Business

The US labour market improved unexpectedly in May raising hopes that economic damage tied to the pandemic will be less harmful than feared. The unemployment rate fell to 13.3%, down from 14.7% in April, as businesses started hiring again. Firms in the food, construction and health care sectors took on staff, BBC reported. In total, employers added 2.5 million jobs, ...

The impact of COVID-19 has been sudden, severe, and looks set to last. The battle to contain and ultimately overcome the pandemic will be long and challenging; many people are already suffering catastrophic personal loss, and the global consensus is that the situation will continue to get worse before it gets better. But it isn’t the only the human cost ...

British Airways’ parent company is mulling legal action over the UK government’s planned 14-day quarantine on international air passengers, its boss revealed on Friday. Willie Walsh, chief executive of airline conglomerate IAG, told Sky News the quarantine, which comes into force on Monday and aims to prevent a second wave of coronavirus, was “irrational” and “disproportionate” at a time when ...

The European Central Bank has taken further dramatic measures try to boost the eurozone economies, amid their biggest recession since World War Two. Just months after emergency measures, the central bank said it would increase the size of its bond buying programme by €600bn (£546bn) to €1.35tn. The programme will run until June 2021, six months longer than planned, BBC ...

Biman Bangladesh Airlines is offering chartered domestic flight services due to passenger shortage amid the coronavirus outbreak. Anyone will be able to charter Biman’s aircraft for roundtrip on seven domestic destinations from Friday for family trips, at a cost of Tk 3 to Tk 5 lakh depending on the distance, said Tahera Khandaker, deputy general manager (Public relation) on Thursday. ...

The US is barring passenger flights from China from 16 June, in the latest sign of tensions between the two economic giants. The Department of Transportation said it is punishing Beijing for refusing to let US airlines resume flights to China as its pandemic subsides, BBC reported. The Department of Transportation order applies to four airlines – Air China, China ...

Australia is set for its first recession in 29 years as the country feels the impact of the virus pandemic. Official figures show that the economy shrank by 0.3% in the first three months of the year, amid bushfires and the early stages of the outbreak. Economists expect data for the current quarter to confirm that the shutdowns have pushed ...

  Survey* conducted in Yemen reveals impact of funding shortfalls as Pledging conference is held today Recent funding gaps and other challenges in Yemen will put an additional estimated 5.5 million people in the war-torn country at risk of losing access to life-saving aid, such as food, cash and clean water this year, 24 international humanitarian NGOs said ahead of ...

After two months and 8 days, trade between India and Bangladesh resumed through Bhomra land port of Satkhira from Tuesday. Import and export activities through this port were suspended due to lockdown of India and Bangladesh to prevent the spread of coronavirus outbreak. Arafat Hossain, president of the Bhomra C&F Agents Association, said all import-export activities between India and Bangladesh ...

Bangladesh earned US$ 791.3 million from the export of jute and jute products in the first ten months (July-April) of the current fiscal year 2019-20, which is 14 percent higher than the earnings during the corresponding period of the previous fiscal year. The export earnings from jute and jute goods is also 17 percent higher than the target set by ...