UK clothing retailer sued over dues

Four local garment exporters have filed a case against British clothing retailer Edinburgh Woolen Mill (EWM) claiming Tk 5.98 crore in payments for goods they had shipped.
10 April 2022, 18:00 PM

Canada jobless rate drops to record low

Canada’s unemployment rate fell to the lowest on record in March as job gains continued throughout the economy, Statistics Canada announced on Friday.
9 April 2022, 18:00 PM

Clock ticks down towards a Russian default

Russia faces its first sovereign external default in over a century after it made arrangements to make an international bond repayment in roubles earlier this week, even though the payment was due in US dollars.
9 April 2022, 18:00 PM

Chip crisis to last until 2024

Semiconductor chip supply is unlikely to be enough to completely satisfy demand again until 2024, Volkswagen Chief Financial Officer (CFO) Arno Antlitz said in an interview with German daily Boersen-Zeitung on Saturday.
9 April 2022, 18:00 PM

Sri Lanka needs $3b to stave off crisis

Sri Lanka will need about $3 billion in external assistance within the next six months to help restore supplies of essential items, including fuel and medicines, to manage a severe economic crisis, its finance minister told Reuters on Saturday.
9 April 2022, 18:00 PM

Russian inflation tops 16pc

Russia’s inflation rate reached 16.7 per cent year-on-year in March, the state statistics agency said Friday, a level not seen since 2015, while food prices have risen even more steeply.
9 April 2022, 18:00 PM

Dollar holds near 2-year highs

The dollar hovered near two-year highs against a basket of major currencies on Thursday after meeting minutes showed the Federal Reserve preparing to move aggressively to fight inflation, while commodity currencies fell further from recent peaks.
7 April 2022, 18:00 PM

EU’s full ban on Russian coal to be pushed back

European Union envoys are set to approve on Thursday a ban on Russian coal that would take full effect from mid-August, a month later than initially proposed, an EU source told Reuters, following pressure from Germany to delay the measure.
7 April 2022, 18:00 PM

Oil rises from 3-week low

Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, as worries over tight supplies still clouded the market outlook.
7 April 2022, 18:00 PM

Lankan president asks experts to plan debt restructure

Sri Lanka’s beleaguered president has appointed an expert panel to organise a debt restructure to claw the country out of a crippling economic crisis that has sparked huge protests demanding his resignation.
7 April 2022, 18:00 PM

Ukraine war batters British fish and chips

They have weathered the storm of Brexit and Covid, and are fighting the tide of rising inflation. But thousands of Britain’s fish and chip shops could be sunk by the war in Ukraine.
6 April 2022, 18:00 PM

Egypt’s wheat imports from Russia rise

Egypt, often the world’s top wheat buyer, saw a rise in imports of the grain from Russia in March despite supply and payment disruptions following its invasion of Ukraine that also drove traders to seek shipments from other suppliers.
6 April 2022, 18:00 PM

ADB trims Asia growth forecast

The Asian Development Bank trimmed its 2022 growth forecast for developing Asia Wednesday as  “increasing” price pressures after Russia’s invasion of Ukraine threaten a recovery from Omicron surges.
6 April 2022, 18:00 PM

Oil output back to pre-sanctions level: Iran

Iran’s oil production capacity has returned to the same level as prior to the reimposition of sanctions in 2018, when the US unilaterally withdrew from a nuclear deal, a top official said.
5 April 2022, 18:00 PM

Airbnb suspends operations in Russia

Home rental company Airbnb Inc said late on Monday it had suspended operations in Russia and Belarus.
5 April 2022, 18:00 PM

Oil price rises to $108

Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns of tighter global supply, while Iran’s nuclear talks with world powers stalled.
5 April 2022, 18:00 PM

What impact would a Russian debt default have?

Russia has managed to avoid defaulting on its international debt so far despite unprecedented Western sanctions. But the task is getting harder and Moscow’s threats to cut Europe’s gas supply seems to be upping the ante further.
5 April 2022, 18:00 PM

War won’t cause recession: EU

The European economy is set to suffer a sharp slowdown due to the war in Ukraine, but should avoid stumbling into recession, top EU officials said on Monday.
5 April 2022, 18:00 PM

Paying in roubles an option, country needs gas

The economy minister of Slovakia, which relies on Russian gas for around 85 per cent of its demand, said the country could not be cut off from Russian gas flows and if it had to pay in roubles it would, although it backed taking a common European Union stance.
4 April 2022, 18:00 PM

Oil slips below $104

Oil slipped on Monday in volatile trading as the release of strategic reserves by consuming nations eased concerns over tight supply amid Russia’s invasion of Ukraine and the lack of an Iranian nuclear deal.
4 April 2022, 18:00 PM