Friday, 12 Aug, 2022

Business

India wants to open up lithium mining in quest for batteries

India is seeking to change laws to allow private miners to extract lithium, the key ingredient for batteries used for electric vehicles and energy storage, as the nation aims to be more self-sufficient in green technologies. Prime Minister Narendra Modi’s government wants

Dollar devalued against Taka in kerb market

The dollar price fell slightly in the kerb market against Taka by three to four compared to the previous day. As per today's rate, one dollar was sold between Tk 107.50 and Tk 108.80. This information was reported from the money changers and open market in Dhaka on Wednesday

BB asks banks to reduce power, fuel use

Bangladesh Bank (BB) has asked banks to reduce the use of electricity and fuel till next June.  According to the central bank, banks have to reduce the consumption of gas and lubricant by 20 percent and electricity by 25 percent in the next one year starting from July this

Bangladesh receives 1.64 billion dollar remittance till July 21

Bangladesh received US $1642.75 million (1.64 billion) inward remittance till July 21, according to data from Bangladesh Bank.  It means, on average, the expatriates sent $78.22 million in remittance to the country during July 01-21, the opening month of the fiscal year 2022-23.

Savings certificate: Tax return proof a must to invest more than Tk 5 lakh 

The government has made the submission of income tax return proof mandatory for investing more than Tk5 lakh taka in savings certificate and opening an account in post office savings bank. The information came from a circular sent from Debt Management Division of the Bangladesh Bank to

Taka devalued further against dollar

In the open market, Taka devalued further against the dollar. One dollar is now being sold at a rate of Tk 104. On Sunday (July 24), Dhaka's money exchangers and traders sold US dollars between Tk 103 and 50 paisa to Tk 104. Officials of the money exchanger companies said that

Mobile Phone Is Asia’s Hedge Against Dollar

Currency values fluctuate all the time, but some changes leave a lasting impression on the banking industry. In the Bretton Woods-era of fixed exchange rates, the 1967 devaluation of the British pound was one such seminal event. It made demand for dollars explode in Asia. Out of that

Ukraine grain export deal to be signed in Istanbul on Friday

An agreement to restart grain shipments from Ukraine is set to be signed in Istanbul on Friday, Türkiye’s Communications Directorate has said. Turkish President Recep Tayyip Erdogan and UN chief Antonio Guterres will attend the ceremony at the Dolmabahce Presidential Office,

Key Russian pipeline resumes pumping gas to Europe

Russia has resumed pumping gas to Europe through its biggest pipeline after warnings it could curb or halt supplies altogether. The Nord Stream 1 pipeline restarted following a 10-day maintenance break but at a reduced level. On Wednesday, the European Commission urged countries to

Soybean oil now Tk 185 per liter

Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association earlier announced to reduce the price of bottled soybean by Tk 14 to 185 per liter.  The refiners implemented this decision this morning.  A press release signed by Nurul Islam, The executive officer

Govt to procure 50000 tons wheat, 30000 tons fertilizer

The government today (July 20) approved separate proposals for procuring some 50,000 metric tons of wheat and some 30,000 metric tons of granular urea fertilizer to meet the growing demand of the country. The approvals came from the 21st meeting of the Cabinet Committee on Government

Bangladesh sets $58b export target for FY23

Commerce Minister Tipu Munshi on Wednesday (July 20) said the government fixed the merchandise export target for the current fiscal year (2022-23) at $58 billion which is 11.36 percent higher than the real export earnings of the last fiscal year (2021-22). The export target from the

Netflix loses almost a million subscribers

After enjoying a long reign as the king of streaming, Netflix faces a tough fight to keep its crown. It lost almost 1m subscribers between April and July, as the number of people quitting the service accelerated. But that was not as many as the streaming giant had feared. Asked

Sri Lanka crisis a warning to Bangladesh, other Asian nations: IMF

Sri Lanka is in the midst of a deep and unprecedented economic crisis that has sparked huge protests and seen its president quit after fleeing the country - but other countries could be at risk of similar troubles, according to the head of the International Monetary Fund (IMF).

Gold price drops by Tk 1,166 per bhori: BAJUS

The country’s jewellers authority has lowered the price of gold by Tk 1,166.4 to Tk 77,216 per bhori (11.664 grams) in the domestic market. Bangladesh Jeweller’s Association (BAJUS) issued a press release announcing the new price on Sunday (July 17) following fall in gold

Soybean oil price drops by Tk 14 per liter

The government has reduced the price of bottled soybean oil by Tk 14 per liter to Tk 185. Commerce Ministry Senior Secretary Tapan Kanti Gosh said that the government took the decision to reduce prices of edible oil in domestic market in line with the reduction of prices in the

3 telecom fined for illegal VoIP: BTRC

The country's three private mobile phone operators have paid Taka 2,78,25,000 as administrative fines due to the use of their SIMs in illegal VoIP. The telecom regulator, Bangladesh Telecommunication Regulatory Commission (BTRC), has imposed a financial penalty on the operators for

Uber sued by 550 women over sexual assault claims

Uber is being sued in the US by 550 women who were allegedly assaulted by drivers on the ride-hailing platform. The filing includes allegations women passengers "were kidnapped, sexually assaulted, sexually battered, raped, falsely imprisoned, stalked, harassed, or otherwise

Twitter sues Elon Musk over $44bn takeover deal

Twitter has taken billionaire Elon Musk to court to try to force him to buy the social media firm, setting up a legal battle with the world's richest man. It comes after Mr Musk announced he was walking away from his proposed $44bn (£37bn) takeover of Twitter on Friday. He

Rupee Collapses To 79.60, A Record Low Close On Dollar's Broad

The rupee collapsed to close provisionally at 79.60 against the greenback as the safe-haven stampede into dollar-denominated assets brushed aside almost every other currency, including the euro, which was on the brink of parity with the US currency for the first time since 2002. PTI