Global Economy
US finalizes curbs on investing in Chinese tech
The new rules, which take effect on January 2 next year, will prohibit US-headquartered firms, citizens, and permanent residents from engaging in transactions involving cutting-edge technology like semiconductors, artificial intelligence (AI), and quantum computing
HSBC reports $8.5 billion pre-tax profit in third quarter
The rise in pre-tax profit to $8.5 billion reflected a strong performance in its wealth management division as well as higher revenues in global banking and markets, HSBC said in an earnings release.
India’s economic growth to stay strong: poll
India’s economy will grow at a solid pace this fiscal year and next, according to a Reuters poll of economists, but they cautioned that key drivers such as job creation and household spending will only increase mildly over the next 12 months.
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.
German industrial output falls more than expected
German industrial production fell more than expected in December, driven by a plunge in output from energy-intensive sectors, the federal statistics office said on Tuesday.
Adani shares soar 15% after loan pledge
Shares in the flagship firm of troubled Indian conglomerate Adani rose almost 15 percent Tuesday, clawing back some of its recent huge losses after saying it would repay more than $1 billion in loans.
Drug makers face Covid cliff
Pharmaceutical companies that made billions from the pandemic over the past two years selling vaccines and treatments are now up against a steep Covid cliff and investor pressure to spend their windfalls wisely.
‘More China-funded mega projects coming to Bangladesh’
Newly-appointed Chinese Ambassador Yao Wen says in meeting with Planning Minister MA Mannan
55 Bangladeshi firms participate in world’s biggest fair Ambiente
Bangladesh was the second largest participant of the trade show after India among the South Asian nations
China willing to restart trade dialogue with Australia
China’s commerce minister Wang Wentao said talks held on Monday with Australian counterpart Don Farrell were a key step toward bringing bilateral economic and trade ties back on track, with relations improving after being strained in recent years.
Adani sell-off losses top $110b
The crisis engulfing the Adani group intensified on Monday as dozens of members India’s main opposition party were detained by police during protests, and parliament was suspended again due to disruptions over the saga.
Malaysia confident of avoiding recession
Malaysia is confident of achieving positive growth and avoid a recession this year despite having to navigate through global headwinds.
Looser financial conditions pose conundrum for central banks
Central banks aggressively hiked interest rates last year as inflation in many countries rose to the highest levels in decades. Now, falling energy prices are reducing headline inflation and fueling optimism that monetary policy may be eased later this year.
Europe in crossfire of US-China economic rivalry
The economic confrontation between the United States and China has put Europe in the crossfire, with Washington’s plan to boost green industries threatening to cause collateral damage to a key ally.