US targets China over semiconductors

US-China tensions over semiconductors began with the Trump administration’s trade war and have ratcheted up under President Joe Biden’s leadership as Washington looks to undercut Beijing’s efforts to build its high-tech industry.
2 July 2023, 18:00 PM

Eurozone inflation falls in June

Eurozone inflation eased further in June as energy prices fell but those of food and drinks remained elevated, official data showed Friday.
2 July 2023, 18:00 PM

Apple’s market value ends above $3tr for first time

Apple Inc’s stock market value ended a trading session above $3 trillion for the first time on Friday, lifted by signs of improving inflation and bets that the iPhone maker will successfully expand into new markets.
2 July 2023, 18:00 PM

Inflation eases sharply in Sri Lanka

Sri Lanka’s inflation eased to 12 percent in June, official data showed Saturday, the lowest figures since the island nation careened into an unprecedented economic crisis last year.
2 July 2023, 18:00 PM

China’s factory, service sectors stumble

China’s factory activity declined for a third straight month in June and weakness in other sectors deepened, official surveys showed on Friday, adding pressure for authorities to do more to shore up growth as demand falters at home and abroad.
2 July 2023, 18:00 PM

Germany, France and Italy agree raw materials cooperation

Germany, France and Italy said Monday they would cooperate more closely on the procurement of raw materials as Europe seeks to reduce its reliance on imports from countries such as China.
27 June 2023, 18:00 PM

US home sales jump in May

New home sales in the United States surged unexpectedly in May, the Commerce Department said Tuesday, reaching the highest rate in over a year despite efforts to cool the economy.
27 June 2023, 18:00 PM

Bitcoin bounces

Bitcoin, the currency created to subvert the financial establishment, has shaken off weeks of sickness with the support of Wall Street’s finest.
27 June 2023, 18:00 PM

West’s economic de-risking a ‘false proposition’

Chinese Premier Li Qiang slammed efforts in the West to  “de-risk” their economies as a  “false proposition” on Tuesday, hitting back against US and EU policy aimed at reducing their reliance on China.
27 June 2023, 18:00 PM

Investors overly optimistic on speed, cost of taming inflation: IMF

The world’s top central banks may need longer to get inflation back down to target and a fresh bout of financial turbulence could make the process even more protracted, the International Monetary Funds second-in-command said on Monday.
27 June 2023, 18:00 PM

China weary of weakening yuan

The US dollar’s protracted smile is making China and Japan uncomfortable.
27 June 2023, 18:00 PM

Japan may extend fuel subsidy

Japan is leaning towards extending support measures for gas and electricity bills set to expire at the end of September, three government and ruling party sources with knowledge of the matter told Reuters on Tuesday, aiming to underpin a fragile economy.
27 June 2023, 18:00 PM

Indonesia’s textile industry to lay off more workers

More workers are expected to head to the chopping block in the Indonesian textile industry later this year, as companies face a prolonged slowdown in the export market.
26 June 2023, 18:00 PM

Germany faces uphill battle to shake off recession

German business morale worsened for the second consecutive month in June, a survey showed on Monday, indicating that Europe’s largest economy faces an uphill battle to shake off recession.
26 June 2023, 18:00 PM

Companies to get first carbon accounting rules

Companies around the world will soon have a uniform set of standards on sustainability issues after the body governing international accounting rules published on Monday its first guidelines on reporting greenhouse gas emissions.
26 June 2023, 18:00 PM

Sri Lanka to restructure domestic debt

Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government’s domestic debt amounting to more than $51 billion.
26 June 2023, 18:00 PM

Dollar rate hiked for exporters

Bankers yesterday hiked dollar purchase rate for the exporters in their bid to come to a unified rate for the greenback by September this year.
26 June 2023, 18:00 PM

Forex reserve rises past $31b

The country’s foreign exchange reserves rose past $31 billion yesterday after three multilateral lenders provided $925 million to Bangladesh. 
26 June 2023, 18:00 PM

War dashes exporters’ $1b Russian dream

Bangladesh’s shipment to Russia fell nearly 30 per cent year-on-year to $432 million in July-May of the outgoing financial year owing to the difficulty in supplying goods to a country at war with Ukraine. 
26 June 2023, 00:00 AM

Bitcoin hits 1-year high

Bitcoin, the world’s largest cryptocurrency, hit a one-year high on Friday at $31,458, capping off a week of gains helped in part by BlackRock’s plans to create a bitcoin exchange-traded fund even as the digital asset sector faces US regulatory scrutiny.    
25 June 2023, 18:00 PM