Global Economy
Slow growth, high debt taking heavy toll on developing nations: UN
Poorer nations are increasingly struggling to navigate the sluggish global economy, the UN warned on Tuesday, calling for a fundamental rethinking of development strategies.
China files complaint over EU’s new taxes on its EVs
Beijing said Wednesday it had lodged a complaint with the World Trade Organization over the European Union’s decision to impose hefty tariffs on Chinese-made electric cars.
Robi Axiata’s profit rises 78% in Q3
The telecom operator made Tk 188.7 crore in Jul-Sep this year from Tk 106 crore in the same period last year
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.
Most CEOs fear fall in global economic growth
Some 73 per cent of chief executive officers (CEOs) believe global economic growth will decline over the next 12 months, according to the PwC’s annual global CEO survey released yesterday.
Richest 1% grab two-thirds of new $42tr wealth: Oxfam
The top 1 per cent of earners grabbed nearly two-thirds of all the new wealth, or $26 trillion of the $42 trillion, generated since 2020, according to a report by Oxfam International released yesterday.
Dollar on the back foot
The dollar started the week on the back foot, hitting a seven-month low against a basket of major peers in Asian trade before steadying, with the yen in particular focus due to traders’ bets the Bank of Japan will tweak its yield control policy further.
Job growth in South Asia may halve this year: ILO
The growth of jobs in South Asia is expected to nearly halve to 1.6 per cent in 2023 from 3 per cent a year ago, according to a new International Labour Organization (ILO) report released yesterday.
Oil prices drop
Oil prices held near this year’s highs on Monday as easing Covid restrictions in China raised expectations for a demand recovery in the world’s top crude importer.
‘Richest 1% grab two-thirds of new $42 trillion created since 2020’
The richest 1 per cent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 per cent of the world’s population holds, reveals a new Oxfam report today.
Big US banks gird for ‘mild recession’
Major US banks reported mixed fourth-quarter results Friday as executives pointed to the rising odds of a “mild recession,” with inflation and interest rate hikes challenging households and businesses.
Rupee notches best week in 2 months
The Indian rupee strengthened on Friday, posting its biggest weekly gain in two months, as benign US inflation reading reinforced expectations of a smaller rate hike by the Federal Reserve next month.
China’s 2022 growth seen as its lowest in 40 years
China’s economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, analysts said ahead of Tuesday’s GDP announcement.
First ever 10-metre draught vessel enters Ctg port
The Chattogram port today berthed first ever vessel with 10-metre draught and 200 metres in length at a jetty, a big achievement for the port as such ships will fuel import and export of cargo and cut cost.