Higher costs, volatile dollar hit drug makers’ profits

Most of the listed pharmaceutical companies in Bangladesh logged lower profits despite higher sales in July-March of the current financial year owing to a spike in the cost of production. 
5 May 2023, 02:00 AM

Global gas markets to remain tight in 2023: IEA

Global gas markets are gradually rebalancing but are expected to remain tight in 2023 amid lower Russian pipeline gas deliveries to Europe, the International Energy Agency (IEA) said on Thursday.
4 May 2023, 18:00 PM

Eurozone inflation sees surprise rise

Annual inflation in the eurozone rose to seven per cent in April, the EU’s statistics agency said Tuesday, the first increase after five consecutive months of declines.
2 May 2023, 18:00 PM

IMF raises Asia’s economic forecast on China recovery

The International Monetary Fund (IMF) raised Asia’s economic forecast on Tuesday as China’s recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes.
2 May 2023, 18:00 PM

Euro zone factory downturn deepens

Euro zone factory activity contracted further last month, albeit not by as much as initially thought, while the cost of raw materials fell at the fastest pace in nearly three years, a survey showed on Tuesday.
2 May 2023, 18:00 PM

US manufacturing contracts again

US manufacturing activity shrank again in April as companies continued to match slowing demand by cutting new orders, according to survey data released Monday.
2 May 2023, 18:00 PM

China factory activity cools in April

China’s manufacturing activity unexpectedly shrank in April, official data showed on Sunday, raising pressure on policymakers seeking to boost an economy struggling for a post-Covid lift-off amid subdued global demand.
30 April 2023, 18:00 PM

‘Smart mines’ show coal deeply embedded in China’s future

One hundred metres underground inside a pit in northern China, miners extract lumps of coal with the flick of a finger on a smartphone, as the country tries to drag the traditionally dangerous and dirty work into the digital era.
30 April 2023, 18:00 PM

Japan maintains monetary easing

The Bank of Japan announced a review of its longstanding monetary easing measures on Friday but said it would maintain them for the time being in the first policy decision under new governor Kazuo Ueda.
29 April 2023, 18:00 PM

Eurozone GDP grows 0.1% in Q1

The eurozone economy lumbered forward in the first quarter, official data showed Friday, expanding just 0.1 per cent over the previous quarter as high inflation and interest rates weigh on activity.
29 April 2023, 18:00 PM

Sri Lanka’s inflation dips as IMF bailout kicks in

Cash-strapped Sri Lanka’s inflation eased to 35.3 per cent, the lowest in a year, the statistics office said Friday as the country pressed ahead with austerity measures under an IMF bailout.
29 April 2023, 18:00 PM

Intel, Samsung hammered as chips demand plummets

The crucial semiconductor industry, that powers everything from personal computers, smartphones to fighter jets, suffered a dismal first quarter as demand plummeted for chips.
29 April 2023, 18:00 PM

Gold heads for 2nd monthly rise

Gold bounced back on Friday on a dip in yields and renewed concerns over the US banking turmoil, putting the safe haven on course for its second monthly rise even as steady US inflation reinforced bets for an interest rate hike next week.
29 April 2023, 18:00 PM

Germany dodges recession

Germany narrowly dodged a recession in the first quarter but growth stagnated contrary to expectations for a slight rebound, preliminary data showed Friday, as the energy crisis weighed on Europe’s top economy.
29 April 2023, 18:00 PM

ExxonMobil, Chevron report higher profits despite oil price dip

US oil giants ExxonMobil and Chevron reported another quarter of heady profits Friday as both companies continued to direct large cash payments to shareholders.
29 April 2023, 18:00 PM

Taiwan slips into recession

Taiwan’s export-dependent economy contracted more than expected in the first quarter and slipped into recession as exports were hit by slowing global tech demand and broader economic woes, but should hit a 2 per cent growth target this year.
29 April 2023, 18:00 PM

Pakistan hikes drug prices by 20%

Inflation-hit Pakistan on Friday approved a rise of up to 20 per cent in retail prices of general medicines and 14 per cent for essential ones, prompting immediate criticism from drug manufacturers who said the increases were too small.
29 April 2023, 18:00 PM

UAE and Cambodia agree terms for bilateral trade deal

The United Arab Emirates (UAE) and Cambodia have agreed on the terms of a bilateral trade deal, as the Gulf state looks to strengthen trade and commerce ties, particularly in Asia, in strategic economic sectors.
27 April 2023, 18:00 PM

Samsung Electronics logs worst quarterly earnings in 14 years

Samsung Electronics on Thursday reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a global microchip glut that hit its core memory business.
27 April 2023, 18:00 PM

Pakistan all set to get discounted Russian oil: PM

Pakistan’s Prime Minister Shehbaz Sharif said yesterday that everything was set for his country to receive a shipment of discounted Russian oil.
27 April 2023, 18:00 PM