Business

Italy’s competition watchdog has opened a inquiry into Ryanair’s decision to charge people to take hand luggage on to the plane. Antitrust said hand luggage was “an essential element of transport” and should be included in the ticket price.   From November, passengers will still be able to take a small personal bag into the cabin, as long as it ...

Colombian cocaine production hit record levels in 2017, according to newly released UN statistics. The UN Office on Drugs and Crime (UNODC) says production rose about 31% year on year to some 1,400 tonnes, cultivated on 171,000 hectares.   The agency warned production could harm recent peace-building efforts.   Colombia is the world’s largest producer of cocaine, much of which ...

Coca-Cola said Monday it is studying the use of a key ingredient in marijuana in “wellness beverages,” as a growing number of mainstream companies develop cannabis-infused drinks.   “We have no interest in marijuana or cannabis,” Coca-Cola said in a statement. But iconic soft drink producer is “closely watching the growth of non-psychoactive CBD (cannabidiol) as an ingredient in functional ...

British Steel has announced it is to cut 400 jobs from its worldwide operations.   The company, which employs 5,000 people, said the job losses were part of a “streamlining” process.   Most of the redundancies will be in managerial, professional and administrative roles across its businesses in the UK, Ireland, France and the Netherlands.   The Community trade union ...

Dhaka, September 15 : US-Bangla Airlines is set to add two new Boeing 737-800 aircrafts to their fleet by November, according to a press release issued on Saturday. The new aircrafts will be able to accommodate 167 passengers each, with 8 in business class and 159 in economy class. Currently they have four 164-seater Boeing 737-800 and three 76-seater Dash ...

4th meeting of Trade and Investment Cooperation Forum Agreement (TICFA) held in Washington, D.C. on Thursday Dhaka, Sept 14 : Bangladesh has requested the United States to expand market access for Bangladeshi goods to the American market and increase duty-free market facilities in the light of WTO’s Bali Ministerial decisions. Bangladesh also sought US cooperation for implementation of the Trade ...

Local manufacturers of refrigerators, freezers, air conditioners and compressors recently urged the government for provide industry-friendly policy supports in the next couple of fiscal years for the sustainable advancement in high-tech appliances manufacturing industry in the country.   They also demanded withdrawal of 15 percent VAT on the locally made compressors and the reduction of imbalanced duties structure between the ...

Chinese e-tailer Alibaba Group’s Chief Executive Daniel Zhang will be the new chairman, succeeding its co-founder Jack Ma from September 2019, said the global firm on Monday.   “Ma will continue as the executive chairman of the company over the next 12 months to ensure a smooth transition to Zhang,” a statement from Alibaba said.  Zhang, who was earlier the ...

Beijing, Sep 9 : China’s trade surplus with the United States widened to a record $31 billion in August as exports surged despite American tariff hikes, potentially adding fuel to President Donald Trump’s battle with Beijing over industrial policy. Exports to the United States rose 13.4 percent to $44.4 billion, ticking up from July’s 13.3 percent growth, according to customs ...

One of China’s richest men, Jack Ma, is to step down as executive chairman of the Alibaba e-commerce empire on Monday, the New York Times reported. He will remain on Alibaba’s board of directors but focus on philanthropy in education, the newspaper said.   Mr Ma co-founded Alibaba in 1999 and has seen it become one of the world’s biggest ...