Global Economy
Boeing plans to launch effort to raise over $15 billion in capital as early as Monday, source says
The new capital is set to come from a mix of the sale of stock and convertible preferred shares, the source added, saying the total amount raised could rise based on demand.
Oil prices tumble as Iran fears ease, yen weakens after Japan polls
Oil prices fell as much as five percent in early trade before paring some of their losses
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.
Global economy set for weakest growth since 1990, IMF chief warns
The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain at around 3% for the next five years, Managing Director Kristalina Georgieva said on Thursday, flagging increased downside risks
Opec+ in driver’s seat as oil supply growth lags demand
The surprise oil output cuts announced on Sunday by Opec+ members illustrate their greater power over the market, given limited supply growth by other producers such as US shale firms and still-growing demand despite the energy transition.
Dollar mired near two-month low
The dollar wallowed near two-month lows on Wednesday after weak data supported the view that the Federal Reserve may not need to raise rates much further, while the New Zealand dollar hit two-month highs after a larger-than expected rate hike.
India’s services growth loses some steam in March
Growth in India’s dominant services industry eased last month from February’s 12-year high due to a softer expansion in demand, according to a private survey, which also showed input cost inflation falling to its lowest since September 2020.
India’s power output surges
India’s power generation grew at the fastest pace in over three decades in the just-ended fiscal year, a Reuters analysis of government data showed, fuelling a sharp surge in emissions as output from both coal-fired and renewable plants hit records.
Bangladesh yet to utilise Japan’s China Plus One policy
In 2008, the Japanese government announced the “China Plus One” policy, focusing on relocating its sunset industries from China to other countries.
Oil posts gains
Oil prices rose on Tuesday after Opec+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the impact of higher prices on the global economy.
Deal signed on potato export to Russia
State-run Bangladesh Agricultural Development Corporation (BADC) yesterday signed a memorandum of understanding (MoU) with National Group, a private entity in Russia, for the export of potato to Russia, according to the agriculture ministry.
US shrugs off Saudi-led oil output cut
President Joe Biden on Monday shrugged off a sharp output cut by Saudi-led Opec+ oil producers, while the White House criticized the move but said it would be of limited impact on the US economy.
China reopening boosts growth outlook of developing Asia
Developing Asia will grow faster than previously thought this year, underpinned by a stronger-than-projected rebound in China, but risks from global banking turmoil could weigh on the outlook, the Asian Development Bank (ADB) said on Tuesday.