Chinese firm to invest $61m in economic zone of Bepza

Chinese company Kaixi Lingerie Bangladesh Company Ltd is going to set up a composite garments factory with an investment of $60.85 million at the Bangladesh Export Processing Zones Authority’s (Bepza) economic zone in Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram.
8 November 2022, 18:00 PM

iPhone shipments from China disrupted by Covid

Apple Inc expects lower shipments of high-end iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted plant in China, dampening its sales outlook for the year-end holiday season.
7 November 2022, 18:00 PM

China trade shrinks amid Covid curbs

China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as a perfect storm of Covid curbs at home and global recession risks dented demand and further darkened the outlook for a struggling economy.
7 November 2022, 18:00 PM

Crystal Grains enters spice market of Bangladesh

Crystal Grains launched its spice brand “Chef’s Choice” in Bangladesh market to make people’s life easier and more comfortable, especially for the working women. 
7 November 2022, 18:00 PM

Oil surges 5pc amid rate hike prospects

Oil prices settled up by more than 5 per cent on Friday amid uncertainty around future interest rate hikes by the US Federal Reserve, while a looming EU ban on Russian oil and the possibility of China easing some Covid restrictions supported markets.
6 November 2022, 18:00 PM

Inflation data, midterm elections loom for struggling US stock rally

A sputtering US stock rally faces a double dose of potentially market moving events next week: US midterm elections and inflation data that could influence the Federal Reserve’s monetary policy.
6 November 2022, 18:00 PM

Investors pile into cash at fastest rate since Covid crisis

Investors put money into cash at the fastest pace at the start of a quarter since the 2020 Covid crisis in the week to Wednesday, as heightened volatility and questions over the US rate outlook triggered a safe-haven dash, BofA Global Research said on Friday.
5 November 2022, 18:00 PM

India’s forex post biggest weekly gain in more than a year

India’s foreign exchange reserves rose to $531.08 billion in the week through October 28, marking their biggest weekly gain since September 2021, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday.
5 November 2022, 18:00 PM

Italy hikes govt borrowing to tackle energy crisis

Italy’s new government unveiled its first public finance targets on Friday, hiking borrowing to finance support measures for families and firms struggling with sky-high energy costs.
5 November 2022, 18:00 PM

Russia seeks sanctions exemptions for state bank

Russia wants the West to ease restrictions on state agriculture lender Rosselkhozbank to facilitate Russian grain exports, according to four sources familiar with the request, made during talks to extend a deal on food shipments from Ukraine.
5 November 2022, 18:00 PM

Turkey’s inflation hits 24-year high

Turkish annual inflation climbed to a new 24-year high of 85.51 per cent in October, official data showed on Thursday, slightly below forecast, after the central bank cut its policy rate despite surging prices.
3 November 2022, 18:00 PM

Dollar drops as optimism spreads before Fed decisions

The US dollar sank from a one-week high against a basket of major peers on Tuesday as the mood in financial markets brightened ahead of Federal Reserve and Bank of England (BoE) meetings this week.
1 November 2022, 18:00 PM

ECB must keep raising rates

The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a euro zone recession has increased, ECB President Christine Lagarde said in an interview published on Tuesday.
1 November 2022, 18:00 PM

US, UAE announce clean energy partnership

The United States announced a clean energy partnership on Tuesday with the United Arab Emirates worth $100 billion, the White House said.
1 November 2022, 18:00 PM

Rupee firms

The Indian rupee advanced on Tuesday as hopes that the US Federal Reserve could slow down the pace of its rate hikes buoyed risk appetite and hurt the dollar.
1 November 2022, 18:00 PM

Biden threatens tax hit for ‘war profiteering’ oil companies

US President Joe Biden said Monday he plans to seek tax penalties for oil companies unless they invest their record profits in lowering consumer costs and boosting production, criticizing their “war profiteering.”
1 November 2022, 18:00 PM

Global wheat prices climb nearly 6pc

Chicago wheat futures jumped almost 6 per cent on Monday and corn rose more than 2 per cent as Russia’s withdrawal from a Black Sea export agreement raised concerns over global supplies.
31 October 2022, 18:00 PM

Middle East seeing gradual slowdown: IMF

Most of the Middle East and North Africa’s non-oil producing economies are experiencing a “gradual slowdown”, the International Monetary Fund said Monday, while resource-rich states are benefiting from high fossil fuel prices.
31 October 2022, 18:00 PM

Gas crisis fears recede for now as Europe stockpiles

With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have eased but experts are warning against complacency.
31 October 2022, 18:00 PM

UAE targets clean projects at 50pc of energy mix by 2050

The United Arab Emirates aims to increase the share of clean energy projects to 50 per cent of its overall energy mix by 2050, state news agency WAM cited its energy minister as saying on Sunday.
30 October 2022, 18:00 PM