Global Economy

Global Economy

Forex reserves keep eroding despite currency swap

Under the currency swap agreements introduced last month, the banking regulator took $1.17 billion from commercial banks and injected around Tk 20,000 crore in the form of local currencies into the banking system, according to several central bankers.

7h ago

Credit card use slightly up

Customers spent Tk 2,678 crore in Jan this year, up from Tk 2,674 crore in Dec 2023

15h ago

Forex reserves fall by half a billion in a week

It hit $19.45 billion on March 27, down from $19.98 billion on March 20

19h ago

H&M's net profit doubles in first quarter

H&M said Wednesday its net profit more than doubled in the first quarter as the world's second biggest fashion retailer worked to control costs

19h ago

Toyota's global sales slide 7% in February, led by slumps in China and Japan

Toyota's US sales for February surged 16% and in Europe gained 14%, Japan sales tumbled by a third

23h ago

Analysis / What is the economic impact of the Baltimore bridge collapse?

With vessel traffic at the Port of Baltimore suspended until further notice since Tuesday's accident, experts warn of knock-on effects but say these should be manageable in the near term

1d ago

Chinese EV giant BYD announces record annual profit for 2023

BYD recorded a net profit of 30 billion yuan ($4.16 billion) last year, up 80.7 percent year-on-year from 16.6 billion yuan in 2022

1d ago

China files WTO complaint over US electric vehicle subsidies

The US Inflation Reduction Act (IRA) "formulates discriminatory subsidy policies for new energy vehicles," said China's Ministry of Commerce

1d ago

China’s automakers try turning Japanese

China exported almost $40 billion-worth of pure battery and hybrid cars last year, most of them ended up in Europe

1w ago

India's Adani Green says aware of US probe into third party, denies relationship

India's Adani Green Energy said on Tuesday it is aware of a US investigation into potential violations of anti-corruption laws by a "third party", but denied any relationship with the entity

1w ago

Steel sector’s operational cost rises 65% in a year

Dollar crisis, rise in utility bills taking toll, says Bangladesh Steel Manufacturers Association

1w ago

Forced labour generates $236 billion illegal profits a year: ILO

The illegal profits from forced labour has risen by 37% since 2014

1w ago

Shop owners lambast ‘meaningless’ price fixing of 29 commodities

They demand cancellation of the prices fixed by the Department of Agricultural Marketing on March 15

1w ago

Gold to be Tk 1,750 cheaper from tomorrow

Each bhori 22-carat gold will cost Tk 111,158

1w ago

Palestinian unemployment rate seen spiking to over 50% amid Gaza conflict, ILO says

If the conflict continues until end-March then the unemployment rate will soar to 57 percent, ILO said.

1w ago

Bank of Japan scraps negative interest rate

In its first increase in 17 years, the Bank of Japan said it was lifting its short-term policy rate from -0.1 percent to between zero and 0.1 percent.

1w ago

Pragoti to assemble and sell Kia sedan by this year

It signs deal with representative of Kia Corporation

1w ago

Banks can't impose any fine on supervision charges: BB

New guideline on supervision charge issued

1w ago
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