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Global Economy
Global economic outlook even gloomier than projected: IMF
The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months.
14 November 2022, 03:18 AM
India can buy as much Russian oil as it wants
The United States is happy for India to continue buying as much Russian oil as it wants, including at prices above a G7-imposed price cap mechanism, if it steers clear of Western insurance, finance and maritime services bound by the cap, US Treasury Secretary Janet Yellen said on Friday.
13 November 2022, 18:00 PM
Many German manufacturers eye shift from China
German Chancellor Olaf Scholz discussed energy and trade ties with Vietnam’s Prime Minister Pham Minh Chinh during a visit to Hanoi on Sunday, the first for a German leader in more than a decade.
13 November 2022, 18:00 PM
Yellen warns of need to lift debt ceiling
With odds of a split US Congress rising, Treasury Secretary Janet Yellen warned that lawmakers’ failure to raise the statutory limit on US debt posed a “huge threat” to America’s credit rating and functioning of US financial markets.
13 November 2022, 18:00 PM
Chinese brands outnumber foreign names
Chinese consumers clutched their wallets tight in this year’s Singles Day and continued seeking relatively economical home brands over pricier expensive labels, as strict COVID-19 curbs and economic uncertainty weighed on the shopping extravaganza.
12 November 2022, 18:00 PM
UK external deficit a worry: S&P
Britain’s external deficit is a worry and there are questions over the country’s competitiveness long-term, while the new Italian government’s medium-term fiscal plan appears “realistic”, senior analysts at S&P Global said on Friday.
12 November 2022, 18:00 PM
Dollar extends fall after inflation data knock
The dollar fell across the board for a second straight day on Friday, as investors favoured riskier currencies following signs U.S. inflation is cooling that boosted the case for the Federal Reserve to ease off its hefty interest rate hikes.
12 November 2022, 18:00 PM
Can Ukraine’s grain deal ease the global food crisis?
A deal to free-up vital grain exports from Ukraine expires on November 19 and intense negotiations over the next few days will determine whether it is extended and possibly even expanded to help ease concerns about global food security.
10 November 2022, 18:00 PM
Maersk builds warehouse to expand capacity
Maersk is building a 100,000-square-feet warehouse in the port city of Chattogram to expand its capacity, said the global shipping services company.
10 November 2022, 18:00 PM
Elon Musk sells $4b in Tesla stock
Asian stocks made a positive start Wednesday following gains on Wall Street but lost momentum as factory gate prices in China fell for the first time in nearly two years.
9 November 2022, 18:00 PM
Dark clouds over China economy amid Covid curbs, slowdown
A slew of lacklustre indicators for October show strict and enduring Covid curbs as well as a global slowdown are dragging on China’s economy, analysts told AFP, with prospects looking increasingly grim for 2023.
9 November 2022, 18:00 PM
Germany to block chip factory sale to Chinese firm
The German economy ministry has recommended that the sale of a chip factory to a Chinese-owned firm should be blocked as it poses a security threat, government sources said Tuesday.
8 November 2022, 18:00 PM
India says Russia oil deals advantageous
India will continue buying Russian oil because it benefits the country, India’s foreign minister said on Tuesday after meeting his Russian counterpart for the fifth time this year, adding that the two countries were expanding their trade ties.
8 November 2022, 18:00 PM
Chinese firm to invest $61m in economic zone of Bepza
Chinese company Kaixi Lingerie Bangladesh Company Ltd is going to set up a composite garments factory with an investment of $60.85 million at the Bangladesh Export Processing Zones Authority’s (Bepza) economic zone in Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram.
8 November 2022, 18:00 PM
iPhone shipments from China disrupted by Covid
Apple Inc expects lower shipments of high-end iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted plant in China, dampening its sales outlook for the year-end holiday season.
7 November 2022, 18:00 PM
China trade shrinks amid Covid curbs
China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as a perfect storm of Covid curbs at home and global recession risks dented demand and further darkened the outlook for a struggling economy.
7 November 2022, 18:00 PM
Crystal Grains enters spice market of Bangladesh
Crystal Grains launched its spice brand “Chef’s Choice” in Bangladesh market to make people’s life easier and more comfortable, especially for the working women.
7 November 2022, 18:00 PM
Oil surges 5pc amid rate hike prospects
Oil prices settled up by more than 5 per cent on Friday amid uncertainty around future interest rate hikes by the US Federal Reserve, while a looming EU ban on Russian oil and the possibility of China easing some Covid restrictions supported markets.
6 November 2022, 18:00 PM
Inflation data, midterm elections loom for struggling US stock rally
A sputtering US stock rally faces a double dose of potentially market moving events next week: US midterm elections and inflation data that could influence the Federal Reserve’s monetary policy.
6 November 2022, 18:00 PM
Investors pile into cash at fastest rate since Covid crisis
Investors put money into cash at the fastest pace at the start of a quarter since the 2020 Covid crisis in the week to Wednesday, as heightened volatility and questions over the US rate outlook triggered a safe-haven dash, BofA Global Research said on Friday.
5 November 2022, 18:00 PM