India’s central bank governor warned Wednesday that cryptocurrency markets risked causing the next global financial crisis, saying the recent collapse of FTX was proof of the sector’s “inherent risks”.

The Bangladesh Bank today relaxed its term loan repayment policy for non-bank financial institutions (NBFIs), days after it extended more time to the borrowers of banks to pay back loans.

The post-pandemic slump in Australian housing is set to deepen next year as hundreds of billions of dollars of mortgage debt fixed at record low rates in 2020 and 2021 mature, forcing borrowers to refinance at punishingly high interest rates.

China’s Xiaomi Corp has started laying off workers in its smartphone and internet services business, joining a long list of Chinese tech firms cutting jobs as the country battles Covid-19 outbreaks.

Visa yesterday announced that it had started to accept applications for a “Visa Accelerator Programme 2023” from startups in the Asia Pacific region, including Bangladesh, to help them unlock business growth potential and access Visa’s network of partners from the region. 

The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world’s second largest economy.

Malaysians are at their worst financial position in 2022 compared with the last five years, and the looming recession may push them to the brink with dwindling savings coupled with the aftermath of the Covid-19 pandemic.

Oil prices rose on Monday after tumbling by more than $2 a barrel in the previous session as optimism over the Chinese economy outweighed concern over a global recession.

The Indian rupee rose against the dollar on Monday as the greenback declined against its major peers, while forward premiums added to last week’s surge.

China’s business confidence fell to its lowest since January 2013, a survey by World Economics showed on Monday, reflecting the impact of surging Covid-19 cases on economic activity with the abrupt lifting of many pandemic control measures.

India is taking most of Russia’s Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data.

China’s economic activity will likely return to a reasonable range next year after staging a V-shaped moderate recovery this year, underpinned by targeted macro policy support and infrastructure spending along with a steady recovery in consumption, economists said.

Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.

The past year was sobering for investors who poured money into Tesla Inc and rival electric vehicle startups that hoped to emulate Tesla CEO Elon Musk’s success.

Bangladesh is going through some short-term challenges like the rest of the world largely for the external factors but the medium-term prospects for the country remain bright, said Standard Chartered Bank Group Chairman José Viñals. 

Federal Reserve policymakers may need to lift US borrowing costs above the peak 5.1 per cent they penciled in just this week and keep them there perhaps into 2024 to squeeze high inflation out of the economy, three of them signaled on Friday.

India’s $200 billion textile and apparel industry is facing a crisis as consumers in the United States, Europe and other big markets have cut spending on clothing following a surge in inflation after the war in Ukraine, industry officials said.

Germany on Saturday inaugurated its first liquefied natural gas (LNG) terminal, built in record time, as the country scrambles to adapt to life without Russian energy.

Bangladesh now has the ability to clear import payments of four months if the country’s net forex reserves are taken into consideration, the Centre for Policy Dialogue (CPD) said today.

The Bank of England on Thursday hiked its interest rate by half a point to 3.5 percent, the highest level in 14 years, in a bid to cool sky-high inflation.