Business

Japan's Denso unveils $1 bn investment in US for electric cars

  

Pns: Japanese auto supply giant Denso announced plans Friday to invest $1 billion to expand its US operations to focus on technology for automotive safety and electric vehicles. The investment is expected to create 1,000 new jobs at Denso's facility in Tennessee, according to the company. "This is an investment in the future of Denso, and also the future of transportation.We are seeing dramatic shifts in the role of transportation in society, and this investment will help...

In-house training adds to RMG benefits: ILO

  

Pns: When skill shortage is seen a major constraint to steady growth of the country's apparel industry, in-house training for skill development of garment employees and workers has become a panacea bringing in huge benefit to this sector. The International Labour Organisation (ILO) in a recent article has observed that companies are gaining from the in-house training when the employees and workers are earning more as well. In the article, ILO also shared the experiences of employers...

Philippines tobacco giant pays $586 mn to settle tax case

  

Pns: The Philippines said Friday it has dropped a tax evasion case against the country's number-two cigarette manufacturer after it was sold to Japan Tobacco to raise funds for a record 30 billion-peso ($586 million) settlement. Manila had accused Mighty Corp of using counterfeit tax stamps to avoid paying 37.88 billion pesos in taxes, and threatened it with criminal charges.However in July, President Rodrigo Duterte ordered the finance department to accept a settlement, under...

Spain’s big bank considers abandoning Catalonia

  

Pns: Spain’s fifth-biggest bank Sabadell have discussed yesterday whether to shift its registered headquarters away from Catalonia due to leaders’ threats to declare independence, a company spokesman said. The Catalan lender, the second-biggest bank in the north eastern region, convened a board meeting after its stocks plunged as a political crisis between Catalonia and Madrid intensified. There is a board meeting which took place 1500 GMT yesterday and a possible shift of domicile “is one...

President for enhanced trade ties with Sweden, Canada

  

Pns: President M Abdul Hamid sought enhanced trade ties with Sweden and Canada by availing existing potentials as newly appointed envoys of the two countries presented their respective credentials to him at Bangabhaban here today. The President also stressed on exchanging high-level visits at government and private sector levels for consolidating the existing relations. According to a Bangabhaban spokesman, Ambassador-designate of Sweden Cahrlotta Schlyter and High...

Former Intel chief Paul Otellini dies

  

Pns: Intel on Tuesday announced that former chief executive Paul Otellini died in his sleep a day earlier, at the age of 66. Otellini worked for Intel for some 40 years, serving as chief from 2005 until he retired in 2013, according to the Silicon Valley based computer chip giant."We are deeply saddened by Paul's passing," his successor, Intel CEO Brian Krzanich, said in a release."He was the relentless voice of the customer in a sea of engineers."Otellini was credited...

All set to sign final deal of 3rd Indian LoC

  

Pns: Bangladesh is all set to sign the final agreement of the third Indian Line of Credit during the visit of Indian Finance Minister Arun Jaitley who is scheduled to arrive in Dhaka today. Finance Minister Arun Jaitley is expected to arrive in Dhaka today on a two-day official visit. Agreement of third Indian line of credit will be signed on October 4.During his visit, defence-related procurements are likely to be discussed along with quick implementation of the $4.5 billion...

Indian Finance Minister to visit Bangladesh Oct 3-5

  

Pns: Indian Minister of Finance and Corporate Affairs Arun Jaitley will pay a 3-day official visit from Tuesday to take forward the economic relations between the two countries and discuss ways to further strengthen the ties. He will be visiting Bangladesh at the invitation of Finance Minister Abul Maal Abdul Muhith, a senior official told UNB on Monday.The two Ministers are expected to review the status of economic cooperation and development partnership initiatives taken during...

Ghana wakes up and smells the coffee

  

Pns: Like many people around the world, 80-year-old Kofi Afadi can't start his morning without a cup of coffee. "Every morning when I take coffee I feel happy and go about my day," the farmer told AFP in his village in the green hills between Lake Volta in Ghana and the border with Togo. "When there is no coffee it seems I am the most miserable person around here," he said.In common with many of his fellow coffee farmers, Afadi, whose dark hair and moustache are speckled white,...

Poor loan recovery rate puts project in trouble

  

Pns: The rate of loan recovery from the revolving fund of ‘One House One Farm’ project looks to be low as it notched 44.78 per cent on average creating delaying the process in providing loan to other borrows, reports UNB. This was revealed in a monitoring report on the project conducted by the Imple-mentation, Monitoring and Evaluation Division (IMED) of the Ministry of Planning.Some 40,333 village-development Samities (cooperatives) have already been formed under the project...

Developed by Diligent InfoTech