15-02-2019

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ECONOMY & BUSINESS 10 FRIDAy, FEBRUARy 15, 2019 Chinese lose taste for French wine as economy cools A delegation of the Bangladesh Association of Publicly Listed companies (BAPLC), led by its President Azam J Chowdhury called on Mr. Tipu Munshi, MP, the Hon'ble Minister, Ministry of Commerce at the Bangladesh Secretariat recently. BAPLC congratulated Mr. Tipu Munshi, MP on assuming the office of the Minister, Ministry of Commerce. President BAPLC introduced the members of the Executive Committee and took up some important issues of the listed companies with the Minister. The delegation thanked the Minister for his patient hearing and wished himgreat success in this important new leadership role. Anis A. Khan, Vice President, BAPLC and Managing Director & CEO of Mutual Trust Bank Limited (MTB), EC Members Ruhul Amin, Chairman, Bangladesh Industrial Finance Co. Ltd, Abdullah Al Mahmud, Managing Director, Hamid Fabrics Ltd, Shahriar Ahmed, Managing Director Apex Foods Ltd. and Md. Amzad Hossain, Secretary-General of BAPLC were also present at the meeting. Photo : Courtesy PARIS : Sales of French wine and spirits to China fell last year, industry figures showed on Wednesday, in a further sign that a Chinese economic slowdown is hitting consumption. The Federation for Wine and Spirit Exporters (FEVS) said direct sales to mainland China, France's third-biggest export market, slumped 14.4 percent in 2018 to 1 billion euros ($1.13 billion). But it said the drastic decline had been partly compensated by an increase in exports to Singapore and Hong Kong, from where some French wine is re-routed to the mainland. Sales to all three Asian markets contracted by 1.5 percent last year to 2.5 billion euros, a reversal after years of double-digit growth fuelled by the growing taste for foreign alcohol, particularly high-end reds from Bordeaux. China's economy grew at its slowest pace in almost three decades in 2018 and lost more steam in the last quarter of the year as the Beijing government battled to cut massive debt and quell a US trade war. Antoine Leccia, head of FEVS, put a positive spin on the figures, saying exports to mainland China, Hong Kong and Singapore were still the second-best on record, "which confirms the long-term dynamics of the Chinese market." French wine makers have experienced only one other major blip in China over the last 15 years of explosive growth. In 2013 and 2014, an anti-corruption drive by the Communist party coincided with a fall in demand for luxury goods, with wine sales declining as a result. "The only producer country which saw its exports (to China) increase last year was Chile because there are no import duties since 2016 thanks to a free-trade agreement," Leccia added. Italian and Spanish producers were also hit by the downturn, he said. Worldwide, French wine and spirits exports grew 2.4 percent last year to 13.2 billion euros, driven by appetite for the country's three most famous products: Champagne, Bordeaux wine and Cognac. The largest export market remains the United States, where sales increased 4.6 percent. Exports are a key driver for the French wine and spirits industry as it confronts falling consumption at home. They are also one of the biggest foreign exchange earners for the country. In under 20 years, wine consumption per capita in France has fallen by more than 20 percent, according to the latest figures from the International Wine Organisation. The decline is attributed to changing wine drinking habits - people drink less, but higher quality - as well as a growing taste for rival alcohols such as beer. Israel in trade balancing act between US and China JERUSALEM : Torn between China and the United States, which have been in a trade war for the past year, Israel is performing a tough balancing act between its two main economic partners. Washington has raised concerns over China's increased role in infrastructure and sensitive sectors such as technology of its close ally Israel, with which it shares close intelligence and military cooperation. These have reportedly been aired during visits to Jerusalem since January by both US Assistant Secretary of Energy Dan Brouillette and National Security Advisor John Bolton. The latter's talks focused on the northern Israeli commercial and naval port of Haifa, according to Israeli media. Hong Kong-based