Economy

Obituary: Ratan Tata, the ‘modest’ Indian tycoon Ratan Tata, who has died aged 86, was one of India’s most internationally recognised business leaders. The tycoon led the Tata Group – known as a “salt-to-software” conglomerate of more than 100 companies, employing some 660,000 people – for more than two decades.…

A garment business tycoon, an owner of a local conglomerate, a celebrated local steel giant, a well-known bank and a woman entrepreneur were felicitated at the 22nd Bangladesh Business Awards (BBA) for their outstanding efforts and landmark achievements in their respective business fields. Finance and Commerce Adviser Salehuddin Ahmed handed…

Air New Zealand has abandoned a 2030 goal to cut its carbon emissions, blaming difficulties securing more efficient planes and sustainable jet fuel. The move makes it the first major carrier to back away from such a climate target. The airline added it is working on a new short-term target…

With China accused of selling electric cars at artificially low prices, the European Union is widely expected to hit them with tariffs this week. The BYD Seagull is a tiny, cheap, neatly styled electric vehicle (EV). An urban runabout that won’t break any speed records, but nor will it break…

The UK economy failed to grow between July and September, figures show, after a succession of interest rate rises. The chancellor said higher rates were hitting growth, but added that the economy had performed better than expected this year. Forecasters suggest the economy is set to be stagnant for several…

About quarter of the US GDP is government expenditure. A drop in that spending will have knock-on effect on the economy. It is probably no surprise that Republican infighting scuttled a stopgap measure on Friday in the House of Representatives, designed to avert a government shutdown on September 30. That…

Hui Ka Yan, the founder and chairman of Chinese property giant Evergrande, was once Asia’s richest person. The 64-year-old, who is also known as Xu Jiayin, rose from a humble upbringing to head a vast business empire. His fortune was estimated at $42.5bn (£34.8bn) when he topped the list of…

IMF Managing Director Kristalina Georgieva hails ‘substantive’ talks with Chinese officials, including Premier Li Qiang. The head of the International Monetary Fund (IMF) has praised “productive and substantive” talks with top officials in China while wrapping up a visit to the country. The IMF warned in July that the overall…

Analysts say food prices in Asia are likely to rise but the fallout will be limited for the time being. Kuala Lumpur, Malaysia – Russia’s withdrawal from the Black Sea grain deal is expected to drive food prices higher in Asia but the impact will be muted for now, analysts say, due…