Economy

China will fight back against the latest US step to increase tariffs on Chinese goods, the ruling Communist Party’s People’s Daily said on Sunday amid an escalating trade war between the world’s two largest economies. ‘China is confident that it will follow its own path and do...

The revenue authority plans to buy a total of 300,000 sales monitoring devices this fiscal year to bring all shops under an online network and cut the scope for VAT evasion.  The government already gave approval to purchase 100,000 such electronic fiscal devices (EFDs) for Tk 316 crore...

Japan’s core consumer inflation wallowed at a two-year low in July, increasing pressure for the central bank to acknowledge price momentum was slowing and expand its radical stimulus programme. With the global economy hit by the Sino-US tariff war and a pick-up in demand in the second...

The US-China trade war has a new chapter. After Mr Trump announced added tariffs of 10% on the remaining 300 billion US dollars in goods from China, now their application on certain footwear items is delayed to December Yesterday, the Office of the United States Trade Representative...

The cotton and blends spinning industry in India is passing through a big crisis, similar to the situation last seen in 2010-11, resulting in huge job losses, according to the Northern India Textile Mills Association (NITMA). High interest rates, high cost of raw materials, rise in low-priced...

A majority of economists expect a US recession in the next two years, but have pushed back the onset amid Federal Reserve actions, according to a survey released Monday. The survey came out after President Donald Trump pushed back against talk of a looming recession as a...

Trade deficit narrowed down to 15 percent last fiscal year thanks to a decline in imports and steady growth of exports, bringing some breathing room for the government for the time being. In fiscal 2018-19, trade deficit stood at $15.94 billion, down from $18.17 billion a year...

Asian markets rose Thursday on bargain-hunting by investors following a week of heavy losses due to anxiety over the deepening US-China trade war. But tensions remained high, prompting a rush on safe-haven assets such as bonds, gold and the Japanese yen. Bond yields plunged on Wednesday as prices climbed, with the...

Centre for Policy Dialogue (CPD) has decided to set up ‘citizen’s review commission’ on banking in view of what it said the “deteriorating health” of the banking sector and the “inertia” of the government to address the problems pro-actively. This was decided by the Board of Trustees...

Expatriate Bangladeshis sent US$ 1,597.66 million remittances during the first month of the current fiscal 2019-20, which is apparently 21.20 per cent higher than the same period of the preceding year, according to a Bangladesh Bank (BB) data. The country received $1,318.18 million remittances during the July...