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
The end of King Dollar?
Rivalry with China, fallout from Russia’s war in Ukraine and wrangling once again in Washington over the US debt ceiling have put the dollar’s status as the world’s dominant currency under fresh scrutiny.
US, China wrangle on trade issues
The United States and China sparred over trade issues Friday but promised to keep lines of communication open as Beijing’s commerce minister paid a rare visit after a period of soaring tensions.
IMF lifts US growth forecast for 2023
The International Monetary Fund slightly raised its forecast for 2023 US economic growth Friday while noting that a slowing economy will likely lead to a small increase in unemployment in 2024.
Dollar hits 2-month high
The dollar pushed to a two-month high against the euro and a six-month peak versus the yen on Thursday, as a resilient US economy led traders to pare their bets on rate cuts this year.
Fed economists still expect mild recession
US Federal Reserve economists still expected a “mild recession” at the most recent interest-rate meeting earlier this month, according to minutes of the meeting published Wednesday.
Germany enters recession
Germany fell into a recession around the turn of the year, official figures published Thursday showed, as inflation and higher interest rates curbed demand in Europe’s largest economy.
180 businesspeople to get CIP status
140 are top exporters, 40 are chamber, trade body leaders
Oil prices up
Oil prices rose on Wednesday after data showed US inventories and fuel supplies tightening and following a warning from the Saudi energy minister to speculators raised the prospect of further Opec+ output cuts.
Chinese company opens $22m factory
ISMARTU Technology BD Ltd, a concern of Chinese mobile assembling company Transsion Holdings, has inaugurated a factory inside Meghna Industrial Economic Zone in Narayanganj yesterday.