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China’s yuan falls further to US dollar amid trade war fears

China’s yuan fell further Tuesday against the U.S. dollar, fueling fears about increasing global damage from Beijing’s trade war with President Donald Trump. The yuan declined to 7.0562 to the dollar before strengthening to 7.0388 at midday. That came a day after Beijing sent global financial markets tumbling by allowing the currency to fall past the politically sensitive level of ...

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BB has ‘no data on remittance outflow’

Dhaka, Jul 31 : Bangladesh Bank does not maintain any data on remittance outflow although it has updated data on remittance inflow, said its officials. Bangladesh Bank government Fazle Kabir and other deputy governors informed reporters about it while responding to questions on the issue while unveiling the monetary policy statement (MPS) at a press conference at the central bank ...

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France will implement digital tax: economy minister

France will go ahead with a digital tax, Economy Minister Bruno Le Maire said Friday, shortly after US President Donald Trump threatened “substantial” retaliation over Paris targeting top US tech companies. “Universal taxation of digital activities is a challenge for us all. We want to reach an agreement within the G7 and the OECD. In the meantime, France will implement ...

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Nissan to cut over 10,000 jobs worldwide: report

Japanese car giant Nissan plans to cut more than 10,000 jobs around the world as part of efforts to turn itself around, Japanese media said Wednesday, citing company sources. The cuts come after Nissan announced in May it would trim 4,800 jobs from its global workforce of around 139,000. Nissan’s net profit fell to a near-decade low in the last ...

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The UKBCCI Announces the Launch of its Annual Business & Entrepreneur Excellence Awards 2019 and Gala Dinner.

  The UK Bangladesh Catalysts of Commerce & Industry (UKBCCI), the leading umbrella business organisation, which aims to bring together and nurture successful British-Bangladeshi entrepreneurs in the UK and Bangladesh, is proud to announce the launch of its annual Business & Entrepreneur Excellence Awards 2019 and Gala Dinner, to be held on 6th  October 2019, at the London Hilton Park ...

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Trump meets with chipmakers on Huawei, other economic issues

President Donald Trump met with executives from several of the nation’s leading chip and computer part makers Monday and discussed restrictions his administration has imposed on the sale of components to Chinese telecommunications giant Huawei, the White House said. Huawei is embroiled in a trade dispute between China and the U.S. The Trump administration in May sanctioned Huawei, which it ...

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No-deal Brexit could cause £30bn economic hit, watchdog says

Public borrowing could double next year if there is a no-deal Brexit, the country’s spending watchdog says. The Office for Budget Responsibility (OBR) said borrowing would be almost £60bn if the UK leaves without a deal – up from £29.3bn if it does get a deal. The watchdog said this scenario was based on assumptions that a no-deal Brexit would ...

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Boeing takes $5bn hit over grounding of 737 Max

Boeing is taking a $4.9bn hit to cover costs related to the worldwide grounding of its 737 Max aircraft. The charge is set to wipe out profits when the world’s biggest planemaker posts quarterly results next week.In a statement, Boeing also said its “best estimate at this time” is that the aircraft will return to service in the last three ...

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Asian shares mixed as China reports economy slowed in 2Q

Bangkok, July 15 : Shares were mixed in Asia on Monday, with gains in Chinese markets on hopes for fresh stimulus measures after the government reported that the economy grew at the slowest pace in a decade in the last quarter. Analysts said the 6.2% annual rate of growth reported for April-June suggests the trade war between the U.S. and ...

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Chevron spills 800,000 gallons of oil, water in California

Officials began to clean up a massive oil spill Friday that dumped nearly 800,000 gallons of oil and water into a California canyon, making it larger — if less devastating — than the state’s last two major oil spills. The newly revealed spill has been flowing off and on since May and has again stopped, Chevron spokeswoman Veronica Flores-Paniagua said. ...

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