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.
World job market on brink of ‘AI revolution’: OECD
The world’s wealthiest nations must urgently prepare for the impact of an imminent “AI revolution” that will change jobs, create new ones and make others disappear, the OECD said Tuesday.
Export, import through Indian rupee begins
LCs were handed over to Tamim Agro, Shahjahan Mia, Nita Company and Abdul Matlub Ahmad
Dual currency Taka-Rupee card from September
Bangladesh Bank is going to introduce dual currency Taka-Rupee card in September this year to allow travellers to make payments at home as well as in India
Bangladesh, India to launch trade in rupee today
The move is likely give some respite to the importers since they will be able to open LCs in rupee to source a portion of the products from India
China urges ‘practical’ US action on sanctions after Yellen talks
China on Monday called on the US to take “practical action” in response to its “major concerns” about sanctions on Chinese firms, after US Treasury Secretary Janet Yellen wrapped up more than 10 hours of meetings with senior officials in Beijing.
Dollar steadies, yuan down
The dollar steadied on Monday, partly recovering from a knee-jerk reaction to Friday data showing US job gains were the smallest in 2-1/2 years, while disappointing inflation figures in China weighed on the yuan and proxies.
Rupee recovers, premiums inch up
The Indian rupee managed to recover on Monday and far forward premium rose, tracking a fall in near-maturity US yields after data showed US payrolls rose less than expected.
Yellen’s China trip yields long meetings, ‘cordial’ tone, but no consensus
US Treasury Secretary Janet Yellen went to Beijing with no expectations that meetings with China’s new top economic officials would immediately ease tensions between the world’s two largest economies.
India inflation likely rose to 4.58% in June: poll
India’s inflation likely snapped a four-month decline in June as food prices surged, a Reuters poll of economists found, making a cut in interest rates unlikely any time soon, while the Reserve Bank of India is also expected to resist pressure to raise rates.
China’s deflation pressure builds as consumer prices falter
China’s producer prices fell at their fastest pace in over seven years in June, while consumer prices teetered on the edge of deflation, adding to the case for policymakers to use more stimulus to revive sluggish demand.