US banks get ready for shrinking profits

US banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking.
10 January 2023, 18:00 PM

40% German firms fear output decline

Four out of ten German companies expect business to shrink in 2023, a survey by the German Economic Institute (IW) showed on Monday, blaming high energy costs, supply chain issues and the continuing war in Ukraine.
10 January 2023, 18:00 PM

UK curbs energy bill support for businesses

Britain on Monday scaled back its energy bill support for businesses after warning that the current aid level was unsustainable.
10 January 2023, 18:00 PM

UK becoming less attractive for investment

Britain has become less competitive and less attractive to foreign investors as a result of soaring energy costs and recent political turmoil, manufacturers said in an industry survey released on Monday.
10 January 2023, 18:00 PM

German industrial output ticks up

German industrial production recovered slightly in November, official figures published Monday showed, as fears of an energy crisis eased although prospects for Europe’s top economy still looked gloomy.
9 January 2023, 18:00 PM

Dollar slips near seven-month lows

The US dollar on Monday neared its lowest in seven months against other major currencies, after data last week suggested the Federal Reserve could slow the pace of its rate hikes, while China re-opening its borders boosted riskier currencies.
9 January 2023, 18:00 PM

Oil price rises

Oil prices climbed more than 2 per cent on Monday as China’s move to reopen its borders boosted the demand outlook and overshadowed global recession concerns.
9 January 2023, 18:00 PM

Remove complexities for more British investment

Bangladesh will attract more British investment if the existing business-related “complexities” are removed, said Rushanara Ali, the British prime minister’s trade envoy to Bangladesh.
9 January 2023, 18:00 PM

Taiwan’s Evergreen gives up to 52 months’ pay as bonuses

Taiwanese shipping giant Evergreen Marine has rewarded employees with massive year-end bonuses worth between 10 and 52 months of salary each, after posting bumper 2022 profits.
9 January 2023, 18:00 PM

German, S Korean ambassadors visit KEPZ

German Ambassador to Bangladesh Achim Tröster and South Korean Ambassador to Bangladesh Lee Jang-keun visited Korean Export Processing Zone (KEPZ) in Chattogram on Saturday. 
9 January 2023, 18:00 PM

Top UK bosses earn average person’s annual wage in days: survey

Britain’s top bosses earned more in the first few days of 2023 than most ordinary workers will all year, a study showed Thursday, as many grapple with a cost-of-living crisis.
8 January 2023, 18:00 PM

China hotels, travel bookings perk up

After three years of dealing with some of the world’s toughest Covid-19 curbs, there are early signs that Chinese consumers are gearing up to go out and spend again, particularly in major cities and tourist hot spots.
8 January 2023, 18:00 PM

Oil settles flat with weekly decline

Oil prices were little changed on Friday as the market balanced a weaker US dollar and mixed US jobs reports, but both crude benchmarks ended the first week of the year lower due to global recession concerns.
8 January 2023, 18:00 PM

Alibaba plans $1b investment in Turkey

Chinese e-commerce giant Alibaba Group Holding Ltd is planning a logistics hub at Istanbul Airport and a data centre near the Turkish capital Ankara with an investment of more than $1 billion, its president, Michael Evans, was cited as saying.
8 January 2023, 18:00 PM

US trade deficit narrows to smallest since late 2020

The US trade deficit narrowed more than anticipated in November on a fall in imports, government figures showed on Thursday, with drops seen in pharmaceuticals and household goods.
8 January 2023, 18:00 PM

China foreign exchange reserves rise to $3.13tr

China’s foreign exchange reserves rose in December, official data showed on Saturday, as the dollar fell against other major currencies.
8 January 2023, 18:00 PM

Auto industry races into metaverse at US tech show

Allowing the driver of an autonomous vehicle to watch a movie, a dealer to sell automobiles from a  “virtual” car lot, or an engineer to simulate how a new part fits: the auto industry is getting a tantalizing taste of the metaverse at the huge CES technology show.
8 January 2023, 18:00 PM

Eurozone inflation falls for second month

The eurozone’s annual inflation rate fell for a second month in a row, to 9.2 percent in December, driven by easing energy prices, official data showed Friday, bringing some relief to Europe in the new year.
7 January 2023, 18:00 PM

Economy sentiment in euro zone rises

Euro zone economic sentiment improved in December for the first time since the start of the war in Ukraine, European Commission data showed on Friday, with more optimism across all sectors of the economy and a sharp drop in inflation expectations.
7 January 2023, 18:00 PM

German factory orders plunge

German industrial orders fell sharply in November to hit their lowest level in more than two years, official data showed on Friday, as the war in Ukraine took a toll.
7 January 2023, 18:00 PM