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
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.
Fashion retailers resilient despite consumer fears
A strong start to June for Sweden’s H&M and the return to profitability at online fashion retailer ASOS helped to allay concerns around a sector hit recently by weakening demand in the US.
Poorer nations will cut food imports for price hike: UN
High food prices will prompt poorer nations to cut back on food imports this year, the UN’s Food and Agriculture Organization said Thursday.
ECB hikes rates to 22-year high
The European Central Bank hiked interest rates to a 22-year high Thursday and said another increase in July was “very likely”, as it pushed ahead with its fight against inflation despite a darkening eurozone economy.
Sri Lanka’s economy shrinks 11.5% in Q1
Sri Lanka’s economy shrank 11.5 per cent in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades.
Tumbling exports feed worker unrest in China
Strikes at Chinese factories have surged to a seven-year high and are expected to become more frequent as weak global demand forces exporters to cut workers’ pay and shut down plants, one rights group and economists say.
Kremlin says no positive prospects for Black Sea grain deal renewal
The Russian side has clearly fulfilled its obligations and the mechanism created is still functioning.
'Cut red tape, customs delays to attract more Japanese FDI'
Japanese ambassador says at JBCCI, Jetro seminar
UNDP Bangladesh, H&M join hands to tackle climate change
The alliance will play a pivotal role in initiating policy dialogues focused on reducing carbon dioxide emissions, developing climate-responsive power policies, establishing power purchase agreements and identifying climate-smart investment opportunities
Fossil fuel companies’ net zero plans largely meaningless: report
The number of fossil fuel companies setting net-zero emissions targets has risen sharply over the past year, but most fail to address key concerns, making them “largely meaningless”, a report showed on Monday.