Experts call for enabling environment

An enabling environment for women entrepreneurs in cottage, micro, small and medium enterprises (CMSMEs) is essential for ensuring sustainable progress in Bangladesh’s economic development, according to various experts.
8 March 2022, 18:00 PM

What would a US ban on Russian oil mean for the world?

The possibility that the United States might ban Russian oil imports has triggered a surge in Brent crude to almost $140 a barrel, its highest level since 2008.
8 March 2022, 18:00 PM

WB approves extra $489m for Ukraine

The World Bank on Monday approved an additional $489-million package in support for Ukraine, to be made available immediately and dubbed  “Financing of Recovery from Economic Emergency in Ukraine.”
8 March 2022, 18:00 PM

Ban on Russian oil import to double price to $300

A Western ban on Russian oil imports may more than double the price to $300 a barrel and prompt the closure of the main gas pipeline to Germany, Moscow warned on Monday, as talks on Ukraine hardly advanced amid efforts to agree on civilian safe passage.
8 March 2022, 18:00 PM

Uniqlo stays put in Russia; Netflix, Amex sever ties

Uniqlo owner Fast Retailing will keep its stores in Russia open, joining a small group of international firms that have stayed put even as dozens of big brands pause operations or exit the country over its invasion of Ukraine.
7 March 2022, 18:00 PM

China exports up as trade with Russia surges

Chinese exports in January and February rose a combined 16.3 per cent on surging global demand and a spike in trade with Russia in the run-up to the war in Ukraine, according to customs data released on Monday.
7 March 2022, 18:00 PM

Wheat price hits 14-year highs

Chicago wheat futures rose by more than 6 per cent on Monday to 14-year highs on concern global supplies will be disrupted until the Russia-Ukraine conflict is resolved.
7 March 2022, 18:00 PM

Russian rouble plunges to record low

Russia’s rouble tumbled to a fresh record low in thin offshore trade on Monday, with local markets closed for trading until at least Wednesday.
7 March 2022, 18:00 PM

Oil price spikes to $139

Oil prices spiked to their highest levels since 2008 yesterday amid  market supply fears as the United States and European allies considered  banning Russian oil imports and prospects for a swift return of Iranian  crude to global markets receded.
7 March 2022, 18:00 PM

Russia scrambles to contain sanctions fallout

Black market fears, problems with online payments and the looming spectre of inflation -- Russian officials are scrambling to deal with the effects of sanctions imposed on Russia over its military intervention in Ukraine.
7 March 2022, 18:00 PM

German industrial orders rise

Incoming orders to German industry increased again in January, official figures published Monday showed, as the government warned of economic disruption from the war in Ukraine.
7 March 2022, 18:00 PM

Gold above $2,000

Gold climbed to its highest in one-and-half years on Monday and palladium hit an all-time high on safe-haven asset appeal, while nickel soared over 20 per cent on fears of supply disruptions tied to sanctions on Russia and continued fighting in Ukraine.
7 March 2022, 18:00 PM

Global oil price highest since 2008

Oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning imports of Russian oil.
7 March 2022, 07:33 AM

Russia to let banks cut back reporting results

Russia’s central bank announced Sunday it was allowing lenders in the country to reduce the frequency of their financial disclosures, a measure it said was necessary to mitigate sanctions fallout.
6 March 2022, 18:00 PM

Russian shops to limit food sales to counter black market

Retailers in Russia will limit sales of essential foodstuffs to limit black market speculation and ensure affordability, the government said Sunday, as sanctions imposed over Moscow’s military incursion into Ukraine began to bite.
6 March 2022, 18:00 PM

War in Ukraine will have severe impact on global economy: IMF

The International Monetary Fund on Saturday said it expected to bring Ukraine’s request for $1.4 billion in emergency financing to its board for approval as early as next week and was in talks about funding options with authorities in neighboring Moldova.
6 March 2022, 18:00 PM

Global banks face costly, arduous process to exit Russia

Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions over whether they should withdraw.
6 March 2022, 18:00 PM

Exports to Russia, Ukraine hit snag

Russia and Ukraine-bound exports, especially garments, are now faced with an uncertain future as shipping lines are understandably not too eager to carry goods to war zones.
6 March 2022, 18:00 PM

Several Russian banks to start issuing cards using Chinese UnionPay

Several Russian banks said on Sunday they would soon start issuing cards using the Chinese UnionPay card operator's system coupled with Russia's own Mir network, after Visa and MasterCard said they were suspending operations in Russia.
6 March 2022, 10:18 AM

Food prices jump 24pc to hit record high

World food prices hit a record high in February, led by a surge in vegetable oils and dairy products, to post a 24.1  per cent increase year-on-year, the UN food agency said on Friday.
5 March 2022, 18:00 PM