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
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.
German investor morale improves
German investor morale improved unexpectedly in June, the ZEW economic research institute said on Tuesday, but warned of persistent headwinds as export-focused sectors struggled with a weak global economy.
India may tighten norms for banks’ unsecured lending
The Reserve Bank of India (RBI) is looking to tighten scrutiny on the unsecured lending portfolios of banks amid the growing risk of potential defaults, four banking sources told Reuters.
Europe takes lead over US on crypto regulation
Born out of the desire to create a decentralised currency not controlled by a government, the crypto movement has long resisted regulation.
Oil prices tick up
Oil prices rose on Tuesday on apparent bargain hunting, recovering some ground from the previous day’s plunge.
Investors concerned over EU deforestation law
As a new European Union zero-tolerance deforestation law looms, several major investors told Reuters they are concerned about their exposure to the issue, with some saying they could quit consumer goods makers with “risky” supply chains.
China cuts interest rate to kickstart flagging economy
China’s central bank on Tuesday cut a key policy interest rate, in a surprise move to boost the country’s flagging economy.
India’s retail inflation eases to a more than 2-year low
India’s annual retail inflation cooled to a more than two-year low of 4.25 per cent in May as cost pressures on food eased, moving closer to the Reserve Bank of India’s (RBI) target of 4 per cent, government data showed on Monday.
Dollar edges lower as Fed pause eyed in busy cenbank week
The dollar slipped on Monday as traders stayed on guard ahead of policy decisions this week from several central banks, including the Federal Reserve, who are expected to keep interest rates on hold for the first time since January 2022.
Pakistan gets first Russian crude under discount deal
The first shipment of Russian oil to energy-starved and dollar-strapped Pakistan was due to be unloaded at Karachi port on Monday, Prime Minister Shehbaz Sharif said.