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
India’s wheat output 10% lower than govt estimates
India’s wheat harvest in 2023 is at least 10 percent lower than the government’s estimate, a leading trade body told Reuters on Wednesday, amid a sharp rise in local prices during the past two months.
Oil price dips
Oil futures fell on Thursday, with trader concern over bearish impact from interest rate hikes countered by potentially bullish US oil inventory data after preliminary figures showed a fall in stocks.
US approves lab-grown chicken for sale
The United States has granted its first ever approvals to two companies to sell chicken grown directly from animal cells, becoming only the second country to allow lab-grown meat to be offered to consumers.
Brexit an ‘economic disaster’ for UK, German trade
Brexit has been an “economic disaster” for trade and investment ties between the United Kingdom and Germany, leading to a fall in German direct investment and seeing the UK decline in importance as a trading partner, German economists said.
Battle of billionaires: Musk's Starlink eyes India, Ambani resists
Following a meeting with Indian Prime Minister Narendra Modi in the US on Tuesday, Musk said he was keen to launch Starlink in India which "can be incredibly helpful" in remote villages that have no internet or lack high-speed services.
High inflation hinders UK cost-of-living fight
Britain’s annual inflation rate unexpectedly remained at 8.7 percent in May, official data showed Wednesday, piling pressure on the Bank of England and government to act over a cost-of-living crisis.
Oil holds steady
Oil prices stabilised on Wednesday ahead of Federal Reserve Chair Jerome Powell’s congressional testimony later in the day and as data showing British inflation remained sticky raised the possibility of a hawkish Bank of England policy decision this week.
Musk eyes big India investment
Tesla chief executive Elon Musk said India’s Prime Minister Narendra Modi was pushing the car maker to make a “significant investment” in the country, adding that such an announcement was expected soon.
European businesses in China fight post-Covid blues
A faltering recovery, regulatory headaches and an increasingly politicised business climate are hammering European business confidence in China despite the country reopening its doors, according to a survey published on Wednesday.
