Global Economy
Bangladesh may not regain US GSP soon
Bangladesh is unlikely to regain benefits offered under the generalised system of preferences (GSP) from the United States if the programme is revived in the near future because of several issues related to labour rights in the country, Finance Adviser Salehuddin Ahmed said yesterday.
China should use fiscal policy to boost growth: IMF
The Chinese government should use its tax-and-spend policies to help boost flagging economic growth, a senior IMF official told AFP ahead of key meetings this week in Washington.
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
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
Falling exports in May add to German woes
German exports dipped in May after a small rebound in April, official data showed Tuesday, adding to a gloomier outlook for Europe’s biggest economy.
Oil prices go up amid supply cuts
Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook.
UN talks aim to harness AI power, potential
The United Nations is convening this week a global gathering to try to map out the frontiers of artificial intelligence and to harness its potential for empowering humanity.
Chinese smartphones dominate Russian market
Chinese smartphones dominated the Russian market in the first half of 2023, exceeding 70 percent of all sales, leading consumer electronics retailer M.Video-Eldorado said, up from about 55 percent last year.
Meta to launch Twitter challenger app Threads
Meta Platforms plans to launch a Twitter-rivalling microblogging app called Threads, days after Twitter boss Elon Musk attracted criticism by announcing a temporary cap on how many posts users can read on the social media site.
EU, Japan to deepen chip cooperation
The European Union (EU) will deepen cooperation with Japan on semiconductors, industry chief Thierry Breton said on Monday, as countries move to strengthen control over a technology vital for the defence, electronic and automotive sectors.
Indian refiners start paying in yuan for Russian oil
Indian refiners have begun paying for some oil imports from Russia in Chinese yuan, sources with direct knowledge of the matter said, as Western sanctions force Moscow and its customers to find alternatives to the dollar for settling payments.
Oil giants drill deep as profits trump climate concerns
Oil and gas companies have intensified the hunt for new deposits in a long-term bet on demand, as they reinvest some of the record profits from the fossil fuel price surge driven by the Ukraine war, according to data and industry executives.
Tesla beats delivery estimates
Tesla Inc on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and US federal credits helped make its electric vehicles more affordable.
Pakistan inflation eases for first time in seven months
Pakistan’s headline inflation eased for the first time in seven months in June, figures released Monday showed, a bright spot for a beleaguered government that must call an election this year.