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Category Archives: Global Economy

WTO countries set out to cut trade barrier

Refayet Ullah Mirdha, The Daily Star The Trade Facilitation Agreement (TFA) of the World Trade Organisation came into force from Wednesday as two-thirds of its 164 members ratified the deal that was accepted in Bali in December 2013. From now on, the WTO member countries will ease rules and reduce the cost of doing business by simplifying the administrative and ... Read More »

Yahoo slashes price of Verizon deal $350m

Global Business Desk Yahoo slashed the price of the sale of its core Internet business to Verizon by $350 million following a pair of major data breaches at Yahoo, the two companies announced Tuesday.  Under the revised terms of the deal, Verizon’s purchase the Yahoo assets will now total $4.48 billion. Yahoo still faces probes and lawsuits related to the ... Read More »

Stocks: Most Asia markets up

stocjs Hong Kong led most Asia markets higher Wednesday after the previous day’s HSBC-fuelled plunge but Tokyo struggled under the weight of a stronger yen.  Regional traders woke up to the now-common sight of a record close on Wall Street as the US returned from the Presidents Day holiday to higher oil prices and healthy eurozone economic data. The Hang ... Read More »

China signs $1.77b Abu Dhabi deal


business Desk The China National Petroleum Corporation on Sunday secured an eight-percent share in an onshore oil concession in Abu Dhabi in a deal worth $1.77 billion, the Emirati company said.  The Chinese giant signed a deal with the Abu Dhabi National Oil Company for a stake in the Abu Dhabi Company for Onshore Petroleum Operations which operates the 40-year ... Read More »

China faces difficulties in doing business in Bangladesh

China wants “solid efforts” from the government to address “practical difficulties” their companies are facing in doing business in Bangladesh, reports  Chairman of China’s Council for Promoting South-South Cooperation Lyu Xinhua, a former vice foreign minister, however, did not specify what kind of difficulties Chinese companies face in Bangladesh while speaking at a meeting in Dhaka. He said Chinese ... Read More »

Global stocks rise on Trump policy hopes, EU growth

Desk Report Beijing: Global stocks rose Monday after President Donald Trump promised tax cuts for companies and appeared to steady relations with key Asian trading partners Japan and China. Upbeat economic forecasts from the European Union also helped buoy sentiment. KEEPING SCORE: Germany’s DAX gained 0.9 percent to 11,768 while France’s CAC-40 advanced 1 percent to 4,878. London’s FTSE 100 ... Read More »

Asia remains vibrant as fastest-growing region: Moody


Asia will remain among the fastest-growing regions globally in 2017, but it faces several challenges that could weigh on credit conditions for Asian debt issuers, Moody’s Investors Service said. “Challenges surrounding China’s structural reforms, higher interest rates in the US, rising protectionist sentiment in advanced economies, potential political shifts in the EU, and elevated leverage in Asian economies – all ... Read More »

Asian markets extend global rally on Trump relief

HONG KONG, Feb 13, 2017 (AFP) – Asian markets pressed ahead with a global rally on Monday following another record close in New York as traders welcomed Donald Trump’s promise of details on tax reform and his softer tone on China and Japan at the weekend. Shares soared at the end of the week after the new US president finally ... Read More »

“Significant uncertainty” about fiscal policy under Trump


World Desk US Federal Reserve Vice Chair Stanley Fischer said there was significant uncertainty about US fiscal policy under the Trump administration, but the Fed would be strict in meeting targets of creating full employment and getting inflation to 2 percent.  Speaking at the Warwick Economics Summit on Saturday, Fischer also said he thought Dodd-Frank financial regulation would not be ... Read More »

British MPs give Brexit approval


AFP . London             British MPs overwhelmingly backed a bill on Wednesday empowering Prime Minister Theresa May to start negotiations on leaving the European Union, bringing Brexit a significant step closer. Members of the House of Commons voted by 494 votes to 122 for a law enabling May to trigger Article 50 of the EU’s ... Read More »