Archive / Business - 2021
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$250M CURRENCY SWAP WITH BB: Sri Lanka gets first tranche of $50m this weekThe central bank will lend $50 million to under-pressure Sri Lanka this week as part of Bangladesh's efforts to support the Island nation suffering from...Asia shares fall as investors eye rising COVID-19 cases, Afghan crisisAsian shares declined in early trade on Tuesday as growing anxiety over the spike in the Delta variant of COVID-19 infections and turmoil in Afghanistan...Singapore exports rise 12.7% in July, marking 4 straight months of growthSingapore's non-oil domestic exports (NODX) rose 12.7 per cent in July, marking a fourth straight month of growth.Growth was mainly due to non-electronics, though electronic...Japan economy rebounds despite virus surgeJapan's economy grew slightly in the second quarter, recovering from a slowdown at the start of the year despite continuing virus surges and restrictions, data...UK employers have strongest hiring plans in over 8 yearsBritish employers plan to increase staff numbers by the most in more than eight years over the coming months and few intend to make staff...China economy under pressureChina's factory output and retail sales growth slowed sharply and missed expectations in July, as new Covid-19 outbreaks and floods disrupted business operations, adding to...Didi says will be more transparent on drivers' income after criticismChina's Didi Global Inc said on Monday drivers in several Chinese cities will be able to know details on how Didi pays them, the first...Indonesia proposes 2022 fiscal deficit at 4.85per cent of GDPIndonesia's President Joko Widodo on Monday proposed to parliament a 2,708.7 trillion rupiah (US$188.30 billion) budget for next year, with a fiscal deficit equal to...Taliban gains give investors cause for concern beyond AfghanistanThe Taliban's rapid advance towards Kabul is not only causing concern about Afghanistan's future but also about the impact on other countries in the region...India will soon unveil $1.35tr infrastructure planIndia will launch a 100 trillion rupee ($1.35 trillion) national infrastructure plan that will help generate jobs and expand use of cleaner fuels to achieve...US trade judge finds Google infringed five Sonos patentsA US trade judge ruled on Friday (Aug 13) that Alphabet's Google infringed five patents belonging to Sonos Inc that concern smart speakers and related...Tesla says Elon Musk's 2020 compensation was nilTesla Inc said on Friday Chief Executive Officer Elon Musk's total compensation for 2020 was nil, compared to US$23,760 in 2019.The electric-car maker also said...Kamal thanks expatriate workers for sending remittanceFinance Minister AHM Mustafa Kamal wholeheartedly thanked the expatriate Bangladeshi workers who are paying a piovital role towards the development of Bangladesh through sending their...Cryptocurrency heist hacker returns $260m in fundsThe hacker behind one of the largest cryptocurrency heists to date has returned almost half of the $600m (£433m) stolen assets.On Tuesday, the firm affected,...Japan to launch indicator combining GDP and carbon emission reduction efforts: ReportJapan's government will create a new indicator that will show the country's progress in reducing greenhouse gas emissions compared to gross domestic product (GDP), the...US Senate approves $3.5tr spending planThe US Senate approved a $3.5 trillion spending blueprint for President Joe Biden's top priorities early on Wednesday morning in a 50-49 vote along party...China to fund 21 dev projects of MyanmarChina will transfer over $6 million to Myanmar's government to fund 21 development projects, Myanmar's foreign ministry said, in a sign of cooperation resuming under...US job vacancies hit a record 10.1 millionUS job openings hit a fresh record in June amid reports the country continues to face a labour shortage.Job vacancies jumped by 590,000 to 10.1...Inflation slightly falls in July amid pandemicThe inflation rate slightly declined by 0.28 percent on a point-point basis as it came down at 5.36 percentage point in July 2021.“The general point-to-point...Cathay Pacific H1 loss shrinks by almost a quarter, air cargo demand seen robustHong Kong's Cathay Pacific Airways Ltd said on Wednesday its first-half loss shrank by nearly a quarter, helped by a drastic reduction in headcount and...Human rights claims undermine China's investment abroad, report findsChina's efforts to be seen as a responsible investor overseas are at risk from high rates of human rights abuses linked to its business operations,...Amazon loses bid to stop New York from probing COVID-19 standardsA federal judge on Tuesday dismissed Amazon.com Inc's lawsuit to block New York's attorney general from investigating the online retailer's ability to protect warehouse workers...Switch to online AGMs gains pace despite concernsA mass corporate switch in Europe to holding virtual annual shareholder meetings or AGMs has picked up pace this year, raising concern among investors that...Asian airlines offer perks to keep elite flyers on boardFrom wellness workshops to dinner with a celebrity chef and flights to nowhere, Asia's big international airlines are working hard to keep their most lucrative...Philippine economy returns to growth in second quarter, but COVID-19 clouds