04-03-2018

ECONOMY & BUSINESS
SUnDAy,
THE
BANGLADESHTODAY
MARCH 4, 2018
10
The year of 2018 is expected to be a significant year in terms of diplomatic relationship between
Vietnam and Bangladesh as Bangladesh is all set to welcome the Vietnamese President Tran Dai
Quang who will arrive on a three-day state visit on 04 March 2018 with an aim to intensify trade &
investment advancement and to create favorable conditions for businesses between these two countries.
Pan Pacific Sonargaon Dhaka is hosting a Vietnamese Food Festival 2018 along with a
Vietnamese Cultural Week in honor of the Vietnamese President His Excellency Tran Dai Quangin collaboration
with the Embassy of Vietnam in Bangladesh and Bangladesh's Ministry of Foreign Affairs.
The eventful Festival will provide a Three-dayCultural Fair at the Hotel's Ballroom along with a
Gastronomical Adventure of VietnameseFoodat Café Bazar Restaurant starting from 06 March to 08
March.
Photo: Courtesy
German new car sales jump in
February: Industry data
Sales of new cars increased strongly
in Germany in February, industry
data showed Friday, but shipments of
diesel vehicles continue to fall in the
wake of repeated scandals.
The number of new cars registered
on the country's roads rose by seven
percent to 261,700 last month, figures
from manufacturers' association VDA
showed.
That brought the total for the first
two months of the year combined to
531,100 vehicles, the highest level
since 1999, the VDA said in a
statement.
Nevertheless, sales of new diesel
cars continued to decline, separate
data from the KBA vehicle licensing
authority showed.
While 62.9 percent of new cars were
petrol powered, diesel vehicles
accounted for just 32.5 percent -- 19.5
percentage points lower than a year
U.S. sales of new cars and
trucks tailed off in February as
automakers eased up on
discounts.
Sales fell 2 percent from last
February to 1.3 million,
according to Autodata Corp.
Among major automakers,
only Toyota, Subaru and
Volkswagen reported sales
gains over last February.
Ford's U.S. sales chief Mark
LaNeve said automakers
spent an average of $65 less
per vehicle on incentives in
February compared to the
same month last year. That's a
stark contrast from 2017,
when incentive spending
often climbed $300 or $400
per month.
LaNeve said discounts
could grow during the spring
and summer, when tax
returns arrive and more
people shop for vehicles. But
based on the first two months
of this year, he expects
automakers to remain fairly
disciplined. In the past, heavy
before.
Diesel drivers, politics and industry
were held in suspense in February, as
a court decision approached on
whether the oldest cars powered by
the fuel could be banned from city
centres to fight air pollution.
Judges at the Federal
Administrative Court in Leipzig finally
approved the measure this week.
Now city, state and federal
governments, drivers, the auto
industry and environmentalists must
wrangle over how to meet targets for
levels of harmful nitrogen oxides
(NOx) and fine particles in city air-if
possible without driving bans.
In the meantime, the possible urban
exclusion zones and a plummet in the
resale value of diesel vehicles have put
buyers off the fuel.
World-leading carmaker
Volkswagen-at the origin of the diesel
US auto sales fell 2 percent
in February
discounting has led to
overproduction and steep
declines in automakers'
profits.
Here are some details
regarding February sales:
General Motors Co. sales
fell just under 7 percent to
220,905. Sales were dragged
down by the Chevrolet
Silverado pickup truck, GM's
top-selling vehicle. Silverado
sales were off more than 16
percent from a year ago, when
the company had record
February sales of SUVs and
pickup trucks. GMC and
Chevrolet sales were down for
the month but Buick and
Cadillac sales rose.
Ford Motor Co. sales also
fell 7 percent to 194,132. Ford
said its car and SUV sales
were down but sales of the F-
Series pickup - its biggest
seller - inched up 3.5 percent.
Ford brand sales were down 6
percent while luxury Lincoln
sales plummeted 23 percent.
Toyota Motor Corp. sales
rose 4.5 percent to 182,195
vehicles. Sales of its top-seller,
the Camry sedan, jumped 12
percent as an updated version
went on sale. Luxury Lexus
sales also rose 5 percent.
Fiat Chrysler's sales fell 1
percent to 165,903. Jeep
brand sales jumped 12
percent and Alfa Romeo sales
were also up, but Ram truck
sales fell 14 percent because of
a drop in fleet buyers.
Chrysler, Dodge and Fiat sales
also fell on low consumer
demand for cars.
Nissan Motor Co. sales fell 4
percent to 129,930. Demand
for Nissan cars fell 17 percent
but truck and SUV sales were
up 9 percent, led by the Rogue
small SUV. Nissan's luxury
Infiniti brand saw sales fall 7
percent.
