Dollar on the back foot

The dollar started the week on the back foot, hitting a seven-month low against a basket of major peers in Asian trade before steadying, with the yen in particular focus due to traders’ bets the Bank of Japan will tweak its yield control policy further.
16 January 2023, 18:00 PM

Job growth in South Asia may halve this year: ILO

The growth of jobs in South Asia is expected to nearly halve to 1.6 per cent in 2023 from 3 per cent a year ago, according to a new International Labour Organization (ILO) report released yesterday. 
16 January 2023, 18:00 PM

Oil prices drop

Oil prices held near this year’s highs on Monday as easing Covid restrictions in China raised expectations for a demand recovery in the world’s top crude importer.
16 January 2023, 18:00 PM

Most CEOs fear fall in global economic growth

Some 73 per cent of chief executive officers (CEOs) believe global economic growth will decline over the next 12 months, according to the PwC’s annual global CEO survey released yesterday.
16 January 2023, 18:00 PM

Richest 1% grab two-thirds of new $42tr wealth: Oxfam

The top 1 per cent of earners grabbed nearly two-thirds of all the new wealth, or $26 trillion of the $42 trillion, generated since 2020, according to a report by Oxfam International released yesterday.
16 January 2023, 18:00 PM

Big US banks gird for ‘mild recession’

Major US banks reported mixed fourth-quarter results Friday as executives pointed to the rising odds of a  “mild recession,” with inflation and interest rate hikes challenging households and businesses.
15 January 2023, 18:00 PM

Rupee notches best week in 2 months

The Indian rupee strengthened on Friday, posting its biggest weekly gain in two months, as benign US inflation reading reinforced expectations of a smaller rate hike by the Federal Reserve next month.
15 January 2023, 18:00 PM

China’s 2022 growth seen as its lowest in 40 years

China’s economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, analysts said ahead of Tuesday’s GDP announcement.
15 January 2023, 18:00 PM

Qatar, UAE energy ministers say gas will be needed for long time

The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, the energy ministers of Qatar and the United Arab Emirates said on Saturday.
14 January 2023, 18:00 PM

India’s forex reserves slip

India’s foreign exchange reserves fell to $561.58 billion in the week through January 6, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.
14 January 2023, 18:00 PM

US eyes ‘extraordinary measures’ to avoid default

The US Treasury Department said Friday it will likely begin  “extraordinary measures” next week to prevent a default on government debt, setting up a high-stakes showdown in Congress over raising the nation’s borrowing limit.
14 January 2023, 18:00 PM

China imports, exports plunge in December

China’s exports in December fell at their fastest pace since 2020, according to official data Friday, owing to a drop in global demand and after health restrictions hit economic activity at home.
14 January 2023, 18:00 PM

World enters new age of clean energy manufacturing: IEA

The world is at the “dawn of a new industrial age” of clean energy technology manufacturing that will triple in value by 2030 and create millions of jobs, the International Energy Agency said on Thursday.
12 January 2023, 18:00 PM

Half of German companies report labour shortages

More than half Germany’s companies are struggling to fill vacancies due to a lack of skilled workers, the German Chambers of Commerce and Industry (DIHK) said on Thursday, in the latest sign of growth headwinds belabouring Europe’s largest economy.
12 January 2023, 18:00 PM

Malaysia could stop palm oil export to EU

Malaysia said on Thursday it could stop exporting palm oil to the European Union in response to a new EU law aimed at protecting forests by strictly regulating sale of the product.
12 January 2023, 18:00 PM

Work collectively for a fair economic order, says PM at Global South Summit

Prime Minister Sheikh Hasina today urged the world leaders to work collectively for a just and fair economic order as the Covid-19 pandemic and the Russia-Ukraine conflict with its sanctions and counter-sanctions have wreaked havoc throughout the world.
12 January 2023, 06:41 AM

Geyser sales surge as consumers look to beat winter blues

The devices were only thought to be used by higher-income groups in Bangladesh, but as people’s disposable income rises, lifestyle changes and the power supply improves consumers from the middle-income groups are turning to geysers to use warm water for a comfortable bath.
12 January 2023, 03:00 AM

China boosts coal output

The increasing need to secure energy supplies after easing Covid-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.
11 January 2023, 18:00 PM

Indonesia’s crypto market braces for stricter regulation

The Indonesian crypto market is unlikely to improve in 2023, with investors braced for another difficult year amid a new regulatory environment.
11 January 2023, 18:00 PM

G7 seeks two price caps for Russian oil products

The Group of Seven (G7) coalition will seek to set two price caps on Russian refined products in February, one for products trading at a premium to crude oil and the other for those trading at a discount, a G7 official said.
11 January 2023, 18:00 PM