A new German due diligence law will come into effect from January next year, aiming to bind companies to ensure better human and labour rights in factories and supply chains, said an official of a German development agency.

British retail sales staged only a partial rebound last month after shops closed in September for the funeral of Queen Elizabeth, and they remained below their pre-pandemic level as soaring inflation hits spending power.

Bangladesh’s exports will not be as affected as feared following the United Nations country status graduation from a least developed to a developing nation in 2026, said Senior Commerce Secretary Tapan Kanti Ghosh yesterday. 

British finance minister Jeremy Hunt announced a string of tax increases and tighter public spending in a tough budget plan on Thursday that he said was needed after the blow dealt to the country’s fiscal reputation by former prime minister Liz Truss.

Oil extended declines on Thursday as geopolitical tensions eased slightly and rising numbers of Covid-19 cases in China added to worries over demand in the world’s largest crude importer.

The dollar rose on Thursday as investors digested mixed US economic data, while the British pound changed direction and slipped ahead of the government’s budget update.

Britain’s external deficit is a worry and there are questions over the country’s competitiveness long-term, while the new Italian government’s medium-term fiscal plan appears “realistic”, senior analysts at S&P Global said on Friday.

The German economy ministry has recommended that the sale of a chip factory to a Chinese-owned firm should be blocked as it poses a security threat, government sources said Tuesday.

Pubali Bank Ltd is going to get a fund of $50 million from the British International Investment (BII), the UK’s development finance institution and impact investor, to lend to climate-related projects and boost climate mitigation activities across Bangladesh.  

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.

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.

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.

The Bank of England on Thursday announced its biggest interest rate hike since 1989 to combat sky-high inflation that it warned was pushing Britain into a recession set to last until mid-2024.

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.

Germany’s economy unexpectedly grew in the third quarter, official data showed Friday, but slowing growth in France and Spain added to fears that high inflation and an energy crisis will tip the region into recession.

European Union energy ministers will discuss a bloc-wide gas price cap on Tuesday, attempting to navigate their next steps although it is likely to be weeks before any final decisions.

The Embassy of Denmark in Bangladesh has hosted a five-day exhibition, called ‘Going Green’, at Bay’s Edge Gallery in Dhaka to highlight green solutions that can support sustainable and inclusive economic growth.

Many thought exports from Bangladesh to Russia would come to a halt after the Russia-Ukraine war began in February as the transcontinental nation was slapped with numerous sanctions and embargoes that restrained its import activities.

Higher interest rates are necessary in the eurozone, whose central bank has joined others around the world in hiking rates to cool prices, the head of Germany’s Bundesbank said Saturday.

The pound fell on Friday after under-fire British Prime Minister Liz Truss sacked her finance minister and made a dramatic policy U-turn, while an equity rally ran out of steam.