Hong Kong shares open lower By Sun Online Desk | Last Updated: 15th August, 2020, 16:31

The Hang Seng Index slips 0.63 percent, or 158.22 points, to 25,072.45


Hong Kong shares open lower

‘Don’t be complacent’: Economists about robust remittance inflow ‘Don’t be complacent’: Economists about robust remittance inflow

Eid festival and the two percent incentive have also played a big role behind the sharp rise in the inward remittance


US jobless claims drop below 1m in virus first

US jobless claims drop below 1m in virus first

The figures have been subsiding since peaking at 6.9 million in late March


BIDA adds three more services to its One Stop Service BIDA adds three more services to its One Stop Service

Bangladesh Investment Development Authority (BIDA) has added three more services to its One Stop Service


Japan’s 41st ODA loan worth USD 3.2b signed today Japan’s 41st ODA loan worth USD 3.2b signed today

This year’s loan package comprises assistance of seven projects amounting to approximately USD 3.2 billion, the largest ever loan package since its inception in 1974


BB allows opening deposit accounts for NRBs BB allows opening deposit accounts for NRBs

Bangladesh Bank has asked scheduled banks to open deposit accounts for non-resident Bangladeshis 


Well thought-out investment planning helps raise economic growth: WB Well thought-out investment planning helps raise economic growth: WB

The report addresses need to better understand current levels of infrastructure quantity and quality


Canada slaps retaliatory tariffs on US aluminium goods Canada slaps retaliatory tariffs on US aluminium goods

Canada and the US reached a deal last year to lift tariffs on steel and aluminium imports that had been imposed on grounds of "national security"


Uber expanding UK operations Uber expanding UK operations

Uber’s current operation is limited to 40 towns and cities in the UK


Gold price rises above $2,000 for first time ever Gold price rises above $2,000 for first time ever

Investors have moved cash into the precious metal as Covid-19 cases rise in the US and more money is pumped into the global economy


Some people made money on negative oil prices Some people made money on negative oil prices

Also TikTok key money, green structured notes and alternative data

 


 Export earning notches 0.59pc growth in July Export earning notches 0.59pc growth in July

The country’s export earnings witnessed a 0.59 percent growth in July this year compared to July 2019 despite the impacts of the novel coronavirus 


Remittances, forex reserves hit record highs Remittances, forex reserves hit record highs

The foreign currency reserve and inflow of remittances hit the new record in the country in July despite the economic fallout triggered by the COVID-19 pandemic


Norway to provide $1.5 million to support improved ship recycling in Bangladesh Norway to provide $1.5m to support improved ship recycling

There will also be a focus on evaluating the impact of Covid-19 on the ship recycling industry in Bangladesh


World Bank okays $202 mn credit to enhance food storage capacity in Bangladesh WB okays $202 mn credit for Bangladesh

The project is helping Bangladesh address food insecurity in challenging times


India coronavirus: Gold rush as pandemic roils country's economy


Gold rush as pandemic roils India's economy

According to a World Gold Council estimate from last year, total gold reserves across Indian homes were about 25,000 tonnes - the largest in any country


US oil giants report big losses, prepare for longer downturn US oil giants report big losses, prepare for longer downturn

Exxon Mobil reports a loss of $1.1 billion in the second quarter, the biggest since the Exxon-Mobil merger in 1999


Coronavirus: US economy sees sharpest contraction in decades US economy suffers sharpest contraction in decades

Economists have said they expected to see the sharpest drop in the second quarter with recovery thereafter


Work for inclusive societies, economies: UN chief Work for inclusive societies, economies: UN chief

UN Secretary-General Antonio Guterres has urged all to pledge to work for inclusive societies and economies that leave no one behind


Coronavirus: Samsung profits soar on work from home demand Samsung profits soar on work from home demand

The world’s largest maker of smartphones says second quarter operating profits rises 23pc compared to last year


J&K shows roadmap to curb COVID-19, economy recovery: Report 'J&K shows roadmap to curb COVID-19, economy recovery'

Many states in India, as well as other regions in the world, were caught off guard when coronavirus started spreading fast


