Trump Organization plans $1.5 bn golf project in Vietnam
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Donald Trump's hotel group is developing a $1.5 billion luxury resort and golf course in Vietnam; a memorandum of understanding was signed during a visit by Vietnam's leader To Lam to the US last month; Eric Trump witnessed the signing; the project includes a 54-hole course and residential villas outside Hanoi; Trump previously visited Vietnam in 2019 for a summit with Kim Jong Un; Eric Trump expressed excitement about entering the Vietnamese market; Kinh Bac City chairman praised the Trump family's hospitality standards.

#TrumpOrganization #Vietnam #GolfProject #Investment #RealEstate #EricTrump #KinhBacCity #LuxuryResort #Hanoi #Business

https://www.bssnews.net/business/215233 

 US Fed Chair sees 'further disinflation' in economy
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Federal Reserve Chair Jerome Powell stated on October 1, 2024, that the US is expected to experience further disinflation, with inflation cooling towards the Fed's target. This statement follows the Fed's recent interest rate cut of 0.5 percentage points, the first since 2020, aimed at easing inflation. Powell indicated that if economic conditions remain stable, additional rate cuts could occur, potentially totaling two more cuts this year. He noted improvements in prices of goods and a solid labor market, emphasizing the Fed's goal to maintain economic strength without causing significant unemployment.

#FederalReserve #JeromePowell #Disinflation #InterestRates #UsEconomy #Inflation #2024Elections #EconomicPolicy #LaborMarket #Tennessee

https://www.bssnews.net/business/213216 

 Restoring macroeconomic stability, law & order, confidence among entrepreneurs vital: Speakers | Business
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Speakers at a seminar in Dhaka on September 28, 2024, emphasized the need for restoring macroeconomic stability, law and order, and rebuilding confidence among entrepreneurs to streamline Bangladesh's economy. Key issues highlighted include ensuring food security, containing inflation, and boosting the tax-GDP ratio. Notable speakers included Dr KAS Murshid, Dr Mohammad Abu Eusuf, and Dr Md Salim Al Mamun. Dr Murshid stressed the importance of broad-based growth and investment in food and energy security, while Prof Eusuf identified RMG, remittance, and rice production as critical sectors. He also noted that the leather sector could generate $10 billion annually with adequate support. Dr Salim Al Mamun discussed the Bangladesh Bank's reforms and measures to contain inflation. DCCI President Ashraf Ahmed called for mid-term reforms and maintaining loan disbursement in the CMSME sector, warning that labor unrest could hinder growth.

#Bangladesh #Economy #MacroeconomicStability #Entrepreneurs #Inflation #FoodSecurity #Dcci #Seminar #Investment #Rmg

https://www.bssnews.net/business/212503 

 Florida girds for arrival of 'catastrophic' Hurricane Helene
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Hurricane Helene strengthened to a hurricane on September 25, 2024, with maximum sustained winds of 85 mph, expected to reach Florida's Gulf coast on September 26, 2024. The National Hurricane Center warns of life-threatening storm surges, damaging winds, and flooding rains. Helene could become a Category 4 hurricane with winds up to 130 mph. Florida Governor Ron DeSantis declared a state of emergency for nearly all counties, mobilizing the National Guard for potential rescue operations. Mandatory evacuations are in place for 16 counties, with two counties ordering full evacuations. The storm previously impacted Mexico's Yucatan peninsula and is expected to affect areas as far inland as Atlanta, Georgia. This hurricane follows the Category 3 Hurricane Idalia that hit Florida in August 2023, amid concerns about climate change's role in storm intensification.

#Hurricane #Helene #Florida #Emergency #Evacuation #StormSurge #ClimateChange #NationalGuard #Desantis #Biden

https://www.bssnews.net/news/211969 

 WTO, ITC commence implementation of fund for women exporters
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The WTO and ITC launched the Women Exporters in the Digital Economy (WEIDE) Fund on September 12, 2024, to support women in international trade and digital economy; WTO DG Ngozi Okonjo-Iweala and ITC Executive Director Pamela Coke-Hamilton signed the first grant agreement with the UAE government; The UAE contributed US$ 5 million to kickstart the fund; The WEIDE Fund aims to empower women-led micro and small enterprises with grants up to US$ 30,000 and technical assistance; The goal is to raise US$ 50 million, with an initial target of US$ 25 million; The fund will select four business support organizations in developing countries to assist women entrepreneurs.

