China firm to supply batteries to BMW

China’s EVE Energy Co Ltd will supply BMW with large cylindrical batteries for its electric cars in Europe, two people with knowledge of the matter said, as the German automaker follows Tesla Inc in adopting the new technology.
17 August 2022, 18:00 PM

Euro zone Q2 growth revised down slightly

Euro zone economic growth was slightly less robust in the second quarter than forecast but still strong, and employment rose again, revised data from the European statistics office showed on Wednesday.
17 August 2022, 18:00 PM

China cenbank hemmed-in by inflation, Fed jitters

China’s central bank is set to take more easing steps, pressured by a shaky economy that is undercutting jobs, but it faces limited room to manoeuvre due to worries over rising inflation and capital flight, policy insiders and analysts said.
17 August 2022, 18:00 PM

NZ signals intense monetary tightening

New Zealand’s central bank on Wednesday delivered its seventh straight interest rate hike and signalled a more hawkish tightening path over coming months to rein in stubbornly high inflation.
17 August 2022, 18:00 PM

Swedish to get compensation for high power costs

Sweden’s government on Wednesday vowed to compensate households and companies for soaring electricity costs in the wake of the Ukraine war, to the tune of up to 60 billion kronor ($5.76 billion).
17 August 2022, 18:00 PM

Oil prices turn more volatile as investors exit market

Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst global energy crisis in decades as investors become unwilling to deal with persistently high volatility.
17 August 2022, 18:00 PM

Tea garden workers get Tk 400 in daily wages, benefits

Bangladesh Tea Association (BTA) yesterday said tea garden workers get wages and benefits amounting to at least Tk 400 per day. 
17 August 2022, 18:00 PM

Oil prices extend loss

Oil prices extended losses Tuesday but European gas prices hit near six-month highs, in both cases fuelling fears of recession.
16 August 2022, 18:00 PM

Gas prices in Europe may climb 60pc

Russian state gas company Gazprom said on Tuesday that European gas prices could spike by 60 per cent to more than $4,000 per 1,000 cubic metres this winter, as the company’s own export and production continues to fall amid Western sanctions.
16 August 2022, 18:00 PM

Europe gas link to be a reality soon: Spain

Spanish Prime Minister Pedro Sanchez said Tuesday he hopes a gas pipeline linking the Iberian Peninsula to central Europe through France could soon become a reality.
16 August 2022, 18:00 PM

UK jobless rate stable

Britain’s unemployment rate remains close to 50-year lows, but wage values are falling at a record pace with inflation at the highest level in decades, official data showed Tuesday.
16 August 2022, 18:00 PM

US housing starts tumble in July

US homebuilding fell sharply in July, weighed down by higher mortgage rates and prices for materials, suggesting that the housing market could contract further in the third quarter.
16 August 2022, 18:00 PM

Walmart sales surge in Q2

Walmart reported a jump in quarterly revenues Tuesday partly driven by inflation as the retail giant signaled it expects its US sales growth to moderate over the next six months.
16 August 2022, 18:00 PM

China factories ration power as demand soars for heatwave

Chinese lithium hub Sichuan province will ration electricity supply to factories until Saturday, state media reported, as a heatwave sends power demands soaring and dries up reservoirs.
16 August 2022, 18:00 PM

Finland to drastically cut Russian tourist visas

Finland will limit Russian tourist visas to 10 per cent of current volumes as of September 1 due to rising discontent over Russian tourism amid the war in Ukraine, the government said Tuesday.
16 August 2022, 18:00 PM

Russian gas flows to Europe little changed

Russian gas flows to Europe via some major pipeline routes remained at steady, albeit low, levels on Tuesday morning, operator data showed.
16 August 2022, 18:00 PM

Net zero, Russia war driving nascent hydrogen economy

Kevin Kendall pulls up at the only green hydrogen refuelling station in Birmingham, Britain’s second-biggest city, and swiftly fills his sedan with clean gas.
16 August 2022, 18:00 PM

Chinese NYSE delistings to pave way for audit deal with US: analysts

The move to delist five Chinese state-owned enterprises (SOEs) from the New York Stock Exchange (NYSE) could pave the way for Beijing to strike an audit deal with the United States, ending a more than decade-old dispute, analysts and advisers said on Monday.
15 August 2022, 18:00 PM

Japan’s economy stages modest bounce from Covid-19 jitters

Japan’s economy rebounded at a slower-than-expected pace in the second quarter from a Covid-induced slump, data showed on Monday, highlighting uncertainty on whether consumption will grow enough to bolster a much-delayed, fragile recovery.
15 August 2022, 18:00 PM

How China manages refined fuel exports

China’s refined fuel exports are likely to sink in 2022 to the lowest in seven years as the country seeks to maintain ample domestic supplies while refinery output posts a rare decline.
15 August 2022, 18:00 PM