Visa accepting applications from startups

Visa yesterday announced that it had started to accept applications for a “Visa Accelerator Programme 2023” from startups in the Asia Pacific region, including Bangladesh, to help them unlock business growth potential and access Visa’s network of partners from the region. 
20 December 2022, 18:00 PM

World Bank cuts China growth forecasts

The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world’s second largest economy.
20 December 2022, 18:00 PM

Malaysians saving less: survey

Malaysians are at their worst financial position in 2022 compared with the last five years, and the looming recession may push them to the brink with dwindling savings coupled with the aftermath of the Covid-19 pandemic.
19 December 2022, 18:00 PM

Oil prices rise on China demand

Oil prices rose on Monday after tumbling by more than $2 a barrel in the previous session as optimism over the Chinese economy outweighed concern over a global recession.
19 December 2022, 18:00 PM

Rupee gains vs dollar

The Indian rupee rose against the dollar on Monday as the greenback declined against its major peers, while forward premiums added to last week’s surge.
19 December 2022, 18:00 PM

Chinese business confidence falls to lowest in decade

China’s business confidence fell to its lowest since January 2013, a survey by World Economics showed on Monday, reflecting the impact of surging Covid-19 cases on economic activity with the abrupt lifting of many pandemic control measures.
19 December 2022, 18:00 PM

Energy crisis fuels coal comeback in Germany

Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
18 December 2022, 18:00 PM

Electric vehicle production set to surge in 2023

The past year was sobering for investors who poured money into Tesla Inc and rival electric vehicle startups that hoped to emulate Tesla CEO Elon Musk’s success.
18 December 2022, 18:00 PM

India to remain top buyer of Russia’s crude in Dec

India is taking most of Russia’s Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data.
18 December 2022, 18:00 PM

China’s economy to see sustained growth next year

China’s economic activity will likely return to a reasonable range next year after staging a V-shaped moderate recovery this year, underpinned by targeted macro policy support and infrastructure spending along with a steady recovery in consumption, economists said.
18 December 2022, 18:00 PM

Bright prospects for Bangladesh despite short-term challenges

Bangladesh is going through some short-term challenges like the rest of the world largely for the external factors but the medium-term prospects for the country remain bright, said Standard Chartered Bank Group Chairman José Viñals. 
18 December 2022, 02:30 AM

Fed may push rates higher, keep them there longer

Federal Reserve policymakers may need to lift US borrowing costs above the peak 5.1 per cent they penciled in just this week and keep them there perhaps into 2024 to squeeze high inflation out of the economy, three of them signaled on Friday.
17 December 2022, 18:00 PM

India’s textile industry faces tough times as buyers cut spending

India’s $200 billion textile and apparel industry is facing a crisis as consumers in the United States, Europe and other big markets have cut spending on clothing following a surge in inflation after the war in Ukraine, industry officials said.
17 December 2022, 18:00 PM

Germany opens first LNG terminal

Germany on Saturday inaugurated its first liquefied natural gas (LNG) terminal, built in record time, as the country scrambles to adapt to life without Russian energy.
17 December 2022, 18:00 PM

Companies race to build Chinese-style metaverse

As the concept of metaverse continues to grip the global technology industry, local companies are scrambling to build a digital realm that comes with Chinese characteristics.
15 December 2022, 18:00 PM

China’s factory, retail sectors skid for Covid

China’s economy lost more steam in November as factory output slowed and retail sales extended declines, both missing forecasts and clocking their worst readings in six months, hobbled by surging COVID-19 cases and widespread virus curbs.
15 December 2022, 18:00 PM

Dollar falters

The dollar was on the back foot on Thursday, even as the Federal Reserve kept to its hawkish rhetoric after raising rates by half a percentage point, as investors were doubtful over how much the central bank would commit to putting the brakes on growth to curb inflation.
15 December 2022, 18:00 PM

United Airlines to buy 100 Boeing 787

United Airlines on Tuesday unveiled an order of 100 new Boeing 787 Dreamliners, with options for an additional 100 jets, as the company banks on rebounding demand for international travel following a years-long pandemic slowdown.
14 December 2022, 18:00 PM

Apple plans to let rival app stores on iPhones in EU

Apple Inc is preparing to allow alternative app stores on its iPhones and iPads in the European Union as soon as late next year to comply with a new European competition law that it had fought, Bloomberg News reported on Tuesday, citing sources familiar with the matter.
14 December 2022, 18:00 PM

Sri Lanka expects $5b more in loans

Sri Lanka is expecting as much as $5 billion in loans next year from multilateral agencies besides an IMF deal, while the government is aiming to raise up to $3 billion via restructuring of state assets, its foreign minister told Reuters on Wednesday.
14 December 2022, 18:00 PM