Global Economy
US election: What is at stake for Bangladesh’s export
As millions of Americans head to the polls on November 5 to vote for either Democratic Vice President Kamala Harris or her Republican rival Donald Trump, apparel business communities in Bangladesh, more than 13,119 kilometres away from Washington, will be watching the results of the presidential election closely.
Asia’s factory activity stagnates, taking shine off rebound in China
Asia’s manufacturing activity stagnated in October as a rebound in China failed to give much of a boost to regional factories, private surveys showed, a discouraging sign for policymakers bracing for a potential escalation of US-China trade tensions.
Dollar rebounds after weak jobs data; traders eye US election
The dollar rose against the euro and rebounded against most major currencies on Friday after traders digested data showing US job growth slowed sharply in October amid disruptions from hurricanes and strike action by aerospace factory workers.
Apple narrowly beats estimates with boost from iPhone sales
The tech giant saw quarterly revenue of $94.9 billion in the three months ending September 28
US hiring slowest since Biden took office, on strikes, hurricanes
The world's biggest economy added just 12,000 jobs last month, far below expectations and down from a revised 223,000 in September
Outstanding bills: Adani halves power supply to Bangladesh
India’s Adani Power Jharkhand Limited has halved its power supply to Bangladesh, saying it has yet to receive outstanding bills.
US economic growth solid despite slight slowdown
The US economy saw resilient growth in the third quarter despite a modest slowdown according to government data Wednesday, less than a week before inflation-weary voters head into the presidential election.
Anti-Money Laundering / US secret service to train Bangladeshi agencies
60 officials of BFIU, Bangladesh Police, NBR, ACC, BSEC and the Department of Narcotics Control will receive the training
Taiwan’s chip firms to follow new US rules on China
Taiwanese semiconductor companies attach “great importance” to complying with the law, the island’s government said on Saturday, signalling they would comply with new US export controls that aim to hobble China’s chip industry.
India’s fuel demand slips to 10-month low in Sep
India’s monthly fuel demand in September was at the lowest since November 2021, government data released on Friday showed.
US labour market forges ahead
US employers hired more workers than expected in September, while the unemployment rate dropped to 3.5 per cent, pointing to a tight labour market which keeps the Federal Reserve on its aggressive monetary policy tightening campaign for a while.
China nighttime offers profitable opportunities
More policies push to meet appetites for evening consumption in China.
PwC posts 13.4pc rise in revenue
Global professional services firm PwC achieved gross global revenues of $50.3 billion, up 13.4 per cent in local currency and 11.4 per cent in US dollars year-on-year in the 12 months ending on June 30 this year.
Biden to tout IBM’s $20b investment
President Biden on Thursday will tout IBM Corp’s plans to invest $20 billion in New York over the next decade in development and manufacturing of semiconductors, mainframe technology, artificial intelligence and quantum computing.
Oil jumps on cuts to Opec+ output targets
Oil prices held near three-week highs on Thursday after Opec+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020.
Beximco raises 32.5m euros from Dutch bank
Beximco Ltd has raised 32.5 million euros from Dutch financial institution ING Bank in order to expand its knit fabric facility, said a press release today.
Europe's largest economy Germany expects to slide into recession next year
The German government expects Europe's largest economy to slide into recession next year, contracting 0.4% as an energy crisis, rising prices and supply bottlenecks take their toll, two sources told Reuters on Thursday, citing provisional figures.
BGMEA targets making 50% products with recyclable materials by 2030
The garment makers today said they would manufacture half of the apparel products by using recyclable materials by 2030.