunday. Moreover, how long it will last or at what level the rate of inflation will stop entirely depends on the Russia-Ukraine war and the international market situation, they added. They were speaking at a discussion “New challenges …

The Financial Reporting Council (FRC) has lodged a complaint to the authorities concerned that some accounting bodies of the government were bypassing it when preparing laws, rules, and standards. Established in 2017 to regulate auditors, chartered accountants, cost accountants and actuaries in the country, the FRC also requested the authorities …

Oil prices slumped on Monday, ending three days of gains, as investors were concerned aggressive US interest rate hikes will weaken the global economy and dent fuel demand while a strengthening dollar also added to pressure. Brent crude futures for October settlement declined $1.20, or 1.2 per cent, to $95.52 …

Bangladesh’s payment ecosystem is poised to leapfrog to become a very large substantial payment market within the South Asia and Asia Pacific region in the next few years, said Vikas Varma, chief operating officer for South Asia at Mastercard. “The signs of economic growth and prosperity, especially in urban areas, …