#Wto #Itc #WomenExporters #DigitalEconomy #Funding #Uae #Grants #GenderEquality #InternationalTrade #BusinessSupport

https://www.bssnews.net/news/209228 

 Optimism of US firms in China at record lows: report
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American firms in China face unprecedented challenges, with optimism and profitability at all-time lows; AmCham Shanghai's report shows only 47% of 306 US businesses optimistic about the next five years, down from 52% last year; 66% reported profitability last year, another record low; geopolitical tensions between Beijing and Washington worsen, impacting trade; EUCCC warns of mounting risks and decreasing rewards for over 1,700 EU firms; consumer spending remains low, threatening deflation; Biden administration's tariffs raise fears of renewed trade war ahead of November's election; manufacturing overcapacity in sectors like solar panels and electric vehicles criticized by Western governments.

#UsFirms #China #Optimism #BusinessReport #Amcham #Euccc #GeopoliticalTensions #TradeTariffs #EconomicChallenges #Profitability

https://www.bssnews.net/business/209149 

 US jobs data point to weaker than expected market
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US jobs market growth was revised down by 818,000 jobs for the year through March 2024, averaging a reduction of 68,000 jobs per month; EY chief economist Gregory Daco stated the market is cooler but still positive; revisions do not include contributions from unauthorized immigrants, noted Nationwide chief economist Kathy Bostjancic; final job numbers are expected in early 2025; heightened scrutiny is present ahead of the November presidential election; Federal Reserve may begin interest rate cuts in September; July hiring data and rising unemployment raised recession fears; Navy Federal Credit Union economist Robert Frick indicated job growth remains strong but insufficient to match working age population growth; Fed Chair Jerome Powell's upcoming speech at Jackson Hole is anticipated for policy direction.

#UsJobs #Economy #FederalReserve #Employment #InterestRates #LaborMarket #RecessionFears #JobGrowth #EconomicOutlook #Politics

https://www.bssnews.net/business/205164 

 Trump rallies, Harris hits road in pre-convention campaigning
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Republican Donald Trump will hold a rally in Pennsylvania on Saturday, followed closely by Kamala Harris taking a bus tour through the crucial battleground state ahead of her big moment at the Democratic National Convention; Trump will highlight his dark vision of a failing America, which he blames on Harris and the Biden administration's liberal policies; Harris will be close on Trump's heels over the weekend before heading to the Democratic National Convention in Chicago; Harris is trying to distance herself from unpopular Biden policies while getting ahead of Trump's attempts to brand her as extreme; Harris held an event in North Carolina to unveil proposals for easing post-Covid pandemic inflation and fighting for working and middle-class Americans.

#DonaldTrump #KamalaHarris #UsPresidentialElection #DemocraticNationalConvention #Pennsylvania #NorthCarolina

https://www.bssnews.net/international/204327 

 Trump slams Harris on economy ahead of major policy rollout
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Donald Trump criticizes Kamala Harris on the economy, claiming her policies have caused inflation and harmed American families; Trump pledges to send wages soaring and make America affordable again; Consumer inflation eases to 2.9% in July, its lowest since March 2021; Trump mispronounces Harris's name and resorts to personal insults, calling her an 'incompetent socialist lunatic'; Trump makes fantastical claims about his own achievements, including passing the largest tax cuts in history; Harris is set to unveil a plan to lower costs for middle-class families and tackle corporate price gouging; Trump promises to reduce voters' energy costs by half within 12 months



https://www.bssnews.net/news-flash/204007 

 MH17 disaster: 10-year quest for justice for the 298 dead
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On July 17, 2014, Malaysia Airlines flight MH17 was shot down over war-torn eastern Ukraine, killing all 298 people on board. The plane exploded in mid-air while flying over eastern Ukraine's Donetsk region, where pro-Russian separatist rebels were battling Ukraine forces. The international probe in 2016 found that the plane was downed by a Russian-made BUK surface-to-air missile system. In 2019, four individuals were charged with murder, including three from east Ukraine's self-styled rebel Donetsk People's Republic and one from Ukraine. In November 2022, a Dutch court convicted three of them in absentia and sentenced them to life in prison. Russia denied any involvement and dismissed the court verdict as politically motivated. The MH17 crash investigators suspended their work in 2023 due to insufficient evidence to prosecute more suspects. The Netherlands and Ukraine have taken a case against Russia to the European Court of Human Rights. An investigation against Russia is ongoing at the International Civil Aviation Organization. Dutch Prime Minister Dick Schoof expressed disappointment that none of those responsible have been brought to justice.

