Global Economy
Analysis / Biden's precise industrial policy may soon mutate
Two years into the US government’s attempt to lure manufacturing of semiconductors and renewable energy back home, the president’s top national security aide, Jake Sullivan, offered a defense of his boss’s major economic choices.
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
Pakistan all set to get discounted Russian oil: PM
Pakistan's Prime Minister Shehbaz Sharif said on Thursday that everything was set for his country to receive a shipment of discounted Russian oil
US consumer confidence falls
US consumer confidence fell more than many predicted in April, fueled by a deterioration in expectations among Americans over 55 and households with annual incomes over $50,000, according to survey data released Tuesday.
UK targets big tech to boost online consumer rights
Global tech giants could face fines of up to 10 per cent of their annual turnover if a British government bill to protect consumers launched on Tuesday becomes law.
US default on debt would trigger economic catastrophe: Yellen
US Treasury Secretary Janet Yellen on Tuesday warned that failure by Congress to raise the government’s debt ceiling - and the resulting default - would trigger an “economic catastrophe” that would send interest rates higher for years to come.
Rupee scales seven-week peak
The Indian rupee strengthened against the US currency to a seven-week high on Wednesday, tracking Asian peers as the dollar index gave up gains and local equities remained resilient.
Demand for electric cars ‘booming’: IEA
Sales of electric vehicles are booming and are expected to account for nearly one in five cars sold this year, according to a report released Wednesday.
India to pay Tk 220 per tonne for transportation of goods via Mongla, Ctg
Additional charges will also be applicable, says NBR
US lending slows on banking concerns
Lending declined in many parts of the United States over recent weeks, the Federal Reserve announced Wednesday, amid financial sector troubles unleashed by the rapid collapse of Silicon Valley Bank (SVB).
US seeks ‘constructive, fair’ economic ties with China
The United States seeks a “constructive and fair economic relationship” with China, even as Washington holds firm in defending the country’s national security, Treasury Secretary Janet Yellen said in prepared remarks Thursday.
German automakers fight to defend their turf from Chinese rivals
German automakers have turned up in full force at Shanghai’s Auto Show as they fight to stay on top of consumer trends in the country that will define whether they maintain their market dominance in the electric age both at home and abroad.