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
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.
Cut gold jewellery-carrying limit for travellers to 50g: Bajus
The gold ornament makers' body placed budget reaction
Economic policies sacrifice poor Americans
Dollar General, the ultra-low-cost retailer with 19,000 stores reaching 75 per cent of the US population, has never been a comfortable reflection of the American consumer. It’s getting even worse.
China making headway in large-scale AI models
China has developed at least 79 large-scale artificial intelligence models with over 1 billion parameters each, a research institute said in a rare public statement, amid the worldwide buzz created by OpenAI’s artificial intelligence chat bot ChatGPT.
US hiring heats up in May
Hiring in the United States heated up again in May, according to government data released Friday, with the strong labor market defying expectations of a slowdown amid efforts to cool the world’s biggest economy.
India’s forex reserves fall
India’s foreign exchange reserves fell for a second consecutive week and stood at a one-month low of $589.14 billion as of May 26, the Reserve Bank of India’s (RBI) data showed on Friday.
China’s yuan may slip further to aid economic recovery
China’s yuan has skidded to six-month lows against the dollar and analysts say it could weaken further as investors fret over a bumpy pandemic recovery in the world’s second-largest economy.
Opec+ may go for further output cuts
Opec and its allies begin two days of meetings on Saturday which may culminate in further production cuts of as much as 1 million barrels per day, Opec+ sources told Reuters, as the organisation faces flagging oil prices and a looming supply glut.
India's forex reserves fall for second straight week
It declines to $589.14 billion as of May 26