Global Economy
Oil prices dip after strongest weekly rise in over a year
Brent crude futures fell 31 cents, or 0.4 percent, to $77.74 per barrel by 0435 GMT. US West Texas Intermediate crude futures slipped 20 cents, or 0.27 percent, to $74.18 per barrel
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
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.
Mohammad Hatem, new BKMEA president
Previous president AKM Salim Osman resigned due to health issues
UK energy bills to rise, sparking fuel poverty fears
British energy bills are set to start rising again this autumn, the sector regulator announced on Friday, sparking fears that fuel poverty will worsen amid an ongoing cost of living crisis.
Bank of Japan governor flags more rate hikes
Bank of Japan governor Kazuo Ueda indicated Friday that officials could hike interest rates again if inflation and the economy performed as expected, weeks after turmoil caused by a surprise increase earlier this month.
Economists push back on Harris price gouging plan
Kamala Harris’s price gouging policy has been criticized by economists and analysts, who say it is an uncompetitive proposal that could end up hurting, and not helping, US consumers.
PwC China faces 6-month business ban
Chinese regulators will likely order business suspension for a big part of PricewaterhouseCoopers’ auditing unit in mainland China for six months, as part of punishment for its work on troubled property developer Evergrande, five sources said.
King dollar’s crown is slipping
If the pressure on global markets from the tumult at the start of the month has abated, nobody told the dollar.
India surpasses China to become Russia’s top oil buyer
India overtook China as the world’s biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed.
China targets dairy imports from EU in latest barb in trade row
Beijing on Wednesday launched a probe into EU subsidies of some dairy products imported into China, the day after the bloc said it planned to impose five-year import duties of up to 36 percent on Chinese electric vehicles (EVs).
Gold price going through the roof, Tk 124,501 a bhori now
The new price is effective from today