7h ago| Global Economy

ECB set to raise rates again

The European Central Bank is likely to raise interest rates again in May after an already signalled hike in March, two policymakers said on Friday, with one arguing that the peak or “terminal” rate is at least starting to appear on the horizon.

7h ago| Global Economy

Oil price falls 3pc

Oil prices fell to over three-week lows on Friday in a volatile session, after strong US jobs data raised concerns about higher interest rates and as investors sought more clarity on the imminent EU embargo on Russian refined products.

7h ago| Global Economy

US unemployment rate lowest since 1969

US job growth accelerated sharply in January while the unemployment rate hit more than a 53-1/2-year low of 3.4 per cent, pointing to a stubbornly tight labour market, and a potential headache for Federal Reserve officials as they fight inflation.

3d ago| Global Economy

Adani abandons $2.5 billion share sale in big blow to Indian tycoon

Gautam Adani's flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.

3d ago| Global Economy

Pakistan court grants bail to Imran Khan aide

An aide to former prime minister Imran Khan was granted bail yesterday, a week after being arrested for allegedly harassing election commission officials.

3d ago| Business

Does Bangladesh ship garments to the Middle East?

Bangladesh ships apparel items to the Middle Eastern countries and the good thing is local garments are steadily gaining popularity in the Middle eastern countries.

February 5, 2023
February 5, 2023

Lanka completing pre-requisites for IMF aid: president

Sri Lanka is completing the pre-requisites to unlock a $2.9 billion bailout from the International Monetary Fund (IMF) and expects rapid approval from the global lender, President Ranil Wickremesinghe said on Saturday.

February 5, 2023
February 5, 2023

Strong India services growth dips in Jan

Robust growth in India’s services industry eased last month after touching a six-month high in December, with softening orders spurring caution in companies’ business outlooks for the year, a private business survey showed on Friday.

February 5, 2023
February 5, 2023

US unemployment rate lowest since 1969

US job growth accelerated sharply in January while the unemployment rate hit more than a 53-1/2-year low of 3.4 per cent, pointing to a stubbornly tight labour market, and a potential headache for Federal Reserve officials as they fight inflation.

February 5, 2023
February 5, 2023

Oil price falls 3pc

Oil prices fell to over three-week lows on Friday in a volatile session, after strong US jobs data raised concerns about higher interest rates and as investors sought more clarity on the imminent EU embargo on Russian refined products.

February 5, 2023
February 5, 2023

ECB set to raise rates again

The European Central Bank is likely to raise interest rates again in May after an already signalled hike in March, two policymakers said on Friday, with one arguing that the peak or “terminal” rate is at least starting to appear on the horizon.

February 4, 2023
February 4, 2023

Weak financial system always a problem for economic management

The immediate outlook for the new year is not as bad as had been predicted before. The Chinese economy is opening up, the industrialised West is adjusting and realigning their economies to the new realities, and a global economic recession does no longer seems inevitable.

February 3, 2023
February 3, 2023

No choice but to agree to tough IMF conditions: Pakistan PM

Prime Minister Shehbaz Sharif on Friday said that the International Monetary Fund (IMF) delegation, which is visiting the country for discussions on the ninth review of a $7 billion loan programme, was giving a "very tough time" to Finance Minister Ishaq Dar and his team.

February 3, 2023
February 3, 2023

3 Adani stocks under additional surveillance

The Indian stock market regulator has put three Adani group companies, including Adani Enterprises, under short-term additional surveillance measure framework (ASM), according to the latest data available with the exchanges on Thursday.

February 3, 2023
February 3, 2023

Asia’s factory activity contracts

Asia’s factory activity contracted in January as the boost from China’s Covid reopening had yet to offset headwinds from slowing US and European growth, surveys showed on Wednesday, underscoring the fragility of the region’s economic recovery.

February 3, 2023
February 3, 2023

Euro hits 10 month-high on dollar

The euro sat at a 10-month high against the dollar on Thursday, ahead of a European Central Bank meeting at which markets expect a half-percentage point rate increase, a day after the US Federal Reserve slowed the pace of its rises to 25 basis points.