Global Economy
Dhaka Bank looks to spread its wings to fuel growth
Dhaka Bank is increasingly embracing technologies to serve customers digitally and enhancing its lending to small clients as it redesigns its focus to stay relevant.
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of “unfair” state subsidies, despite Beijing’s warnings the move would unleash a trade war.
China’s BYD opens EV plant in Thailand
China’s electric vehicle giant BYD opened a factory in Thailand on Thursday, continuing its international expansion despite a market slowdown and hours before the European Union was due to impose swingeing tariffs on Chinese EV firms.
Sri Lanka bond holders agree to take 28% haircut: govt
Sri Lanka’s private creditors have accepted a 28 percent haircut on $12.5 billion in sovereign bonds, the government announced Thursday, meeting a key condition of an IMF bailout.
EU governments waver over Chinese EV tariffs as trade spat escalates
EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels’ challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation.
Eurozone business growth slows sharply in June
Overall business growth across the eurozone slowed sharply last month as a solid expansion in the bloc’s dominant services industry failed to offset a further deterioration in manufacturing, a survey showed on Wednesday.
Chinese firm wants to invest $21.85m in Bepza EZ
Chinese company Unicorn Handbag has expressed interest in investing $21.85 million in Bepza Economic Zone (Bepza EZ) in Mirsharai, Chattogram to set up a carry bag and luggage manufacturing industry.
Indian officials visit Foxconn iPhone plant, question executives about hiring
Indian labour officials visited a Foxconn factory in the country's south this week and questioned executives about the company's hiring practices
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
Adani suspected of fraud by selling low-grade coal as high-value fuel to Indian state firm
Reports Financial Times
Maersk lifts 2024 guidance by $3 bn amid shipping woes
Danish shipping giant Maersk on Monday said it expected its profits in 2024 to be $3 billion higher than previous projections as freight rates have increased amid the crisis in the Red Sea
IATA urges Pakistan, Bangladesh to release blocked airline funds
The International Air Transport Association on Tuesday urged Pakistan and Bangladesh to remove barriers to airlines repatriating ticket revenues after Nigeria released the vast majority of blocked funds
Jewellers seek changes to baggage rule
Bangladesh Jeweller's Association (Bajus) wants to put a stop to travellers bringing in gold bars
