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Gibraltar rejects US pressure to hold Iranian oil tanker

Madrid, Aug 18 (AP/UNB) — Authorities in Gibraltar on Sunday rejected the United States’ latest request not to release a seized Iranian supertanker, clearing the way for the vessel to set sail after being detained last month for allegedly attempting to breach European Union sanctions on Syria. The ship was expected to leave Sunday night, according to a statement on ... Read More »

Merchants agree to sell rawhides to tanners

Dhaka – Merchants have agreed to resume the sales of rawhides of sacrificed animals to tanners from today (Sunday) backing off from its Saturday’s announcement, paving the way for resolving the crisis in the leather industry. President of the Bangladesh Hide and Skin Merchants Association (BHSMA) Mohammad Delwar Hossain came up with the new announcement after a tripartite meeting of ... Read More »

Falling demand, syndicate behind BD Eid rawhide price slide

Dhaka, Aug 18 (UNB) – Experts have blamed the lack of policy, syndication by tanners, their ‘cash crunch’ and a fall in the demand for leather products for the unprecedented fall in the prices of rawhide of sacrificed animals this year. The drastic fall in rawhide prices forced seasonal traders in different districts, including Dhaka, Chattogram, Narayanganj, Narsingdi, Sylhet, Rajshahi ... Read More »

Tannery owners to buy rawhide, oppose export

Dhaka, Aug 14 (UNB)- Bangladesh Tanners Association will begin rawhide procurement soon, upon directives issued by the Commerce Ministry. The ministry urged the tannery owners and preservers to follow the necessary steps to tackle the waste of rawhide and maintain its quality, said a handout of Commerce Ministry on Wednesday. The Ministry urged Bangladesh Tanners Association to begin procuring rawhide ... Read More »

Govt decides to allow export of raw hide

Dhaka, Aug 13 (UNB) – The government has decided to give permission for export of raw hide to ensure fair price. “Businessmen’s cooperation sought for buying and selling of raw hide at the prices fixed by Commerce Ministry”, said a handout on Tuesday. It is being noticed that the hide of the sacrificial animals are not being sold at the ... Read More »

Spice prices in Bangladesh up ahead of Eid-ul-Azha

Dhaka – The demand for spices, mainly used in meat dishes, usually soars during religious festivals like Eid-ul-Azha when Muslims across the country sacrifice millions of animals. And there is no exception this time. The prices are high even though officials at the Department of Agricultural Extension (DAE) say the supply is adequate. Traders blame wholesalers for the price hike ... Read More »

Trump says he’ll put 10% tariffs on remaining China imports

Washington, Aug 1 (AP/UNB) — President Donald Trump intensified pressure Thursday on China to reach a trade deal by saying he will impose 10% tariffs Sept. 1 on the remaining $300 billion in Chinese imports he hasn’t already taxed. The move immediately sent stock prices sinking. The president has already imposed 25% tariffs on $250 billion in Chinese products, and ... Read More »

US presses WTO to stop lenient trade treatment of China

Washington, July 27 (AP/UNB) — President Donald Trump pressed the World Trade Organization on Friday to stop letting China and other economies receive lenient treatment under global trade rules by calling themselves “developing” countries. In a memo, Trump directed U.S. Trade Representative Robert Lighthizer to “use all available means” to get the WTO to prevent countries from claiming developing country ... Read More »

South proposes strengthening of WTO to promote development

Geneva, Jul (D. Ravi Kanth) – India, South Africa, and seven other developing and least-developed countries on Thursday (11 July) challenged the one-sided WTO reform proposals advanced by the US and other developed countries, and tabled, for the General Council, their own proposal for “strengthening the WTO to promote development and inclusivity.” In a five-page proposal submitted to the General ... Read More »

US deciding how to punish ally Turkey over Russian arms deal

Washington, July 12 (AP/UNB) — The U.S. edged closer to crisis Friday with NATO ally Turkey, which began receiving components of a Russian-made air defense system in defiance of Trump administration warnings that the deal would mean economic sanctions and no access to America’s most advanced fighter jet. The Turkish Ministry of Defense announced it received the first shipment of ... Read More »

India’s squeeze on exporters doubles price of onions in BD

Benapole, July 12 (UN) – Onion prices at retail level have doubled in the space of just 10 days, following India’s withdrawal of incentives on onion export for its farmers. Consumers though smelt a local conspiracy amid old suspicions of ‘syndicates’ – powerful networks with presence throughout a supply chain, who work to manipulate the market. A look back through ... Read More »

