Business

The leaders of China, Japan and South Korea are holding a trilateral summit in China this week amid feuds over trade, military maneuverings and historical animosities. Most striking has been a complex dispute between Seoul and Tokyo, while Beijing has recently sought to tone down its disagreements with its two neighbors. Economic cooperation and the North Korean nuclear threat are ...

The government has approved a US private equity firm’s takeover of UK defence and aerospace company Cobham, reports BBC. Advent International made a £4bn offer to buy Cobham in July, but it was delayed when the government intervened over national security concerns.The government announced its approval of the deal late on Friday night – which the firm’s founding family said ...

Colombia on Friday instructed Uber to stop operating after a lawsuit by a group of taxi drivers that accused the ride-sharing app of unfair business practices, reports AP. Colombia’s Superintendency of Industry and Commerce said the halt to Uber operations was taking effect immediately, though the company can appeal the decision. Uber was benefiting from a “significant advantage” that violated ...

The International Monetary Fund on Thursday approved a delayed loan tranche for Ecuador, releasing nearly $500 million under a three-year aid program, reports AFP. The IMF board gave the go-ahead for a $4.2 billion loan in March to help support the oil-rich nation’s economic reforms, but massive protests lead by indigenous groups erupted in October when President Lenin Moreno scrapped ...

Fiat Chrysler and Peugeot agreed Wednesday to merge into a single company that will become the world’s fourth-largest automaker, a giant that could bring consumers a wider variety of cleaner vehicles at a faster pace, including more powered by electricity. The boards of the two companies signed the deal to achieve what neither was good at alone: conquering the challenges ...

Representational Image.Photo:Collected Japanese firm TOA Corporation has finally won the contract for developing land and other related works for the construction of an exclusive economic zone for Japanese investors in Araihazar upazila of Narayanganj. Two Japanese firms — TOA Corporation and Tokyu Construction — vied for the job of one of the country’s largest economic zones taking part in the ...

Boeing will temporarily halt production of its troubled 737 Max airliner in January, the manufacturer said, reports BBC. Production of the jet had continued despite the model being grounded for nine months after two deadly crashes.More than 300 people died when two 737 Max aircraft crashed in Indonesia in October 2018 and Ethiopia in March 2019 after reported problems with ...

Photo: Courtesy Private airline NOVOAIR on Sunday announced adding another aircraft to its fleet, saying it plans to increase the number of flights on domestic and international routes. With the 68-seater ATR 72-500 aircraft, the company now has seven planes in its fleet. The new aircraft landed at Dhaka airport at 2:30pm. Feroz Alam, Deputy Managing Director, directors and high ...

United Commercial Bank Limited has recently signed an agreement with Bangladesh Police, Sylhet Range on e-trafficking prosecution and fine payment system. DIG of Sylhet Range Md. KamrulAhsan BPM (Bar), Additional DIG of Sylhet Range  Joydeb Kumar Bhadra BPM; Sydul H Khandaker, Program Director of Digital Financial Services, UCB and  Hasan Mohammad Zahid, FAVP, MFS of UCB along with other officials ...

The limited trade deal that the Trump administration and Beijing announced Friday means Americans will avoid a holiday tax increase on imported toys, clothing and smartphones. U.S. farmers can sell more soybeans and pork to China. And American companies should face less pressure to hand over trade secrets to Beijing. But what the administration gained from the so-called Phase 1 ...