Global Economy
S Alam took out Tk 7,000cr loan from Social Islami Bank
Chattogram-based business conglomerate S Alam Group took out around Tk 7,000 crore from Social Islami Bank, which is over 18 percent of the total outstanding loans of the cash-strapped commercial lender.
27 progress to world stage of Nasa Space Apps Challenge
The Bangladesh phase of 11th edition of the Nasa Space Apps Challenge 2024 concluded on Sunday with 27 winners.
China to flesh out economic stimulus plans after bumper rally
Top Chinese economic policymakers are expected to flesh out a raft of growth-boosting policies on Tuesday, after the announcement of long-awaited stimulus measures last month sparked a blistering stock market rally.
Analysis / China’s consumers regain some lost lustre
Amid slowing growth and a property downturn, domestic demand has remained anaemic for much of the year: retail sales rose only 2.1 percent in August, missing analyst forecasts of 2.5 percent
Sri Lanka's leftist government secures $200m World Bank loan
The loan announced on Monday, which follows an earlier $500 million World Bank loan after the 2022 economic crash
UK pay growth weakest since February 2021, REC survey show
The Recruitment and Employment Confederation and KPMG said on Monday their measure of growth in starting pay for people hired to permanent roles hit its lowest since February 2021
Oil prices dip after strongest weekly rise in over a year
Brent crude futures fell 31 cents, or 0.4 percent, to $77.74 per barrel by 0435 GMT. US West Texas Intermediate crude futures slipped 20 cents, or 0.27 percent, to $74.18 per barrel
Samsung's profit recovery seen weakening in Q3
Operating profit for Samsung likely stood at 10.33 trillion won ($7.67 billion) in the quarter ended Sept 30
Global factories struggle as demand wanes
Manufacturers across Europe and Asia turned in a weak performance last month as factories grappled with tepid demand, surveys showed on Thursday, raising the risk of an underpowered global economic recovery.
Forex reserves decline by $1.3 billion in a month
Reserves stood at $20.48 billion on July 31, down from $21.78 billion a month ago
Remittance falls 3.2% in July
Banks could not receive any remittance in the five days of countrywide internet blackout this month
Bank of England cuts rate for first time since pandemic
In a tight 5-4 vote, BoE policymakers agreed to reduce borrowing costs by a quarter-point to 5.0 percent, the central bank announced following a regular meeting.
How Africa’s ‘ticket’ to prosperity fueled a debt bomb
Credit ratings were meant to help sub-Saharan countries tap global investors to fund much-needed development. But low scores, heavy borrowing and bad luck have left many struggling with crushing bond debt.
Fed's Powell puts September rate cut on table as US inflation cools
The Fed ended its latest two-day policy meeting with a decision to hold its benchmark interest rate steady in the 5.25%-5.50% range
Ransomware attack hits small banks across India
Nearly 300 small banks have been isolated from the country’s broader payment network to prevent any wider impact, the sources
Oil rebounds after Hamas leader killed in Iran, but China caps gains
Oil prices climbed more than $2 on Wednesday, rebounding from 7-week lows, as the killing of a Hamas leader in Iran ratcheted up tensions in the Middle East and overshadowed concerns about weak China demand
Govt waives seven-day demurrage for importers
The consignments, which have arrived or are scheduled to arrive at the port in between July 16 and August 5 this year, will get the extended benefit
Boeing names new CEO
The company also posted a bigger quarterly loss, as its troubled defense and space business exacerbated the financial strain on the US planemaker that has already scaled back commercial aircraft production to tackle a quality crisis.