Decade on, Chinese yuan wins worldwide recognition

Beijing, July 12 (Xinhua/UNB) — From a currency that barely registered in the international market to one with worldwide recognition, Chinese yuan’s rise on the global stage over the past decade is a testament to China’s growing economic clout and unwavering opening up. Since July 2009 when the yuan’s global journey started with a pilot scheme allowing for yuan settlements ... Read More »

E-com rules promoted in name of women’s economic empowerment

Geneva, Jul (Kinda Mohamadieh) – Women in digital trade was the subject of a workshop convened at the World Trade Organization on 1 July. The day-long workshop was co-convened by the European Union, Trinidad and Tobago and Senegal, the fifth since the release of the Joint Declaration on Trade and Women’s Economic Empowerment at the WTO Ministerial Conference in Buenos ... Read More »

Russia celebrates the 65th year of world’s first commercial nuke power plant

Russia celebrated the 65th anniversary of the world’s first nuclear power plant, which was connected to grid for commercial purpose. On June 27, 1954, Obninsk Nuclear Power Plant with just 5 MW capacity was commissioned by the then Soviet Union in the city of Obninsk, approximately hundred kilometers southwest of Moscow. The plant operated successfully for almost five decades until ... Read More »

Gas tariff hike ‘ill-motivated’, says BNP

Dhaka, July 5 (UNB) – BNP on Friday alleged that the government has raised the gas tariff unfairly only to facilitate those ruling party leaders and businessmen who import Liquefied Natural Gas (LNG). “The only reason behind the gas price hike is to create a scope for making quick buck by their (govt’s) people who import LNG,” said BNP secretary ... Read More »

Gonoforum extends support to LDA’s hartal

Dhaka, July 4 – Gonoforum on Thursday extended its support to the Left Democratic Alliance’s (LDA’s) half-day hartal to be enforced across the country on July 7 protesting the gas tariff hike. The decision was taken at a meeting of the party’s presidium members, said a press release. Besides, the party announced some action programmes to register its protest against ... Read More »

Trade truce euphoria eases and markets tread water

London, July 2 (AP/UNB) — Global stock markets traded in fairly narrow ranges Tuesday as investors moved on from the latest truce in the costly US-Chinese trade war. Investors were encouraged Monday by the agreement between Presidents Donald Trump and Xi Jinping of China at a weekend meeting of the Group of 20 major economies to resume trade negotiations. Forecasters ... Read More »

Demos in district towns against gas price hike Tuesday: BNP

Dhaka, July 01- The major opposition BNP will stage demonstrations at district towns and city corporations across the country on Tuesday protesting the government decision to increase gas prices. In the capital city of Dhaka, the party will either stage demonstrations or bring out processions at thana level. BNP senior joint secretary general Ruhul Kabir Rizvi yesterday announced the programme ... Read More »

Nokia distances itself from boss’s warning on Huawei 5G kit

Dhaka, Jun 30 (UNB) -Telecoms giant Nokia has disowned the comments one of its senior executives made about rival Huawei, reports the BBC. Nokia’s chief technology officer Marcus Weldon told the BBC that the UK should be wary of using the Chinese hardware. He said Huawei’s telecoms kit had vulnerabilities that meant it posed a risk to 5G networks. In ... Read More »

Gas price for cooking raised by 32.8 pc

Dhaka, Jun 30 (UNB) – The average gas price has been raised by 32.8 percent for the retail consumers in the country with effect from Monday (July 1). Chairman of the Bangladesh Energy Regulatory Commission (BERC) Monwar Islam announced the decision of the commission at its office on Sunday. As per the new price hike, the household consumers having single ... Read More »

‘Back on track’: Trump, Xi seal trade war truce

Osaka, Japan, June 30, 2019 – US President Donald Trump on Sunday hailed trade talks with his Chinese counterpart Xi Jinping as “far better than expected” and vowed to hold off on further tariffs as negotiations continue. “The quality of the transaction is far more important to me than speed. I am in no hurry, but things look very good!” ... Read More »

RMG industry of BD wants higher prices from intl buyers

Dhaka, June 27 (UNB) – Bangladeshi apparel businesses called upon international buyers for maintaining responsible buying practices to obey their given conditions properly. The business insiders also said that their businesses are under pressure not getting proper prices of their products. They have reformed their factories costing huge money following Accord and Alliance but the buyers do not pay good ... Read More »

Low-income nations pay over 20 times more for generic drugs

By Caley PigliucciReprint UN, Jun 21 2019 (IPS) – A recently-released report by the Washington-based Center for Global Development (CGD) shows that generic drugs, like omeprazole (used to treat heartburn), can cost 20-30 times more in low and middle-income countries than in high-income countries. Rachel Silverman, a researcher with CGD who worked on the report, told IPS that “There is ... Read More »