Global Economy
New administrator forms 10-member panel to run BGMEA
They are: Md Shahidullah Azim, Enamul Haque Khan (Bablu), Miran Ali, M Mohiuddin Chowdhury, Asif Ashraf, Rezwan Selim, ANM Saifuddin, Md Shihabuduzza Chowdhury, Shams Mahmud and Sharif Zahir
Bangladesh unlikely to get back GSP soon: finance adviser
Salehuddin Ahmed says after meeting with the US Department of the Treasury on the sidelines of the 2024 Annual Meetings of IMF-WBG currently taking place in the USA
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
China’s GDP expected to grow 5.4% in 2023
China’s GDP is expected to grow 5.4 per cent in 2023, according to a report by the Bank of China Research Institute released last week.
France expects big Tesla investment
French Finance Minister Bruno Le Maire on Sunday said he was “very hopeful” Tesla Chief Executive Elon Musk will pick France for a substantial investment linked to the production of electric vehicles in Europe.
Malaysia PM to meet Elon Musk to discuss investments
Malaysia's Trade Ministry in March said Tesla will open an office, showrooms and service centers in the country and establish a network of charging stations for its cars, but did not say when
A new era dawns in trade with India
Bangladesh, India to begin bilateral trade in rupee from July 11
Turkey expects $10b in Gulf investments
Turkey expects Gulf countries to make direct investments of about $10 billion initially in domestic assets as part of President Tayyip Erdogan’s trip to the region in two weeks, according to two senior Turkish officials.
Accelerate rate rises for savers
British regulator the Financial Conduct Authority (FCA) said on Thursday that banks need to accelerate rate rises for savers, but said it was not up to the watchdog to dictate pricing.
Oil prices up 3% to 9-week high
Oil prices climbed about 3 per cent to a nine-week high on Friday as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil.
Hiring in US slows
Hiring in the United States slowed in June, the Labor Department said Friday, providing a much-needed signal that the American economy is cooling ahead of another interest rate decision later this month.
Meta’s ‘friendly’ Threads collides with unfriendly internet
Mark Zuckerberg has pitched Meta’s Twitter copycat app, Threads, as a “friendly” refuge for public discourse online, framing it in sharp distinction to the more adversarial Twitter which is owned by billionaire Elon Musk.
Yellen criticises China’s ‘punitive’ actions against US companies
US Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticised its recent tough actions against US companies and mineral export controls, while China’s premier called on her to “meet China halfway” and put bilateral relations back on track.