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.
Taiwan’s Evergreen gives up to 52 months’ pay as bonuses
Taiwanese shipping giant Evergreen Marine has rewarded employees with massive year-end bonuses worth between 10 and 52 months of salary each, after posting bumper 2022 profits.
German, S Korean ambassadors visit KEPZ
German Ambassador to Bangladesh Achim Tröster and South Korean Ambassador to Bangladesh Lee Jang-keun visited Korean Export Processing Zone (KEPZ) in Chattogram on Saturday.
Top UK bosses earn average person’s annual wage in days: survey
Britain’s top bosses earned more in the first few days of 2023 than most ordinary workers will all year, a study showed Thursday, as many grapple with a cost-of-living crisis.
China hotels, travel bookings perk up
After three years of dealing with some of the world’s toughest Covid-19 curbs, there are early signs that Chinese consumers are gearing up to go out and spend again, particularly in major cities and tourist hot spots.
Oil settles flat with weekly decline
Oil prices were little changed on Friday as the market balanced a weaker US dollar and mixed US jobs reports, but both crude benchmarks ended the first week of the year lower due to global recession concerns.
Alibaba plans $1b investment in Turkey
Chinese e-commerce giant Alibaba Group Holding Ltd is planning a logistics hub at Istanbul Airport and a data centre near the Turkish capital Ankara with an investment of more than $1 billion, its president, Michael Evans, was cited as saying.
US trade deficit narrows to smallest since late 2020
The US trade deficit narrowed more than anticipated in November on a fall in imports, government figures showed on Thursday, with drops seen in pharmaceuticals and household goods.
China foreign exchange reserves rise to $3.13tr
China’s foreign exchange reserves rose in December, official data showed on Saturday, as the dollar fell against other major currencies.
Auto industry races into metaverse at US tech show
Allowing the driver of an autonomous vehicle to watch a movie, a dealer to sell automobiles from a “virtual” car lot, or an engineer to simulate how a new part fits: the auto industry is getting a tantalizing taste of the metaverse at the huge CES technology show.
India GDP growth to slow to 7% on global headwinds
India’s economic growth will slow to 7.0 percent this financial year, according to official estimates released Friday, as weaker global demand and high inflation weigh on the world’s fifth-largest economy.