Global Economy
S Alam took out Tk 7,000cr loan from Social Islami Bank
Chattogram-based business conglomerate S Alam Group took out around Tk 7,000 crore from Social Islami Bank, which is over 18 percent of the total outstanding loans of the cash-strapped commercial lender.
27 progress to world stage of Nasa Space Apps Challenge
The Bangladesh phase of 11th edition of the Nasa Space Apps Challenge 2024 concluded on Sunday with 27 winners.
China to flesh out economic stimulus plans after bumper rally
Top Chinese economic policymakers are expected to flesh out a raft of growth-boosting policies on Tuesday, after the announcement of long-awaited stimulus measures last month sparked a blistering stock market rally.
Analysis / China’s consumers regain some lost lustre
Amid slowing growth and a property downturn, domestic demand has remained anaemic for much of the year: retail sales rose only 2.1 percent in August, missing analyst forecasts of 2.5 percent
Sri Lanka's leftist government secures $200m World Bank loan
The loan announced on Monday, which follows an earlier $500 million World Bank loan after the 2022 economic crash
UK pay growth weakest since February 2021, REC survey show
The Recruitment and Employment Confederation and KPMG said on Monday their measure of growth in starting pay for people hired to permanent roles hit its lowest since February 2021
Oil prices dip after strongest weekly rise in over a year
Brent crude futures fell 31 cents, or 0.4 percent, to $77.74 per barrel by 0435 GMT. US West Texas Intermediate crude futures slipped 20 cents, or 0.27 percent, to $74.18 per barrel
Samsung's profit recovery seen weakening in Q3
Operating profit for Samsung likely stood at 10.33 trillion won ($7.67 billion) in the quarter ended Sept 30
Gold price rises
Gold prices rose 1 percent on Friday as US Treasury yields fell on optimism for an interest rate cut by the Federal Reserve in September after data showed US prices rose modestly in June.
India wants to be China’s gateway to the West
India is warming up to its northern neighbour. The South Asian country’s annual economic report recommends courting investment from China rather than integrating into the country’s supply chains. That lays out a way for companies from Shein to BYD to keep selling in Western markets despite rising suspicion towards the People’s Republic. Much depends on how the Sino-American trade war plays out.
Govt to waive port demurrage for RMG raw materials
The shipping ministry yesterday announced that it would waive demurrage charges for imported containers carrying accessories and raw materials for the readymade garment sector which could not be delivered from the Chattogram port as operational activities were hampered for the past seven days.
Window stays open to keep lending rates at low level
There is a lot of talk over a recent hike in interest rates but there is still scope to keep lending rates at a low level, said Md Afzal Karim, managing director of Sonali Bank.
NBR misses revenue target for 12th year
The National Board of Revenue (NBR) has fallen short of its revenue collection target for the 12th consecutive year, with experts opining that the existing framework for tax collection is inadequate.
The cost of crisis: Who will bear it?
Violence comes with a hefty price tag for the economy. Beyond the immediate death toll mostly in police shootings, the convulsion of violence that gripped Bangladesh in the middle of this month has left a debilitating impact on the economy.
Banks asked to hike USD rate for inward remittance
The move was taken to boost remittance inflow
Mitsubishi to join Honda-Nissan alliance
Japan's Mitsubishi Motors is set to join an alliance between Honda Motor and Nissan Motor, creating a tie-up between automakers with combined sales of more than 8 million vehicles, the Nikkei newspaper said on Sunday
Donald Trump may dent but not dethrone King Dollar
Donald Trump says he wants to reverse the strong dollar policy which has underpinned the US economic framework since the early 1990s
Singapore named safest city for tourists, Caracas in Venezuela labelled most risky
Research by Forbes Advisor will be of great interest to travellers who dream of visiting exotic destinations without putting their safety at risk.