Global Economy
AO Smith acquires Pureit for $120 million
AO Smith Corporation is a Wisconsin-headquartered global water technology company
Newly formed BWTCC starts allocating serials of lighter vessels
The cell also cuts freight rates by up to 5%
US Fed to debate rate cut in shadow of presidential election
The Fed's two-day rate meeting begins on Wednesday, and is expected to result in a quarter percentage-point rate cut the following day.
China to hash out stimulus plan with US elections in its sights
Beijing has in recent months heeded calls to step up support for the economy after years of inaction, announcing a raft of measures including rate cuts and the easing of some home buying restrictions
Denim Expo begins in Dhaka tomorrow
Bangladesh Apparel Exchange will organise the two-day expo
China's BYD boosts production and hiring amid Q3 growth
BYD posted an 11.5 percent rise in third-quarter net profit as it maintained strong sales momentum.
Recent data has kept Fed rate view, soft landing, intact
Employment data for October was among the weakest of recent reports, with prior months revised lower and only 12,000 jobs added
US election: What is at stake for Bangladesh’s exports
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.
India factory growth dips to 3-month low
India’s factory growth dipped to a three-month low in September due to a moderation in demand and output, despite easing inflationary pressures and strong business confidence, a private survey showed.
Deadline to export hilsa to India extended to Oct 5
The government has extended the deadline for exporting hilsa to India to October 5 following pleas from traders, according to a circular from the commerce ministry yesterday.
Turkey’s inflation hits 24-year high
Turkish inflation jumped to a new 24-year high exceeding 83 per cent in September, official data showed Monday, as President Recep Tayyip Erdogan presses for more interest rate cuts despite surging prices.
RBI sells dollars as rupee slips to record low
The Indian central bank likely sold dollars via state-run banks on Monday as rising oil prices and weak risk appetite pushed the rupee to within striking distance of record lows.
Europe braces for heavy oil refinery outages
A heavy oil refinery turnaround season in Europe this autumn, plus French strike action, is set to push diesel prices higher and tighten supplies ahead of a European Union ban on Russian refined products which is due to come into force early next year.
World factory activity weakens
Global factory output mostly weakened in September as slowing demand added to the pain from persistent cost pressures and tighter monetary policy, surveys showed on Monday, diminishing economic recovery prospects.
Oil jumps $4
Oil prices jumped by about $4 on Monday as Opec+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the Covid-19 pandemic.
China moves to revive housing sector
Chinese local governments may relax the floor on mortgage rates for first-time home buyers in some cities in phases, the central bank said on Thursday, in a bid to prop up property prices and revive a flagging engine of the world’s second-largest economy.
India cuts tax on diesel exports
The Indian government has cut a windfall tax on domestically produced crude oil to 8,000 rupees per tonne from 10,500 rupees per tonne from Sunday, after a decline in global oil prices.
India’s gas oil, gasoline sales surge for festival
Gasoline and gas oil sales by Indian state refiners rose sharply in September from a year earlier, signalling a pick-up in industrial activity ahead of the festive season from this month, preliminary sales data showed.