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.
Indonesia’s crypto market braces for stricter regulation
The Indonesian crypto market is unlikely to improve in 2023, with investors braced for another difficult year amid a new regulatory environment.
Global expos on RMG machinery, allied products begin in Dhaka
Four international trade shows on garment machinery and allied products began at the International Convention City, Bashundhara in Dhaka today.
US banks get ready for shrinking profits
US banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking.
40% German firms fear output decline
Four out of ten German companies expect business to shrink in 2023, a survey by the German Economic Institute (IW) showed on Monday, blaming high energy costs, supply chain issues and the continuing war in Ukraine.
UK curbs energy bill support for businesses
Britain on Monday scaled back its energy bill support for businesses after warning that the current aid level was unsustainable.
UK becoming less attractive for investment
Britain has become less competitive and less attractive to foreign investors as a result of soaring energy costs and recent political turmoil, manufacturers said in an industry survey released on Monday.
German industrial output ticks up
German industrial production recovered slightly in November, official figures published Monday showed, as fears of an energy crisis eased although prospects for Europe’s top economy still looked gloomy.
Dollar slips near seven-month lows
The US dollar on Monday neared its lowest in seven months against other major currencies, after data last week suggested the Federal Reserve could slow the pace of its rate hikes, while China re-opening its borders boosted riskier currencies.
Oil price rises
Oil prices climbed more than 2 per cent on Monday as China’s move to reopen its borders boosted the demand outlook and overshadowed global recession concerns.
Remove complexities for more British investment
Bangladesh will attract more British investment if the existing business-related “complexities” are removed, said Rushanara Ali, the British prime minister’s trade envoy to Bangladesh.