Global Economy
Indonesia bets on SE Asia's first battery plant to become EV hub
Hyundai said the new factory was a commitment to helping the archipelago become a supercharged Southeast Asian EV maker
China's second-generation factory owners go digital to combat challenges
Qiu has set up a marketing business that directly connects factories with foreign audiences, through videos posted on Instagram and TikTok, which in China can only be accessed using a VPN.
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.
Rumee A Hossain re-elected as board executive committee chairman of Bank Asia
Rumee A Hossain has been re-elected as the chairman of the board executive committee of Bank Asia Limited at a meeting of the Board of Directors held recently.
China forex reserves jump to $3.2tr
China’s foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies.
US hiring shows surprise surge
Hiring in the United States picked up pace in April and unemployment returned to a multidecade low, government data showed Friday, signaling labor market resilience despite higher interest rates to tackle inflation.
German recession fears rise as factory orders plummet
Industrial orders at German factories saw their biggest fall in March since the outbreak of the Covid pandemic in 2020, data showed Friday, the latest sign that Europe’s biggest economy is facing a steep downturn.
Rising iPhone sales help Apple beat forecasts
Apple on Thursday said iPhone sales and money made from services powered quarterly earnings that beat forecasts, despite inflation pressure and the slowing global economy.
PM offers economic zone to Bhutan for mutual benefits
Prime Minister Sheikh Hasina offered Bhutan a scope to build an economic zone in Bangladesh for mutual benefits during a meeting in London with Bhutanese King Jigme Khesar Namgyel Wangchuck and Queen Jetsun Pema.
BB to set policies for market-based interest rates
The central bank took the decision to comply with IMF's loan conditions
China forex reserves rise to $3.205 trln in April
China's foreign exchange reserves rose more than expected in April, official data showed on Sunday, as the dollar fell against other major currencies.
Higher costs, volatile dollar hit drug makers’ profits
Most of the listed pharmaceutical companies in Bangladesh logged lower profits despite higher sales in July-March of the current financial year owing to a spike in the cost of production.
Fed raises interest rates
The Federal Reserve moved its management of the post-pandemic economic recovery into a new phase on Wednesday with what may be the last in a historic series of interest rate hikes and heightened attention to credit and other economic risks.