Shanghai International Port Group won a tender four years ago to manage a new wharf at the port complex where US warships regularly dock. Former Israeli ambassador to China Matan Vilnai has said it was "madness" to entrust China with the management of such a "national security asset". Nadav Argaman, head of Shin Bet, the domestic Israeli security service responsible for counterintelligence, has reportedly warned against Chinese investments that could facilitate espionage activities. A former chief of the Mossad spy agency, Ephraim Halevy, has delivered similar warnings. Danny Catarivas, a foreign trade expert at the Manufacturers Association of Israel, says Washington is putting pressure on Israel for tighter controls. "The United States is now pushing and insisting that Israel follow its example and create a foreign strategic investment control agency," he told AFP. He said Israel's security cabinet has decided to set up a committee -including representatives of the intelligence services - to oversee any foreign investment considered "strategic". Asked by AFP, several official spokespersons refused to comment, with one saying that relations with China were "hyper-sensitive". Chinese exports unexpectedly perk up in January BEIJING : Chinese exports unexpectedly rose last month, according to official data released on Thursday just as China sat down for crucial trade talks in Beijing with its top trade partner the United States. Exports rose 9.1 percent in January from a year earlier, data from the customs administration showed, ahead of forecasts and turning a corner after exports fell in December, reports BSS. China's imports, however, continued to fall in January, down 1.5 percent from a year earlier, though at a slower pace than a 10.2 percent decline forecast by Bloomberg News. Analysts cautioned that it is difficult to compare trends at the start of each year due to the Chinese New Year holiday, which came in early February this year and can affect business activity. "The broad trend in shipments still appears to be pointing down," said Julian Evans-Pritchard of Capital Economics. "The downbeat outlook for global growth means that this year is likely to be challenging for Chinese exporters, even if the ongoing US-China trade negotiations culminate in a deal," Evans-Pritchard wrote in a research note. Officials from the world's top two economies are holding negotiations in Beijing on Thursday and Friday in a bid to resolve their thorny trade dispute. China and the US have already imposed new duties on more than $360 billion in two-way trade, which has weighed on their manufacturing sectors and shaken global financial markets. Pressure to seal an accord ahead of a March 1 deadline set by Donald Trump appears to have eased slightly after the US president indicated he was open to extending a trade truce depending on progress in Beijing. Trump in December postponed plans to sharply hike tariffs on $200 billion of Chinese imports to allow more time for negotiation. A slew of bad economic data has added to concerns about China's economy, which grew at its slowest pace in almost three decades last year. Trump tariffs bring in additional $9 bn in first quarter USA : The steep trade tariffs President Donald Trump imposed last year brought an additional $9 billion into the government's coffers from October to December but the deficit was still 42 percent higher than the prior year, the US Treasury reported Wednesday. Trump has repeatedly touted the tariffs imposed last year, notably on $250 billion in annual imports from China, as a windfall for the US government, paid by Chinese firms, when in fact they are paid by American companies. China now is "paying billions of dollars a month for the privilege of coming into the United States," Trump said Tuesday. Total customs duties collected rose to $18 billion compared to the same period of 2017, while December amount doubled to $6 billion, according to the monthly budget statement. Trump also imposed steep punitive tariffs on steel and aluminum imports, as well as other goods like solar panels and washing machines, in a bid to protect US industry, which drew retaliation from American trading partners. But despite the increase in duties collected, the US fiscal deficit in the first quarter of the 2019 fiscal year, which began October 1, widened by $94 billion to $319 billion due to an increase in spending of nearly $100 billion, the report showed. The increased outlays included big jumps for Medicare, Social Security, defense spending and an $18 billion increase in interest on the public debt - For the fiscal year ended through September 2018, the deficit was $779 billion. Hamdard Laboratories has taken initiative to provide health service at Biswa Ijtema ground for the Muslim devotees. Photo : Courtesy An Agreement signed between First Security Islami Bank Limited (FSIBL) and a2i (Access to Information) for collecting utility bills through FSIBL Mobile Banking "FirstPay SureCash" & FSIBL i-Banking, using the EkPay Payment Portal. EkPay is a project of a2i under ICT Ministry, providing a single point payment platform for customers. Mr. Syed Waseque Md. Ali, Managing Director of FSIBL, and Mr. Md. Mustafizur Rahman, PAA, Additional Secretary & Project Director of a2i signed the agreement on behalf of their own organizations. Among others, Md. Mustafa Khair, Deputy Managing Director of FSIBL, Ali Nahid Khan, SVP and Head, Md. Faridur Rahman Jalal, VP, Alternative Delivery Channel Division, ABM Arshad Hossain, Additional Secretary, ICTD, Tohurul Hasan, Programme Manager of a2i & Shahadat Hossain, National Consultant of a2i, along with the other officials of both the organizations were also present on the occasion. UK’s May fights to avoid another defeat on Brexit strategy The 308th Board Meeting of Standard Bank Ltd. was held on 14 February 2019 at SBL Board Room, Head Office, Dhaka. Honorable Chairman of the Board of Directors Mr Kazi Akram Uddin Ahmed presided over the meeting. It was attended by Vice Chairman Al-Haj Mohammed Shamsul Alam, Directors Mr Kamal Mostafa Chowdhury, Ashok Kumar Saha, Ferozur Rahman, S. A. M. Hossain, Mohammed Abdul Aziz, Gulzar Ahmed, Md. Zahedul Hoque, Ferdous Ali Khan, Kazi Sanaul Hoq, S. S. Nizamuddin Ahmed, Najmul Huq Chaudhury and Md. Nazmus Salehin. Managing Director and CEO of the Bank Mamun-Ur-Rashid, Additional Managing Director Md. Tariqul Azam and Deputy Managing Director Md. Motaleb Hossain were present at the meeting. Photo : Courtesy UK : British Prime Minister Theresa May was scrambling Thursday to avoid another defeat on her Brexit strategy amid opposition from members of her own party who claim she is moving in the wrong direction in efforts to overcome the impasse blocking a deal. Hard-line pro-Brexit lawmakers in May's Conservative Party say a motion to be voted on in Parliament later effectively rules out the threat of Britain leaving the European Union without an agreement on future relations, a move they say undermines Britain's bargaining position. They are threatening to vote against the government, or abstain, in a vote intended to buy the government more time to seek changes from the EU to a Brexit divorce agreement that was overwhelmingly rejected by lawmakers last month. International Trade Secretary Liam Fox, a prominent Brexit supporter in Cabinet, warned that a government defeat, though not legally binding, would send the wrong signal to the EU. "They will be looking to see whether Parliament is showing consistency," he said. "I think that there's a danger that we send the wrong signals and I think that we need to understand that the public want us to leave the European Union but they would prefer us to leave the European Union with a deal." May has refused to rule out a "nodeal" Brexit as she attempts to win concessions from the bloc. Most businesses and economists the British economy would be severely damaged if the country crashed out of the EU on the scheduled Brexit date of March 29 without a deal, bringing tariffs and other impediments to trade. International Trade Secretary Liam Fox, a prominent Brexit supporter in Cabinet, warned that a government defeat, though not legally binding, would send the wrong signal to the EU. "They will be looking to see whether Parliament is showing consistency," he said. The remaining 27 EU nations insist that the legally binding withdrawal agreement struck with May's government in November can't be renegotiated. Leaders of the bloc have expressed exasperation at Britain's desire for last-minute changes, and failure to offer firm proposals. European Council President Donald Tusk, who chairs summits of EU leaders, said in a tweet: "No news is not always good news. EU27 still waiting for concrete, realistic proposals from London on how to break #Brexit impasse."
