Global Economy
Unilever beats third-quarter underlying sales estimate
The consumer goods giant said on Thursday it was keeping its full-year outlook for 3-5 percent underlying sales growth and an underlying operating margin of at least 18 percent
US fines Apple and Goldman Sachs over Apple Card
Apple failed to send tens of thousands of customer disputes about credit card transactions to Goldman Sachs, and when it did the bank did not follow federal requirements for investigating claims, the bureau said
Boeing workers reject contract, extend strike: union
64 percent of the members of the International Association of Machinists and Aerospace Workers District 751 rejected the contract, the union said on X
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.
'Bangladesh to seek US duty benefit again in next Ticfa meet'
Senior Commerce Secretary Tapan Kanti Ghosh says
Kamal leaves for India to join G20 summit
Bangladesh is one of the nine guest countries of the summit this year
China publishes interim rules on generative AI
China issued interim measures on Thursday to manage its booming generative artificial intelligence (AI) industry, saying they would apply only to services offered to the public as regulators seek to support development of the technology.
IMF sees slowing momentum in global economy
The International Monetary Fund said on Thursday that first quarter global growth slightly outpaced projections in its April forecasts, but data since then has shown a mixed picture, with “pockets of resilience” alongside signs of slowing momentum.
UK economy set to dodge recession for now
Britain’s economy shrank by less than expected in May despite a bank holiday to mark King Charles’ coronation and strikes, suggesting a widely forecast recession caused by high inflation and surging interest rates was not already under way.
Dollar falls
A sliding dollar came under more pressure on Thursday, as traders took surprisingly slow US inflation as a signal US interest rate rises will be all but finished by month’s end.
Oil price hovers above $80
Global oil benchmark Brent hovered above $80 a barrel on Thursday after US inflation data implied interest rates in the world’s biggest economy are close to their peak.
IMF board approves $3b Pakistan deal
The International Monetary Fund (IMF) said Wednesday that it has approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled South Asian economy.
China, Asean pushing ahead with free trade area talks
China and the Association of Southeast Asian Nations (Asean) are pushing ahead with talks on a third version of a free trade agreement at an Asean summit in the Indonesian capital of Jakarta, China’s top diplomat Wang Yi said on Thursday.
Tesla in talks with India to set up factory
Tesla is discussing an investment proposal with the Indian government to set up a factory with an annual capacity to produce about half a million electric vehicles, the Times of India reported on Thursday, citing government sources.