Honda Motor Co. sales fell 5
percent to 115,557. Sales of its
best-seller, the CR-V SUV,
dropped 19 percent despite a
recent redesign. Luxury Acura
sales were up 1 percent.
scandal after it admitted in 2015 to
cheating regulatory tests on millions
of cars worldwide-has found itself in
the spotlight again in recent weeks
after it emerged that monkeys had
been used in diesel emission tests.
The Wolfsburg-based firm was
nevertheless able to increase sales of
its own-brand cars 12.4 percent yearon-year
last month, claiming more
than 18 percent of the German
market, the KBA data showed.
Neither was there much impact
from the scandal on sales of BMW or
Mercedes-Benz-the two high-end
carmakers that helped finance the
primate study.
Over the first two months,
homegrown carmakers increased
their German sales by around 8.0
percent, while foreign manufacturers
saw their sales grow by 13 percent, the
VDA said.
Greece says
gets green
light for more
bailout funds
Greece said Friday that EU
experts have approved a
fresh cash injection under its
bailout loan programme
which is due to wrap up later
this year.
The Greek finance
ministry said in a statement
that the 5.7 billion euros
($7.0 billion) should be
disbursed in mid-March
following approval by
lawmakers in several
eurozone countries.
The approval by experts
working for the Eurogroup
of eurozone finance minister
marks the formal closure of
the third review by Greece's
creditors under the current
bailout programme.
The current programme
worth a total of 86 billion
euros agreed in 2015 runs
until August this year, after
which the southern
European nation hopes to
fully return to market
financing and get back on its
own two feet.
Polwel Super Market Malik Samiti election 2017-2020 was held recently. Kaium Talukder and Jasim
Uddin were elected as the president and general secretary in the election. Photo: Courtesy
Infineon, SAIC
set up electric
car joint venture
in China
German computer chip
maker Infineon said Friday it
is teaming up with China's
biggest car maker, SAIC
Motor Corporation, to
produce power modules for
the Chinese electric car
market, the world's biggest.
Infineon said in a statement
it will hold a 49-percent stake
in the new Shanghai-based
company, SAIC Infineon
Automotive Power Modules
(SIAPM), which will make
inverters-vital parts that
convert power from the
battery to a form that can be
used by the car's engine.
SAIC will hold the other 51
percent.
The joint venture has
already received the necessary
regulatory approval and will
begin large-scale production
in the second half of this year,
Infineon said.
SIAPM will focus on the
massive Chinese market for
electric or hybrid vehicles,
which saw 794,000 sales last
year according to local auto
industry association CAAM.
Meanwhile, Infineon will
continue independently to
supply customers outside
China.
Complex electric car quotas
that Beijing will enforce from
next year are expected to
accelerate a growing trend
towards electric mobility.
Annual production of
hybrid and all-electric cars in
China could reach two million
vehicles by 2020 and 4.3
million by 2024, or around 45
percent of the forecast global
market, Infineon said, citing
an IHS Markit analysis.
OPPO the Selfie Expert and
Leader in going to launch an
upgraded version of A71. It is
equipped with 5MP A.I.
Beauty Recognition
Technology Selfie Camera.
Together with OPPO's A.I.
Beauty Recognition
Technology, A71 2GB brings a
more realistic and natural
selfie experience to more
young consumers, along with
the 16GB ROM and 3000
mAh battery. As a whole
makes the A71 2GB a versatile
product, a press release said.
The Managing Director of
OPPO Bangladesh Damon
Yang confirmed about this
handset and said, "Yes, we will
be bringing A71 2GB in
Bangladesh's market as well.
We are going to launch this
handset on 6th of this month."
He added that, "OPPO claims
leadership in the Selfie feature
and being the leader in the
market we always want to give
the best in convenient price.
A71 2GB would be OPPO's
first A series that sports
Artificial Intelligence (AI)
technology for Selfies in the
entry level smartphone. We
expect this one would create
tremendous consumer delight
in the market."
OPPO A71 2GB is the new
generation Selfie expert. It will
come with a 5 MP front lens
with beauty recognition A.I
US President Donald
Trump on Friday welcomed
the prospect of a trade war,
remaining defiant in the face
of the global uproar sparked
by his sudden
announcement of steel and
aluminum tariffs.
With global stock markets
tumbling and allies riled, the
president greeted the
negative reaction by raising
the stakes and vowing even
harsher trade policies.
In a blistering series of
morning tweets, he said he
would seek to impose
"reciprocal taxes" on all
imports from trading
partners that charge duties
on American exports.
That would ratchet up the
a d m i n i s t r a t i o n ' s
EU and South American
bloc extend trade talks
The European Union and
the South American trade bloc
Mercosur are extending talks
on a free trade deal by a
couple of weeks to resolve
"four or five" outstanding
issues, officials from both
sides said on Friday.
Paraguay's foreign minister,
Eladio Loizaga, said the
discussions had advanced and
"we can be satisfied" with the
progress so far.
Even though the current
round of face-to-face talks
wrapped up in Paraguay's
capital on Friday, the decision
was taken to keep the
negotiations going through
teleconferencing and emails,
Loizaga said.
