United News of Bangladesh

Small traders, struggling with high interest rates, weak law enforcement and complex regulations amid global challenges, on Saturday called for easier VAT management and improved law and order to revive trade and investment. The small traders of Dhanmondi, Mohammadpur, Shyamoli and Adabor areas expressed these concerns during an interactive view-exchanging meeting organised by the Dhaka Chamber of Commerce & Industry (DCCI). The meeting, held at Tokyo Square Convention Centre, Mohammadpur, focused on issues such as the recent trade and investment scenario, law and order, income tax and VAT matters, high inflation, elevated interest rates, traffic congestion and related challenges. The discussion was held with DCCI President Taskeen Ahmed in the chair. In his opening remarks, the DCCI President said the current global economic conditions, compounded by domestic business challenges, the complexity of the tax and VAT system, crises in foreign exchange management, delays in export-import processes, and an overall weak law and order situation are adversely impacting the economy, particularly affecting SME entrepreneurs. "In the current circumstances, there is no alternative to building a safe, stable, and predictable business environment," he said. FBCCI and Bhutan delegation explore enhanced agricultural trade cooperation Taskeen mentioned that the Dhaka Chamber has already proposed, for the upcoming budget, the complete automation of revenue management, rationalisation of tax rates, the introduction of a single-digit VAT rate, fixing a 1% VAT for the informal sector, and the development of a VAT return app — all aimed at improving the business environment and boosting government revenue collection. He highlighted that easy access to credit, enhanced mobility through automation of export-import activities, and timely policy support from the government are crucial to maintaining the momentum of industrialisation. The DCCI President reiterated that businessmen are willing to pay taxes and VAT, but they do not want harassment. Emphasising the importance of the rule of law, he said it is vital to ensure effective enforcement to maintain active business operations at every level. Mohammad Mostafizur Rahman, Additional Director (SME and Special Programmes Department) of Bangladesh Bank, said the central bank recently issued a master circular on 17 March 2025 to increase credit flow to the SME sector. To facilitate entrepreneurs, he informed that the term loan period has been extended from 5 to 7 years, recognising that investors require at least two years to establish a factory. He also shared that under various schemes, Bangladesh Bank has created a Tk 25,000 crore fund dedicated to SME entrepreneurs, offering loans at a maximum interest rate of 7%, with an even lower rate of 5% for women entrepreneurs and reduced rates for agro-entrepreneurs. Besides, the Cash Reserve Ratio (CRR) has recently been reduced from 5.5% to 3% to increase credit flow to the private sector. Md Milon Sheikh, Additional Commissioner of Customs, Excise and VAT Commissionerate, Dhaka (West), said about 80% of the government's total revenue target has been achieved through the National Board of Revenue (NBR), describing it as a very challenging task. He noted that VAT collection growth in Mohammadpur and surrounding areas has increased by around 15–20% this year, and 98% of small businesses in the area have been brought under VAT registration within the last three months. Regarding the proposal for a mobile app to facilitate online VAT registration, he welcomed the idea, saying the government would seriously consider it as it would reduce human contact and minimise harassment. He urged SME entrepreneurs not to overlook VAT matters but rather to familiarise themselves with VAT laws for their own benefit, acknowledging that it remains a complex, mathematics-driven subject. Md Alamgir Kabir, Additional Deputy Commissioner of Police (Tejgaon Zone), Dhaka Metropolitan Police (DMP), said that the law and order situation in the area has improved considerably over the past two months, with a notable decrease in the number of criminal cases. He said on 27 March, around 63 extortionists were arrested during police block raids, and more recently, 71 miscreants were apprehended in a single day in the Mohammadpur area alone. Besides, he mentioned, around 63 patrol teams are actively working across this large area under a robust policing strategy to ensure public safety. He assured that police are ready to extend all possible support to small traders during the upcoming Eid-ul-Adha celebrations. Tania Sultana, Additional Deputy Commissioner of Police (Traffic, Tejgaon Zone), stressed the need for increasing public awareness and adherence to traffic rules to reduce congestion, emphasising that traffic jams are not created by the police.

