Efforts to navigate Sri Lanka’s complex debt crisis hit a stumbling block on Tuesday as the government rejected a proposal put forth by international bondholders to restructure over $12 billion in debt. The decision not only jeopardizes crucial International Monetary Fund (IMF) support but also prolongs the island nation’s struggle to resolve a two-year-long […]
Read MoreIn a bid to secure lasting macroeconomic stability and enact crucial structural reforms, Pakistan is gearing up for negotiations with the International Monetary Fund (IMF) to outline the terms of a new loan agreement, Finance Minister Muhammad Aurangzeb revealed to Reuters. With the current $3.0 billion IMF arrangement set to expire in late April, Pakistan […]
Read MoreIn a stark warning reminiscent of a “slow motion train accident,” Jens Eskelund, President of the European Chamber in China, sounded the alarm on Wednesday about the escalating tensions between China and Europe. Addressing concerns at a gathering in Guangzhou, Eskelund emphasized the urgent need for increased dialogue between European and Chinese leaders to prevent […]
Read MoreHong Kong’s accounting watchdog said it will investigate accounting firm PwC for alleged auditing fraud related to bankrupt Chinese developer China Evergrande Group, adding that it would not hesitate to take enforcement action. The Accounting and Financial Reporting Council (AFRC) said in a statement on Friday that it had taken note of the whistleblower’s allegations […]
Read MoreAs the holy Eid-ul-Fitr is approaching, the number of Bangladeshi buyers is increasing in the New Market area of Kolkata and its surrounding markets. In the past few days, it has been seen that the New Market area of Kolkata is not crowded with Bangladeshi tourists. Besides, traders are happy with the spontaneous arrival of […]
Read MoreBy Abdullah Al Masum As China leans towards electric vehicle (EV) manufacturing its internal combustion engine (ICE) vehicles are losing sheen, resulting in more zombie car plants. China has overplayed the West in terms of EV manufacturing but at home it has a new dilemma to tackle – how to manage the rapid decline of […]
Read MoreAt the end of the current fiscal year 2023-24, Bangladesh will rank second in South Asia in terms of gross domestic product (GDP) growth. And India will occupy the highest position. This information was given on Tuesday in a report entitled ‘Bangladesh Development Update’ at the World Bank’s Dhaka office at Agargaon in the capital. […]
Read MoreThe United States is the world’s largest economy in terms of gross domestic product (GDP). China is the second Asian country in this list. However, China wants to overtake the United States as the world’s top economy and take this place by itself. The country is adopting a new strategy for this. According to the […]
Read MoreSince China began liberalizing its economy in 1978, the country’s gross domestic product, or GDP, has been growing at an average annual rate of more than nine percent. The country, which has become the driving force of global growth, only grew by 2.2 percent during the 2020 pandemic, China’s lowest growth record in decades. However, […]
Read MoreWhile China celebrates a rebound in its industrial sector, there’s a stark contrast painted by looming challenges elsewhere in the economy, hinting at a nuanced narrative of recovery. The latest data revealing a surge in manufacturing activity, marked by a 50.8 reading on the official purchasing managers index, underscores a palpable momentum toward economic rejuvenation. […]
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