Oil down on China outlook, spotlight on possible rate hikes

Oil prices fell on Monday after China set a lower-than-expected target for economic growth this year at around 5 per cent, and as investors cautiously awaited US Federal Reserve Chair Jerome Powell’s testimony this week.
6 March 2023, 18:00 PM

ECB facing high core inflation in the near term

Underlying inflation in the euro zone will stay high in the near term so a 50 basis point European Central Bank interest rate increase later this month is increasingly certain, ECB President Christine Lagarde told Spanish media group Vocento.
5 March 2023, 18:00 PM

UN development chief sounds alarm over debt distress

A top UN official has warned that “urgent” measures are needed to help 52 countries facing debt repayment problems that put some at risk of default.
5 March 2023, 18:00 PM

UK public inflation expectations rise unexpectedly

The British public’s expectations for inflation over the coming year and five to 10 years ahead rose unexpectedly in February, US bank Citi said after publishing a monthly survey conducted by market research company YouGov.
5 March 2023, 18:00 PM

Sri Lanka shows commitment to rapid disinflation - IMF

Sri Lanka’s decision to raise interest rates shows the crisis-hit country’s commitment to reducing inflation quickly towards single-digit levels, the International Monetary Fund (IMF) said on Saturday.
4 March 2023, 18:00 PM

Pakistani rupee strengthens 2.38% versus dollar

The Pakistani rupee on Friday strengthened 2.38 per cent in interbank closing at 278.46 rupees against the dollar, a day after the central bank raised its policy interest rate by 300 basis points (bps) to 20 per cent, trading data showed.
4 March 2023, 18:00 PM

Egyptian team to visit Bangladesh to learn about public procurement

An Egyptian delegation will come today on a three-day visit to learn from Bangladesh about the south Asian country’s journey towards digitalisation of the public procurement system, including its design, development, implementation and sustainability.
4 March 2023, 18:00 PM

Oil settles up on China demand hopes

Oil prices recovered from a brief sell-off to gain by more $1 per barrel on Friday and ended the week higher, driven by renewed optimism around demand from top oil importer China.
4 March 2023, 18:00 PM

Cash-strapped countries face IMF bailout delays

Countries in debt distress such as Zambia and Sri Lanka turning to the International Monetary Fund (IMF) for financial help are facing unprecedented delays to secure bailouts as China and Western economies clash over how to provide debt relief.
4 March 2023, 18:00 PM

Pakistan inflation jumps to 31.5%

Inflation in crisis-racked Pakistan has jumped 31.5 percent according to state data published Wednesday, as Islamabad continues to stare down IMF negotiators withholding a crucial bailout.
2 March 2023, 18:00 PM

Oil prices down 1.5% on recession jitters

Oil prices steadied on Friday, but fell for the week on a stronger US dollar and fears that an economic slowdown would weaken crude demand.
2 March 2023, 18:00 PM

Global farm, cereal prices stable: WB

The agricultural, cereal, and export price indices remained stable in the two weeks to February 23, said the World Bank.
2 March 2023, 18:00 PM

Adani gets $1.87b investment from US firm

US boutique investment firm GQG Partners has bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller’s critical report sparked a stock rout.
2 March 2023, 18:00 PM

India’s factory growth slows to 4-month low

India’s manufacturing sector expanded at the slowest pace in four months in February but remained relatively strong amid buoyant domestic demand, despite higher inflationary pressures, a private survey showed on Wednesday.
1 March 2023, 18:00 PM

Rebounding dollar a growing headache for investors

Investors reeling from the recent volatility in global financial markets are eyeing another potential worry: a rebounding dollar.
1 March 2023, 18:00 PM

Saudi assures of help as Dhaka seeks duty benefit for 213 products

Saudi Arabia has assured Bangladesh of extending cooperation when it sought duty-free access for 213 products to the market of the kingdom.
1 March 2023, 18:00 PM

Adani to repay up to $790m share-backed loans by March

India’s Adani Group plans to prepay or repay share-backed loans worth $690 million to $790 million by March-end, two people with knowledge of the matter told Reuters, as the conglomerate seeks to burnish its credit profile after a short-seller attack.
28 February 2023, 18:00 PM

Argentina keen to boost trade with Bangladesh

Santiago Andres Cafiero, Argentina’s minister of foreign affairs, international trade and worship, yesterday expressed his country’s interest to boost economic relations with Bangladesh.
28 February 2023, 18:00 PM

Phone firms promise ‘tsunami of innovation’

The big beasts of the telecom industry kicked off their most important annual get-together in Barcelona on Monday, promising to lead a  “tsunami of innovation”, as they try to shrug off a major slump across the technology sector.
27 February 2023, 18:00 PM

Dollar slips but remains near 7-week high

The dollar slipped from a seven-week high on Monday, as investors took stock of last week’s strong U.S. economic data and the outlook for global interest rates.
27 February 2023, 18:00 PM