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
US and five allies condemn trade-related economic coercion
The United States and five of its allies on Friday condemned the use of trade practices that amount to economic coercion in a joint declaration that did not single out other countries but appeared to be aimed at China.
India’s cenbank may not cut rate
India’s central bank may not cut the key lending rate before February unless inflation falls sharply or a global crisis unfolds, a top treasury official of Axis Bank said.
Sri Lanka lifts import limits on 286 items as crisis eases
Sri Lanka lifted import restrictions on 286 items, the Finance Ministry said on Saturday, a fresh sign the South Asian nation is starting to emerge from its worst economic crisis in decades.
China’s cenbank upbeat on Q2 GDP growth
China’s economic growth is expected to be “relatively high” in the second quarter compared to the prior year, mainly due a low base of comparison, while consumer inflation is projected to be above 1 per cent by December, the central bank governor said.
EU to try again for renewable energy deal after nuclear row
European Union countries will try again next week to pass a deal on new renewable energy targets, which have been stalled by concerns from France and other states that the law sidelines nuclear energy.
Credit card use: US nationals highest spenders among foreigners in Bangladesh
The nationals of the North American country spent Tk 61.5 crore in March this year
Indonesia, Malaysia to fight against EU palm oil ‘discrimination’
Indonesian President Joko Widodo on Thursday called for stronger collaboration with Malaysia to protect palm oil products threatened by a European Union trade law he termed “discrimination”.
Eurozone in recession at start of 2023
The eurozone entered into a technical recession at the start of the year, shrinking by 0.1 per cent for a second consecutive quarter, figures from the EU’s statistic agency showed Thursday.
German industrial output disappoints in April
German industrial production edged up in April but remained “subdued”, official data showed Wednesday, adding to fears of a longer recession in Europe’s largest economy.
China’s exports tumble in May as global demand falters
China’s exports shrank much faster than expected in May while imports extended declines with a grim outlook for global demand, especially from developed markets, raising doubts about the fragile economic recovery.