#Mh17 #Disaster #Justice #Ukraine #Russia

https://www.bssnews.net/news/200575 

 Bangladesh, China agree to elevate relations to "comprehensive strategic cooperative partnership"
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Bangladesh and China have agreed to elevate their relations to a "comprehensive strategic cooperative partnership" from a "strategic partnership", according to a joint statement. The two countries have agreed to stay committed to the Five Principles of Peaceful Coexistence, foster greater synergy between their development strategies, advance Belt and Road cooperation, and celebrate the 50th anniversary of the establishment of China-Bangladesh diplomatic relations in 2025. They also discussed various aspects of the Global Development Initiative and agreed to strengthen coordination in international and multilateral affairs. China expressed support for Bangladesh's efforts in providing humanitarian assistance to displaced people from Myanmar, and both sides emphasized the importance of early repatriation to resolve the issue. The joint statement also highlighted cooperation in trade, investment, finance, agriculture, education, health, culture, tourism, and defense.

#Bangladesh #China #ComprehensiveStrategicCooperativePartnership #FivePrinciplesOfPeacefulCoexistence #BeltAndRoadCooperation #DiplomaticRelations #Myanmar #Trade #Investment #Finance #Agriculture #Education #Health #Culture #Tourism #Defense

https://www.bssnews.net/news/top-news/199636 

 WB approves $650m for Bangladesh to develop Bay Terminal
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The World Bank's Board of Executive Directors has approved $650 million to help Bangladesh invest in infrastructure critical for developing the Bay Terminal deep seaport. The Bay Terminal will significantly improve Bangladesh's global trade competitiveness and reduce import and export costs by increasing port operational efficiency and mobilizing private investment. The project will construct a 6 km climate-resilient breakwater, carry out dredging of the port basin, entrance, and access channels, and accommodate larger size vessels. The Bay Terminal, located in the Anandanagar/Sandwip channel, is expected to handle 36 percent of Bangladesh's container volumes and benefit over one million people. In FY 23-24, the World Bank committed a record $3.4 billion in support to Bangladesh.

#WorldBank #Bangladesh #BayTerminal #Infrastructure #Trade #Port

https://www.bssnews.net/news-flash/197482 

 Proposed budget for FY 25 to help bring stability in economy: lawmakers
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Lawmakers in Bangladesh have stated that the proposed budget for the fiscal year 2024-25 aims to curb inflation and bring stability to the country's economy. The budget, unveiled by Finance Minister Abul Hassan Mahmood Ali, sets a GDP growth target of 6.8 percent and includes significant allocations under the Annual Development Programme (ADP). The budget imposes a one percent duty on imported goods to help control rising inflation. Lawmakers have criticized the economic development during the military regimes led by General Zia and General Ershad. The proposed budget aligns with the government's electoral manifesto and focuses on controlling the price of essentials. It also reduces taxes on thirty items to bring the price of daily essentials under control. The budget allocates Taka 1,36,026 crore for FY25 under safety net programs to bring more people under their coverage. The proposed budget is titled "March towards Smart Bangladesh Following the Path of Sustainable Development" and is 4.6 percent larger than the current fiscal year's budget. Lawmakers have praised the budget for its focus on containing inflation, generating employment, and developing the blue economy. However, some have expressed concerns that the allocation under social safety nets did not increase for the people. The budget has been welcomed by lawmakers from various parties who participated in the general discussion at the Jatiya Sangsad. The budget is seen as crucial for the micro-economy and emphasizes the development of a smart Bangladesh, given the emerging challenges posed by the ongoing Ukraine-Russia war and Hamas-Israel-Palestine conflict. The discussion also paid tribute to the memory of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and other national leaders and martyred Freedom Fighters.

#Bangladesh #Budget #Economy #Inflation #Development #SafetyNets

https://www.bssnews.net/news/196214 

 Sweden cuts key rate for first time in eight years
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Sweden's central bank has cut its key interest rate for the first time in eight years, reducing it by a quarter-point to 3.75 percent. The bank cited easing inflation and hinted at two more rate reductions before the end of the year. Inflation in Sweden has slowed significantly in recent months, reaching 4.1 percent year-on-year in March, down from a peak of 12.3 percent in December 2022. The bank's benchmark indicator, adjusted for fixed interest rates, reached 2.2 percent. The rate cut was widely expected and the bank warned of uncertainty in the inflation outlook.

#Sweden #CentralBank #InterestRate #Inflation

https://www.bssnews.net/business/187825 

 Markets bounce as MidEast fears ease, US inflation in view
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Asian markets rose as Middle East tensions eased and traders awaited US inflation data and corporate earnings. Iran downplayed Israel's reported attack, leading to a cooling of tensions between the two countries. The lack of escalation over the weekend allowed traders to pick up equities and push oil prices down. Investors are now focused on the release of the personal consumption expenditures (PCE) index, the Federal Reserve's preferred gauge of inflation, which is due on Friday. The PCE report will play a major role in the central bank's decision-making on interest rates. Earnings from big-name firms including Alphabet, Tesla, and Microsoft are also expected this week.

