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China overtakes US as EU’s biggest trading partner

China is now the EU’s biggest trading partner, overtaking the US in 2020. China bucked a wider trend, as trade with most of Europe’s major partners dipped due to the Covid-19 pandemic. Trade between China and the EU was worth $709bn (€586bn, £511bn) last year, compared with $671bn worth of imports and exports from the US. Although China’s economy cratered ...

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Fake Amazon reviews ‘being sold in bulk’ online

Fake reviews for products sold on Amazon’s Marketplace are being sold online “in bulk”, according to Which? The consumer group found 10 websites selling fake reviews from £5 each and incentivising positive reviews in exchange for payment or free products. It suggested the firm was facing an “uphill struggle” against a “widespread fake reviews industry”. An Amazon spokesman said: “We ...

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Crown Resorts chief Ken Barton resigns amid money laundering scandal

The chief executive of Australian casino group Crown Resorts has quit amid a scandal over money laundering allegations within its casinos. Ken Barton’s departure follows that of several other company directors. Last week an inquiry found Crown was not fit to hold a gaming licence in New South Wales, meaning it cannot operate its newly built casino in Sydney. The ...

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Godkhali flower traders fret over declining prices

Traders at Bangladesh’s largest flower market in Jashore’s Godkhali are upset with low demand and declining prices as the nation welcomes Pahela Falgun and celebrate Valentine’s Day amid the coronavirus pandemic. Godkhali florists usually have buoyant sales during February when three events – Pahela Falgun, Valentine’s Day and International Mother Language Day – are celebrated. According to sources, the flower ...

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Coca-Cola company trials first paper bottleline

Coca-Cola is to test a paper bottle as part of a longer-term bid to eliminate plastic from its packaging entirely. The prototype is made by a Danish company from an extra-strong paper shell that still contains a thin plastic liner. But the goal is to create a 100% recyclable, plastic-free bottle capable of preventing gas escaping from carbonated drinks. The ...

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Markets, oil drop in Asia but bitcoin targets $50,000

Markets fell in Asia on Friday in holiday-thinned trade with investors awaiting developments in US stimulus talks, while bitcoin hit a new record as it crept towards $50,000. Oil prices also retreated from their 13-month highs after investors were given a reality check on expectations for demand this year, despite expectations the global economy will see a strong recovery. Equities ...

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US-Bangla moves into top gear for gold smuggling

Smuggling of gold into the country is continuing unabated as US-Bangla Airlines and some syndicates have reportedly been active in smuggling the precious metal by aircraft. US-Bangla Airlines Ltd has reigned supreme in gold smuggling in recent years though names of other airlines involved in such a crime have come to light in the recent past. Not only some passengers ...

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Bangladesh seeks increased FDI in economic zones

Foreign Minister Dr AK Abdul Momen on Thursday laid emphasis on increasing the foreign direct investment (FDI) into the Economic Zones placing Bangladesh on a higher development trajectory to achieve the dream of ‘Sonar Bangla’. “We’re making calibrated efforts to strengthen institutional and professional capacity in this regard,” he said, mentioning that FDI can play a significant role in accelerating ...

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HK tycoon Jimmy Lai denied bail under security law

Hong Kong pro-democracy tycoon Jimmy Lai denied bail under security law Hong Kong media tycoon Jimmy Lai has been denied bail while awaiting trial under a controversial new national security law. Mr Lai, 73, is accused of conspiring with foreign forces to endanger national security, and could face a lengthy jail term. He is the most high-profile person charged under ...

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Elon Musk’s Tesla buys $1.5bn of Bitcoin causing currency to spike

Elon Musk’s car firm Tesla has said it bought about $1.5bn (£1.1bn) of the cryptocurrency Bitcoin in January and expects to start accepting it as payment in future. The news caused the price of Bitcoin to jump 17% to $44,220, a record high. Tesla said it was trying to maximise returns on cash that is not being used in day-to-day ...

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