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Spl flights for Middle East, Singapore-bound passengers

The government is going to operate special flights soon for KSA, UAE, Oman, Qatar and Singapure-bound passengers. Civil Aviation Authority of Bangladesh will confirm the detailed work plan on Thursday. The decision was taken at a virtual meeting as many expatriates particularly migrant workers have remained stranded in the country due to suspension of international flights. The Foreign Secretary chaired ...

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Suez megaship owner haggles over $900m release demand

The Japanese owner of a megaship seized after blocking the Suez Canal has said it is negotiating with Egyptian authorities after they demanded $900 million in compensation for its release. The 200,000-tonne MV Ever Given got diagonally stuck in the narrow but crucial global trade artery in a sandstorm on March 23, triggering a mammoth six-day-long effort to dislodge it. ...

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China forces Jack Ma’s Ant Group to restructure

China has forced a sweeping restructure on the Ant Group so the financial technology firm acts more like a bank. Ant Group’s mega $37bn (£27bn) share market launch was derailed by regulators in November over concerns about its finance model. The latest move is part of a wider crackdown by China to reign in the country’s fast-growing tech platforms. Ant’s ...

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Banks to remain closed; BB holding meeting

The government on Monday issued a notification enforcing an eight-day strict lockdown from April 14 with an aim to contain the spread of the deadly Coronavirus. The notification mentioned 13 directives to be maintained by the country people. As per the directives, banks and financial institutions will remain closed during the period. Under the fresh lockdown all government, semi-government, autonomous, ...

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CAAB likely to suspend international flights from Apr 14

The authorities of the Civil Aviation Authority of Bangladesh (CAAB) on Sunday said they are planning to suspend all international flights as the government is going to impose a strict lockdown from April 14 to contain the spread of Covid-19. “However, no final decision has been taken yet. Decision on international flights will be taken after a meeting in the ...

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China fines Alibaba record $2.75 billion for anti-monopoly violations

China slapped a record 18 billion yuan ($2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. The fine, about 4% of Alibaba’s 2019 domestic revenues, comes amid a crackdown on technology conglomerates and indicates China’s antitrust enforcement on internet platforms has entered ...

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‘Satan Shoes’ to be recalled as Nike agrees to settle lawsuit

Nike says the art collective which made “Satan Shoes” that purportedly contain a drop of human blood in the soles has agreed to issue a voluntary recall as part of a legal settlement. The $1,018 (£740) trainers are modified Nike Air Max 97s. Only 666 pairs were made and all but one have been shipped. The collective MSCHF will offer ...

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Microsoft helps 60,000-plus Bangladeshis gain digital skills amid Covid-19

Over 60,000 people in Bangladesh gained digital skills amid the pandemic with the support of Microsoft. The company made the announcement in a media statement released on Thursday. “From laid-off factory workers to retail associates and truck drivers, millions of people have turned to online learning courses from GitHub, LinkedIn, and Microsoft during the pandemic to help prepare for and ...

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Uniqlo owner posts 23% jump in half-yearly profit

Japan’s Fast Retailing, the owner of clothing brand Uniqlo, reported on Thursday a 23% jump in half-yearly operating profit and raised its full-year profit estimate. Fast Retailing said operating profit was 168 billion yen ($1.53 billion) in the six months through February against 136.7 billion yen a year earlier. The company raised its full-year operating profit forecast to 255 billion ...

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Google, Facebook and Amazon face new UK regulator

A new regulator aiming to curb the dominance of tech giants has started work in the UK. The Digital Markets Unit (DMU) will first look to create new codes of conduct for companies such as Facebook and Google and their relationship with content providers and advertisers. The new unit will be based inside the Competition and Markets Authority. The regime ...

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