Bangladesh Bank announces ‘expansionary and accommodative’ monetary policy
‘Expansionary and accommodative’ monetary policy announced

BB Governor Fazle Kabir says the central bank takes a series of instant and proactive policy initiatives to minimise any possible economic losses due to the COVID-19 pandemic


Coronavirus: Nissan shares fall 10pc after record loss warning Nissan shares fall 10pc after record loss warning

The worse-than-expected forecast comes as the company predicted its sales will be the lowest in a decade


Forex reserve hits new record of $37bn Forex reserve hits new record of $37bn

The country’s reserve increased due mainly to the collapse in imports amid the coronavirus pandemic


Coronavirus cost global tourism $320 billion in Jan-May: UN Coronavirus cost global tourism $320 billion in Jan-May: UN

This is "more than three times the loss during the Global Financial Crisis of 2009" 


US sees manufacturing growth ahead of Fed meeting, GDP data US sees manufacturing growth ahead of Fed meeting, GDP data

The jam-packed week of economic news comes as lawmakers in Washington are debating provisions of another stimulus package to follow up on the $2.2 trillion CARES Act passed in March as COVID-19 hit


Coronavirus: Spain races to save tourism as cases surge Coronavirus: Spain races to save tourism as cases surge

Government officials insist the virus is under control and want certain areas to be exempt from the UK self-isolation order, including the Balearic Islands


China could overtake the US as the world’s largest economy by 2024 China could overtake the US as the world’s largest economy by 2024

Asia’s burgeoning middle class is one of the reasons for the continental shift in GDP


German farm hit by virus outbreak German farm hit by virus outbreak

A combine harvester near the small Bavarian village of Germering, southern Germany, in 2018

A combine harvester near the small Bavarian village of Germering, southern Germany, in 2018

 


Federal Reserve convenes as virus puts US recovery on edge Federal Reserve convenes as virus puts US recovery on edge

The two-day meeting beginning Tuesday comes as cases of coronavirus surge again, particularly in the southern and western United States


Bank deposits rise 10.9pc despite corona Bank deposits rise 10.9pc despite corona

However, the deposit growth was 12 per cent in December last year


Sweden unemployment at 22-year high

Sweden unemployment at 22-year high

The seasonally-adjusted unemployment rate among 16 to 64-year-olds reached 9.4% in June, up from 8.6% the previous month


Economy to rebound at the beginning of next calendar year: Tipu Economy to rebound at the beginning of next calendar year: Tipu

Commerce Minister Tipu Munshi said that the economy of the country would rebound at the beginning of the next calendar year


Turkey keen to work for development of SME sector in Bangladesh Turkey keen to work for development of SME sector in Bangladesh

Turkey has expressed interest to work for the development of Small and Medium Enterprises in Bangladesh


Dhaka signs deal with Tokyo to construct, renovate 21 bridges Japan to construct, renovate 21 bridges in Bangladesh

The authorities of Bangladesh and Japan inked an agreement over the construction and renovation of 21 small and large bridges


Coronavirus: South Korea in recession as exports at 57-year low

South Korea in recession as exports at 57-year low

However, authorities in the trade-reliant nation have very little control over exports, ranging from computer memory chips to cars


Bangladesh Bank raises farm loan disbursement target by 8.99pc BB raises farm loan disbursement target by 8.99pc

The disbursement target for the immediate past 2019-20 financial year (FY20) was Taka 24,124 crore


Efforts continue for HR dev in power sector: Nasrul Efforts continue for HR dev in power sector: Nasrul

 State Minister for Power, Energy and Mineral Resources Nasrul Hamid  said on Tuesday efforts would continue to develop human resource


Coronavirus: India's biggest airline IndiGo to cut 10pc of staff India's biggest airline IndiGo to cut 10pc of staff

Airlines across the world have been hit hard by coronavirus-related travel restrictions


Coronavirus: EU leaders start third day of economic recovery talks EU coronavirus economic recovery talks enter third day

Some member states believe the proposed €750bn ($857bn; £680bn) package is too large and should come as loans, rather than grants

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