#AsianMarkets #MiddleEastTensions #UsInflation #CorporateEarnings

https://www.bssnews.net/business/184969 

 Markets bounce as MidEast fears ease, US inflation in view
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Asian markets rose as Middle East tensions eased and traders awaited US inflation data and corporate earnings. Iran downplayed Israel's reported attack, leading to a cooling of tensions between the two countries. The lack of escalation over the weekend allowed traders to pick up equities and push oil prices down. Investors are now focused on the release of the personal consumption expenditures (PCE) index, the Federal Reserve's preferred gauge of inflation, which is due on Friday. The PCE report will play a major role in the central bank's decision-making on interest rates. Earnings from big-name firms including Alphabet, Tesla, and Microsoft are also expected this week.

#AsianMarkets #MiddleEastTensions #UsInflation #CorporateEarnings

https://www.bssnews.net/business/184969 

 Taking immediate preparation to sustain ship recycling industry stressed
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Speakers at a discussion emphasized the need for immediate preparations and actions to sustain Bangladesh's ship recycling industry. They stated that if the Treatment Storage and Disposal Facility (TSDF) in all yards are not compliant with the Hong Kong Convention by 2025, no new ship breaking approval for recycling will be obtained from the Ministry of Industry. The discussion also highlighted that Bangladesh is one of the leading ship recycling countries in the world. The Hong Kong International Convention, 2009 (Hong Kong Convention) was enacted for the safe and environmentally sound recycling of end-of-life ships.

#ShipRecycling #HongKongConvention #MinistryOfIndustry

https://www.bssnews.net/business/184364 

 Syria attack kills 8 pro-Iran fighters: monitor
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Eight Syrian fighters working with Iran's Revolutionary Guards were killed in a knife attack in eastern Syria's Deir Ezzor province. The attack was carried out by unidentified armed individuals in the Mayadeen area. The fighters were under the command of Iran's Guards and were slaughtered using knives. This is the second deadly attack on pro-Iran fighters in two days. Control of Deir Ezzor is split between US-backed Kurdish-led forces and Iran-backed Syrian government forces. Thousands of pro-Iran proxy fighters are deployed in Deir Ezzor province.

#Syria #Iran #RevolutionaryGuards #DeirEzzor #Mayadeen

https://www.bssnews.net/news/183156 

 Syria attack kills 8 pro-Iran fighters: monitor
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Eight Syrian fighters working with Iran's Revolutionary Guards were killed in a knife attack in eastern Syria's Deir Ezzor province. The attack was carried out by unidentified armed individuals in the Mayadeen area. The fighters were under the command of Iran's Guards and were slaughtered using knives. This is the second deadly attack on pro-Iran fighters in two days. Control of Deir Ezzor is split between US-backed Kurdish-led forces and Iran-backed Syrian government forces. Thousands of pro-Iran proxy fighters are deployed in Deir Ezzor province.

#Syria #Iran #RevolutionaryGuards #DeirEzzor #Mayadeen

https://www.bssnews.net/news/183156 

 Asian markets mixed as 'critical' US inflation data looms
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Asian stocks were mixed as attention turned to crucial US inflation data that could play a pivotal role in the Federal Reserve's decision-making on interest rates. Investors are lowering their expectations for how many cuts the Fed will deliver. Stocks surged in New York after closely watched March non-farm payroll figures came in way above estimates. However, a miss to the upside in this week's consumer price index report could send shivers through markets. Investors are now expecting about 60 basis points of cuts this year, suggesting just two reductions, with a less than 50 percent chance of three. The European Central Bank's policy meeting Thursday is expected to end with no change, but an improving inflation outlook has ramped up bets it will begin cutting soon. Tokyo rose on a weaker yen, Hong Kong, Sydney, Singapore, and Taipei were also in positive territory, but Shanghai, Seoul, and Wellington slipped.

