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
Indian sugar prices climb
Sugar prices in India have climbed more than 6% in two weeks and are likely to rise further as production is set to fall and demand from bulk consumers to strengthen during the peak summer season, industry officials told Reuters.
Indonesia to propose limited FTA with US
Indonesia will propose a free trade agreement for some minerals shipped to the United States so that companies in the electric vehicle battery supply chain operating in the country can benefit from US tax credits, a senior minister said on Monday.
Gold price slides 1% in global market
Gold prices fell as much as 1 per cent to slip below $2,000 on Monday, after US employment data pointed to a tight labour market, raising expectations of another rate hike by the Federal Reserve in May.
Oil steadies
Oil steadied on Monday, after rising for three straight weeks, as looming supply cuts from Saudi Arabia and other Opec+ producers balanced concern about weakening global growth that may dampen fuel demand.
Debt crunch looms for weaker economies
A combination of sticky high interest rates and lacklustre global growth could push a number of emerging economies that are facing soaring refinancing needs into debt difficulties next year.
Singapore adds more billionaires to Forbes’ richest list
Li Xiting, founder and chairman of Shenzhen Mindray Bio-Medical Electronics, a global provider of medical devices based in China, has again topped Forbes’ list of billionaires in Singapore.
Demand rises in China’s bulk commodity market
China’s bulk commodity market saw improving fundamentals in March with a marked increase in sales as demand rebounded, industrial data showed.
Emirates to offer daily flights to Toronto via Dubai
Emirates is stepping up its frequency with two additional flights per week between Dubai and Toronto after an expanded air transport agreement between the United Arab Emirates (UAE) and Canada.
Rouble hits 12-month low against dollar
The Russian rouble on Friday fell to its lowest rate against the dollar in a year, dipping to 82 rubles to the US unit on the Moscow Stock Exchange (MOEX).
World Bank could lend $50b more over decade with reform: Yellen
The World Bank’s ongoing reform could result in a $50 billion lending boost over the next decade, Treasury Secretary Janet Yellen told AFP ahead of stakeholders’ meetings next week where key changes are expected to be announced.