"We can't close them
completely. There are four or
five issues in this moment, but
I don't foresee a big problem,"
said Edita Hrda, the chief for
the Americas for the EU's
foreign policy service.
She said she expected the
deal could be signed before
June, when Paraguay's term
chairing the talks comes to an
end.
There is a desire among the
parties to reach agreement
before Brazil-
Latin America's biggest
economy-enters campaigning
for October presidential
elections.
Mercosur comprises Brazil,
Argentina, Paraguay and
Uruguay. Troubled oil
producer Venezuela was
suspended indefinitely from
the bloc last year.
Discussions between
Mercosur and the EU toward
tech. The A.I. Beauty
Recognition Technology that
effortlessly helps you are at
your best in photos.
OPPO A71 2GB is tailored
for outstanding performance
confrontational "America
First" trade policy far
beyond the hefty steel and
aluminum tariffs he
announced Thursday-which
come despite strenuous
objections from stunned
advisors and powerful
industry groups.
The wide-ranging actions,
if imposed, would eviscerate
the rules-based global
trading system the US
helped to build, and
drastically raise the chances
of a trade war.
But in an early morning
tweet Trump seemed to
welcome the prospect,
saying "trade wars are good,
and easy to win."
Allowing imports into the
US market duty free when
a free trade deal began two
decades ago.
Loizaga identified
automobiles and auto parts as
one of the biggest sticking
points remaining in the talks,
specifically technical
standards. Agriculture was
another.
and to where it matters most
for young consumers. The
super 2GB operating
memory allows young people
to enjoy their favourite games
while three independent card
Defiant Trump welcomes
‘easy to win’ trade war
similar exports face tariffs is
"not fair or smart," Trump
said on Twitter.
"We will soon be starting
RECIPROCAL TAXES so
that we will charge the same
thing as they charge us.
$800 Billion Trade Deficithave
no choice!"
He also defended his
decision Thursday to impose
25 percent tariffs on steel
imports and 10 percent on
aluminum.
And while some allies, like
Canada, had hoped to be
spared the tariffs, a senior
administration official said
Friday that Trump had ruled
out allowing countries to be
exempted, which could
inflame tensions even
further.
Any resulting accord with
the EU would blaze a path for
other free trade pacts with
Mercosur. Negotiations are to
begin next week between the
South American bloc and
Canada and Singapore, with
South Korea discussions due
to begin later.
Trump takes steel rod to markets
with trade war threat
Donald Trump's controversial decision to slap tariffs on
steel and aluminium imports, followed up with tweets
apparently welcoming a trade war, sent world stock markets
slumping.
Equity markets, already on edge over worries about rising
US interest rates, tanked after the president imposed levies
on the commodities in his "America First" policy.
The tariffs -- 25 percent on steel and 10 percent on
aluminium-cover two materials that are the lifeblood of the
construction and manufacturing sectors.
Trump followed up the tariff announcements with tweets
on Friday that boasted trade wars are easy to win and
threatened to impose reciprocal taxes on trading partners.
"Equity markets are under serious pressure after President
Trump revealed his plans to levy tariffs on imported steel and
aluminium," said market analyst David Madden at CMC
Markets UK.
"The decision is part of Trump's 'make America great again'
campaign, but traders fear it could trigger a trade war."
US markets, which nosedived on Thursday after the initial
announcement, fell at the opening bell on Friday. The Dow
Jones Industrial Average was down 1.2 percent in late
morning trading, after having lost 1.7 percent the day before.
European equities fell sharply, with Frankfurt tanking 2.2
percent on worries about the eurozone's powerhouse
German economy, with Paris falling even more -- 2.4
percent.
Slumping shares in mining companies penalised London's
FTSE 100, which ended the day down 1.5 percent.
"While Donald Trump considers himself pro-business, the
imposition of tariffs across the aluminium and steel sector
has led to fears over a collapse in global trade," added IG
analyst Joshua Mahony.
"The threat of a trade war was always likely to hit the
export-driven German economy hardest."
OPPO is bringing an upgraded Pocket-
Friendly Smartphone -A71 (2GB)
slots (Double Nano-SIM
cards with the TF slot) enable
users to have 2 mobile
numbers for phone calls, and
also to extend the phone
memory to 256GB.
'Only losers' in
US-EU trade war:
French minister
French Economy Minister
Bruno Le Maire warned the
United States against a trade
war with the EU on Friday,
saying there would "only be
losers" in such a standoff.
Le Maire said US President
Donald Trump's plans to
impose tariffs on steel and
aluminium imports would, if
confirmed, be "unacceptable".
He called for a "strong,
coordinated and united
response from the EU".
Trump triggered a furore on
Thursday by announcing he
would slap tariffs of 25
percent on steel and 10
percent on aluminium to
protect US producers.
The announcement caused
an outcry among US allies
such as Canada, the EU,
Mexico and Australia as well
as China, the world's biggest
steel producer.