Global Economy
Korea to give $814.91m for rail and road bridge
South Korea is set to provide a loan of $814.91 million to Bangladesh for the construction of a rail and road bridge across the Karnaphuli river at the Kalurghat point in Chattogram.
H&M net profit jumps 52% in second quarter
H&M posted on Thursday a 52-percent jump in net profit for the second quarter as the world’s second biggest fashion retailer pressed on with efforts to control costs.
Fitch downgrades Maldives, warns of default
International credit rating agency Fitch downgraded the Maldives Wednesday and warned that South Asia’s tourist paradise could be headed for a sovereign default on its foreign loans.
Sri Lanka’s creditors demand deal details, including with China
Sri Lanka’s bilateral lenders who agreed to restructure close to $6 billion in loans have demanded “comparability of treatment” with other creditors, including China.
Analysis / Banks grab AI-generated tiger by the tail
For such a seismic force like AI,there’s little tangible sign yet that shareholders believe in the prospective value uplift for the industry.
Ratings agency Fitch downgrades Maldives, warns of default
International credit rating agency Fitch downgraded the Maldives Wednesday and warned that South Asia's tourist paradise could be headed for a sovereign default on its foreign loans
Bangladesh’s GDP to grow 5.7% in FY25
Bangladesh's gross domestic product (GDP) growth will decrease to 5.7 percent in 2024-25 from 5.8 percent in the current fiscal year while inflation will ease to 8 percent, according to the Mastercard Economic Institute (MEI).
H&M net profit jumps 52% in second quarter
Chief executive Daniel Erver said the company had achieved its "best profit and cash flow for many years" in the April-to-June period, with profit after tax reaching five billion Swedish kronor ($473 million).
BYD says to build second EU factory despite EV slowdown
Chinese electric vehicle giant BYD is still committed to building a second factory in Europe and will roll out hybrid cars as the EV market slows down, a group executive told AFP
Banks say growing reliance on Big Tech for AI carries new risks
The boom in artificial intelligence will increase banks' dependence on big US tech firms, creating new risks for the industry, European banking executives said
ECB still has 'long way to go' to tame inflation: Lagarde
The European Central Bank (ECB) still has "a long way to go" to tame inflation, its president Christine Lagarde said Friday, a day after the body announced its first interest rate cut since 2019.
Bangladesh got elected as member of governing body of ILO for 2024-2027
The election took place at the 112th session of the International Labour Conference held in Geneva
RMG export to USA falls 14% in Jan-Apr
Shipment to the American market has been falling for high inflationary pressure
Forex reserves decline by $51 million in a week
The reserves hit $18.67 billion on June 5, down from $18.72 billion on May 29
Default loans hit historic high of Tk 1,82,295 crore
Bad loans rose by Tk 36,367 crore in just three months
Nvidia overtakes Apple to become second most valuable company
Microsoft, based in Redmond, Washington, remained the world's most valuable company at $3.15 trillion as its shares climbed 1.9%
Low gas pressure cuts textile production by 65%
Factories in industrial belts need 15 PSI (pounds per square inch) of gas pressure, but are getting a maximum of 3 PSI
McDonald's loses chicken 'Big Mac' trademark battle
Luxembourg-based General Court ruled that McDonald's could not claim protection for the chicken version of its iconic burger, though the original beef one remains trademarked
