Global Economy
Google reports strong growth driven by AI, cloud
The technology giant's net income surged 34 percent to $26.3 billion, while earnings per share increased 37 percent to $2.12
Beijing files WTO complaint over EU's new taxes on Chinese EVs
The extra taxes of up to 35 percent were announced Tuesday after an EU probe found Chinese state subsidies were undercutting European automakers
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.
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.
Japan needs stable, sustained inflation: official
Japanese Deputy Chief Cabinet Secretary Seiji Kihara on Sunday stressed the need to achieve an economy where inflation rises stably and sustainably, when asked whether the next central bank governor should maintain ultra-easy monetary policy.
India to ban China-linked betting, loan lending apps
India’s Ministry of Electronics and Information Technology (MeitY) has begun a process to ban and block 138 betting apps and 94 loan lending apps with Chinese links, India’s ANI reported on Sunday, citing sources.
GDP grows 7.1%, but falls below provisional data
Bangladesh logged higher growth in gross domestic product (GDP) in 2021-22 fiscal year compared to the previous year, but it was 15 basis points below the provisional estimate.
Lanka completing pre-requisites for IMF aid: president
Sri Lanka is completing the pre-requisites to unlock a $2.9 billion bailout from the International Monetary Fund (IMF) and expects rapid approval from the global lender, President Ranil Wickremesinghe said on Saturday.
Strong India services growth dips in Jan
Robust growth in India’s services industry eased last month after touching a six-month high in December, with softening orders spurring caution in companies’ business outlooks for the year, a private business survey showed on Friday.
US unemployment rate lowest since 1969
US job growth accelerated sharply in January while the unemployment rate hit more than a 53-1/2-year low of 3.4 per cent, pointing to a stubbornly tight labour market, and a potential headache for Federal Reserve officials as they fight inflation.
Oil price falls 3pc
Oil prices fell to over three-week lows on Friday in a volatile session, after strong US jobs data raised concerns about higher interest rates and as investors sought more clarity on the imminent EU embargo on Russian refined products.
ECB set to raise rates again
The European Central Bank is likely to raise interest rates again in May after an already signalled hike in March, two policymakers said on Friday, with one arguing that the peak or “terminal” rate is at least starting to appear on the horizon.