Global Economy
Alibaba to pay $433.5 million to settle shareholder lawsuit over monopoly claims
Alibaba denied wrongdoing, saying it entered the settlement to avoid the cost and disruption of further litigation
Moody's cuts France outlook, opening door to credit downgrade
Moody's said the fiscal deterioration it has seen is "beyond our expectations and stands in contrast with governments in similarly rated countries that are tending to consolidate their public finances."
Russia hikes interest rates to 20-year high
The increase takes rates above an emergency level introduced in February 2022 -- just after Moscow ordered troops into Ukraine -- to their highest since 2003, with the regulator battling to stem the economic fallout of the conflict
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
India may cut solar panel import tax
India is considering cutting its import tax on solar panels by half and is seeking a rollback in goods and services taxes on the devices to make up a shortfall in local output amid rising demand for renewable energy, three government sources said.
Small investors souring on China’s recovery
The last great hope for China’s faltering post-pandemic rally is fading as the nation’s legion of small-time investors turns bearish on equities to double down instead on safer assets amid a stuttering economic recovery.
Indian rupee drops
The Indian rupee inched lower on Tuesday, tracking the Chinese yuan-led decline on most Asian currencies, although losses were capped by portfolio inflows.
UK shop price inflation strikes new record high
British shop price inflation picked up this month to reach its highest rate since industry records began in 2005, although growth in food prices cooled slightly, a survey showed on Tuesday.
Foreign investors withdrew $36b after selling businesses in Russia: report
Foreign investors who left Russia after selling their businesses there between March 2022 and March 2023 withdrew about $36 billion from the country, the state RIA news agency reported on Monday, citing analysis of data from the Central Bank.
Saudi diesel imports from Russia, exports to Singapore hit records
Leading crude exporter Saudi Arabia is maximising refining profits by importing unprecedented amounts of cheap Russian diesel and in turn shipping record volumes to Singapore, where the fuel can achieve higher margins, shiptracking data shows.
Lira hits record low
The Turkish lira hit a record low beyond 20 against the dollar on Friday, ahead of this weekend’s presidential election runoff that will decide whether President Tayyip Erdogan extends his rule into a third decade.
Default loans rise 9% in three months
It increased by Tk 10,954 crore to hit Tk 131,621 crore in March
China steel prices hit three-year low on demand woes
Steel rebar prices in China hit their lowest in three years this week, underscoring flagging growth in the world’s second-largest economy, particularly in its weak property sector.