Pakistan’s Prime Minister Shehbaz Sharif said yesterday that everything was set for his country to receive a shipment of discounted Russian oil.

Pakistan's Prime Minister Shehbaz Sharif said on Thursday that everything was set for his country to receive a shipment of discounted Russian oil

US consumer confidence fell more than many predicted in April, fueled by a deterioration in expectations among Americans over 55 and households with annual incomes over $50,000, according to survey data released Tuesday.

Global tech giants could face fines of up to 10 per cent of their annual turnover if a British government bill to protect consumers launched on Tuesday becomes law.

US Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government’s debt ceiling - and the resulting default - would trigger an “economic catastrophe” that would send interest rates higher for years to come.

The Indian rupee strengthened against the US currency to a seven-week high on Wednesday, tracking Asian peers as the dollar index gave up gains and local equities remained resilient.

Sales of electric vehicles are booming and are expected to account for nearly one in five cars sold this year, according to a report released Wednesday.

Additional charges will also be applicable, says NBR

Lending declined in many parts of the United States over recent weeks, the Federal Reserve announced Wednesday, amid financial sector troubles unleashed by the rapid collapse of Silicon Valley Bank (SVB).

The United States seeks a  “constructive and fair economic relationship” with China, even as Washington holds firm in defending the country’s national security, Treasury Secretary Janet Yellen said in prepared remarks Thursday.

German automakers have turned up in full force at Shanghai’s Auto Show as they fight to stay on top of consumer trends in the country that will define whether they maintain their market dominance in the electric age both at home and abroad.

British businesses are struggling to meet their sustainability goals due to rising energy prices, costs associated with international trade barriers and the impacts of the Covid-19 pandemic, a survey showed on Thursday.

A funding squeeze at Indian startups that has already led to layoffs and delayed stock listings is set to worsen as investors reckon with stretched valuations and faltering consumption growth, likely laying the ground for industry consolidation. 

Consumers are starting to fall behind on their credit card and loan payments as the economy softens, according to executives at the biggest US banks, although they said delinquency levels were still modest.

China’s economy grew at a faster-than-expected pace in the first quarter, as the end of strict Covid curbs lifted businesses and consumers out of crippling pandemic disruptions, although headwinds from a global slowdown point to a bumpy ride ahead.

Reckitt Benckiser (Bangladesh) PLC posted a 67.30 per cent year-on-year increase in profit to Tk 15.21 crore in the January-March quarter of 2023.

Indian mills produced 31.1 million tonnes of sugar since the current season began on October 1, a fall of 5.4 per cent year on year, as many mills closed early due to limited availability of sugar cane, a leading trade body said on Tuesday.

German investor confidence unexpectedly fell in April for the second straight month, a survey showed Tuesday, due to lingering fears about the banking sector and concerns about stubbornly high inflation.

Apple opened its first retail store in India on Tuesday, underscoring the US tech titan’s increasing focus on the South Asian nation as a key sales market and alternative manufacturing hub to China.

Deposits at three financial institutions fell in the first quarter as the industry’s biggest crisis in more than a decade prompted a flight of funds, with customers seeking better returns elsewhere.