Global Economy
Russia sets price floor for wheat at int’l tenders
Russia’s agriculture ministry asked exporters at a closed-door meeting on Friday not to sell wheat by tender to international buyers below a minimum price, two sources with direct knowledge of the matter told Reuters.
India’s 100 richest tycoons surpass $1tn milestone
The collective wealth of India’s 100 richest tycoons surpassed the trillion dollar milestone for the first time as more than 80 per cent of the country’s richest tycoons are now wealthier than they were a year ago, a Forbes report showed on Thursday.
China tees up fresh spending to boost ailing economy
China said Saturday it would issue special bonds to help its sputtering economy, signalling a spending spree to bolster banks, shore up the property market and ease local government debt as part of one of its biggest support packages in years.
IMF approves changes to cut borrowing costs by 36%
The IMF approved reforms on Friday that will lower members’ borrowing costs by 36 percent and lift eight indebted countries out of the requirement to pay more to borrow money.
Russian inflation slows in Sept but still elevated
Inflation ticked lower in Russia in September but was still more than double the central bank’s target, as huge spending on the Ukraine conflict kept upward pressure on prices, official data showed Friday.
EU chief says China must ‘adapt its behaviour’ to solve trade row
China must “adapt its behaviour” to solve an escalating tariff row with Europe, EU chief Charles Michel told AFP Friday, warning of the dangers of the dispute escalating into a full-blown trade war.
US consumer inflation eases to 2.4% in September
US consumer inflation cooled last month -- though slightly less than expected -- according to government data published Thursday, providing further evidence that price pressures are easing ahead of November’s presidential election.
Boeing to cut 10% of workforce as it sees big Q3 loss
Boeing announced that it plans to cut 10 percent of its workforce as it projected a large third-quarter loss amid a machinist strike in the Seattle region.
Russia splashes $12 billion to keep aviation sector in the air
Russia has handed out more than $12 billion in state subsidies and loans to keep its aviation sector afloat since Western sanctions over Moscow's invasion of Ukraine cut off supplies of key parts and maintenance services, a Reuters analysis shows.
Asia feels the sting of India's onion export ban
India's ban on the export of onions has driven up prices of the vegetable for Asian buyers, who are scrambling for cheaper alternatives, particularly as New Delhi is unlikely to lift the curbs before general elections next year.
Toyota recalling 1.12 million vehicles over potential air bag issue
Toyota Motor said on Wednesday it will recall 1.12 million vehicles worldwide because a short circuit in a sensor could cause air bags not to deploy as designed.
Samsung to set up chip packaging research facility in Japan
South Korea's Samsung Electronics will invest around 40 billion yen ($280 million) over five years in a facility for research into advanced chip packaging it will set up in Japan, according to an announcement by the city of Yokohama.
World Bank releases $250 mn to boost Sri Lanka reforms
The World Bank Wednesday released $250 million to support bankrupt Sri Lanka's tough economic reforms
Toshiba delisted after 74 years, faces future with new owners
Toshiba was delisted on Wednesday after 74 years on the Tokyo exchange, following a decade of upheaval and scandal that brought down one of Japan's biggest brands and ushered in a buyout and an uncertain future.
China leaves lending benchmark rates unchanged as expected
China stood pat on benchmark lending rates at the monthly fixing on Wednesday, matching market expectations, after the central bank kept its medium-term policy rate steady earlier last week.
Ctg-based lighter vessel owners announce split from Water Transport Cell
They will operate separately under the Inland Vessel Owners Association of Chattogram
ADB cuts Bangladesh's GDP growth forecast to 6.2%
The Asian Development Bank (ADB) has revised downward the growth forecast for Bangladesh’s economy to 6.2 percent for the current fiscal year ending in June 2024..“This is due to moderate growth in exports and manufacturing amid an economic slowdown in major export markets, power and energy