24-10-2021

SUNDAY, OCTOBeR 24, 2021
11
American Airlines
bullish on holidays
after Delta variant hit
NEW YORK : American
Airlines said Thursday that
the latest surge in Covid-19
hit profitability in the latest
quarter, but that it was
bullish on the upcoming
holiday season, reports BSS.
The big US carrier enjoyed
a profitable July before the
spread of the Delta variant
pushed the company into
the red in both August and
September, American
executives said in a letter to
employees.
The company reported
$169 million in profits in the
third quarter, but the
bottom line would have been
a loss without an infusion of
US funds authorized by
Congress for carriers to
preserve airline jobs.
Revenues were $9 billion,
more than double the year
ago-levels, but about 25
percent below those in the
equivalent period of 2019.
"The American Airlines
team continues to
demonstrate its resilience
and ability to execute,
enabling us to deliver our
best quarter since the
pandemic began as
measured by pre-tax
financial results," said Chief
Executive Doug Parker.
Barclays bank reports
profit jump as
economy recovers
LONDON : British bank
Barclays on Thursday
announced a jump in profits
during the third quarter,
extending its recovery
following the pandemic fallout,
reports BSS.
Barclays said net profit more
than doubled to o1.45 billion
($2.0 billion, 1.7 billion euros)
in the three months to the end
of September compared with
one year earlier.
Profit after tax for the first
nine months stood at o5.25
billion, while the pre-tax level
of o6.9 billion was a record for
the group.
Chief executive James Staley
said the group was "seeing
evidence of a consumer
recovery and the early signs of
a more favourable rate
environment".
Banks in the UK have started
to raise interest rates on their
homes loans, as the Bank of
England prepares to increase
its main borrowing cost to
tackle high inflation.
A discussion meeting and distribution of white cane was held on the occasion of 53rd White Cane
Safety Day 2021 at Barishal Circuit House Conference Room on Saturday. State Minister for Water
Resources Ministry Zahid Faruk MP was the chief guest on the occasion while Ayub Ali Hawlader,
President of Barishal District Branch of National Association for the Visually Impaired presided
over the function.
Photo: Zihad Rana
Covid-19 cases reach 98,840
with 8 new in Rajshahi
RAJSHAHI: Eight more people tested
positive for Covid-19 in four districts
of the division on Friday, taking the
caseload to 98,840 since the
pandemic began in March last year,
reports BSS.
However, the new positive figure
shows a significant falling trend
compared to the previous day's figure,
said Dr Habibul Ahsan Talukder,
divisional director of Health, adding
that Thursday's infection figure was
19.
Besides, Wednesday's fresh
infection figure was just four, which
was the lowest-ever in the division
since the second wave of the pandemic
hit the country.
Meanwhile, the recovery count rose
to 94,962 in the division after another
five patients were discharged from the
hospitals on the same day.
The death toll reached 1,671,
including 685 in Bogura, 318 in
Rajshahi with 193 in its city, and 173 in
Natore, Dr Talukder added. Besides,
all the positive cases of Covid-19 have,
so far, been brought under treatment
while 22,968 were kept in isolation
units of different dedicated hospitals
for institutional supervision. Of them,
19,323 have been released.
Meanwhile, four more people have
been sent to home and institutional
quarantine afresh while 19 others
were released from isolation during
the same time. Of the eight new cases,
four were detected in Bogura, followed
Evergrande pays overdue interest
on offshore bond: state media
BEIJING - China's troubled property giant
Evergrande has made a key offshore interest
payment a day ahead of a weekend deadline,
state media said Friday, averting a default
for now, reports BSS.
The crisis at one of the nation's biggest
property developers, which is drowning in
$300 billion of debt, has hammered
investor sentiment and fuelled fears of a
spillover into the wider economy.
Evergrande is reported to have missed at
least $150 million in offshore bond
payments but agreed a deal in September to
Hasen Ali, a two-time former chairman of
Naodanga Union No. 1 in Fulbari Upazila of
Kurigram and president of the union Awami
League, has been nominated again for the boat
symbol in the upcoming UP elections. Marking the
occasion, more than two hundred motorcycle
marched through various streets of Naodanga
Union in joy on Saturday.
Photo: TBT
pay interest on a domestic bond. But on
Friday, the state-backed Securities Times
said the embattled developer had wired an
$83.5 million offshore payment first due on
September 23, citing "relevant channels".
It said bondholders would receive the
payout before Saturday-the end of a 30-day
grace period. Fears that Evergrande could
collapse and send shockwaves through the
Chinese economy have rattled buyers and
markets, and shares plunged as the group
resumed trading Thursday after a two-week
halt.
UK retail sales
extend slump
LONDON : UK retail sales volumes dropped for a fifth month in
a row during September, official data showed Friday, as the
country suffers supply constraints and high prices, reports BSS.
Sales volumes dropped 0.2 percent last month from August,
the Office for National Statistics said in a statement to register
the longest retreat on record.
"Household goods were the main driver of... (September's)
decline, with a fall of nearly 10 percent," noted Darren Morgan,
ONS director of economic statistics.
"Despite the lifting of (lockdown) restrictions, in-store retail
sales remain subdued, with many consumers still opting to shop
online," he added.
