Russian and Ukrainian negotiators have failed to agree on a new long-term natural gas transit contract, raising the specter of possible supply cuts during the winter. EU Energy Commissioner Maros Sefcovic says he is “disappointed” by the outcome of Monday’s talks in Brussels and warns that “time is flying” as the current gas contract expires on Jan. 1. Russia and ...
Read More »Business
Survey: US business hiring falls to a 7-year low
Washington, Oct 28 : A measure of hiring by U.S. companies has fallen to a seven-year low and fewer employers are raising pay, a business survey has found. Just one-fifth of the economists surveyed by the National Association for Business Economics said their companies have hired additional workers in the past three months. That is down from one-third in July. ...
Read More »Pentagon awards Amazon for $10bn ‘Jedi’ contract
The Pentagon has awarded a $10bn (£8bn) cloud-computing contract to Microsoft, following a heavily scrutinised bidding process in which Amazon had been seen as the favourite. The 10-year contract for the Joint Enterprise Defence Infrastructure, or Jedi, is aimed at making the US defence department more technologically agile, reports BBC.Amazon’s bid drew criticism from its rivals and US President Donald ...
Read More »Bill Gates beats Jeff Bezos, reclaims the world’s richest man title
Amazon founder and CEO Jeff Bezos has lost the title as the world’s richest man, paving the way for tenacious Bill Gates to grab the top spot after Amazon’s lacklustre Q3 results resulted in Bezos losing nearly $7 billion in stock value. Amazon shares fell 7 per cent in after-hours trading on Thursday, leaving Bezos down to $103.9 billion. Microsoft ...
Read More »Japan trade minister resigns over vote buying scandal
Japan’s trade minister resigned Friday a month into his job in a scandal over condolence money, expensive melons and other gifts allegedly offered to election supporters. Prime Minister Shinzo Abe was quick to remove Isshu Sugawara to limit the potential damage to his Cabinet. He accepted the offer to resign and replaced Sugawara with Hiroshi Kajiyama, formerly the minister in ...
Read More »Boeing expects 737 Max to fly again by New Year
Boeing has said it expects its troubled 737 Max aircraft to return to the skies before the end of the year. The jet was grounded after two fatal crashes, including last year’s Lion Air disaster which killed 189 people, reports BBC.Just hours after Indonesian investigators blamed mechanical and design problems for the crash, Boeing said it had developed software updates. ...
Read More »China releases regulation on optimizing business environment
Photo: Aerial photo taken on Aug. 27, 2019 shows cargo ships berthed at a wharf of Wenfeng port in the China (Hebei) Pilot Free Trade Zone Caofeidian area in north China’s Hebei Province. Beijing, Oct 24 : The State Council on Wednesday made public a regulation on optimizing the business environment in the latest step to unleash and develop productive ...
Read More »WeWork accepts multi-billion-dollar Softbank rescue deal
WeWork has been thrown a multi-billion-dollar lifeline from Softbank that will give the Japanese company more control of the troubled property start-up. In a statement, Softbank said it would provide $5bn (£3.9bn) in new financing and up to $3bn for existing shareholders.The deal will see Softbank increase its stake in the US office-space sharing start-up to roughly 80%. Co-founder Adam ...
Read More »DoE fines RSRM Tk 4.76 lakh for polluting environment
Department of Environment (DoE), Chattogram chapter fined Taka 4.76 lakh to steel producing company, Ratanpur Steel Rerolling Mills (RSRM), in city’s Biyazid area for polluting the environment by releasing excessive unrefined smoke in the air. Director of DOE, Azadur Rahman Mallick pronounced the penalty after the hearing at DOE office on Tuesday. DOE Director Azadur Rahman told that RSRM breached ...
Read More »IMF warns of downside risks for Asian economy amid trade tensions
Washington, Oct 19 : Asia is expected to grow at 5.0 percent in 2019 and 5.1 percent in 2020, with risks to the projection still skewed downward, an International Monetary Fund (IMF) official said on Friday. “In line with the slowdown of global growth, the growth in the Asia Pacific region is expected to be the slowest since the global ...
Read More »