Big Tech stocks led Wall Street to a positive finish on Friday, capping off a turbulent week marked by market swings tied to President Donald Trump’s ongoing trade war. The S&P 500 climbed 0.7%, extending a strong three-day rally and pulling within 10.1% of its all-time high from earlier in the year. Strong gains from Nvidia and other major tech names helped the Nasdaq composite outperform with a 1.3% jump. However, the upbeat performance in tech masked a more uneven day overall—more stocks in the S&P 500 declined than advanced. Meanwhile, the Dow Jones Industrial Average posted a modest gain of just 20 points, or 0.1%. Alphabet climbed 1.7% in its first trading after Google’s parent company reported late Thursday that its profit soared 50% in the beginning of 2025 from a year earlier, more than analysts expected. Alphabet is one of the biggest companies on Wall Street in terms of size, and that gives its stock’s movements extra influence on the S&P 500 and other indexes. Another market heavyweight, Nvidia, was also a major force pushing the S&P 500 index upward after the chip company rose 4.3%. They helped offset a 6.7% drop for Intel, which fell even though its results for the beginning of the year also topped expectations. The chip company said it’s seeing “elevated uncertainty across the industry” and gave a forecast for upcoming revenue and profit that fell short of analysts’ expectations. It wasn’t just Intel. Roughly three out of every five stocks in the S&P 500 sank, including Eastman Chemical, which dropped 6.2% after it gave a forecast for profit this spring that fell short of analysts’ expectations. CEO Mark Costa said that the “macroeconomic uncertainty that defined the last several years has only increased” and that future demand for its products “is unclear given the magnitude and scope of tariffs.” Asian shares soar after Wall Street rallies into a 3rd day Skechers U.S.A., the shoe and apparel company, pulled its financial forecasts for the year due to “macroeconomic uncertainty stemming from global trade policies” even though it just reported a record quarter of revenue at $2.41 billion. Its stock fell 5.3%. Companies across industries have increasingly been saying the uncertainty created by Trump’s tariffs is making it difficult to give financial forecasts for the upcoming year. Stocks bounced back from a steep slide on Monday on hopes that Trump may be softening his approach on trade and his criticism of the Federal Reserve, which had earlier shaken markets. The hope is that if Trump rolls back some of his stiff tariffs, he could avert a recession that many investors see as otherwise likely because of his trade war. But Trump’s on-again-off-again tariffs may nevertheless be pushing households and businesses to alter their spending and freeze plans for long-term investment because of how quickly conditions can change, sometimes seemingly by the hour. “Business owners scrambling to figure out their supply chains and exposure to tariffs is more than just a distraction,” according to Brian Jacobsen, chief economist at Annex Wealth Management. “It could be an existential threat, especially for smaller businesses that don’t have the scale or resources to have the same supply chain flexibility as larger firms.” All told, the S&P 500 rose 40.44 points to 5,525.21. The Dow Jones Industrial Average added 20.10 to 40,113.50, and the Nasdaq composite jumped 216.90 to 17,382.94. In stock markets abroad, indexes rose modestly across much of Europe following more mixed movements in Asia. Tokyo’s Nikkei 225 jumped 1.9%, but stocks in Shanghai slipped 0.1%. In the bond market, Treasury yields eased some more, and the yield on the 10-year Treasury fell to 4.25% from 4.32% late Thursday. It’s been generally falling since approaching 4.50% earlier this month in a surprising rise that suggested investors worldwide may have been losing faith in the U.S. bond market’s reputation as a safe place to park cash. Yields have dropped as several reports on the U.S. economy have come in weaker than expected, bolstering expectations that the Federal Reserve may cut interest rates later this year to support growth. A report on Friday morning said sentiment among U.S. consumers sank in April, though not by as much as economists expected. The survey from the University of Michigan said its measure of expectations for coming conditions has dropped 32% since January for the steepest three-month percentage decline seen since the 1990 recession. The value of the U.S. dollar meanwhile held steady against the euro and other rival currencies. It’s been recovering some of its sharp, unexpected losses from earlier this month that had rattled investors.      