outlookThe Philippine economy grew at its fastest annual pace in over three decades in the second quarter, rebounding from a COVID-induced slump a year ago,...How sustainable are sovereign wealth funds?Risks don't come much longer term than climate change, so you might expect sovereign wealth funds to be all over it, as investment giants with...China’s factory price growth quickensChina's factory gate inflation in July rose at a faster clip from the previous month and exceeded market expectations, adding to strains on an economy...Apparel exporters worry over rising yarn pricesApparel exporters have expressed their concerns over the rise in yarn prices in the local market.They said retail sales grew sharply in the Europe and...Netflix Movie: BGMEA protests derogatory remarks on Bangladesh RMG sectorBangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has written to US Ambassador to Bangladesh Earl R. Miller drawing attention to a movie...COVID-19 antigen rapid testing to be made mandatory for construction industry, including non-dorm workersCOVID-19 antigen rapid tests will be made mandatory for the construction industry, including all non-dormitory workers as well as visitors to construction worksites, said the...Saudi Aramco profit soars on demand recoveryEnergy giant Saudi Aramco's second quarter profits for 2021 have bounced back to pre-pandemic levels due to higher oil prices, nearly quadrupling compared to the...Wolfsburg, we have a problem: How Volkswagen stalled in ChinaIn late December 2019, managers at Volkswagen headquarters in Wolfsburg realised they might have a serious problem in China, the company's biggest market and ticket...ECB must tighten rules to counter inflationThe European Central Bank must tighten monetary policy if it needs to counter inflationary pressures and cannot be put off from doing so by the...Bank bonuses rise as profits reboundEurope's banks are stashing cash to pay bumper bonuses to top performers, amid a deal frenzy driven by pent up demand from the Covid-19 pandemic...Global supply snags could mean fewer toys under the Christmas treeIt's always "better to shop a little early" for the holidays, but this year, says Judy Ishayik, co-owner of a New York toy store, "We...As movement curbs persist, Malaysian fishermen and farmers grapple with lower demand and logistics issuesIt has become less easy to make a living catching fish, said Rosmadi Ramli, 46, who has just returned from the sea late Thursday (Aug...China’s crude oil imports reboundChina's crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though independent refineries slowed...US labour market powers ahead with strong job gainsUS employers hired the most workers in nearly a year in July and continued to raise wages, giving the economy a powerful boost as it...China’s export slowdown may signal more bumps aheadChina's export growth unexpectedly slowed in July following outbreaks of Covid-19 cases, while imports also lost momentum, pointing to a slowdown in the country's industrial...CNN fires 3 employees for coming to work unvaccinatedCNN has fired three employees who violated company policy by coming to work unvaccinated against the COVID-19 virus.CNN chief Jeff Zucker told staff members of...New EV battery designs unlikely to dampen metals demand, miners sayMining companies say they do not fear a plan by China's CATL to make an electric vehicle (EV) battery without lithium or other key metals...Apple wins court ruling throwing out US$308.5 million patent verdictApple persuaded a federal judge to throw out a US$308.5 million jury verdict it lost to a privately-held licensing firm for infringing a patent associated...StarHub finds personal information of more than 57,000 customers on third-party data dump siteStarHub said on Friday (Aug 6) that personal information - including identity card numbers and mobile numbers - of more than 57,000 customers were found...Malaysia's fast food giant QSR revives IPO plan: ReportMalaysian fast food restaurant business QSR Brands as revived plans for an initial public offering that could be worth hundreds of millions of dollars, The...UN appeals for funds to fight hunger in MyanmarThe UN World Food Programme (WFP) warned on Friday it may not have enough funding for the next six months to help millions of people...Hyundai to take stake in German hydrogen fuelling group H2 MobilityHyundai Motor will invest in Germany's H2 Mobility network of hydrogen fuelling station operators, it said on Thursday (Aug 5), as it looks to support...DBS bets on rebounding economy, Q2 profit jumps 37% to S$1.7 billionSingapore's DBS Group Holdings flagged strong loan growth and weaker credit costs after posting a 37 per cent jump in quarterly net profit, as Southeast...Oil prices edge higherOil prices edged higher on Wednesday, supported by a fall in US inventories and Mideast geopolitical tensions, but the increasing spread of the coronavirus Delta...Southeast Asia’s factory powerhouses hit by vaccination woes, DeltaFresh outbreaks of the Delta coronavirus variant in South-east Asia have crippled its factory sector, disrupting global supplies of goods such as rubber gloves, semiconductors...China Tesla rival plans Hong Kong secondary listingChinese electric car maker Li Auto has said it plans to raise as much as $1.9bn (£1.4bn) in a secondary listing of its shares in...