Global Business | The Daily Star
  • UK economy advances despite lockdown

    Britain’s economy rebounded slightly in February despite coronavirus curbs while exports of goods to the European Union recovered a bit more, data showed Tuesday, sparking optimism over the outlook.

  • Stimulus for Small Firms: Disbursement to run till June

    Bangladesh Bank yesterday extended the deadline for disbursing a Tk 20,000 crore stimulus package for cottage, micro, small and medium enterprises (CMSME) by another three months to June.

  • Banks to stay closed, ATMs open

    Bangladesh Bank yesterday said banks would have to keep all their branches closed from the morning of April 14 to midnight of April 21 when strict restrictions on movement would be in place as part of its efforts to contain the coronavirus pandemic.

  • Pandemic intensifies financial stability risks

    The ongoing pandemic has exacerbated Bangladesh’s financial stability risks because of high levels of non-performing loans, weak capital buffers, poor bank governance and risk management, the World Bank said in its latest report.

  • After sanctions, Huawei turning to businesses less reliant on high-end US tech

    Chinese telecoms equipment maker Huawei Technologies will invest more in businesses that are less reliant on advanced process techniques, it said on Monday, citing US sanctions that have reduced its access to high-end semiconductors.

  • Fed chair says cyberattacks main risk to US economy

    Federal Reserve chairman Jerome Powell said he was more worried about the risk of a large-scale cyberattack than another financial crisis like that of 2008. The risks of a 2008-like crisis with a need for government bailouts of banks were “very, very low,” the head of the US central bank said during an interview aired Sunday on CBS’s “60 minutes. “ “The world changes.

  • Covid curbs put brakes on India buying

    Physical gold demand in India stalled this week after local prices rebounded from a one-year trough and coronavirus restrictions were imposed, while buyers in other major Asian hubs were also put off by an uptick in prices.

  • Spain trims 2021 GDP forecast as Covid, snow hit economy

    The Spanish government lowered its growth forecast for 2021 on Friday after fresh pandemic restrictions led to a weaker-than-expected first quarter.

  • S Korean battery makers agree $1.8b settlement, aiding Biden’s EV push

    South Korean battery makers LG Energy Solution and SK Innovation Co agreed on Sunday to settle disputes over trade secrets dispute, avoiding a potential setback for US electric-vehicle (EV) ambitions.

  • Bank of America to deploy $1tr for sustainable finance by 2030

    Bank of America said on Thursday it will deploy $1 trillion for its environmental business initiative to push for green finance by 2030, expanding on the $300 billion it had announced for the same project in 2019. The second largest U.S. bank said the latest announcement puts its total commitment to sustainable finance by 2030 at $1.5 trillion.

  • IMF sees Iran economy recovering this year but inflation still on the up

    The International Monetary Fund expects inflation in Iran to rise further this year and called for reforms as the economy recovers from the coronavirus crisis.

  • China is paying a high price for its ban on Australian coal

    China is paying a high price for its unofficial ban on coal imports from Australia, with the cost of domestic and alternative foreign supplies rising for both thermal and coking grades of the fuel.

  • EU proposes six-month tariff freeze with US

    The European Union has suggested that it and the United States suspend tariffs imposed on billions of dollars of imports for six months, EU trade chief Valdis Dombrovskis was quoted as telling Germany’s Der Spiegel on Saturday.

  • Bitcoin above $60,000 again on talk of reduced supply

    Bitcoin rose above $60,000 to approach record highs on the weekend, breaking out of a two-week tight range and propelled by talk of constrained new supplies against evidence of wider adoption.

  • Infrastructure wars: Competitive plays in US, Asia and what drives them

    The big infrastructure plan unveiled by President Joe Biden last week is meant to do more than revive America’s decaying infrastructure and create jobs.

  • China’s antitrust regulator bulking up as crackdown on behemoths widens

    China’s competition watchdog is adding staff and other resources as it ramps up efforts to crack down on anti-competitive behaviour, especially among the country’s powerful companies, people with knowledge of the matter told Reuters.

  • Saudi Aramco in $12.4b oil pipeline deal with EIG-led group

    Energy giant Saudi Aramco said it has struck a 12.4-billion-dollar deal to sell a minority stake in a newly formed oil pipeline business to a consortium led by US-based EIG Global Energy Partners.

  • Greek restaurants on the ropes ahead of tourism restart

    In the trendy Koukaki district, a discus throw from the Acropolis in Athens, owners of restaurants that have survived the virus lockdown are trying to keep themselves occupied as the weather and the noises from government improve.

  • China fines Alibaba record $2.75b for anti-monopoly violations

    China slapped a record 18 billion yuan ($2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years.

  • Amazon’s win in union fight shows harsh realities facing labour movement Inc’s fierce resistance to unionization, skepticism among workers that organizing could get them a better deal and decisions on election parameters all contributed to the apparently lopsided defeat of a labor drive at the company’s warehouse in Bessemer, Alabama, people close to the events said.

  • Canada jobless rate falls to lowest level since pandemic start

    Canada added 303,000 net jobs in March, blowing past forecasts as the unemployment rate fell 0.7 percentage points to 7.5 per cent -- its lowest level since February 2020, the national statistical agency said Friday.

  • Biden aims $1.5tr budget at health, education, social services

    President Joe Biden’s administration on Friday unveiled a more than $1.5 trillion budget proposal that would see funding for health, education and social services eclipse defense spending, in a reversal of his predecessor’s policies.

  • Brazil inflation tops target at 6.1pc

    Brazil’s annual inflation rate broke through the ceiling of the central bank’s target range in March at 6.1 per cent, officials said Friday, adding to headaches for policy makers facing an economic slowdown and rising prices.

  • German industrial output continues to decline in February

    German industrial production dropped for the second month in a row in February after eight months of gains, as the economic impact of the pandemic began to bite, official data showed Friday.

  • China regulators fine Alibaba $2.75 billion for anti-monopoly violations

    Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust fine to be imposed in the country.

  • High stakes at sea in global rush for wind power

    Global competition for offshore wind power is so hot that licence auctions now resemble the oil and gas competitions of just a few years ago, and some of the names are familiar too as global oil majors move aggressively into renewable energy.

  • Tesla scouts for showroom space in India, hires executive for lobbying

    Tesla Inc is scouting for locations to open showrooms in three Indian cities and has hired an executive to lead its lobbying and business efforts ahead of its planned entry into the country, sources familiar with the discussions told Reuters.

  • Global Advertisement Revenue: Gobbled up by giants

    Australia’s recent attempt to make Google and Facebook pay for news content is one of many considered ways to strike a balance in wealth generation between the creative and the tech sectors. The problem statement for that policy was simple: news organisations create unique content; search and social media use the content to invite advertisers to their platforms. As a result, ads get siphoned off from TV and news media to social media -- for every AU$ 100, $81 goes to Google and Facebook.

  • Cambodia starts vaccinating textile factory workers

    Cambodia started on Wednesday to vaccinate workers in its textile industry, concentrating on the $7 billion backbone of its economy to help jump-start a post-pandemic recovery.

  • Samsung Electronics, LG forecast 40pc leaps in Q1 operating profits

    South Korea’s two biggest electronics firms both forecast jumps of around 40 percent in their first-quarter operating profits Wednesday, with coronavirus-driven working from home fuelling global demand for semiconductors and home appliances.