MISCELLANEOUS FRIDAY, FeBRuARY 15, 2019 11 A discussion meeting was held at National Press Club yesterday marking International Mother Language Day. Photo : TBT Border security brawl seems near a serene resolution Congress is set to resolve its clattering brawl with President Donald Trump in uncommonly bipartisan fashion as lawmakers prepare to pass a border security compromise providing a mere sliver of the billions he's demanded for a wall with Mexico and averting a rekindled government shutdown this weekend, reports UNB. With Trump's halfhearted signature widely expected but hardly guaranteed, congressional leaders planned votes Thursday on the sweeping package. Passage first by the Republican-led Senate, then the Democratic-controlled House, was virtually certain, with sizable numbers of both parties' members set to vote "yes." Bargainers formally completed the accord moments before midnight Wednesday. "I'm sure it's going to pass. I don't know of any drama," said House Democrats' chief vote-counter, Rep. James Clyburn, D-S.C. Trump's assent would end a raucous legislative saga that commenced before Christmas and was ending, almost fittingly, on Valentine's Day. The low point was the historically long 35-day partial federal shutdown, which Trump sparked and was in full force when Democrats took control of the House, compelling him to share power for the first time. When Trump yielded Jan. 25 after public opinion turned against him and congressional Republicans, he'd won not a nickel of the $5.7 billion he'd demanded for his wall but had caused missed paychecks for legions of federal workers and federal contractors and lost services for countless others. It was a political fiasco for Trump and an early triumph for House Speaker Nancy Pelosi, D-Calif. The fight left both parties dead set against another shutdown. That sentiment weakened Trump's hand and fueled the bipartisan deal, a pact that contrasts with the parties' still-raging differences over health care, taxes and investigations of the president. The product of nearly three weeks of talks, the agreement provides almost $1.4 billion for new barriers along the boundary. That's less than the $1.6 billion for border security in a bipartisan Senate bill that Trump spurned months ago, and enough for building just 55 miles of barricades, not the 200-plus miles he'd sought. Notably, the word "wall" - which fueled many a chant at Trump campaign events and rallies as president - does not appear once in the 1,768 pages of legislation and explanatory materials. "Barriers" and "fencing" are the nouns of choice. The compromise would also gradually pressure Immigration and Customs Enforcement, or ICE, to gradually detain fewer unauthorized immigrants. To the dismay of Democrats, it would still leave an agency many of them consider abusive holding thousands more immigrants than it did last year. The measure contains money for improved surveillance equipment, more customs agents and humanitarian aid for detained immigrants. The overall bill also provides $330 billion to finance dozens of federal agencies for the rest of the year. Trump has talked for weeks about augmenting the agreement by taking executive action to divert money from other programs for wall construction, without congressional sign-off. He might declare a national emergency, which has drawn opposition from both parties, or invoke other authorities to tap funds targeted for military construction, disaster relief and counterdrug efforts. The product of nearly three weeks of talks, the agreement provides almost $1.4 billion for new barriers along the boundary. That's less than the $1.6 billion for border security in a bipartisan Senate bill that Trump spurned months ago, and enough for building just 55 miles of barricades, not the 200-plus miles he'd sought. Notably, the word "wall" - which fueled many a chant at Trump campaign events and rallies as president - does not appear once in the 1,768 pages of legislation and explanatory materials. "Barriers" and "fencing" are the nouns of choice. The compromise would also gradually pressure Immigration and Customs Enforcement, or ICE, to gradually detain fewer unauthorized immigrants. To the dismay of Democrats, it would still leave an agency many of them consider abusive holding thousands more immigrants than it did last year. 52 Syrians detained in Turkey over suspected IS links Turkish police on Thursday detained at least 52 Syrians in the northwestern province of Bursa over their suspected links to the Islamic State (IS) militant group, reports UNB. Counter-terrorism units launched simultaneous operations in five locations across the city to catch the suspects, according to the private Demiroren news agency. Police also seized organizational documents and digital materials during the raids, the agency said. More than 300 people were killed in deadly attacks in Turkey over the years blamed on the IS. Iran vows revenge for deadly terrorist attack on IRGC Iranian Foreign Ministry said Thursday the perpetrators of the recent deadly terrorist attack on the Iranian security guards should await the revenge, reports UNB. Iranian military and security forces will certainly take revenge for the terrorist attack soon, the spokesman for Iranian Foreign Ministry, Bahram Qasemi, was quoted as saying by Press TV. A suicide terrorist attack targeted the personnel of the Iran's Islamic Revolutionary Guard Corps (IRGC) in Iran's southeastern Sistan and Baluchestan province on Wednesday. According to the latest statement by the IRGC, at least 27 guards were killed and 13 others were injured