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.
Taka weakens further, BB sells $1 at Tk 104.5
The central bank devalued the local currency Tk 103 from Tk 102 in the first week of April.
Forex reserves fall below $31 billion
It hit $30.92b on April 30, down from $44.01b on same day a year ago
BBS to publish quarterly GDP data from 2024
The decision was taken to meet IMF's $4.7 billion loan conditions
JPMorgan Chase to buy First Republic Bank after regulators seize control
The second-largest bank in US by assets, First Republic, collapses nearly two months after the fall of Silicon Valley Bank
China factory activity cools in April
China’s manufacturing activity unexpectedly shrank in April, official data showed on Sunday, raising pressure on policymakers seeking to boost an economy struggling for a post-Covid lift-off amid subdued global demand.
‘Smart mines’ show coal deeply embedded in China’s future
One hundred metres underground inside a pit in northern China, miners extract lumps of coal with the flick of a finger on a smartphone, as the country tries to drag the traditionally dangerous and dirty work into the digital era.
Japan maintains monetary easing
The Bank of Japan announced a review of its longstanding monetary easing measures on Friday but said it would maintain them for the time being in the first policy decision under new governor Kazuo Ueda.
Eurozone GDP grows 0.1% in Q1
The eurozone economy lumbered forward in the first quarter, official data showed Friday, expanding just 0.1 per cent over the previous quarter as high inflation and interest rates weigh on activity.
Sri Lanka’s inflation dips as IMF bailout kicks in
Cash-strapped Sri Lanka’s inflation eased to 35.3 per cent, the lowest in a year, the statistics office said Friday as the country pressed ahead with austerity measures under an IMF bailout.