Sri Lanka recovering but poverty enduring: World Bank

Crisis-hit Sri Lanka will return to growth this year, the World Bank said Tuesday, but around a quarter of the country's citizens will remain living in poverty
3 April 2024, 09:15 AM

US-China economic flashpoints in Yellen's China trip

As Yellen arrives in China on Thursday, what issues does she face?
3 April 2024, 05:39 AM

World Bank set to issue up to $1 billion in debut hybrid note this year

The World Bank is looking to issue up to $1 billion in a debut hybrid note on capital markets this year, a senior executive told Reuters
2 April 2024, 08:48 AM

India gold prices soar to record high, dampening demand, dealers say

Domestic gold futures rose to 69,487 Indian rupees ($834.07) per 10 grams, up nearly 10 percent so far in 2024
1 April 2024, 07:08 AM

Weak Asian factories take shine off China's rebound

Export powerhouses Japan and South Korea saw manufacturing activities shrink, as well as Taiwan, Malaysia and Vietnam in a sign of the fragile state of the region's economies
1 April 2024, 05:46 AM

India's GDP set to grow 8% or more in Jan-March quarter, finance minister says

India's gross domestic product is on track to grow by 8 percent or more in the quarter ending March 31, Finance Minister Nirmala Sitharaman said on Saturday.
31 March 2024, 11:01 AM

Scooter sales rev up as riders seek comfort

Local retailers post up to 65% rise in monthly scooter sales
30 March 2024, 13:48 PM

India's forex reserves jump to record high

It hit a record high of $642.63 billion as of March 22
30 March 2024, 10:14 AM

Impact of Baltimore port closure on global supply chains

Authorities have warned that extensive work is needed before the major port can reopen following Tuesday's catastrophic cargo ship collision, which has blocked the harbour's entrance.
30 March 2024, 09:54 AM

India mandates weekly reporting on wheat stocks to prevent hoarding

India has asked traders, major retailers and food processors to declare wheat stocks every Friday from April to prevent hoarding and price spikes, the government said on Friday
30 March 2024, 07:16 AM

China reaffirms financial support for Sri Lanka

Sri Lanka's years-long economic crisis was high on the agenda during Gunawardena's trip, with China accounting for around 10 percent of the South Asian country's total foreign debt
30 March 2024, 07:00 AM

Forex reserves keep eroding despite currency swap

Under the currency swap agreements introduced last month, the banking regulator took $1.17 billion from commercial banks and injected around Tk 20,000 crore in the form of local currencies into the banking system, according to several central bankers.
29 March 2024, 00:11 AM

Credit card use slightly up

Customers spent Tk 2,678 crore in Jan this year, up from Tk 2,674 crore in Dec 2023
28 March 2024, 15:27 PM

Forex reserves fall by half a billion in a week

It hit $19.45 billion on March 27, down from $19.98 billion on March 20
28 March 2024, 12:02 PM

H&M's net profit doubles in first quarter

H&M said Wednesday its net profit more than doubled in the first quarter as the world's second biggest fashion retailer worked to control costs
28 March 2024, 11:33 AM

Toyota's global sales slide 7% in February, led by slumps in China and Japan

Toyota's US sales for February surged 16% and in Europe gained 14%, Japan sales tumbled by a third
28 March 2024, 07:31 AM

What is the economic impact of the Baltimore bridge collapse?

With vessel traffic at the Port of Baltimore suspended until further notice since Tuesday's accident, experts warn of knock-on effects but say these should be manageable in the near term
28 March 2024, 06:44 AM

Chinese EV giant BYD announces record annual profit for 2023

BYD recorded a net profit of 30 billion yuan ($4.16 billion) last year, up 80.7 percent year-on-year from 16.6 billion yuan in 2022
27 March 2024, 11:26 AM

China files WTO complaint over US electric vehicle subsidies

The US Inflation Reduction Act (IRA) "formulates discriminatory subsidy policies for new energy vehicles," said China's Ministry of Commerce
27 March 2024, 07:26 AM

Visa, Mastercard reach $30 billion settlement over credit card fees

Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants
27 March 2024, 05:43 AM