Monday, 27 Mar, 2023


Pakistan's inflation soars to 47% fueled by high food prices

Crisis-hit Pakistan recorded a new high in inflation based on sensitive price indicator (SPI) as it went to around 47% year on year (YoY) the week ended March 22, 2023, according to Pakistan Bureau of Statistics (PBS) data. This came following a continued hike in prices of essential

Russia reveals its gold stash after it adds 1 million ounces

Russia bought one million ounces (31 tonnes) of gold after its invasion of Ukraine. Following a pause in reporting, Russia shed some light on how much gold it purchased over the past year. As of March 2023, Russia's central bank holds 74.9 million ounces of gold worth $135.6

Oil prices drop amid profit-taking

Oil prices declined on Thursday, snapping a three-day winning streak, Trend reports citing Xinhua. The West Texas Intermediate for May delivery dropped 94 cents, or 1.33 percent, to settle at 69.96 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery

Japan inflation slows to 3.1% in Feb, food prices jump

Japan's core consumer prices rose 3.1 percent in February from a year earlier, slowing from a four-decade high as government subsidies on utility bills curbed inflationary pressure while surging food prices threaten to dampen household sentiment, government data showed Friday. The

Gold price rise again

The gold price in the local market has jumped by Tk 1,166 to record Tk 97,627 per bhori. Standing committee on pricing and price monitoring of Bangladesh Jeweller’s Association (BAJUS) made the decision at a meeting held on Thursday (March 23). The price of 22-carat gold is

Broiler chicken price to be reduced by Tk 40 during Ramadan

Farm owners today (March 23) assured that the broiler chicken would be sold from the farms at Tk 190-195 per kg during the month of Ramadan.  Director General of Directorate of National Consumers Right Protection (DNCRP) AHM Shafiquzzaman said this on Thursday (March 23). He

Bangladesh Bank to sell 25kg gold through auction

The Bangladesh Bank has decided to sell 25 kilograms of gold in an auction. A notification in this regard will soon be issued. According to the central bank sources, interested certified gold traders can participate in this auction. The gold recovered during smuggling is

US raises interest rates despite banking turmoil

The US central bank has raised interest rates again, despite fears that the move could add to financial turmoil after a string of bank failures. The Federal Reserve increased its key rate by 0.25 percentage points, calling the banking system "sound and resilient". But it

Gold price falls by Tk1,167 per bhori

Bangladesh Jewelers Association (Bajus) has decided to reduce the price of gold by Tk 1,167 to Tk96,461 per bhori. With the new rate effective from Thursday (March 23), according to a BAJUS release Earlier on March 21, Bajus decided to reduce the price of gold by Tk 1,166 to

Bangladesh, Bhutan sign agreement on transit

Bangladesh and Bhutan today (Mar 22) signed the "Agreement on movement of traffic-in-transit and protocol" at Thimpu, the capital of Bhutan, to ease further bilateral trade between the two countries. Commerce Minister Tipu Munshi and Bhutanese Minister, Ministry of Industry,

Record high prices to weigh on demand for gold

The demand for gold is expected to take a hit if the price of the yellow metal which has been hovering around 60,000, a level never seen before - remains elevated. Due to a sharp increase in price in a very short time and the flow of smuggled gold continuing, gold price in Mumbai is

Gold fails to glitter but metal producers can act as precious buffer in times of stress

This column’s record with gold miners is chequered at best, dreadful at worst, showing that even sitting on a gold mine is no guarantee of riches. Last week’s full-year results for 2022 from Centamin did not particularly shine, and nor did guidance for 2023, but there may

Gold prices drop by Tk1,166 per bhori

Bangladesh Jewelers Association (Bajus) has decided to reduce the price of gold by Tk 1,166 to Tk97,628 per bhori.  With the new rate effective from Wednesday (March 22), according to a BAJUS release. Earlier on March 18, the gold price in the local market jumped by Tk 7,698 to

Country to export “Made in Bangladesh” gold under BAJUS President leadership

The country’s jewellery sector has been revamped due to pragmatic steps taken by Bangladesh Jewellers Association (BAJUS) President Sayem Sobhan Anvir. Enamul Haque Khan Dolan, former president of BAJUS, was addressing a view exchange meeting with Narsingdi unit leaders and

UBS agrees 'emergency rescue' of Credit Suisse

Troubled bank Credit Suisse has been rescued by its Swiss rival UBS in a government-backed deal. Sunday's announcement came after a weekend of emergency talks in Switzerland between the two banks and the country's financial regulators. The Swiss National Bank said the deal

Bashundhara LP Gas Ltd holds regional sales conference

Regional Sales Conference of Bashundhara LP Gas Limited was held at Momo Inn Hotel, Bogura on Sunday (Mar 19).    MM Jasim Uddin, Chief Operating Officer of Sales and Marketing of Bashundhara LP Gas, inaugurated the event. He welcomed everyone and highlighted the success of

Gold price hits record high in India

MCX (Multi Commodity Exchange) Gold futures hit lifetime highs on Friday on the intraday (Rs 59,461) and closing basis at Rs 59,420 per 10 gram. The April futures settled up by Rs 1,414 or 2.44% from the Thursday closing price. Meanwhile, May Silver futures rallied over 3% and gained Rs

Swiss UBS bank 'in Credit Suisse takeover talks'

Switzerland's biggest bank, UBS, is reported to be in advanced talks to buy all or part of its troubled rival Credit Suisse. Shares in Credit Suisse have fallen sharply in recent days after it said it had found "material weakness" in its financial reporting. An

Gold jumped by Tk 7,698 per bhori

The gold price in the local market has jumped by Tk 7,698 to record Tk 98,794 per bhori (11.664 grams) with effect from Sunday. The price of 22-carat gold is now Tk 8,470 per gram, while it is Tk 8,085 for 21-carat gold, according to a press release issued by Bangladesh

Gold price climbs to life-time high on bank crisis in US. Sell, hold or buy?

On account of bank crisis in US, gold price climbed to life-time high of ₹59,461 per 10 gm on MCX, bettering previous high of ₹58,847 per 10 gm during the Friday session.  The yellow metal price finished ₹1,414 per 10 gm higher at ₹59,420 levels on the weekend session,