Global Economy
Ifad Autos exporting AC bus to Bhutan
Ifad Autos has become the first local automobile company to export airconditioned (AC) buses assembled in Bangladesh.
AIIB head criticises advanced nations for trade barriers
Asian Infrastructure Investment Bank (AIIB) President Jin Liqun on Saturday criticized advanced economies for creating trade barriers including for renewable energy goods, saying there was “no longer free trade” in the 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
China’s exports rise unexpectedly
China’s exports unexpectedly surged in March, with officials flagging rising demand for electric vehicles, but analysts cautioned the improvement partly reflects suppliers catching up with unfulfilled orders after last year’s Covid-19 disruptions.
US inflation slows in March
US consumer inflation slowed in March, according to data released Wednesday, but remained well above the Federal Reserve’s target despite numerous interest rate hikes over the last year.
Rupee edges up as dollar softens
The Indian rupee made slim gains against the US dollar on Wednesday, as the greenback slipped ahead of a crucial US inflation report that could influence the Federal Reserve’s next policy move.
Russia starts fuel supplies to Iran by rail
Russia started fuel exports to Iran by rail this year for the first time after traditional buyers shunned trade with Moscow, according to three industry sources and exports data.
UK economy set for smaller hit than feared: IMF
Britain now looks set for a shallower economic hit this year than previously thought but remains on course to suffer the sharpest contraction among the world’s big economies, the International Monetary Fund said on Tuesday.
IMF warns of growing global debt fuelled by US, China
Global government debt is on track to reach levels not seen since the height of the Covid-19 pandemic, the International Monetary Fund (IMF) warned on Wednesday.
Gold price rises
Gold prices firmed on Wednesday as the dollar weakened, with investors awaiting the US Federal Reserve’s latest policy meeting minutes and inflation data for signs of how close interest rates are to peaking.
IMF trims India’s growth forecast
The International Monetary Fund (IMF) said on Tuesday that it expects India’s economy to grow 5.9 per cent in the current fiscal year though it warned that turmoil in the financial system will hurt global growth.
Asia may grow faster than developed economies
Asia’s economic growth could outpace developed countries’ by 5 per cent by end-2023 driven by China’s easing of Covid-19 curbs, strong domestic demand and interest rates staying in less-restrictive territory, said Morgan Stanley economists.
Japan proposes industrial hub in Bangladesh
Japan has proposed developing an industrial hub in Bangladesh with supply chains to the landlocked northeastern states of India, and to Nepal and Bhutan beyond by developing a port and transport in the region, officials said on Tuesday.