A 32-member parliamentary delegation of Assam arrived in Bangladesh on a four-day visit yesterday, aimed at improving trade and connectivity between Bangladesh and the north-eastern states of India.

Japanese inflation hit a four-decade high last month, government data showed Friday, fuelled by high energy costs and a weak yen and ramping up pressure on the central bank to move away from its ultra-loose monetary policies.

China has signed a US$2.6 billion worth of commitment to purchase crude palm oil (CPO) and its derivative products from Indonesia, allowing the archipelagic country to secure a trade boost from its number-one trading partner amid global recession.

Oil dropped by about 2 per cent on Friday, logging a second weekly decline, due to concern about weakened demand in China and further increases to US interest rates.

A two-day international leadership summit will begin today in Dhaka to help strengthen economic cooperation within Indian Ocean Rim Association. 

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.

J.P. Morgan economists predict a  “mild recession” in the United States in the back half of next year given expectations for the Federal Reserve to tighten monetary policy further in its battle against inflation.

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.

Germany is keen on strengthening its economic ties with the Asia Pacific region, said German Chancellor Olaf Scholz in his opening address during the 17th edition of Asia-Pacific Conference of German Business (APK) held in Singapore on Monday.

Businesses from Singapore can invest in Bangladesh’s different sectors, including information technology, pharmaceuticals and hospitality, as the south Asian country offers a wide range of facilities to the foreign investors, trade experts said today.

China’s economy suffered a broad slowdown in October as factory output grew more slowly than expected and retail sales fell for the first time in five months, underscoring faltering demand at home and abroad.

India’s annual retail inflation eased to a three-month low of 6.77 per cent in October, helped by a slower rise in food prices and a higher base effect, strengthening bets of smaller rate hikes by the country’s central bank at its meeting next month.

The tax authority has requested the home, cultural affairs and other agencies to ensure payment of source tax from payment of honorarium and other expenses for Bollywood artist Nora Fatehi.

The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months.

The United States is happy for India to continue buying as much Russian oil as it wants, including at prices above a G7-imposed price cap mechanism, if it steers clear of Western insurance, finance and maritime services bound by the cap, US Treasury Secretary Janet Yellen said on Friday.

German Chancellor Olaf Scholz discussed energy and trade ties with Vietnam’s Prime Minister Pham Minh Chinh during a visit to Hanoi on Sunday, the first for a German leader in more than a decade.

With odds of a split US Congress rising, Treasury Secretary Janet Yellen warned that lawmakers’ failure to raise the statutory limit on US debt posed a “huge threat” to America’s credit rating and functioning of US financial markets.

Chinese consumers clutched their wallets tight in this year’s Singles Day and continued seeking relatively economical home brands over pricier expensive labels, as strict COVID-19 curbs and economic uncertainty weighed on the shopping extravaganza.

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.