Business

German auto brand BMW will recall 45 cars in the Chinese market due to problems in engine control modules, according to China’s market regulator. The recall, starting October 25, will involve a component of imported i3 electric cars manufactured between January 9 and February 21, 2019, according to a statement by the State Administration for Market Regulation, reports Xinhua.The defect ...

The US unemployment rate has fallen to a 50-year low, possibly easing recession worries after recent weak economic data. The Labor Department figures showed that the rate fell to 3.5% in September from 3.7%, with the economy adding 136,000 jobs last month, reports BBC.In addition, August data was revised up to 168,000 jobs created instead of the previously reported 130,000. ...

Opened amid much fanfare over a year back, the ‘Village Supermarket’ in Dumuria upazila to facilitate farmers to sell their agricultural commodities at fair prices, has failed to pick up the pace, clouding its much-hyped goals. Non-availability of loans by farmers, the reluctance of buyers to measurement through metre scales and lack of sincerity of the implementing agency are said ...

A delegation of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), led by its President Sheikh F Fahim, left  Dhaka for India to attend the Indian Economic Summit of the World Economic Forum and India – Bangladesh Business Forum. The two days summit World Economic Forum (WEF) will be held from October 3 to 4, organized in collaboration ...

The World Trade Organization has slashed its forecast for trade growth this year by more than half, warning the slowdown could hit living standards and jobs. The WTO said it expected trade volumes to grow by just 1.2% in 2019, down from the 2.6% it predicted in April.It also cut its global economic growth forecast from 2.6% to 2.3%. It ...

In a television interview, Saudi Crown Prince Mohammed bin Salman called for global action against Iran and warned that oil prices could otherwise rise astronomically. Bin Salman blamed Iran for the September 14 attack on Saudi oil facilities that cut its production by half and led to a spike in oil prices, reports Deutsche Welle. “If the world does not ...

Japan has increased its consumption tax for the first time in five years, bringing the long-delayed policy into effect despite concerns it may knock the economy. On Tuesday, the country raised its sales tax rate from 8% to 10%. The new rate applies to nearly all goods and services, though most food will be exempt, reports BBC.Past sales tax rises ...

Dhaka, Sept 30 : From now on, passengers can pay the fare directly through their bKash accounts while purchasing tickets of Novoair in any of the outlets located countrywide.  Novoair, a local private airline, and Mobile Financial Service Provider bKash have signed an agreement for opening merchant wallet facilities. Mofizur Rahman, Managing Director of Novoair and Mizanur Rashid, Chief Commercial ...

An International Monetary Fund (IMF) mission concluded its recent visit to Jordan to assess recent economic developments in the country, said a statement by the IMF on Saturday. The new mission Chief for Jordan Chris Jarvis was introduced during the visit, it said, reports Xinhua. A mission to complete the third review of the IMF’s Extended Fund Facility (EFF) will take ...

Hong Kong stocks fell in opening trade Friday following declines on Wall Street as the impeachment inquiry into US President Donald Trump weighed on sentiment. The Hang Seng Index was down 0.75 percent, or 195.99 points, at 25,845.94, reports AFP.The benchmark Shanghai Composite Index was flat, slipping 0.40 points to open at 2,929.49 and the Shenzhen Composite Index, which tracks ...