News Category : World Economic

China is factory gate inflation eases

China's factory inflation slowed in November, a sign demand remains weak amid Beijing's ongoing trade war with the United States, while consumer inflation also flagged, official

Apparel workers to get minimum salary Tk 8,000 from Dec

The minimum wage for the apparel workers across the country announced by the government will be effective from this month, said an official release here today.

France, Germany agree to save EU digital tax

France and Germany jointly agreed a scaled-back version of an EU digital tax Tuesday, that they hoped would break significant opposition to the plan amongst bloc partners. The

Qatar to withdraw from OPEC

Qatar said on Monday it was quitting OPEC from January 2019 but would attend the oil exporter group’s meeting this week, saying the decision meant Doha could focus on cementing

China to widen market access for foreign investors

China will widen market access for foreign investors and step up protection of intellectual property rights, China's president Xi Jinping said on Wednesday ahead of the G20

Maldives says China is building projects at inflated prices

Maldives new finance minister said on Monday that China is executing infrastructure projects at vastly higher prices than originally proposed but the island nation cannot get out

Dolce&Gabbana fiasco shows importance of China market

Do not mess with China and its growing cadre of powerful luxury consumers. Dolce&Gabbana learned that lesson the hard way when it faced a boycott after Chinese expressed outrage

EU endorses Brexit divorce deal

The European Commission chief warned the UK parliament it should not count on any renegotiation ahead of Britain is departure in March, as European Union leaders on Sunday

After building spree, just how much does the Maldives owe China?

One week after taking power, the new government of the Maldives says it has no idea how much it owes China, which has led a construction spree in the tiny Indian Ocean nation, but

NBR collects around 12pc more from tax fair

National Board of Revenue (NBR) has fetched Tk 2468,94,40,895 from the weeklong Income Tax Fair across the country, which is 11.35 per cent higher than the previous year. The

Government to buy Aman rice at Tk 36 per kg

The government will buy 600,000 tonnes of boiled Aman rice at Tk 36 per kg this year. Food Minister Qamrul Islam provided the information to media after a meeting with the

Bangladesh uses submarine cable to connect Sandwip island with national power grid

Bangladesh authorities have connected Sandwip island in the Bay of Bengal with the national power grid using submarine cable. The Power Development Board on Friday said they

US farmers scramble to contain trade-war damage

Clouds crowded the Illinois sky as Nick Harre walked away from his combine at the peak of harvest to join four fellow farmers in greeting some unlikely visitors. Inside a nearby

Fourth industrial revolution is real, present in Bangladesh: Foreign minister

Foreign Minister AH Mahmood Ali has said the fourth industrial revolution or 4IR is something “real and present, even in Bangladesh”. “There is just no point in arguing if

Gulf economy recovering but faces oil volatility

Economic growth in the energy-rich Gulf will recover in 2018 from a contraction last year but remains vulnerable to volatility in crude oil prices, the IMF forecast on

US legislation to urge possible China economic sanctions

US lawmakers will introduce legislation on Wednesday urging a stronger response by the Trump administration to China’s crackdown on minority Muslims, including possible

Calls for open trade to greet Pence as Trump skips ASEAN summit

Asia-Pacific leaders will join the heads of Southeast Asian states this week in Singapore to renew calls for multilateralism and fresh pledges to resolve regional conflicts

Saudi to cut oil output

Saudi Arabia, the world’s top crude exporter, said Sunday it will cut oil output from next month, as major producers held a key meeting to discuss shoring up sliding

Russia clashes with Western oil buyers over new deals

Russian energy majors are putting pressure on Western oil buyers to use euros instead of dollars for payments and introducing penalty clauses in contracts as Moscow seeks

China sees Xi, Trump is G20 meeting to be of ‘great significance’

A meeting between the Chinese and US presidents at the G20 summit will be of "great significance" in resolving bilateral problems, a senior Chinese diplomat said on Thursday, as

Australia Reserve Bank lifts economic growth forecast

Australia is central bank on Thursday said the economy was "performing well" and lifted its growth outlook while keeping interest rates at a record low but warned there were

Bangladesh clears Tk 867 billion 39 projects in one go ahead of election

The government has cleared a record 39 projects at a total estimated cost of nearly Tk 867 billion in one go ahead of the general elections. The government will provide over Tk

China to provide economic aid to Pakistan after more talks

China will provide Pakistan with economic aid but more talks are needed on the details, a senior Chinese diplomat said, after new Pakistani prime minister Imran Khan met Chinese

Bangladesh Bank gives police nod for Community Bank, rejects three other banks

The Bangladesh Bank has approved a new bank for the police, but rejected three other applications. Once Bangladesh Police Welfare Trust’s Community Bank goes into operation, the

Bangladesh to scrap tender to import 50,000 tonnes wheat

Bangladesh is scrapping an international tender to import 50,000 tonnes of wheat, citing higher prices, two officials from the state grains procurement agency said on

