Brussels, Oct 1 (AP/UNB) — The Irishman set to take over as the European Union's top trade official on Monday urged the United States not to launch an economically damaging tariff war with the bloc over subsidies to Airbus and Boeing.
The World Trade Organization ruled in May that Europe illegally subsidized Airbus, hurting U.S. competitor Boeing. The WTO is set shortly to allow President Donald Trump to slap tariffs worth billions of euros on European products — including wine, cheese and olives — in response. The EU has brought a similar case at the WTO accusing the U.S. government of illegally subsidizing Boeing, and a ruling in its favor is expected, but is still months off.
"I would ask the United States to negotiate with us rather than having a tit-for-tat trade war that only does damage to both economies," Phil Hogan told EU lawmakers at a hearing assessing his suitability for the post of EU trade commissioner. If endorsed by the European Parliament, he would take office along with the rest of the new European Commission team in November.
Hogan said "it doesn't make sense" for the Trump administration to launch a tariff war "seeing that they're going to have to deal with the issue if it goes badly wrong for them on Boeing."
"Europe has to stand up for itself as well, in terms of the products that we will identify in return," he added.
Trans-Atlantic trade tensions soared after Trump imposed tariffs of 25 percent on steel imports and 10 percent on imported aluminum from the EU last year. He said the move was to protect U.S. national security interests, but the Europeans claim it is simply protectionism and breaks global trade rules.
In response, the EU introduced "rebalancing" tariffs on about 2.8 billion euros ($3 billion) worth of U.S. steel, agricultural and other products. Trump has also threatened to slap duties on European automakers.
In an attempt to head off a tariff war, European Commission President Jean-Claude Juncker traveled to Washington to meet Trump, and a sketchy and very limited trade deal on industrial products emerged. But little progress has been made, and both sides accuse each other of dragging their feet.
Questioned by the lawmakers over how he would handle trans-Atlantic trade ties, Hogan said that "unfortunately we have not seen much movement on that agenda," but, he insisted, "we must not lose sight of the big picture" given the huge volume of U.S.-EU trade.
Before Trump came to office, the Europeans had been trying for three years to conclude a more wide-ranging Trans-Atlantic Trade and Investment Pact with the United States. The pact was meant to lift trade barriers between the world's biggest trading partners, spark sorely-needed economic growth and create new jobs.
Hogan also urged Washington to work with the Europeans on reforming the WTO, particularly its appellate body.
"We need the U.S. at the WTO," Hogan said, but he added that "we have no indication whatsoever from the United States that they are willing to work with the European Union or any other partner in order to deal with the reform that's necessary."
Dhaka, Sep 30 (UNB)- Robi, mobile network operator signed an multilateral agreement with micro-insurance provider, Arthik, and coastal based non-government development organisation, Sangram aiming to facilitate people in the rural communities of the country to avail smartphones.
Robi’s Executive Vice President, New Business & M-Money Products, Ahmed Armaan Siddiqui, Arthik’s Managing Director, Khalid Hossain and Sangram’s Director of HRM & Admin, Chowdhury Mohammad Moin signed the agreement at the Palli Karma Sahayak Foundation in Agargaon in presence of PKSF’s Deputy Managing Director, Md Fazlul Kader.
The agreement would allow the marginal people to get the opportunity of using smartphones with convenient price and EMI facility without having any credit card or even bank accounts.
Arthik will work as the digital inclusion aggregator platform who will be responsible for arranging the micro-insurance facility for all the handsets sold under this agreement by Robi. Sangram, the NGO, on the other hand, will analyze the credit behavior of their beneficiaries and encourage them to avail the smartphone from Robi.
They will also arrange different training and awareness programmes to promote the mobile handset financing programme. The micro-insurance provided by Arthik will work as the safety net for Sangram in case, anyone fail to pay the loans taken from Sangram for purchasing the handset.
Robi’s General Manager, New Business & M-Money Products, AM Shakhawath Hossain, Manager, New Business & M-Money Products, Raju Ahamed and Arthik’s Director, Tabassum Al- Atter and Nafiur Rahman were present on the occasion.
Dhaka, Sept 30 (UNB)- From now on, passengers can pay the fare directly through their bKash accounts while purchasing tickets of Novoair in any of the outlets located countrywide.
Novoair, a local private airline, and Mobile Financial Service Provider bKash have signed an agreement for opening merchant wallet facilities.
Mofizur Rahman, Managing Director of Novoair and Mizanur Rashid, Chief Commercial Officer of bKash have signed the agreement on behalf of their respective organizations at bKash head-office recently, said a press release.
Mesbahul Islam, Head of Marketing & Sales of Novoair and Irfanul Huq, Head of M-Commerce of bKash were also present there along with other high officials of both organizations.
Under this deal, customers can pay the ticket fare by simply scanning the QR code from bKash App in Novoair centers across the country. Currently, Novoair operates daily flights from Dhaka to Chittagong, Cox’s Bazar, Jashore, Sylhet, Saidpur, Barishal, Rajshahi and Kolkata.
Beijing, Sep 30 (AP/UNB) — China's top trade negotiator will lead an upcoming 13th round of talks aimed at resolving a trade war with the United States, a senior Chinese official said Sunday.
Vice Premier Liu He will travel to Washington for the negotiations, Vice Commerce Minister Wang Shouwen said. He didn't give exact dates, but said the talks would be after China's National Day holiday, which runs through Oct. 7.
"The two sides should find a solution through equal dialogue in accordance with the principle of mutual respect, equality and mutual benefit," Wang said at a news conference with other officials, including Commerce Minister Zhong Shan.
The Trump administration first imposed tariffs on Chinese imports last year in a bid to win concessions from China, which responded with tit-for-tat tariffs. The escalating dispute between the world's two largest economies has depressed stock prices and poses a threat to the global economy.
Both sides have made conciliatory gestures ahead of the next round of talks, but a deal remains elusive.
The U.S. postponed a further tariff hike on Chinese goods, and China lifted punitive duties on soybeans. The move helps both American farmers and Chinese pig breeders, who use soy as feed and are struggling with a devastating outbreak of African swine fever.
The Chinese government released a third round of 10,000 tons of pork from its reserves Sunday to try to stabilize rising prices ahead of the holiday, Vice Commerce Minister Qian Keming said at the news conference.
China also has increased pork imports 40 percent in the first eight months of this year, as well as those of other meats.
Qian said the average wholesale price of pork had edged down slightly during the week of Sept. 16-22 to 36.4 yuan ($5.11) per kilogram.
Dhaka, Sep 29 (UNB)- Islami Bank Bangladesh Limited (IBBL) held a conference on school banking at the auditorium of Chapainawabganj Club in cooperation with Bangladesh Bank on Saturday.
The conference was participated by 28 scheduled banks in the district.
Chaired by Abu Reza Md Yeahia, Deputy Managing Director of IBBL, Manoj Kumar Biswas, Executive Director of Bangladesh Bank Rajshahi Office was present at the conference as chief guest.
AFM Shahinul Islam, General Manager of Bangladesh Bank Rajshahi Office, Gazi Md Mahfuzul Islam, Deputy General Manager of Bangladesh Bank, Md Kawsar-ul-Alam, Senior Executive Vice President and Head of Rajshahi Zone, IBBL and Md Abdullah Salah Uddin Gazi, Assistant General Manager of Rajshahi Krishi Unnayan Bank addressed the conference as special guests.
Md Shajahan, vice president and head of IBBL Chapainawabganj Branch addressed welcome speech.
The executives and officials of the scheduled banks in Chapainawabganj along with students of 28 educational institutions of the district also participated in the conference.