Global Business | The Daily Star
  • New Zealand economy cools

    New Zealand's economy grew at a slower pace in the first three months of the year amid a fall in construction activity, official data released Thursday showed, with economists tipping no near-term interest rate hikes.

  • Washington's 'capricious' trade actions will hurt US workers, China warns

    China's commerce ministry on Thursday accused the United States of being “capricious” over bilateral trade issues, and warned that the interests of US workers and farmers ultimately will be hurt by Washington's penchant for brandishing “big sticks”.

  • Dollar scales 11-month peak

    Simmering trade and political tensions and a pumped-up dollar weighed on world shares on Thursday, while oil prices were under pressure before an Opec meeting expected to increase the world's supply of crude.

  • Bosch to invest $250m in India over next 3yrs

    German auto parts maker Bosch Group plans to invest 17 billion rupees ($250 million) in India over the next three years to meet growing demand in the domestic automotive market, Chief Executive Officer Volkmar Denner said on Wednesday.

  • India hits back at US with higher import tariff

    India has increased the customs duty on several goods, including Bengal gram, lentils and artemia—a kind of shrimp—imported from the United States with effect from August 4.

  • Asia business sentiment slips from 7-year high: survey

    Business confidence among Asian companies slipped for the first time in three quarters, on mounting worries that U.S. President Donald Trump's protectionist policies would trigger tit-for-tat reprisals and undermine the global trading system.

  • Trade tensions build as Daimler warns on sales

    Mercedes-Benz maker Daimler shocked investors on Thursday with a warning that trade tensions were hitting sales, while fears of a “tit-for-tat” trade war grew as Europe readied retaliatory tariffs against the United States.

  • Deutsche Bank fined $205m in US for forex manipulation

    US officials fined embattled German banking giant Deutsche Bank $205 million in a settlement to resolve foreign exchange market manipulation violations, New York's top banking regulator announced Wednesday.

  • IMF okays $50b aid package for Argentina

    The International Monetary Fund on Wednesday formally approved a $50 billion aid package intended to help Argentina confront inflation, budget deficits and a weakening currency.

  • EU ready to open talks with US to fix trade row

    The European Union is ready to engage with the United States to solve a trade row triggered by its decision to impose tariffs on European metals, EU Trade Commissioner Cecilia Malmstrom said on Thursday.

  • Turkish Airlines may expand operations

    Turkish Airlines is planning to raise the number of flights from Dhaka, drawn by Bangladesh's growing number of upwardly mobile population, said a top official of the airline.

  • Brexit could make UK car sector 'extinct': business lobby

    The president of Britain's main business lobby on Wednesday warned that the country's car industry risked "becoming extinct" outside the EU's customs union.

  • India airlines spread their wings to escape airfare war at home

    Indian airlines are turning to the international market in search of better returns as the intensifying fight for a bigger share of the world's fastest growing domestic market - where price is king - drives down profits.

  • World Cup set to be lean for sportswear makers

    Although World Cup teams will be as boldly emblazoned with logos as ever, sportswear makers see little hope this year of repeating sales leaps that greeted past tournaments in iconic football nations like Germany and Brazil.

  • Growing Islamic finance firms lobby Britain for tax relief

    Firms involved in Islamic finance are lobbying the British government for tax reforms, arguing that the treatment of some sharia-compliant structures is hindering their growth.

  • India sells new season cotton crop to China in rare advance deals

    India's cotton exporters have signed contracts to ship 500,000 bales (85,000 tonnes) of their new season harvest to China as the world's biggest consumer of the fibre looks to raise its imports in the next crop year, industry officials told Reuters.

  • Italy, trade worries bite into German growth forecast

    The DIW economic institute has slashed its growth forecast for Germany due to an unexpectedly weak start to 2018 and risks from abroad including concerns about Italy's new government and the escalating trade conflict with the United States.

  • Bitcoin sinks to two-month low as downtrend persists

    Bitcoin fell to a two-month low on Tuesday, sliding in three of the last four sessions on nagging regulatory and security concerns after the weekend hacking of South Korean cryptocurrency exchange Coinrail.

  • Tesla cuts 9pc of workforce in search for profit

    Electric car maker Tesla Inc is cutting several thousand jobs across the company as it seeks to reduce costs and become profitable without endangering the critical production ramp-up for its Model 3 sedan.

  • Oil prices drop as supplies increase

    Oil prices fell on Wednesday, hit by rising supplies in the United States and expectations that producer group Opec could relax voluntary output cuts.

  • Rupee to rebound but path rife with pitfalls

    The Indian rupee will erase some of this year's losses against the dollar over the coming 12 months but high volatility in the run up to general elections in 2019 could send it off-piste, a Reuters poll found.

  • Toyota to invest $1b in Southeast Asian ride-hailing firm Grab

    Toyota Motor Corp has agreed to invest $1 billion in Southeast Asian ride-hailing firm Grab as a lead investor in the company's ongoing financing round, which was launched after it bought the regional business of Uber Technologies Inc.

  • Investors wipe $3b off China's ZTE as US settlement sinks in

    Investors wiped about $3 billion off embattled Chinese telecommunications giant ZTE Corp's market value as it resumed trade on Wednesday after agreeing to pay up to $1.4 billion in penalties to the US government.

  • UK top court makes landmark ruling on 'gig economy' plumber

    Britain's Supreme Court on Wednesday ruled that a plumber employed in the so-called gig economy had "worker" status in a landmark case that could have major implications for the booming sector.

  • French privatisations as Macron 're-thinks' state's role

    The French government has announced the first major privatisations under President Emmanuel Macron which will be used to finance a new innovation fund and pay down the country's public debt.

  • Airlines adjusting hedges, fares, capacity, fleet as oil price jumps

    Airlines are locking in fuel hedges, lowering capacity, raising fares and retiring older jets to cope with rising costs alongside the highest oil prices since 2014, industry executives say.

  • Microsoft says buying GitHub for $7.5b

    Microsoft on Monday said it will buy software development platform GitHub, in a deal worth $7.5 billion.

  • Japan Airlines to expand budget carrier's fleet after 2020 launch

    Japan Airlines Co Ltd hopes to expand the fleet of a new low-cost carrier by two jets a year after it launches in mid-2020, a director of the airline said on Monday, as it takes on rival ANA Holdings Inc's budget arm Peach.

  • BHP process to unload US shale operations could take until 2019

    The planned exit of BHP Billiton Ltd from its US shale business has drawn oil companies and private equity firms into a competition that may have no clear winner until late this year or early next year, according to people familiar with the negotiations.

  • Vegetable prices jump in India as farmers go on strike

    Vegetable prices jumped as much as 10 percent in major Indian cities, including Mumbai and Delhi, as a four-day old strike by millions of farmers curtailed supplies.