Global Economy
China factory output expands for first time in six months
In October, China's Purchasing Managers' Index (PMI) -- a key measure of industrial output -- was 50.1, the National Bureau of Statistics (NBS) announced, up from 49.8 in September.
Samsung Q3 operating profits soar to $6.6 bn, miss forecast
The world's largest memory chip maker posted an operating profit of 9.18 trillion won ($6.6 billion) "largely due to one-off costs".
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
India’s forex reserves slip for second week
India’s foreign exchange reserves fell to $562.81 billion in the week through December 23, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.
Rouble hits record low vs dollar
The Russian rouble slumped to an eight-month low against the dollar on Thursday, struggling under the weight of expectations that sanctions on Russian oil and gas may limit export revenues.
Oil trims losses
Oil prices pared losses after falling by over $2 earlier in the session, as a weaker dollar partially offset demand fears resulting from surging Covid-19 cases in China.
Vietnam reports strong economic growth of 8%
Vietnam’s economy grew by eight percent in 2022, driven by strong exports and retail sales, authorities said on Thursday.
How did 2022 go for Bangladesh?
Bangladesh economy was all set at the beginning of 2022 to get its growth momentum back after recovering from the prolonged Covid-19 pandemic. But, the start of the Ukraine war in February slowed the country’s joy run significantly, making it an eventful year to remember. Let’s see how 2022 was for Bangladesh.
Dollar rises vs yen, declines against sterling
The dollar touched a one-week high against the yen on Wednesday, boosted by a jump in Treasury yields and investor expectations for a rebound in Chinese growth as Covid-19 curbs loosen.
Oil prices fall
Oil prices fell on Wednesday as concerns about an upsurge in Covid-19 cases in China, the world’s top oil importer, outweighed expectations easing pandemic restrictions would lead to economic recovery and growth in demand for fuel.
Russian rouble slumps again
The rouble weakened sharply on Wednesday, sliding to the 72 mark against the dollar, as sanctions on Russian oil and their probable impact on export revenues put pressure on the Russian currency.
World economy faces more pain in 2023 after a gloomy year
This was supposed to be the comeback year for the world economy following the Covid pandemic. Instead, 2022 was marked by a new war, record inflation and climate-linked disasters. It was a "polycrisis" year, a term popularised by historian Adam Tooze. Get ready for more gloom in 2023.
German businesses expect mild recession next year
German companies expect only a mild recession next year despite headwinds from the energy crisis, raw material shortages and a tepid global economy, a survey of major associations published by Reuters on Tuesday showed.