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
China trade with Russia hits highest level
China’s total trade with Russia in May soared to levels not seen since the beginning of Moscow’s war in Ukraine, official data showed Wednesday, as Beijing steps up support for its sanctions-hit ally.
$858 million WB financing for climate resilient agri growth, road safety
Bangladesh and the World Bank today signed two financing agreements in this regard
Pakistan proposes 3.5% GDP
Pakistan has proposed a GDP growth target of 3.5 per cent with a 21 per cent inflation projection in estimates for its budget for the 2023-24 financial year, an official source told Reuters on Tuesday.
Malaysia’s end-May palm oil stocks seen rising
Malaysia’s palm oil inventories at the end of May are expected to rise as production swells to its highest so far this year while exports remain flat, a Reuters survey showed on Tuesday.
Rupee inches up
The Indian rupee was trading marginally higher on Tuesday after a pullback in the US dollar, while traders awaited the Reserve Bank of India’s policy decision.
Debt ceiling deal ignores US debt time bomb
Republicans and Democrats are touting a hastily-written debt ceiling deal that staves off a devastating US default, but does little to slow a massive buildup of total federal debt now on pace to exceed $50 trillion in a decade.
Euro zone business growth slowed in May as factories struggled
Euro zone business activity was shored up last month by the bloc’s dominant services industry offsetting a deepening decline in the manufacturing sector, according to a survey which also showed overall price pressures had abated.
US factory orders rise
New orders for US-made goods rose for a second month in April, boosted largely by defense spending, but the overall manufacturing industry continued to struggle under the weight of higher interest rates.
India home prices set to stay above inflation
Home prices in India are set to hold above consumer inflation, even though interest rates are expected to stay higher for longer than previously thought, a Reuters poll of property analysts found.
Signs of de-dollarisation emerge: JPMorgan
There are some signs of de-dollarisation emerging right now, but the dollar should retain its “large footprint” for the foreseeable future, JPMorgan currency strategists said in a note on Monday.