#AsianMarkets #UsInflationData #FederalReserve #InterestRates

https://www.bssnews.net/business/183013 

 Holy Shab-e-Qadr observed in Khulna
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The holy Shab-e-Qadr, the most blessed night for Muslims in the month of Ramadan, was observed on Saturday night in Khulna with religious fervor. Muslim devotees passed the night in different mosques, offering special prayers, reciting from the Holy Quran, and engaging in other religious activities. Religious discussions were held throughout the night, and food, sweets, and money were distributed among the poor. Many devotees also visited graveyards to pray for the peace of departed souls. The observation of Shab-e-Qadr took place on April 7, 2024.



https://www.bssnews.net/district/182745 

 Jummatul Wida observed in Netrakona | District
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The holy Jummatul Wida, the last Friday of the holy month of Ramadan, was observed today by the Muslims through special prayers at all mosques across the district of Netrakona, Bangladesh. A large number of Muslim devotees participated in the Jummatul Wida congregations at all mosques in the district. Before the prayers, sermons were delivered at all mosques highlighting the significance of the Jummatul Wida. The main congregation of the day was held at Netrakona central Jam-e-mosque. Over one thousand devotees joined the prayers where Imam of the mosque Moulana Golam Mustafa Kamal delivered a sermon and conducted special prayers. In the prayers, blessings of almighty Allah were sought for eternal peace of departed souls, peace and progress of the nation, and welfare of mankind.



https://www.bssnews.net/district/182548 

 Confusion goes away due to improvement in economy: Mahmood Ali
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Finance Minister Abul Hassan Mahmood Ali stated that the shortage of foreign currency in Bangladesh has been eradicated due to the high flow of inward remittances and increasing export earnings. He mentioned that all sorts of confusion have gone away due to the improvement in the country's economy. The Finance Minister also dismissed the apprehension that Bangladesh would experience a situation like Sri Lanka, stating that the country is still alive and going strong. He assured that the country is moving ahead and all commodities are available in line with the demand of the people. The Finance Minister received a set of budget proposals from the Economic Reporters' Forum (ERF) and assured them of considering their proposals.

#Bangladesh #Economy #Finance #InwardRemittances #ExportEarnings

https://www.bssnews.net/news-flash/181644 

 Apollo to Artemis: Why America is betting big on private space
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A private Houston-based company, Intuitive Machines, is set to lead a mission to the Moon this week, marking America's first lunar landing since the end of the Apollo era. The mission is part of NASA's Artemis program, which aims to return astronauts to the Moon and eventually send humans to Mars. NASA has shifted its approach to space exploration, relying on the commercial sector to deliver breakthroughs at a fraction of the historic costs. The focus on private companies builds on the success of SpaceX, which has become NASA's favorite contractor. While the approach has its drawbacks, such as relying on unproven landing systems like SpaceX's Starship rocket, it allows for more competition and lower costs. However, there is a risk that the United States may fall behind China in achieving major milestones in space exploration. China has set a deadline of 2030 for its own crewed lunar landing. The Artemis program includes international partnerships to prevent it from being scrapped, and the first crewed lunar touchdown is expected to take place by 2026 at the earliest.

#SpaceExploration #Nasa #ArtemisProgram #PrivateSector #Spacex #MoonLanding #MarsMission #China

https://www.bssnews.net/news/173196 

 US public debt is 'unsustainable': Fed chief
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The United States is on an "unsustainable" path with regard to its national debt, according to Federal Reserve chief Jerome Powell. The US national debt currently stands at more than $34 trillion. Powell stated that the debt is growing faster than the economy and it is time for elected officials to have an adult conversation about addressing the issue. He also mentioned that it is widely understood that the US needs to prioritize fiscal sustainability. The Federal Reserve recently voted to leave interest rates unchanged and hinted that rate cuts were not imminent. Powell stated that it is unlikely that a rate cut would come at the next meeting in March. He believes inflation will continue to taper off in the first half of 2024 and the Fed will reassess its interest rate target in March.

#UsPublicDebt #FederalReserve #FiscalSustainability

https://www.bssnews.net/business/171809 

 IMF says central banks should not rush into rate cuts
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The International Monetary Fund (IMF) warns central banks against rushing into rate cuts, stating that the risk of premature easing is higher than being slightly behind. Managing Director Kristalina Georgieva advises central banks to act based on data and not keep interest rates tight if it is not necessary. The US Federal Reserve and the European Central Bank have held interest rates elevated to combat post-pandemic inflation. Georgieva believes the United States is close to achieving a 'soft landing' in terms of inflation and that a rate cut is a matter of months away. The IMF has extended its mission in Egypt to finalize an expansion of its $3 billion loan agreement, and it is not discussing a new program with Argentina. Georgieva praises Argentina's new president, Javier Milei, for his pragmatic approach to tackling the country's economic crisis.

#Imf #CentralBanks #RateCuts #Inflation #InterestRates #UsFederalReserve #EuropeanCentralBank #Egypt #Argentina #JavierMilei

https://www.bssnews.net/business/171403