Global Economy
US ‘very close’ to soft landing
The United States is very close to achieving a soft landing, the rare feat of tackling inflation without spurring a long recession, the IMF’s chief economist told AFP.
India lifts export tax on parboiled rice
The removal comes amid bumper harvest projections and surplus stock
US remains engine of global growth in latest IMF forecasts
IMF raised its 2024 and 2025 economic growth forecasts for the US - the only developed economy to see its outlook marked up for both years
IMF lowers China 2024 growth forecast, warns property woes 'could worsen'
China's leaders are targeting annual growth of five percent this year -- a goal challenged by weak consumption and a prolonged and debilitating debt crisis in the colossal property sector
HSBC merges commercial, investment banking units
HSBC Holdings said on Tuesday it would combine some of its commercial and investment banking operations in a major overhaul under new CEO Georges Elhedery, which will see it cut costs while trying to improve returns.
US unveils funding for chip industry firm in battleground Michigan
The latest $325 million in proposed funds under the CHIPS and Science Act -- a package of incentives to boost research and US semiconductor production -- goes towards polysilicon manufacturer Hemlock Semiconductor
Britain seeking EU trade reset: minister
Trade minister Douglas Alexander said Britain's 2016 vote to leave the EU caused "significant disruption" to its trade policy and the country needed to recalibrate its global trade outlook
As poor nations’ default wave peaks, cash shortage could take its place
The punishing post-Covid wave of sovereign defaults has finally crested, with the likes of Ghana, Sri Lanka and Zambia concluding years of painful debt reworks.
India bars non-basmati white rice export
India yesterday prohibited the export of non-basmati white rice with immediate effect after late seasonal monsoon rains hurt the crop and raised fears of a production shortfall, reports Reuters.
Russia bombards Ukraine ports, threatens ships, jolting world grain markets
At least 27 civilians were reported hurt in the air strikes on the ports, which set buildings ablaze and damaged China's consulate in Odesa.
Gold prices cross Tk 1 lakh a bhori for the first time
The rate will be effective from tomorrow
India bans non-basmati rice export with immediate effect
The top rice exporter fears a production fall for late start of monsoon rains
Govt implements 84.16% of ADP in FY23
The amount is 8.58 percentage points lower than the previous year
The world's cheapest Domino's pizza is in inflation-hit India. It costs $0.60
The 49-rupee ($0.60) pizza in India, Domino's No.1 market outside America, is the tip of the spear in its fight against rampant inflation that's squeezing profits and pricing out many customers, according to the CEO of its franchisee there.
Russian strikes continue on Ukraine's ports after Moscow warns ships
Russian strikes on Ukrainian port areas continued on Thursday, local authorities said, after Moscow warned that ships heading to Ukraine's Black Sea ports could be considered military targets.
ADB cuts inflation forecast for developing Asia
The Asian Development Bank cut its inflation forecast for developing Asia on Wednesday, as food and fuel prices eased, supply chain disruptions waned and interest rate hikes started to bite.
India should cash in on ‘China plus one’ strategy
India has an opportunity to cash in on global companies’ efforts to build factories outside China, the new World Bank president said on Wednesday, as firms seek to diversify their supply chains.
Chambers worried over Russia’s exit
The leaders of six major trade bodies in Bangladesh have expressed concerns over disruptions to the global supply chain of wheat following Russia’s exit from the Black Sea Grain Initiative on July 17.