Global Economy
Oil prices fall, weekly 7% drop on China demand woes, mixed Mideast outlook
Brent crude futures fell $1.39, or 1.87 percent, to $73.06 a barrel. US West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05 percent
China posts slowest growth in over a year as property woes drag
The economy expanded 4.6 percent year-on-year in the third quarter, down from 4.7 in the previous three months and the slowest since early 2023
US budget deficit widens to $1.8 tn, third highest on record
This year marks the third highest US deficit, behind 2021 and 2020, according to the Treasury
IMF board approves $1.1 billion disbursal for Ukraine
The loan disbursal is the latest tranche of funding the International Monetary Fund has released to Ukraine as part of an ongoing 4-year, $15.5 billion program approved last March.
Gold sprints to record high in global market
Gold hit an all-time high on Thursday, steered by uncertainty surrounding the US election and expectations of more interest rate cuts by major central banks, while spotlight shifted to a slew of US data.
Japan’s exports fall for first time in 10 months
Japan’s exports fell for the first time in 10 months in September, data showed on Thursday, a worry for policymakers as any prolonged weakness in global demand may complicate the central bank’s path to exit years of ultra-easy monetary policy.
Almost 40% of World Bank's recent climate funds unaccounted for: Oxfam
An Oxfam audit found that as much as $41 billion in climate finance could not be found "between the time projects were approved and when they closed."
ECB set to cut rates again as inflation cools
After cutting rates twice already this year, including at their last meeting in September, policymakers initially signalled a preference to wait until December to cut again
Chinese company to invest $19.5m in Mongla EPZ
Chinese company QSL.S Garments Co Ltd will invest $19.5 million to set up an RMG factory at the Mongla Export Processing Zone in Bagerhat.
UK, Singapore partner to boost economic growth
The British government has signed a partnership with Singapore to grow its economy and enhance shared security, Downing Street said on Friday, adding it was the UK’s first treaty since leaving the European Union.
Dollar gains for 8th straight week
The US dollar index registered an eighth straight week of gains on Friday while global stock indexes ended slightly higher on the day ahead of key US inflation data next week.
Turkey seeks to strengthen bilateral trade ties with Bangladesh: envoy
Turkey has reaffirmed its commitment to strengthening bilateral trade ties with Bangladesh, said Turkish Ambassador to Dhaka Ramis Sen.
Rough sea delays Pangaon Express’s rescue
Two months have passed, but the Pangaon-bound container vessel Pangaon Express that sank in the bay near Noakhali’s Bhasanchar on July 6 with 72 import-laden containers is yet to be rescued.
US, KSA, India discuss possible rail, port deal
The US, Saudi Arabia, India and other nations are discussing a possible infrastructure deal that could reconfigure trade between the Gulf and South Asia, linking Middle Eastern countries by railways and connecting to India by port, according to US officials aware of the conversations.
US interest rates in ‘good place,’ for now: Fed officials
High US interest rates are doing their job in the fight against inflation, but more hikes may yet be needed, senior US Federal Reserve officials said Thursday.
Japan cuts Q2 GDP on weak spending, wages slide
Japan’s economy grew less than initially estimated in the second quarter and wages slumped in July, casting doubt over central bank projections that solid domestic demand will keep the country on course for a recovery.
China’s deflation pressures ease, more steps expected to spur demand
China’s consumer prices returned to positive territory in August while factory-gate price declines slowed, data showed on Saturday, as deflation pressures ease amid signs of stabilisation in the economy.
India makes clean energy push at G20 with global biofuel alliance
India announced on Saturday the launch of a global biofuel alliance at a G20 summit in New Delhi to boost the use of cleaner fuels.