A giant in crisis rocked by corruption

Brazil, which holds a presidential runoff election Sunday, is a giant in size and economy, but has been struck by a string of corruption scandals that have rocked its political

Bangladesh starts taking World Bank credit with higher interest rate

Bangladesh has signed a deal with the World Bank for the first-ever loan on 2.5 percent interest while the rate was 0.75 percent until now. The country will have to spend more on

Pakistan tries a new way to pay for a dam: Crowdsourcing

Pav Akhtar is not one to fall for TV donation ads. In fact, he says, he and his siblings jokingly chide their mother for watching them on Pakistani satellite channels at their

Bangladesh has just too many banks

AMA Muhith, the finance minister of the Awami League government which has cleared 10 private banks in as many years in power, thinks Bangladesh’s banking sector has become

Saudi signs $50b deals at Davos in desert despite boycott

Saudi Arabia signed deals worth $50 billion on Tuesday, showing it can still attract investment at a conference boycotted by Western politicians and global business chiefs after

Wall Street greets bitcoin

Bitcoin may be the fraud of the century, depending on whom you believe, or it could be a gold mine for early adopters. Adventurous investors have already bought into the virtual

China economic growth slumps to weakest since 2009, demand ebbs as trade war bites

China is economic growth cooled to its weakest pace since the global financial crisis in the third quarter, raising pressure on Beijing to step up policy support as a years-long

Trade deficit passes $2 billion in first two months of new fiscal year

The increasing trade deficit has hit a significant landmark at the beginning of the new fiscal year. The deficit exceeded $2 billion within the first two months of the fiscal

World Bank pledges more financial support for Rohingyas

Finance Minister AMA Muhith says the World Bank has renewed its pledge to provide the financial support necessary for the needs of Rohingyas. The finance minister had closed-door

Path of thorns : An IMF bailout set to impede Pakistan PM is populist agenda

From cutting power subsidies to forcing currency devaluations that stoke inflation, the hard choices facing Pakistan as it seeks a bailout from the International Monetary Fund or

Khaleda Zia doesn’t understand the meaning of prosperity

Bangladesh will have no chance to prosper if Khaleda Zia returns to power, said Finance Minister Abul Maal Abdul Muhith. “Khaleda Zia is completely unaware of prosperity. The

IMF is Lagarde warns against trade, currency wars, urges fix to global rules

International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries against engaging in both trade and currency wars, saying these would hurt global

Bangladesh beats India in WB is human capital rankings; Sri Lanka shines even brighter

The World Bank Group unveiled a new system on Thursday to rank countries based on their success in developing human capital, an effort to prod governments to invest more

Economics of climate change and innovation

Yale economist William D Nordhaus has spent the better part of four decades trying to persuade governments to address climate change, preferably by imposing a tax on carbon

Tokyo is Tsukiji holds last tuna auction

A buyer inspects fish before the final tuna auction at the landmark Tsukiji fish market, the last day of the market is operations before closing its doors, in Tokyo on 6 October

Asian markets tumble

Asian markets suffered further losses Thursday, hit by mounting fears about the path of US interest rate hikes and the increasingly fraught relations between China and the United

Traders foresee oil at $100 as Iran sanctions loom

Oil traders have piled into wagers that US crude oil could surge to $100 a barrel by next year, a milestone that until recently many considered unthinkable due to record US

Remittance inflow to Bangladesh rises 32% in Sept

The expatriate Bangladeshis have sent home over $1.13 billion in September, an increase of about 32 percent from the same period a year earlier. In the first three months

World Bank forecasts 7% economic growth for FY19

The World Bank has forecast a growth rate of 7 percent for Bangladesh this fiscal year on the back of robust private investment, increased exports and remittance inflows. The

China central bank promises ample liquidity

China’s central bank pledged to maintain its “prudent and neutral” monetary policy and to use multiple tools to keep liquidity ample, as the world’s second-biggest economy

How Shadow Banking Scare Could Derail Indias Growth Story

IL&FS has defaulted on its debt obligations, roiling the capital markets and sparking worries of a credit crunch in the shadow financing sector. Manzoor Ahmad lost his job as an

US would lose out in trade war against the world: ECB

Economic activity in the United States could fall more than two percent within a year if Washington launched a trade war on a wide front, European Central Bank researchers

Fed raises US interest rates, sees at least three more years of growth

The US Federal Reserve raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the US economy would enjoy at least

Govt signs deals with five institutions on low-cost home loans

The government has signed memoranda of understanding with five state-owned financial enterprises to sanction home loans for its employees. Md Jafar Uddin, an additional secretary

2.3 lakh loan defaulters in country, Muhith tells JS

There are 2.3 lakh loan defaulters in the country with the amount of the classified loan soaring to Tk 1,31,666 crore in the banks and financial institutions, Finance Minister AMA

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