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
Chinese company earnings reveal lopsided economic recovery
People in China splashed out on dining, travel and luxury goods after emerging from three years of pandemic restrictions but are still not spending freely on routine consumer items, if first quarter corporate results are an indication.
India inflation likely hit 18-month low in April
India’s consumer inflation likely cooled to an 18-month low in April as rises in food and fuel prices moderated, keeping it below the Reserve Bank of India’s upper tolerance limit for the second consecutive month, a Reuters poll of economists found.
Oil falls on rise in US inventories
Oil prices fell on Wednesday, ending a three-day rally as an unexpected rise in US oil inventories sparked demand concerns and investors awaited inflation data for a steer on US interest rates.
US banks may tighten lending standards on sector worries
US banks tightened lending standards in the first few months this year, and expect this to continue over the rest of 2023, said a Federal Reserve survey released on Monday.
Rupee hits over two-week low
The Indian rupee fell to a more than two-week low on Tuesday on the back of dollar purchases by importers and short covering by traders, with a rise in US yields also adding to the pressure.
AI could replace 80% of jobs ‘in next few years’: expert
Artificial intelligence could replace 80 per cent of human jobs in the coming years -- but that’s a good thing, says US-Brazilian researcher Ben Goertzel, a leading AI guru.
iPhone maker buys huge site in India tech hub
Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the key Apple supplier said in a filing Tuesday as it looks to diversify production away from China.
Lower oil prices bring down Aramco’s profit
Saudi oil giant Aramco’s first quarter net profit dropped 19 per cent from a year earlier to 119.54 billion riyals ($31.88 billion), it said on Tuesday, due to lower crude prices.
India extends $1b credit line for Sri Lanka by a year
India has extended a $1 billion credit line for Sri Lanka by one year, a Sri Lankan official told Reuters on Tuesday, giving the crisis-hit country a backup funds to pay for essential imports.
Wheat prices down globally, rice price unchanged
Wheat and maize prices declined 11 per cent and 14 per cent, respectively, in the global markets in the past two weeks while rice prices have remained relatively unchanged, according to the World Bank’s Food Security Update.