Although sales of petrol surged in late September as drivers
rushed to fill up their tanks, a UK fuel-shortage crisis likely
meant consumers visited stores only for necessities, analysts
said.
"Whether the products aren't available, the price tag is too
high, or shoppers have simply finished fettling with their home
decor, non food sales pulled down September's figures," noted
Danni Hewson, financial analyst at AJ Bell.
"Furniture stores have been warning for months that big
ticket, big size items have been caught up in the shipping crisis
and that seems to have worked its way through to consumer
sales."
by two in Pabna and one each in
"Sirajganj and Chapainawabganj
districts.
With the newly detected patients,
the district-wise break-up of the total
cases now stands at 28,068 in
Rajshahi, including 22,634 in city,
5,666 in Chapainawabganj, 6,405 in
Naogaon, 8,381 in Natore, 4,621 in
Joypurhat, 21,604 in Bogura, 11,393 in
Sirajganj and 12,704 in Pabna.
A total of 1,13,690 people have, so
far, been kept under quarantine since
March 10 last year to prevent the
community transmission of the deadly
coronavirus (COVID-19). Of them,
1,12,402 have, by now, been released as
they were given clearance certificates after
completing their 14-day quarantine.
Global oil prices
won't decline until
2023: World Bank
WASHINGTON : The
stunning recent runup in global
oil prices could threaten
economic growth, and is
unlikely to retreat until 2023,
the World Bank said Thursday,
reports BSS.
Average crude prices are
expected to end the year at $70
a barrel, 70 percent higher than
in 2020, according to the latest
Commodity Markets Outlook.
That in turn is pushing up
other energy prices like natural
gas, the report said.
"The surge in energy prices
poses significant near-term
risks to global inflation and, if
sustained, could also weigh on
growth in energy-importing
countries," said World bank
chief economist Ayhan Kose.
The increases have been
"more pronounced than
previously projected" and "may
complicate policy choices as
countries recover from last
year's global recession."
Oil prices in recent weeks
have surged above $80 a
barrel, the highest point in
years, as economies reopen
following the pandemic
shutdowns and amid shipping
bottlenecks.
The World Bank uses an
average of Brent, West Texas
Intermediate and Dubai which
it said will "remain at high
levels in 2022 but will start to
decline in the second half of the
year as supply constraints
ease."
Asian markets swing but
Evergrande payment
report provides boost
HONG KONG - Markets in Asia fluctuated Friday following a
record-breaking lead from Wall Street, while a report that
troubled developer China Evergrande had paid interest on an
overdue bond a day before the deadline eased concerns over a
default, reports BSS.
Another round of positive earnings provided a further lift to
Wall Street with the S&P 500 hitting its first all-time high
since the start of September as traders grow optimistic that
companies are weathering a range of issues including surging
inflation, supply chain snarls and slowing economic growth.
Surging prices around the world and central banks' moves
to bring an end to their financial largesse have acted as a
major drag on markets for months owing to the prospect that
the era of cheap cash is coming to an end.
"The bout of investor nervousness has proven transitory,
even as inflationary signals persist," said Geir Lode, at
investment manager Federated Hermes.
"Equity markets are back on the rise as investors shrug off
their recent concerns, with major indices near all-time highs.
Earnings season is now underway in the US and while it is
early days, the initial flurry of earnings have been well
received.
"The supply squeeze combined with increased demand is
particularly challenging, but blue-chip companies that can
prove their ability to maintain profitability in an inflationary
environment are likely to be well rewarded."
With South Korea, Singapore and New Zealand among the
countries already lifting interest rates-and the Bank of
England expected to act soon-all eyes are on the Federal
Reserve, which has indicated it will begin winding back its
bond-buying programme by the year's end.
Observers widely expect it to announce a move next month,
but the key question is when it will lift borrowing costs. Some
have estimated as soon as mid-2022.
After a blockbuster start to the week, the Asian rally has
petered out in the past two days.
Abul Hashem Mahajan
gets boat symbol
nomination again
Taiyubur Rahman, Char
Fasson Correspondent
The list of nominated
candidates of Awami League
in Char Fasson upazila of
Bhola district has been
finalized on Friday. The
Local Government
Nomination Board, headed
by Prime Minister of the
Government of the People's
Republic of Bangladesh, has
selected the nominee for the
post of chairman in the Char
Kukri-Mukri Union
Parishad election.
Incumbent chairman Abul
Hashem Mahajan has been
re-nominated as the party's
nominee for the post of
chairman. In the third phase
of UP elections which is
scheduled to be held on
November 28, polling will be
held in 8 unions of Char
Fasson including different
upazilas of the country.
Salehur Rahman Sajeeb of Joypurhat has been selected as the best Rover
Scout of Rajshahi Division. He is a first year student of Joypurhat
Siddiquia Kamil Model Madrasa. Certificates and crests were handed over
to the best Rover Scout, Innovative and Performance Award recipients at
the 45th Annual Council Meeting at Rover Scout Training Center at
Bahadurpur in Gazipur on Saturday.
Photo: TBT
Green University organized a two-day long international conference titled
'Innovation and Transformation for Development' yesterday. Photo : Courtesy
GD-1555/21 (9x3)