Monday , 26 July 2021
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Category Archives: Global Economy

Asian stocks lifted by firmer oil prices; dollar steady Asian stocks crept up on Tuesday thanks to a rebound in oil prices and the dollar consolidated recent gains although underlying risk appetite was cautious on concerns over capital outflows and weak data, especially from China.  Special focus will be on China’s B Share market .SSEB, which was trading up around 0.8 percent on Tuesday after tumbling more than ... Read More »

UK economy ‘faces prolonged weakness’

Global Economy Desk Britain’s economy faces a “prolonged period” of weaker growth as consumer spending slows and business curbs investment, according to a report. Although the EY Item Club think tank predicts the economy will grow 1.9% this year, it expects that performance to fizzle out as inflation rises. The economy’s stability since June’s Brexit vote was “deceptive”, EY said. ... Read More »

BD PM places three-point proposal to link BRICS with BIMSTEC

Prime Minister Sheikh Hasina has proposed three ‘specific’ ways for engagement between economic and technological cooperation groups BRICS and BIMSTEC, reports The ways she has proposed are to develop quality and resilient infrastructure in BIMSTEC member states, to focus on development of science, technology and innovation capabilities, and to hold talks between BRICS and BIMSTEC for sustainable economic development. ... Read More »

South Asia Economic Summit begins Saturday The 9th South Asia Economic Summit (SAES IX) begins tomorrow in the capital Dhaka to give a further boost to the ongoing efforts for strengthening regional cooperation, connectivity and trade among South Asian countries. President Abdul Hamid will inaugurate the summit at Hotel Le Meridian at 2:30 pm when International Affairs Adviser to Prime Minister Sheikh Hasina Dr Gowher ... Read More »

China considers BD as important partner in South Asia: Xi Jinping Chinese President Xi Jinping on his arrival to Dhaka has said that China considers Bangladesh as “an important partner” in South Asia and the Indian Ocean region.  ”We are ready to work with the Bangladeshi side to further deepen our political mutual trust and elevate our relations and practical cooperation to a higher level,” Xi said in a statement ... Read More »

Oil price lifted by Russia’s Opec freeze

BBC Online Russia has said it will support a proposal by Opec to freeze oil production in order to reverse the slump in global prices. The move lifted the price of oil, with Brent crude hitting a one-year high. “Russia is ready to accede to joint measures to reduce (oil) production, and is calling on other oil exporters to do ... Read More »

ECB must tighten screws as soon as justified

   Frankfurt(Germany):         The European Central Bank (ECB) must not allow low interest rates and monetary stimulus to last indefinitely, the head of Germany’s Bundesbank (central bank) said on Monday. “Under no circumstances can interest rates remain so low for longer than is absolutely necessary with regard to price stability,” Bundesbank president Jens Weidmann told a group ... Read More »

Asian stocks waver as policy uncertainty, weaker oil sap confidence Asian stocks wavered on Thursday as investors grappled with the seemingly diminishing ability of major central banks to stimulate growth, while a tumble in crude oil inflamed already heightened risk aversion. Global bond yields have risen in sympathy with depressed sentiment, adding to nervousness over when the Federal Reserve might decide to raise rates. MSCI’s broadest index of Asia-Pacific ... Read More »

Global coal power plans fall in 2016

BBC Online The amount of coal-fired power generation under development worldwide has shrunk by 14 percent this year, driven down by China as it struggles with oversupply and tries to promote cleaner energy, a study showed on Wednesday. India also introduced policies in the first half of 2016 curbing plans for coal-fired plants, partly due to under-utilisation of existing plants, ... Read More »

World economy at risk, says Xi Jinping

BBC Online The global economy is being threatened by rising protectionism and risks from highly leveraged financial markets, Chinese President Xi Jinping said at the open of a two-day summit of leaders from G20 nations.   His warning on Sunday followed bilateral talks with Barack Obama that the U.S. president described as “extremely productive”, but which failed to bring both ... Read More »