Tokyo, Dec 12 (AP/UNB) — Asian shares rose Wednesday amid hopes for U.S.-China trade talks.
ASIA'S DAY: Japan's benchmark Nikkei 225 added 1.7 percent in early trading to 21,501.95. Australia's S&P/ASX 200 edged up 0.8 percent to 5,618.70. South Korea's Kospi was up nearly 1.0 percent at 2,073.20. Hong Kong's Hang Seng added 1.5 percent to 26,166.63, while the Shanghai Composite index rose 0.5 percent to 2,607.24.
TRADE TALKS: Recent media reports say China agreed to reduce tariffs on U.S. autos. That raised hopes the two countries can make progress on their trade dispute. Investors worry weaker global trade would dent economic growth around the world and corporate profits.
WALL STREET: The S&P 500 dipped by 0.94 points, or less than 0.1 percent, to 2,636.78, while the Dow Jones industrial average fell 53.02, or 0.2 percent, to 24,370.24, and the Nasdaq composite rose 11.31, or 0.2 percent, to 7,031.83. Slightly more stocks fell on the New York Stock Exchange than rose.
THE QUOTE: "U.S.-China trade developments appear to be the outstanding item set to aid Asia markets," said Jingyi Pan, market strategist at IG in Singapore. "Much needed positive news in the form of auto tariff reduction underpinned the early optimism."
ENERGY: Benchmark U.S. crude oil gained 64 cents to $52.29 a barrel. It rose 65 cents to settle at $51.65 per barrel Tuesday. Brent crude, the international standard, gained 67 cents to $60.87.
CURRENCIES: The dollar rose to 113.49 Japanese yen from 113.08 yen late Tuesday. The euro slipped to $ 1.1333 from $1.1384.
Dhaka, Dec 11 (UNB)- Al-Arafah Islami Bank Ltd (AIBL) on Monday opened its 165th branch at Elenga of Tangail district.
Chairman of Audit Committee of the Bank Amir Uddin formally inaugurated the new branch as Chief Guest at a function chaired by Managing Director and CEO Farman R Chowdhury.
Vice President and Head of Public Relations Jalal Ahmed moderated the programme, said a press release.
Executive Vice President and Zonal Head of Dhaka North Zone Md Monjurul Alam delivered the welcome speech in the programme where, Executive Vice President of the Bank Engr. Md Habib Ullah, prominent businessmen Manjurul Kader Babu and Abdul Halim Sarkar also addressed the function.
Md Amir Uddin said the AIBL was established not for making profit by doing business but for the welfare of society.
Managing Director and CEO of the Bank Farman R Chowdhury explained various statistics of the Bank.
Tokyo, Dec 11 (AP/UNB) — A Tokyo court ruled Tuesday that Nissan Motor Co.'s former chairman, Carlos Ghosn, and another executive will remain in custody through Dec. 20, more than a month after their arrest. Their detention could continue for months more under the Japanese legal system.
Ghosn's lawyer filed a protest with the court against the prolonged detention, the Tokyo District Court said.
The court decision comes a day after Ghosn, fellow Nissan executive Greg Kelly and Nissan Motor were charged with violating financial laws by underreporting Ghosn's pay by about 5 billion yen ($44 million) in 2011-2015. They were arrested on Nov. 19 and are being held at a Tokyo detention center.
The extension of their detention is to allow time for investigation into additional allegations prosecutors issued Monday, against Ghosn and Kelly, of underreporting another 4 billion yen ($36 million) in 2016-2018.
The arrest of the man credited with saving Nissan when it was on the verge of bankruptcy two decades ago has stunned many and has raised concerns over the Japanese automaker and the future of its alliance with Renault SA of France.
No trial date has been set, as is routine in Japan. Prosecutors can add more allegations to extend detention, and it remains unclear when Ghosn and Kelly might be released.
The prosecutors say they consider Ghosn and Kelly flight risks.
Ghosn's legal team has not issued an official statement, but those close to him have said he is asserting innocence. The office of Motonari Ohtsuru, one of the lawyers, declined comment, saying he was not there.
The U.S. lawyer for Kelly, Aubrey Harwell, has said his client insists he is innocent and that Nissan insiders and outside experts had advised him that their financial reporting was proper.
The maximum penalty for violating Japan's financial laws is 10 years in prison, a 10 million yen ($89,000) fine, or both. The conviction rate in Japan is over 99 percent.
Nissan has said an internal investigation found three types of misconduct: underreporting income to financial authorities, using investment funds for personal gain and illicit use of company expenses.
Nissan, as a legal entity, was also charged Monday. Nissan is not under supervision or being monitored, although it is cooperating with the prosecutors' investigation, according to company spokesman Nicholas Maxfield. Nissan said in a statement that it takes the indictment "extremely seriously." It promised to strengthen its governance.
Helsinki, Dec 10 (AP/UNB) — A Swedish think tank said Monday that Russia has emerged as the world's second-largest arms producer after the United States. Russia surpassed Britain, which had held that spot since 2002 and remains Western Europe's No. 1 arms maker.
The Stockholm International Peace Research Institute said in its annual report on the world's 100 biggest armaments groups that the combined arms sales of Russian companies amounted to $37.7 billion in 2017, an 8.5 percent rise from a year earlier. Russia's sales accounted for 9.5 percent of a worldwide total of $398.2 billion.
The report includes both domestic and foreign sales around the globe, but doesn't include Chinese companies because of unreliable statistics, the institute said.
Siemon Wezeman, a senior researcher at the institute, said Russian producers of arms and weapon systems have been on a significant growth path since 2011.
"This is in line with Russia's increased spending on arms procurement to modernize its armed forces," Wezeman said.
For the first time in the report's history, a Russian company — the Moscow-based and state-owned Almaz-Antey that makes advanced air defense systems among other things — was listed among the world's top 10 weapons companies.
The report noted Russia started an initiative to consolidate its arms industry in 2007, a process that is expected to be completed soon.
Overall, the U.S. continued to dominate the list with 42 companies accounting for 57 percent of total sales, including the world's largest arms producer, Lockheed Martin Corp.
As a notable development, the report highlighted a 24 percent rise in sales by Turkish arms companies in 2017 from the preceding year. That reflected "Turkey's ambitions to develop its arms industry to fulfill its growing demand for weapons and become less dependent on foreign suppliers," senior researcher Pieter Wezeman said.
Dhaka, Dec 9 (UNB) - Local handset brand ‘Walton’ has launched its new smartphone Primo EF8 which will be the most affordable full-view display 4G handset.
The regular price of the smartphone is Tk 4,999. However, Walton provides Tk 300 cashback on the ‘Made in Bangladesh’ smartphone which means customers will get it at Tk 4,699 only, said a press release on Sunday.
The 4G network-supported dual SIM smartphone comes in three attractive colours of Marine Blue, Black and Golden and is available at all Walton Plaza, brand and retail outlets across the country.
It sports a 4.95-inch display with 18:9 aspect ratio and bears BSI 5MP cameras on both sides with LED flashes and a set of attractive camera features, including Face detection, Face beauty, Digital zoom, Self-timer, Time lapse, Slow motion, Night mode, HDR and Panorama.
Powered by a 1.40 GHz Quad Core processor, 1GB DDR3 RAM and Mali-T820 as GPU, the handset features 8GB internal storage that is expandable up to 32 GB via SD card.
The phone runs on Android Oreo 8.1 (Go Edition) and features a 2050 mAh li-ion battery for sufficient power backup.
Asifur Rahman Khan, Chief of Walton Cellular Phone Sales Department, said the handset has been manufactured at their own plant in Chandra of Gazipur.