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
Boeing boosts 20-year outlook for planes
US planemaker Boeing slightly raised its annual 20-year forecast for new jetliner deliveries, propelled by the strength of the narrowbody market fueled by demand from low-cost carriers.
Yen sags to 15-year low vs euro
The yen plunged to a 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept its ultra-low interest rate policy and forecast that inflation will slow later this year, in contrast with the European Central Bank’s (ECB) rate hike on Thursday.
Russian oil to make up 30% of India’s imports
Russia may account for almost a third of India’s oil imports by the end of the current financial year, Arun Kumar Singh, the head of India’s Oil and Natural Gas Corp Ltd, was cited as saying on Saturday by Russian news agency Interfax.
German economy still struggling
The German economy is set to shrink in 2023 after a weak start to the year and as consumers continue to rein in spending because of stubbornly high inflation, Bundesbank president Joachim Nagel said Friday.
India’s import jump signals stable economy
A sequential increase in merchandise imports in May that led to the trade deficit widening to a five-month high signalled a stable local economy, economists said.
US business titans flock to China despite fraying ties
From Elon Musk to Bill Gates and Apple’s Tim Cook, some of the United States’ biggest business titans have headed to Beijing, seemingly defying the barrage of doomsayer narratives around the US-China trade war.
Intel to invest $4.6b in Poland chip site
US chip giant Intel will invest up to $4.6 billion to build a new site in Poland, creating around 2,000 jobs, the company said Friday.
Edison Real Estate teams up with Eastern Bank
Edison Real Estate Limited has recently signed a memorandum of understanding (MoU) with Eastern Bank Limited.
India weighs barter trade with Egypt
India is weighing a proposal to begin barter trade in goods like fertiliser and gas with Egypt as part of a wider deal that could see New Delhi extending a credit line worth several billion dollars to Cairo, sources told Reuters.
Russian oil revenues down nearly 50% on price cap: US
Russian government oil revenues plunged nearly 50 percent in the first five months this year, US Deputy Treasury Secretary Wally Adeyemo said Thursday, six months since a price ceiling was enacted.