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
Bangladesh wants to increase bilateral trade with Iran: Munshi
The commerce minister meets Iranian ambassador
China consumer inflation falls below 1% in March
China’s consumer price inflation fell below one percent in March, official figures showed Tuesday, a sign of weak demand as the world’s second largest economy tries to recover from its pandemic-driven slump.
Deeper financial turmoil would slam global growth IMF warns
The International Monetary Fund on Tuesday trimmed its 2023 global growth outlook slightly as higher interest rates cool activity but warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels.
Bitcoin pushes past $30,000
Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the US Federal Reserve will soon end its aggressive monetary tightening campaign.
Dollar slides against euro and pound
The dollar gave back the previous day’s advances against the euro and pound but held some gains against the yen on Tuesday as traders’ attention turned to US inflation data due on Wednesday for signs of how close US rates are to peaking.
Oil price rises
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in US crude stockpiles.
Chinese airlines on big hiring drive as travel rebounds
Chinese airlines undertaking the biggest hiring drives in more than three years as travel rebounds are facing a deluge of applicants for cabin crew roles as fresh university graduates turn to the relatively high-paying career in a bleak job market.
PC shipments plunge globally
Shipments of Apple Macs plunged during the first quarter of this year as the global personal computer market suffered due to tough economic conditions, market research reports said on Monday.
IMF lowers 2023 global growth forecast to 2.8
The International Monetary Fund slightly lowered its outlook for the global economy today, while predicting that most countries will avoid a recession this year despite economic and geopolitical concerns..The IMF predicted the global economy will grow by 2.8 percent this year and three per
Saudi maintains supply to Asia despite Opec+ cuts
State oil giant Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers despite its pledge to cut output by 500,000 barrels per day, several sources with knowledge of the matter said on Monday.