Business

China is set to release pork supplies from its central reserves as it moves to tackle soaring prices and shortages caused by an outbreak of swine fever. A state-backed body will auction 10,000 tonnes of frozen pork from its strategic reserves on Thursday, reports BBC.China, the world’s biggest producer and consumer of pork, has struggled to control the spread of ...

The government has awarded the Commercially Important Person (CIP) cards to 182 businessmen for their extraordinary performance in export in 2017. Commerce Minister Tipu Munshi and Chairman of the Parliamentary Standing Committee on the Commerce Ministry Tofail Ahmed handed over the CIP cards among the awardees at a function held at the Hotel Intercontinental in the city today. Out of ...

Asian stock prices rose Wednesday after oil prices fell back and Wall Street advanced. Benchmarks in Tokyo, Shanghai and Hong Kong all gained.Markets steadied following a decline Tuesday in crude prices that spiked after a weekend attack on a Saudi soil facility. The Saudi oil minister said half of production that was cut already had been restored, reports AP. “Concerns ...

Although the government has lifted the ban on raw jute export, traders here are yet to start collecting jute fearing such a ban again, causing losses to them. The traders said the jute export witnessed a sharp fall last year due to the ban on the export of uncut Bangla tossa rejection (BTR) and Bangla white rejection (BWR) varieties of ...

Saudi Arabia has cut oil and gas production following drone attacks on two major oil facilities run by state-owned company Aramco. Energy Minister Prince Abdulaziz bin Salman said the strikes had reduced crude oil production by 5.7m barrels a day – about half the kingdom’s output, reports BBC.A Yemeni Houthi rebel spokesman said it had deployed 10 drones in the ...

The US government is fining Japan Airlines $300,000 for delays that trapped passengers on two grounded planes for hours. Under an agreement with the Transportation Department, the airline gets credit for $60,000 spent compensating passengers, and $120,000 will be waived if the airline avoids similar incidents for one year, reports AP.The department says that after bad weather forced a January ...

The pound has hit its highest level against the dollar since July amid hopes a no-deal Brexit can be avoided. Sterling jumped more than 1% on Friday to over $1.24 against the dollar, its highest level in seven weeks, reports BBC.The pound was boosted after a report in the Times said the DUP, Northern Ireland’s largest political party, was prepared ...

A daylong fair on Jamdani, Muslin and other handloom sarees, an embodiment of the pride of Bangladesh, has delighted a large number of saree lovers, creating soothing effects on them to make them ponder over the revival of these rare wears. The creations of Mantasha Ahmed and Nasreen Jahan, the owners of two popular fashion houses in Dhaka, the spectacular ...

US President Donald Trump will delay a planned tariff hike on $250bn (£202.8bn) of Chinese goods as a “gesture of good will”. In a tweet, Mr Trump said a 5% increase to duties scheduled for 1 October will be postponed for two weeks.He said the delay had been requested by China, and also follows a move by Beijing to scrap ...

Huawei released the “5G Applications Position Paper” in Hungary’s Budapest on Tuesday at a forum on the sideline of the International Telecommunication Union (ITU) Telecom World 2019, looking forward to 5G application scenarios in the areas of enhancing broadband, media and entertainment, industrial manufacturing, and intelligent transportation, reports AP. It also called on global industry organizations and regulators to actively ...