Global Economy
Bangladesh cuts cash incentive for exporters further
From FY25 beginning today, the maximum rate of export incentive has been set at 10% and the minimum at 0.3%
China factory activity contracts for second month
Factory activity in China shrank for a second straight month in June, data showed Sunday, underscoring the country’s shaky economic recovery ahead of a key political gathering expected to focus on deepening reform.
Payment period for raw material imports extended till Dec
The previously fixed 360-day usance period ended today
Indians battle intense heat with ‘mad rush’ for ACs, beer
Demand for beer in India is at a multi-year high and air conditioner sales are skyrocketing as the intense, unprecedented heat scorching parts of the country becomes a boon for some consumer businesses.
Sri Lanka’s inflation doubles to 1.7% in June
Crisis-hit Sri Lanka’s annual inflation almost doubled to 1.7 percent in June, up from 0.9 percent the previous month, as food prices began rising again, official data showed Saturday.
Gold shines on rate-cut hopes
Gold prices steadied on Friday and were headed for a third straight quarterly gain after a key US inflation report was broadly in line with expectations, boosting hopes that the Federal Reserve could cut interest rates by September.
IMF downgrades US economic forecast for 2024
The IMF said Thursday it expects the US economy to grow a bit more slowly than previously forecast, while praising the way it has remained “robust, dynamic, and adaptable to changing global conditions.”
Indians battle intense heat with 'mad rush' for air conditioners, beer
Demand for beer in India is at a multi-year high and air conditioner sales are skyrocketing as the intense, unprecedented heat scorching parts of the country becomes a boon for some consumer businesses
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
No end in sight: low-income families reel from stubborn inflation
The higher inflation for one of the longest spells in recent decades has left many households in the low-middle-income country with little resources since food costs consist of a much higher share in their consumption basket
Intel unveils new chip tech in AI battle with Nvidia, AMD
US chip titan Intel on Tuesday struck a defiant tone in the face of strong challenges from rivals Nvidia, AMD and Qualcomm, unveiling technologies it said would lead the artificial intelligence revolution
