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
Indian farmers ramp up rice acreage
Indian farmers have planted 38.4 million hectares (94.8 million acres) with rice, up 4.3 percent on the same period last year, farm ministry data showed on Friday, as a revival in July monsoon rains and higher prices encouraged growers to boost acreage.
Fed may need to raise interest rates further
The Federal Reserve may need to raise interest rates further to cool still-too-high inflation, Fed Chair Jerome Powell said on Friday, promising to move with care at upcoming meetings as he noted both progresses made on easing price pressures as well as risks from the surprising strength of the US economy.
UK energy bills to fall again
The price cap on energy bills for most British households is to fall again, regulator Ofgem announced on Friday, offering mild relief amid the ongoing cost-of-living crisis.
German business morale declines
German business sentiment fell for the fourth month in a row in August, a key survey showed Friday, deepening the sense of gloom in Europe’s biggest economy.
Dollar holds steady
The US dollar held steady on Friday, on pace to finish the week strong, after Federal Reserve Chair Jerome Powell said the central bank may need to raise interest rates further to ensure inflation is contained but promised to move “carefully” at upcoming meetings.
Investors see long wait for economic boon
The expansion of the BRICS group of developing countries could provide a lifeline to capital-starved new entrants Iran and Argentina, but investors and analysts say a broader economic boon for the bloc’s members is far from certain.
Oil futures up 1%
Oil futures climbed about 1 percent to a one-week high on Friday as US diesel prices soared, the number of oil rigs dropped, and a fire broke out at a refinery in Louisiana.
Executive Motors brings BMW electric vehicle
Executive Motors Limited yesterday unveiled the BMW iX3 M Sport, the first-ever electric vehicle from BMW, for the Bangladesh market.
New Indian duty unlikely to affect local rice market
Rice millers say Bangladesh has 'adequate' rice stock
Investors see long wait for enlarged BRICS' economic boon
The expansion of the BRICS group of developing countries could provide a lifeline to capital-starved new entrants Iran and Argentina, but investors and analysts say a broader economic boon for the bloc's members is far from certain..Leaders of the BRICS - Brazil, Russia, India, China and S