Business

UK-based bank Standard Chartered has seen its profits slump as it was hit by the impact of the coronavirus pandemic. Underlying pre-tax profit fell 25% to $1.95bn (£1.5bn) for the first half of the year as economic weakness drove up the number of bad loans on its books. The bank’s outlook was also clouded by political unrest in Hong Kong, ...

Nissan’s shares have plunged by 10% in Tokyo trading after warning that it would see a record annual loss. Japan’s second largest carmaker said it expects a $4.5bn (£3.5bn) operating loss this year as the coronavirus hinders its turnaround efforts. The worse-than-expected forecast came as the company predicted its sales will be the lowest in a decade, BBC reported. It’s ...

The Prime Minister’s Development Package (PMDP), announced by Prime Minister Narendra Modi in 2015 for Jammu and Kashmir, has proved to be a breather for the farmers in the Union Territory as the horticulture department has set up apple orchards in Anantnag district to help increase the apple production. The department has lent a helping hand to an apple grower ...

German business confidence rose for the third month in a row in July, a key survey said Monday, as Europe’s top economy bounced back from coronavirus lockdowns. The Ifo institute’s monthly barometer rose to 90.5 points, up from 86.3 in June, beating analyst expectations. “The German economy is recovering step by step,” Ifo president Clemens Fuest said. The index plunged ...

The Trump administration in recent weeks appears only to be fixated on precisely two Chinese firms — TikTok and Huawei, said a Washington-based think tank while suggesting that the United States should be focused more on the expansive operations of Chinese state-owned enterprises that are quietly dominating the sectors of infrastructure, telecommunications, transportation, energy, and financial services globally. China is ...

The US government on Friday announced updated export restrictions on unmanned aerial systems (UAS), a move long sought by the country’s defense industries. “The President has decided to invoke our national discretion to treat a carefully selected subset of MTCR Category I UAS, which cannot travel faster than 800 kilometers per hour, as Category II,” said the White House in ...

Goldman Sachs has reached a $3.9bn (£3bn) settlement with the Malaysian government for its role in the multi-billion-dollar 1MDB corruption scheme. The deal resolves charges in Malaysia that the firm had misled investors when it helped raise $6.5bn for the country’s 1MDB development fund, BBC reported. Prosecutors say billions of dollars were ultimately stolen – including by some of the ...

Bangla Mirror Desk : The London based Curry Life Media Group has launched a new publication dedicated to Curry Chef. This will be the fourth food, hospitality, travel and leisure industry publication to the group. The media group founded Curry Life Magazine, Oriental Food Life, Travel Life and latest addition to the group is the Curry Chef Magazine. The first ...

UK retail sales continued their bounce back in June, as the reopening of shops released pent-up demand. The amount of goods sold last month increased by 13.9%, said the Office for National Statistics (ONS). Online sales continued to go “from strength to strength”, the ONS said, accounting for £3 out of every £10 spent by consumers. Demand at food stores ...

Over 200 Japanese private sector participants have joined a webinar organized by Bangladesh to attract Japanese investments. The ‘Dialogue to Drive Japanese Investments in Bangladesh’ was jointly organized by the Prime Minister’s Office, the International Finance Corporation (IFC) and Japan International Cooperation Agency (JICA) today, said a press release. The advantages and facilities available in Bangladesh were highlighted by top ...