Lira hits record low

The Turkish lira hit a record low beyond 20 against the dollar on Friday, ahead of this weekend’s presidential election runoff that will decide whether President Tayyip Erdogan extends his rule into a third decade.
28 May 2023, 18:00 PM

IMF lifts US growth forecast for 2023

The International Monetary Fund slightly raised its forecast for 2023 US economic growth Friday while noting that a slowing economy will likely lead to a small increase in unemployment in 2024.
27 May 2023, 18:00 PM

China steel prices hit three-year low on demand woes

Steel rebar prices in China hit their lowest in three years this week, underscoring flagging growth in the world’s second-largest economy, particularly in its weak property sector.
27 May 2023, 18:00 PM

The end of King Dollar?

Rivalry with China, fallout from Russia’s war in Ukraine and wrangling once again in Washington over the US debt ceiling have put the dollar’s status as the world’s dominant currency under fresh scrutiny.
27 May 2023, 18:00 PM

US, China wrangle on trade issues

The United States and China sparred over trade issues Friday but promised to keep lines of communication open as Beijing’s commerce minister paid a rare visit after a period of soaring tensions.
27 May 2023, 18:00 PM

Dollar hits 2-month high

The dollar pushed to a two-month high against the euro and a six-month peak versus the yen on Thursday, as a resilient US economy led traders to pare their bets on rate cuts this year.
25 May 2023, 18:00 PM

Oil prices up

Oil prices rose on Wednesday after data showed US inventories and fuel supplies tightening and following a warning from the Saudi energy minister to speculators raised the prospect of further Opec+ output cuts.
24 May 2023, 18:00 PM

Chinese company opens $22m factory

ISMARTU Technology BD Ltd, a concern of Chinese mobile assembling company Transsion Holdings, has inaugurated a factory inside Meghna Industrial Economic Zone in Narayanganj yesterday.  
24 May 2023, 18:00 PM

Rupee logs first gain in 5 sessions

The Indian rupee closed higher for the first time in five sessions on Tuesday when investors evaluated hawkish comments from US Federal Reserve officials and progress in the debt ceiling talks.
23 May 2023, 18:00 PM

Indonesia, Iran ink trade pact

Indonesia and Iran signed a trade agreement on Tuesday in Jakarta, where President Joko Widodo hosted his Iranian counterpart Ebrahim Raisi.
23 May 2023, 18:00 PM

Indian economy sustaining recent growth momentum

India’s economy has sustained the growth momentum seen in the last fiscal quarter of 2022/23, while latest inflation outcome has been better than forecast, the Reserve Bank of India said on Monday.
23 May 2023, 18:00 PM

‘Worst yet to come’ for Europe energy shortages

Qatar’s energy minister warned on Tuesday the  “worst is yet to come” for Europe’s oil and gas shortages, saying a warm winter had prevented greater difficulties in recent months.
23 May 2023, 18:00 PM

India’s palm oil imports set to fall to 27-month low

India’s palm oil imports in May are set to fall to their lowest in 27 months as its rare premium other edible oils prompted buyers to cancel cargoes and replace them with soyoil and sunflower oil, dealers and cargo surveyors said on Tuesday.
23 May 2023, 18:00 PM

Interbank dollar rate hits record high

The interbank exchange rate for the US greenback has reached a record high of Tk 108.75 per dollar as Bangladesh continues to face a shortage of the foreign currency.
23 May 2023, 18:00 PM

Half of UK firms to defer investment for tax hike

Almost half of medium-sized British companies plan to delay investment plans due to last month’s rise in corporation tax, a survey published on Monday found.
22 May 2023, 18:00 PM

India’s note withdrawal to improve liquidity

The Indian central bank’s decision to withdraw its highest denomination currency note from circulation is likely to improve banking system liquidity, bringing down recently elevated short-term rates, analysts and bankers said.
22 May 2023, 18:00 PM

Oil price steady

Oil prices were steady on Monday as caution relating to US debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and Opec+ producers.
22 May 2023, 18:00 PM

China keeps rates unchanged

China kept its benchmark lending rates unchanged for the ninth month in May on Monday, matching market expectations, as a weakening yuan and widening yield differentials with the United States limited the scope for any substantial monetary easing.
22 May 2023, 18:00 PM

Abu Dhabi sees $2b in investment opportunities in S Korea

Abu Dhabi organisations have identified about $2 billion of investment opportunities in South Korea after the two sides agreed to expand business ties in January, a joint statement said on Monday.
22 May 2023, 18:00 PM

Underinvestment could trigger oil market volatility

Opec Secretary General Haitham Al Ghais said on Monday that underinvesting in the oil and gas sector could cause market volatility in the long term and imperil growth.
22 May 2023, 18:00 PM