Global Economy
Oil prices steady after 7% weekly drop
Brent crude futures rose 8 cents, or 0.11 percent, to $73.14 a barrel by 0120 GMT
China's central bank cuts two key rates to boost economy
The cuts come just days after the country posted its slowest quarterly growth in a year and a half, underlining the deep economic woes the country faces.
As poor nations' default wave peaks, cash shortage could take its place
The issue, and what to do about it when western countries are increasingly loath to send money overseas, is a key topic at the IMF World Bank autumn meetings taking place in Washington, D.C. this week.
China’s growth reprieve will be short-lived
China may be on track to hit its “around 5 percent” economic GDP target for this year, but repeating the feat will get harder for policymakers. Third quarter growth logged in at 4.6 percent year-on-year, and that pace will need sustaining if the People’s Republic is to achieve medium-level developed economy status by 2035. Unless planners move their own goalposts, they’ll have to contort themselves a lot more.
Analysis / Inflation is not dead, it’s just resting
Inflation in the United States picked up in the late 1960s in the wake of the Vietnam War and spending on President Lyndon Johnson’s “Great Society” set of social programs
New rules drive Japanese trucking sector to the brink
Since April, truck drivers' annual overtime has been capped at 960 hours, or 80 hours per month on average, alongside new rules including on break stops
Analysis / China's growth reprieve will be short-lived
The People's Bank of China, Ministry of Finance and other departments have at least announced enough stimulus measures to convince economists this year's performance will be on-target
Boeing and workers reach tentative deal to end strike
Boeing confirmed a tentative deal was reached and said it includes a 35 percent pay raise over four years and a one-time signing bonus of $7,000
Dollar wobbles as investors ponder 'higher for longer' rate path
The dollar eased from a 12-week peak on Monday as traders weighed the US monetary path after Fed Chair Jerome Powell left open the possibility of further interest rate increases, while the yen hovered close to its lowest in over nine months.
Oil marginally lower as global economic concerns loom
Oil prices were marginally lower on Monday as investors stayed fretful over the pace of economic growth in China, and the prospect of further US interest rate hikes that could dampen fuel demand.
Apparel’s duty benefit in Canada to remain intact
Bangladesh’s garment exports to Canada may continue to enjoy duty-free trade benefits after the graduation of the country to a developing nation, said a top businessman.
Maersk wants to build a new terminal at Laldia of Ctg port
Maersk Group CEO to meet PM Hasina
MJL plans Tk 95cr business expansion
Lubricating oil provider MJL Bangladesh PLC, a listed company, has announced plans to invest Tk 95 crore for business expansion.
India mulls import tax cut if EV makers build locally
India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla which is considering entering the domestic market, people with direct knowledge said.
China’s investment in AI may reach $38.1b in 2027
China’s investment in artificial intelligence is forecast to reach $38.1 billion (273.9 billion yuan) in 2027, accounting for 9 percent of the world’s total, according to a recent report by market consultancy IDC.
US growth, a puzzle to policymakers, could pose global risks
US economic growth, still racing at a potentially inflationary pace as other key parts of the world slow, could pose global risks if it forces Federal Reserve officials to raise interest rates higher than currently expected.
Russia may raise fish, seafood exports to China
Russia hopes to increase its marine product exports to China in the wake of China’s ban on Japanese seafood imports after the release of treated radioactive water from the wrecked Fukushima nuclear power plant into the sea.