Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Donald Trump follow through on his threat to impose sweeping tariffs on Canadian products, a senior official said Wednesday. Trump has threatened to impose tariffs on products fr
India’s economic growth slowed much more than expected in the third quarter, hampered by weaker expansions in manufacturing and consumption, likely adding pressure on the central bank for interest rate cuts. Gross domestic output in the world’s fifth-biggest economy rose by 5.4 per cen
Japan's former top currency diplomat Masato Kanda has been selected as the next president of the Asian Development Bank, the Manila-based international lender said Thursday. Kanda, 59, currently a special adviser to Japan's prime minister, will take office on Feb. 24, 2025, as the 11th president,
The dollar rallied sharply on Tuesday after US President-elect Donald Trump pledged tariffs on all imports from Canada and Mexico, and additional tariffs on China. Stocks declined, giving back some of the robust gains of the previous session, when they were buoyed by the nomination of fund manager
Short-term inflation in Pakistan, measured by the Sensitive Price Index (SPI), was 4.92 per cent year-on-year in the week ending Nov 21 owing to surging vegetable and edible oil prices, according to Dawn. The SPI-based inflation reversed to a modest increase after three straight weeks of decline o
The International Monetary Fund (IMF) warned on Tuesday that ‘tit-for-tat’ tariffs could undermine Asia's economic prospects, raise costs and disrupt supply chains even as it expects the region to remain a key engine of growth for the global economy. "The tit-for-tat retaliatory tariff
Indonesian President Prabowo Subianto said on Monday that the Southeast Asian country is committed to becoming a member of BRICS, citing its significance to the world's economy. Indonesia formally applied for BRICS membership in October during the 16th BRICS Summit held in Kazan, Russia. Prabowo s
Latin American poverty levels in 2023 fell to a 33-year low, led by progress in Brazil, the United Nations' Economic Commission for Latin America and the Caribbean (ECLAC) said in a report on Tuesday, even as severe inequality persists in the region. ECLAC said Latin America is marked by high ineq
The US dollar rose toward a four-month peak versus major peers on Tuesday, while bitcoin extended its record rally as investors continued to pile into trades seen as benefiting from the incoming Donald Trump administration. The euro languished near an almost seven-month trough reached overnight, a
The Asian Development Bank (ADB) on Monday said it has approved a financing package of 21.95 million US dollars to boost Maldives' capacity to combat the effects of climate change and ensure the sustainability of its food systems. The ADB said in its press release that the financing package compri
World food prices rose in October to an 18-month high as vegetable oils led increases seen in most food staples, United Nations' data showed on Friday. A price index, compiled by the UN Food and Agriculture Organization (FAO) to track the most globally traded food commodities increased to 127.4 po
China has introduced new measures to revive its struggling economy, anticipating potential challenges from a second Trump presidency. The government aims to address substantial local government debt, which risks dampening growth, reports bdnews24.con citing the BBC. Trump’s election platfor
Thailand's economy stands to gain from any US-China trade war, Thai Commerce Minister Pichai Naripthaphan said on Thursday, adding the Southeast Asian country had good relations with both nations and would not need to take sides in a dispute, reports Reuters. In a trade war, US imports of Ch
