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
German inflation to remain high for two years
Inflation is likely to remain high for another two years as companies pass on higher input costs and in some cases exaggerate them, the head of the council of economists that advises the German government was quoted as saying on Saturday.
Tesla suspends production at Shanghai plant
Tesla suspended production at its Shanghai plant on Saturday, according to an internal notice and two people with knowledge of the matter, bringing ahead a previous plan to pause most work at the plant in the last week of December.
India should prepare for headwinds: IMF
India’s future interest rate hikes should be carefully calibrated and its intervention in the foreign exchange market should be limited to managing volatility, the International Monetary Fund (IMF) said on Friday.
Graft charges put Maldives ex-president Yameen in jail
The Maldives criminal court on Sunday sentenced former president Abdulla Yameen to 11 years in prison and fined him $5 million after finding him guilty of corruption and money laundering charges related to receiving kickbacks from a private company.
India's forex reserves snap 5-week rise
India's foreign exchange reserves snapped a five-week rising streak and fell to $563.5 billion in the week through Dec. 16, the Reserve Bank of India's (RBI) statistical supplement showed on Friday.
Canada’s economy slows
The Canadian economy grew by 0.1 per cent in October and is expected to expand at the same pace in November, data showed on Friday, a sign that the full impact of seven consecutive interest rates hikes this year has yet to play out.
Indonesian airports expect 2.5m travellers
The number of passenger movement at 20 Indonesian airports during the Christmas and New Year holiday this year is expected to reach 2.54 million passengers, PT Angkasa Pura II (AP II) predicts, as the state-owned operator readies its service to accommodate the end-of-year peak season.
Japan firms to stop insuring ships in all Russian waters
Three Japanese insurance companies will stop insuring ships for damage in all Russian waters due to the war in Ukraine, potentially affecting Japan’s energy imports including liquefied natural gas (LNG), the Nikkei newspaper said on Saturday.
S&P lowers Pakistan’s credit rating
Global ratings agency S&P Global on Thursday cut Pakistan’s long-term sovereign credit rating by one notch to “CCC+” from “B” to reflect a continued weakening of the country’s external, fiscal and economic metrics.
Oil price rises by $3 per barrel
Oil prices settled about $3 per barrel higher on Friday for a second straight week of gains after Moscow said it could cut crude output in response to the G7 price cap on Russian exports.