The proposed construction of multilane road tunnel under the Karnaphuli River in Chittagong has taken a major step forward, as the Planning Commission outlined a project to this end with an estimated outlay of Tk 8,446.64 crore, reports UNB. Out of the total project cost, the government will provide…

AFP, PARIS: Growth in global demand for crude is set to slow next year as the allure of cheap oil fades, the International Energy Agency (IEA) said yesterday. The IEA now expects oil demand to grow by 1.2 million barrels per day (mbd) in 2016, after a five-year high of 1.8 mbd this year as cold weather…

The two-day Bangladesh Development Forum 2015, a high level flagship event of the Government of Bangladesh, begins tomorrow after a five-year gap where the vision of the government’s 7th Five-Year Plan would be placed before the development partners, reports UNB. Prime Minister Sheikh Hasina will…

Bangladesh is expected to outstrip China as the world’s largest importer of cotton this financial year, according to the Intercontinental Exchange (ICE), reports BSS. Available data shows that Bangladesh’s imports increased from 0.7 million metric tons in 2012 to 1.2 million metric tons…

AFP, ZURICH: The value of unregulated "shadow banking" rose to some $80 trillion (74 trillion euros) last year, according to a report Thursday by the Financial Stability Board (FSB), which advises G20 states on banking reform and oversees regulation of the global financial system. The report,…

AFP, LONDON: European stock markets fell yesterday, extending the previous session's heavy slides, as traders reacted to weak eurozone data and lingering…

AFP, WASHINGTON: The IMF's consideration of China's yuan for inclusion in its SDR(special drawing right)  basket of elite currencies is on…

AFP, MOSCOW: Russia's economy shrank 4.1 per cent in the third quarter this year, official statistics showed Thursday, as a recession caused by low oil prices and Western sanctions over Ukraine continued to take its toll. The preliminary figures released by state agency Rosstat represent a slight…

AFP, ATHENS: Greece's state statstics agency yesterday said the economy contracted by 0.5 per cent in the third quarter, when its EU partners threatened to throw the country out of the eurozone. In a flash estimate, the Elstat agency also revised figures for the second quarter downwards to 0.4 per…

AFP, SHANGHAI: China will double the deposit required for investors to borrow funds to trade stocks -- known as margin trading -- the Shanghai stock exchange said yesterday, as authorities seek to limit a practice that created a massive market bubble. Both the Shanghai and Shenzhen stock exchanges will…

AFP, NEW DELH: India's consumer prices rose five per cent in October, accelerating from a 4.41 per cent increase in September, the Statistics Ministry said Thursday, with economists saying imminent interest rate cuts are now unlikely. The retail inflation rate was driven higher by rising fuel and…