Global Economy
Samsung's profit recovery seen weakening in Q3
Operating profit for Samsung likely stood at 10.33 trillion won ($7.67 billion) in the quarter ended Sept 30
German govt expects another recession in 2024: media
The economy ministry sees the German economy contracting by 0.2 percent this year, a dramatic downgrade from its prior estimate of 0.3-percent growth, according to the Sueddeutsche newspaper
EV tariffs are only the first step in EU-China trade war
The European Union has got its electric vehicle tariffs through. On Friday, member states voted for levies on battery cars imported from the Middle Kingdom.
Dollar jumps to seven-week high
The dollar jumped to a seven-week high on Friday and was on track to post its best week since September 2022 after a surprisingly strong jobs report for September led traders to cut bets that the Federal Reserve will make further 50-basis-point rate cuts.
Gold price slips
Gold prices slipped on Friday after a stronger-than-expected US jobs report poured cold water on expectations for an aggressive rate cut from the Federal Reserve next month, boosting the dollar.
Tariff commission suggests halving sugar import duty
The commission recommended NBR cut sugar import duty to 15% from existing 30%
US grants for a feasibility study on temperature-controlled logistics
Bonton Foods has selected Minnesota-based Land O’Lakes Venture37 to conduct the study
Analysis / EV tariffs are only the first step in EU-China war
After Friday’s narrow vote, the European Commission is still talking with China to see if an alternative to tariffs is possible to address what it sees as the Middle Kingdom’s “injurious” support of its auto sector
India growth slows to 6.7% on lower consumer spending
India’s economic growth slowed to 6.7 percent on-year in the April-June quarter, official data showed Friday, as lower government outlays and lacklustre consumer spending weighed on the world’s fifth-largest economy.
Moody's raises India's growth forecasts
The rating agency expects India's economy to expand 7.2% in 2024 from 6.8% previously
How a single software update was able to cause IT chaos across the globe
The global IT outage on July 19 serves as a stark reminder of our vulnerability to technological failures
As it reins in wasteful investment, China frets over growth
In the first seven months of this year, local governments have issued only 45.5% of their 3.9 trillion yuan special debt quota
Apple eyes bigger slice of India's streaming market with Airtel deal
The move comes as competition tightens in India's $28-billion entertainment market and an $8.5-billion merger of the Indian media assets of Reliance and Walt Disney faces close scrutiny from regulators
Pakistan eyes $4 billion from Middle Eastern banks
The money will be used to plug external financial gaps, the country's central bank chief says
Importers can take delivery of 1,850 containers from Pangaon terminal: NBR
The permission was given as rail communication to Kamalapur ICD has remained suspended
What went wrong for Nestle CEO Mark Schneider
Two years ago, Mark Schneider could do nothing wrong; now he seems to get it all wrong
Bangladesh can learn from Korean experience in farm mechanisation
The Republic of Korea is now enjoying surplus rice production and one of the major factors that enabled the East Asian nation to become self-sufficient in this regard was farm mechanisation.
Morgan Stanley cuts oil demand growth outlook
Morgan Stanley has lowered its global oil demand growth forecast for 2024, mainly due to China’s slower economic growth, increased electric vehicle usage there, and a rise in the number of trucks in China powered by liquefied natural gas (LNG).