StanChart completes Taka-Rupee transaction for Walton

This is the first BDT-INR export transaction for Bangladesh’s electronics industry
18 September 2023, 13:23 PM

Oil rises on supply concerns, China demand recovery

Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer.
18 September 2023, 06:26 AM

Russia raises key rate

Russia’s central bank raised its key interest rate for the third time in two months on Friday as it grapples with higher inflation and a weaker rouble.
17 September 2023, 18:00 PM

PIA struggling to pay bills

Pakistan’s national flag carrier admitted Friday it was struggling to pay bills and wages after local media reports said the fleet may be grounded within days.
17 September 2023, 18:00 PM

Canadian dollar posts big gain

The Canadian dollar weakened against its US counterpart on Friday, but the currency held on to much of its weekly gain as oil prices rose and investors turned attention to domestic inflation data.
17 September 2023, 18:00 PM

Fed unlikely to pause rate hikes

The US Federal Reserve is widely expected to hold interest rates steady on Wednesday after a summer of mixed economic data, while leaving the door open to another hike if needed.
17 September 2023, 18:00 PM

Sri Lanka’s economy shrinks 3.1% in Q2

Sri Lanka’s economy shrank 3.1 percent in the April-June quarter, official data showed on Friday, as the country struggles to claw out of its worst financial crisis in decades.
17 September 2023, 18:00 PM

JP Morgan, ANZ raise China GDP forecast

JP Morgan and ANZ on Friday raised their 2023 economic growth forecast for China, after August economic numbers offered some signs of stabilisation in the world’s second-largest economy.
17 September 2023, 18:00 PM

US renewable energy capacity could triple in 10 years

United States’ annual renewable energy capacity could triple in 10 years to 110 gigawatts (GW) as clean-energy law powers more investment in the sector, research and consultancy firm Wood Mackenzine said on Wednesday.
17 September 2023, 18:00 PM

Eskayef’s 3rd manufacturing unit achieves US FDA approval

It's the first Bangladeshi pharma company to reach the landmark
17 September 2023, 11:28 AM

Western firms shift investment from China to India as worries mount

US and European firms are shifting investment away from China to other developing markets, a report from Rhodium Group showed, with India receiving the vast majority of this redirected foreign capital, followed by Mexico, Vietnam and Malaysia.
17 September 2023, 07:18 AM

Britain hands $621 mln to Tata Steel, 3,000 jobs could go

Britain is to pump 500 million pounds ($621 million) into Tata Steel (TISC.NS) to decarbonise its Welsh site, in a deal aimed at securing the future of the country's steel industry but which puts as many as 3,000 jobs at risk.
17 September 2023, 07:05 AM

Fed unlikely to raise rates in November, says Goldman Sachs

The Federal Reserve is unlikely to raise interest rates at its Oct. 31-Nov. 1 meeting, Goldman Sachs strategists wrote on Saturday, while also forecasting the US central bank would lift its economic growth projections when policymakers gather next week.
17 September 2023, 06:10 AM

Toyota expects record sales in India

Toyota Motor Corp is on track for record annual sales in India, a senior executive told Reuters, as its partnership with Suzuki Motor, which has a portfolio of affordable cars, attracts a new set of buyers.
16 September 2023, 18:00 PM

India’s trade deficit widens in August

India’s merchandise trade deficit in August was wider than expected and stood at $24.16 billion, according to a Reuters calculation based on export and import data released by the government on Friday.
16 September 2023, 18:00 PM

Rupee weakens slightly

The Indian rupee weakened slightly on Friday, weighed by crude marking fresh year-to-date highs but the downside was likely capped by dollar selling orders and expected equity inflows.
16 September 2023, 18:00 PM

Dollar down

The US dollar was lower on Friday, after data showing a dip in consumer sentiment, but the greenback was still poised for a ninth straight week of gains, while the yen weakened to a 10-month low.
16 September 2023, 18:00 PM

Gold price rises 1%

Gold jumped 1 percent on Friday, helped by a weaker dollar and safe-haven buying after United Auto Workers union kicked of strikes at three automakers in Detroit, while hopes around a likely pause in US interest-rate hikes lent further support.
16 September 2023, 18:00 PM

China retail sales surge in August

Chinese retail sales jumped last month, data showed Friday, beating expectations and fuelling hopes that consumers are helping kickstart the world’s second-biggest economy.
16 September 2023, 18:00 PM

EU unafraid of trade war with China

The EU insisted on Friday that its economy could survive any retaliation from China, after Beijing warned that Brussels’ probe into Chinese electric car subsidies would harm trade relations.
16 September 2023, 18:00 PM