Consumption of palm oil on the rise

The consumption of palm oil in Bangladesh increased by 7 per cent in the last eight years to reach 13.5 lakh tonnes in 2021, according to findings revealed at a webinar.
2 February 2022, 18:00 PM

Sri Lanka gets $500m Indian loan to pay for oil

Sri Lanka was handed temporary relief from energy shortages and rolling blackouts on Wednesday with a $500 million loan from India to finance urgent oil purchases for the cash-strapped nation.
2 February 2022, 18:00 PM

Sri Lanka food inflation hits record 25pc

Food inflation in crisis-hit Sri Lanka hit a record 25 per cent in January, the statistics office said Tuesday, with crop failures and difficulties in financing imports leading to widespread shortages.
1 February 2022, 18:00 PM

Weak yen has merits and demerits

Japan’s top currency diplomat Masato Kanda said a weak yen has both merits and demerits for the economy due to the country’s changing export patterns and increasing reliance on imports.
1 February 2022, 18:00 PM

Mexico’s economy enters technical recession

Mexico’s economy contracted for a second straight quarter in the last three-month period of 2021, according to official data published on Monday, putting it in a technical recession and joining regional powerhouse Brazil, whose economy fell back into negative territory last year.
1 February 2022, 18:00 PM

Asian markets rise as traders buoyed by another Wall St rally

Asian markets rose in limited trade Tuesday following another strong lead from Wall Street fuelled by a rebound in tech firms, while comments from Federal Reserve officials eased concerns that it will embark on an aggressive phase of policy tightening.
1 February 2022, 18:00 PM

Japan’s factory output dips more than expected

Japan’s factory output shrank for the first time in three months in December as a decline in machinery production outweighed a small rise in autos, casting a cloud over the strength of the economic recovery.
31 January 2022, 18:00 PM

Fed could raise rates

The US Federal Reserve is not ruling out raising rates by half a percentage point if inflation remains high, Fed official Raphael Bostic said in an interview with the Financial Times.
31 January 2022, 18:00 PM

India sees GDP growth slowing to 8-8.5pc

India has forecast its economy will grow 8 per cent to 8.5 per cent for the fiscal year starting in April, down from 9.2 per cent projected in the current year, as it fights a spike in Covid-19 cases and rising inflationary pressure.
31 January 2022, 18:00 PM

Oil hovers near 7-year highs

Oil rose more than 1 per cent on Monday to the near 7-year highs hit in the previous session, while supply concerns and political tension in Eastern Europe and the Middle East put prices on track for their biggest monthly gain in almost a year.
31 January 2022, 18:00 PM

Eurozone economy rebounds in 2021 after recession

The eurozone economy posted robust growth last year, official data showed Monday, but fallout from the Omicron variant and an energy crunch have raised doubts about the bloc’s ability to sustain the pace.
31 January 2022, 18:00 PM

Prices of power-assisted bikes on rise in Japan

Prices are on the rise for power-assisted bicycles, which are becoming fixtures as a means of transportation in everyday life.
30 January 2022, 18:00 PM

Turkey to cut interest rates further

Turkish President Tayyip Erdogan repeated his unorthodox economic policy on Saturday, saying interest rates would be lowered further and inflation would fall as a result, days before inflation data for January is announced, adding the country’s economic woes would pass.
30 January 2022, 18:00 PM

China to beef up anti-monopoly efforts in pharma

China will toughen law enforcement to curb monopoly practices and unfair competition in the pharmaceutical industry as the government seeks to foster a good business environment, the industry ministry said on Sunday.
30 January 2022, 18:00 PM

Global gas rally to kickstart long-stalled US LNG projects

High global natural gas prices are breaking a two-year logjam of new US liquefied natural gas (LNG) projects with at least three of the multibillion-dollar proposals likely achieving enough supply contracts to start construction this year, said developers and industry experts.
30 January 2022, 18:00 PM

Omicron takes toll on UK business growth

British businesses grew at the slowest pace since April 2021 during the past three months, after demand for face-to-face services slumped due to the Omicron variant of coronavirus, the Confederation of British Industry said on Sunday.
30 January 2022, 18:00 PM

China factory activity growth slows

Growth in China’s factory activity slowed in January as a resurgence of Covid-19 cases and tough lockdowns hit production and demand, but the slight expansion offered some signs of resilience as the world’s second-largest economy enters a likely bumpy new year.
30 January 2022, 18:00 PM

Myanmar economy to remain weak: WB

Myanmar’s economy will remain critically weak for much of 2022 and will be “severely tested” by the impacts of a coup a year ago, but there are recent signs of stabilisation in manufacturing and exports, according to the World Bank.
29 January 2022, 18:00 PM

Goldman Sachs lifts CEO’s pay to $35m

Goldman Sachs Chief Executive Officer David Solomon’s total compensation for 2021 will be $35 million, the bank said on Friday.
29 January 2022, 18:00 PM

Oil hits 7-year peak

Oil prices rose to a more than seven-year peak on Friday and recorded their sixth straight weekly gain as geopolitical turmoil exacerbated concerns over tight energy supply.
29 January 2022, 18:00 PM