in the attack. Jaish al-Adl Sunni rebel group which is based in Pakistan, has claimed responsibility for the attack. Several dozen miners believed trapped after Zimbabwe floods Media in Zimbabwe say several dozen artisanal miners are missing after rains flooded mines while they were underground, reports UNB. State broadcaster ZBC said late Wednesday that 38 miners were trapped underground, while the state-run Herald newspaper put the number at 23. Fentanyl deaths from 'Mexican oxy' pills hit Arizona hard Aaron Francisco Chavez swallowed at least one of the sky blue pills at a Halloween party before falling asleep forever. He became yet another victim killed by a flood of illicit fentanyl smuggled from Mexico into the Southwest - a profitable new business for drug gangs that has pushed the synthetic opioid to the top spot for fatal U.S. overdoses, reports UNB. Three others at the party in Tucson also took the pills nicknamed "Mexican oxy" and police flagged down by partygoers saved them by administering naloxone overdose reversal medication. But the treatment came too late for Chavez, who died at age 19. The four thought they were taking oxycodone, a much less powerful opioid, investigators believe. The death of Chavez and many others, officials said, illustrate how Arizona and other southwestern states bordering Mexico have become a hot spot in the nation's fentanyl crisis. Fentanyl deaths tripled in Arizona alone from 2015 through 2017. "It's the worst I've seen in 30 years, this toll that it's taken on families," said Doug Coleman, the U.S. Drug Enforcement Administration special agent in charge of Arizona. "The crack (cocaine) crisis was not as bad." With plenty of pills and powder sold locally out of the arriving fentanyl shipments that are also distributed around the U.S., the drug that has surpassed heroin for overdose deaths has touched all Arizona demographic groups. Chavez' family says he was working at a restaurant as a prep cook with dreams of becoming a chef and trying to turn his life around after serving prison time for a The Saudi-led coalition involved in a war in Yemen on Wednesday denied four allegations against the coalition, Saudi Press Agency (SPA) reported, reports UNB. The denial was made by Mansoor Al Mansoor, spokesman of the coalition's Joint Incident Assessment Team (JIAT) in Yemen at a press conference. The first case was reported by the Amnesty International about a coalition missile that hit a farm in Yemen's northwestern province of Hajjah in October 2015, which turned out to be wrong, Al Mansoor said. He also rejected a second claim by the Office of the UN High Commissioner for Human Rights in August 2018 that the coalition targeted a sports club in Yemen's northern province of Saada, which killed 12 civilians and injured seven others. JIAT's investigations have proven that the club was a Houthi military position, and attacking it was in line with the international laws, the spokesman explained. robbery conviction. Also killed in the state over the last year by the pills that go for $9 to $30 each were a 17- year-old star high school baseball pitcher from a Phoenix suburb and a pair of 19-yearold best friends and prominent former high school athletes from the mountain town of Prescott Valley. The parents of one, Gunner Bundrick, said their son's death left "a hole in our hearts." Popping the pills at parties "is a lot more widespread than we know," said Yavapai County Sheriff's Lt. Nate Auvenshine. "There's less stigma to taking a pill than putting a needle in your arm, but one of these pills can have enough fentanyl for three people." Stamped with "M"on one side and "30" on the other to make them look like legitimate oxycodone, the pills started showing up in Arizona in recent years as the Sinaloa cartel's newest drug product, said Tucson Police Lt. Christian Wildblood. The fentanyl that killed Chavez was among 1,000 pills sneaked across the border crossing last year in Nogales, Arizona by a woman who was paid $200 to tote them and gave two to Chavez at the party, according to court documents. It's unknown if he took one or both. The four thought they were taking oxycodone, a much less powerful opioid, investigators believe. The death of Chavez and many others, officials said, illustrate how Arizona and other southwestern states bordering Mexico have become a hot spot in the nation's fentanyl crisis. Fentanyl deaths tripled in Arizona alone from 2015 through 2017. Saudi-led coalition involved in Yemen's war denies 4 allegations Al Mansoor also denied a report by a team of experts in Yemen issued in January which accused the coalition of killing four people in an attack on a fishing boat in April 2017. No operation was carried out by the coalition on this day, he stressed. On a report presented by the UN Office for the Coordination of Humanitarian Affairs in 2018 that the coalition launched an airstrike near the staff accommodation of the World Food Program, Al Mansoor said the information mentioned in the report was distorted. All investigations are based on evidence, documents and satellite images, he stressed. For the last three years, Saudi Arabia has been leading the war in Yemen against the Iranian-allied Houthi rebels in support of the Yemeni exiled government. For the last three years, Saudi Arabia has been leading the war in Yemen against the Iranian-allied Houthi rebels in support of the Yemeni exiled government. GD-278/19 (8 x 4) Iqvmv-RtZt- 79/19 GD-280/19 (8 x 4)
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15-02-2019

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