Why is the US dollar so strong again?

If investors agree on one thing this year, it's that the dollar is going to fall. That's made the greenback's 2 per cent bounce over the last month particularly confusing.
18 May 2023, 08:00 AM

Oil prices steady

Oil prices were steady on Wednesday after a surprise rise in US crude inventories stoked demand concerns as economic worries competed with a tighter supply outlook for later in the year.
17 May 2023, 18:00 PM

US default could trigger recession

US Treasury Secretary Janet Yellen on Tuesday warned that a default on government debt would likely leave millions of Americans without income payments, potentially triggering a recession that could destroy many American jobs and businesses.
17 May 2023, 18:00 PM

IMF official sees ‘sizeable’ upside inflation risks

The International Monetary Fund’s no. 2 official said on Wednesday she sees sizeable risks that inflation will remain high or accelerate in many emerging markets and urged central banks to keep monetary policies tight.
17 May 2023, 18:00 PM

Global debt on the rise

A measure of debt across the globe rose in the first quarter to almost $305 trillion, and the rising cost to service that debt is triggering concern about the financial system’s leverage, a widely tracked study showed.
17 May 2023, 18:00 PM

Japan’s Q1 growth beats expectations

Japan’s economy grew faster than expected in the first quarter, official data showed Wednesday, helped by a recovery in inbound tourism after pandemic border restrictions were lifted.
17 May 2023, 18:00 PM

Euro zone inflation ticks up in April

Euro zone inflation accelerated last month, Eurostat said on Wednesday, confirming preliminary data pointing to increasingly stubborn price growth among the 20 nations sharing the euro.
17 May 2023, 18:00 PM

China’s economic recovery losing steam

China’s April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-Covid recovery.
16 May 2023, 18:00 PM

Per capita income rises in taka, falls in dollar

The country’s per capita income dropped in US dollar value, but in Bangladeshi taka the amount rose by Tk 29,367 in 2022-23 thanks to the exchange rate fluctuations.
16 May 2023, 18:00 PM

India cuts windfall tax on crude

India has cut windfall tax on petroleum crude to zero from 4,100 rupees ($50.13) per tonne, effective May 16, according to a government notification.
16 May 2023, 18:00 PM

German investor mood darkens in May

German investor confidence fell sharply in May, a key survey showed Tuesday, adding to fears of a downturn in Europe’s biggest economy.
16 May 2023, 18:00 PM

UK jobless rate rises

Britain’s unemployment rate rose and there were other signs of less inflationary heat in the labour market in data published on Tuesday, prompting investors to scale back some of their bets on further Bank of England interest rate hikes.
16 May 2023, 18:00 PM

Senior StanChart official visits Bangladesh

Nick Huang, managing director and head of client coverage for Asia at Standard Chartered, recently came to Bangladesh in his first official visit to the country.
16 May 2023, 18:00 PM

Russian oil exports hit post-invasion high: IEA

Russia’s oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by $1.7 billion despite Western sanctions, the International Energy Agency said Tuesday.
16 May 2023, 18:00 PM

Musk tells Tesla staff he must approve all hiring

Tesla Inc (TSLA.O) CEO Elon Musk has said that the company can make no new hires unless he personally approves them, including contractors, according to a copy of the email seen by Reuters.
16 May 2023, 09:06 AM

EU increases 2023 growth, inflation forecasts

The European Commission boosted its 2023 economic growth outlook for the eurozone on Monday but it also raised the inflation forecast for the single currency area.
15 May 2023, 18:00 PM

China’s deposit pile stands in the way of recovery

China’s increasingly urgent efforts to tip its mountain of savings into the economy are running up against depositors shy of all but the safest investments, in the latest sign that weak confidence is holding back post-pandemic spending and growth.
14 May 2023, 18:00 PM

Binance pulls out of Canada amid new crypto regulations

Binance said on Friday it was withdrawing from Canada, weeks after the country issued a series of new guidelines for cryptocurrency exchanges including investor limits and mandatory registrations.
14 May 2023, 18:00 PM

Vietnam shoemaker for Nike, Adidas cuts almost 6,000 jobs

One of Vietnam’s largest shoe manufacturers for brands such as Nike and Adidas will cut thousands of workers at the end of next month, blaming a slump in orders, state media said Saturday.
14 May 2023, 18:00 PM

Exclusive: G7 summit statement to target China's 'economic coercion'

Leaders of the Group of Seven (G7) countries are set to discuss concern about China's use of "economic coercion" in its dealings abroad as part of their larger joint statement next week, according to a US official familiar with the discussions.
14 May 2023, 08:34 AM