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.
China, US spar at WTO meeting over disputes
China and the United States exchanged sharp criticism at a World Trade Organization meeting on Friday, with Beijing calling Washington a “unilateral bully” and the US accusing its rival of illegal retaliatory measures.
EU cap to limit Moscow’s choice of buyers
A proposed EU price cap on Russian diesel may be high enough to allow Moscow to continue exporting the fuel, but in practice could deter big Asian buyers who have become used to buying cheap Russian crude to refine it themselves, analysts say.
US and EU to launch first ever AI deal
The United States and European Union on Friday announced an agreement to speed up and enhance the use of artificial intelligence to improve agriculture, healthcare, emergency response, climate forecasting and the electric grid.
Global economic view downgraded for this year
Global economic growth is forecast to barely clear 2 per cent this year, according to a Reuters poll of economists who said the greater risk was a further downgrade to their view, at odds with widespread optimism in markets since the start of the year.
Germany to avoid recession this year: govt
Germany is set to narrowly escape a recession this year, the government said Wednesday, as Europe’s biggest economy weathers the fallout from the Ukraine war better than expected.
Adani stocks sink Indian shares
Indian shares fell to their lowest level in over a week on Wednesday, dragged by Adani group stocks after a short seller raised fresh concerns about the group’s debt in a report that had a ripple effect across the market.
Bangladesh an important sourcing destination: Primark CEO
British retail giant Primark’s CEO Paul Marchant has praised the development Bangladesh’s garment sector has achieved in production of apparels in green factories.
Eurozone returns to growth after 6-month crunch
The eurozone economy grew in January for the first time in six months, a closely watched survey showed Tuesday, raising hopes that Europe will avoid a recession this winter.
Euro scales 9-month peak
The euro hit a nine-month peak against the dollar on Monday as comments on European interest rates signalling additional jumbo rate rises contrasted with market pricing for a less aggressive Federal Reserve.
India may cut gold import duty
India plans to slash the import duty on gold because higher taxes have made it more profitable for smugglers, who can offer hefty discounts and denting the market share of banks and refiners, government and industry officials told Reuters.