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AFP, Washington : The US Federal Reserve is all but certain to cut interest rates on Wednesday for the first...
AFP, Colombo : Sri Lanka’s economic collapse was partly blamed on struggling high-debt Chinese mega-projects, but candidates in Saturday’s presidential election are banking on at least one of them to buck the trend. The strategically located Indian Ocean country suffered its worst financial meltdown in 2022, when it ran out of dollars to import essentials, sparking street protests that toppled the then-president Gotabaya Rajapaksa. When the island nation plunged into chaos, CIA chief Bill Burns blamed its economic collapse on...
AFP, Sydney : A 32-year-old “computer geek” from Australia has been arrested on suspicion of being the mastermind behind an...
Business Report : Dhaka Bank PLC received the Trade and Supply Chain Finance Program (TSCFP) Awards 2024 organized by Asian...
AFP, GENEVA : Ngozi Okonjo-Iweala, the first woman and first African to head the World Trade Organization, will seek a...
AFP, Washington : Chip-making giant Intel on Monday said it was delaying its plans to build two mega chip-making factories in Germany and Poland as the company faces lower demand than anticipated. The announcement will come as a major blow to the German and Polish governments that have heavily subsidized the projects and touted them as a boost to their national industry. Intel also said it would pull back on its projects in Malaysia, but said that its US plans...
Reuters, New York : The Fed is expected to kick off a series of rate cuts on Wednesday, after raising borrowing costs to their highest level in nearly two decades. Markets are pricing in roughly 250 basis points of easing by the end of 2025, LSEG data showed. For investors, a key question may be whether the Fed will cut rates in time to avert a potential economic slowdown. The S&P 500 has slumped an average of 4 percent in...
Business Report : The Islamic Development Bank (IsDB) is likely to come up with an overall support of around $4...
AFP, Paris : The market share for electric cars should rebound strongly in 2025 as limits on emissions get stricter and manufacturers propose cheaper models, a study released Tuesday said. Electric vehicles will represent as much as 24 percent of new cars sold in Europe next year, according to a report by think tank Transport & Environment (T&E). “EV sales are expected to rise to 24 percent market share in 2025, supported by an expansion of mass market EV offerings,”...