Global Economy
US consumer mood brightens, among Republicans in particular
US consumer sentiment climbed to a six-month high in October as declining interest rates helped improve buying conditions for big-ticket items like cars, but the uptick was most pronounced among Republicans who grew more confident in their party regaining the White House in the Nov. 5 presidential election.
Analysis / Debt rule tweak can help UK avoid moron premium
Reeves has already pledged to fund day-to-day spending with taxes but has been vague about her borrowing plans.
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
German investor mood darkens in May
German investor confidence fell sharply in May, a key survey showed Tuesday, adding to fears of a downturn in Europe’s biggest economy.
UK jobless rate rises
Britain’s unemployment rate rose and there were other signs of less inflationary heat in the labour market in data published on Tuesday, prompting investors to scale back some of their bets on further Bank of England interest rate hikes.
Senior StanChart official visits Bangladesh
Nick Huang, managing director and head of client coverage for Asia at Standard Chartered, recently came to Bangladesh in his first official visit to the country.
Russian oil exports hit post-invasion high: IEA
Russia’s oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by $1.7 billion despite Western sanctions, the International Energy Agency said Tuesday.
China’s economic recovery losing steam
China’s April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-Covid recovery.
Per capita income rises in taka, falls in dollar
The country’s per capita income dropped in US dollar value, but in Bangladeshi taka the amount rose by Tk 29,367 in 2022-23 thanks to the exchange rate fluctuations.
Musk tells Tesla staff he must approve all hiring
Tesla Inc (TSLA.O) CEO Elon Musk has said that the company can make no new hires unless he personally approves them, including contractors, according to a copy of the email seen by Reuters.
EU increases 2023 growth, inflation forecasts
The European Commission boosted its 2023 economic growth outlook for the eurozone on Monday but it also raised the inflation forecast for the single currency area.
China’s deposit pile stands in the way of recovery
China’s increasingly urgent efforts to tip its mountain of savings into the economy are running up against depositors shy of all but the safest investments, in the latest sign that weak confidence is holding back post-pandemic spending and growth.
Binance pulls out of Canada amid new crypto regulations
Binance said on Friday it was withdrawing from Canada, weeks after the country issued a series of new guidelines for cryptocurrency exchanges including investor limits and mandatory registrations.