Asian stock markets climbed in early trading on Friday, following a third consecutive day of gains on Wall Street, fueled by optimism that the Federal Reserve may move to cut interest rates. Japan's Nikkei 225 jumped 1.9% to reach 35,701.38, while South Korea's Kospi advanced 1% to 2,547.39. In Hong Kong, the Hang Seng Index rose 1.4% to 22,226.19. Meanwhile, China’s Shanghai Composite Index was mostly flat, hovering at 3,297.36. Investor sentiment was lifted by speculation that former President Donald Trump may be easing his stance on tariffs and taking a softer tone toward the Federal Reserve. However, Beijing pushed back on Thursday, stating that China is not currently engaged in active trade talks with the U.S. Elsewhere in the region, Taiwan’s Taiex saw a strong gain of 2.3%, while markets in Australia remained closed in observance of Anzac Day. Growth slows for South Asia, Bangladesh hit too: WB Wall Street’s rally kept rolling Thursday as better-than-expected profits for U.S. companies piled up in reports mainly from tech companies like ServiceNow and Texas Instruments, offsetting the uncertainties in the retail sector. Federal Reserve officials boosted expectations for interest rate cuts as they said that they would slash the rate as early as June if Trump’s tariffs hurt the U.S. economy and job market. The S&P 500 charged 2% higher to 5,484.77 and pulled within 11% of its record set earlier this year. The Dow Jones Industrial Average rose 1.2% to 40,093.40, while the Nasdaq composite jumped 2.7% to 17,166.04. In other moves early Friday, U.S. benchmark crude oil gained 13 cents to $62.92 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, added 22 cents to $66.77 per barrel. The U.S dollar rose to 142.96 Japanese yen from 142.69 yen. The euro edged lower, to $1.1349 from $1.1391.    

Amid mounting global economic uncertainties, South Asia's growth outlook is showing signs of strain, with Bangladesh no exception, according to the latest assessment by the World Bank. The multilateral lender has warned that the region’s economic momentum is losing steam due to a confluence of external shocks, tightening financial conditions, and domestic vulnerabilities, casting a shadow over near-term development prospects. Bessent criticises IMF, World Bank; sees ‘big deal’ opportunity with China A significant decrease in export growth and low investment have contributed to economic slowdown in Bangladesh in FY24, but growth is expected to rebound in the medium term, says the World Bank in its twice-yearly update, released on Thursday. The latest Bangladesh Development Update highlights the recent economic developments and outlook for the medium term, with a special focus on financial sector stability. After a fall in real GDP growth to 4.2 percent in FY24 from 5.8 percent in FY23, economic activity slowed further in FY25. The economy continues to face significant challenges, including investment moderation, elevated inflation and vulnerabilities within the financial sector. Meanwhile, external sector pressures have apparently eased, with robust growth in remittance inflows and exports bolstering the current account balance in FY25. Reforms in key sectors could create millions of jobs in Bangladesh: World Bank Real GDP growth is projected to further moderate to 3.3 percent in FY25 due to declining private and public investment. Political uncertainty and rising costs associated with borrowing and inputs are expected to constrain private investment growth and keep industrial growth subdued. Public investment will decline as the government reduces capital expenditure in FY25. The fiscal deficit is expected to remain under 5 percent of GDP in the medium term, with capital expenditure increasing only gradually. Inflation is likely to remain elevated in the near term. World Bank’s Vice President for South Asia Martin Raiser said multiple shocks over the past decade have left South Asian countries with limited buffers to withstand an increasingly challenging global environment. “The region needs targeted reforms to strengthen economic resilience and unlock faster growth and job creation. Now is the time to open to trade, modernize agricultural sectors, and boost private sector dynamism.” World Bank Interim Country Director for Bangladesh Gayle Martin mentioned that the country will need bold and urgent reforms to bolster the financial sector, facilitate trade and enhance domestic revenue mobilization. Real GDP is expected to rise gradually in the medium term, if backed by critical reforms. Inflation is expected to gradually subside in the medium term on the back of tight monetary policy, fiscal consolidation and easing import restrictions on key food commodities. Rising trade uncertainties are expected to put pressure on the external sector. World Bank’s Senior Economist Dhruv Sharma, who is also the co-author of the report, said the risks to the outlook are on the downside as uncertainties related to trade, persistent inflationary pressure, weak demand in Bangladesh's major export markets and intensifying financial sector vulnerabilities could weigh on growth. The Bangladesh Development Update is a companion piece to the South Asia Development Update, a twice-a-year World Bank report that examines economic developments and prospects in the South Asia region and analyses policy challenges countries are facing. The April 2025 edition, Taxing Times, projects regional growth to slow to 5.8 percent in 2025—0.4 percentage points below October projections—before ticking up to 6.1 percent in 2026. This outlook is subject to heightened risks, including from a highly uncertain global landscape, combined with domestic vulnerabilities including constrained fiscal space. It includes a special chapter analysing the state of domestic resource mobilization in the region. Despite often higher tax rates, the region's tax revenues remain below the average for emerging markets and developing economies. The report outlines how countries can address inefficiencies in tax policy and administration to increase revenues so that they can enhance resilience amid an increasingly challenging global economic environment.  

Asian shares traded mixed Thursday, as worries crept back following a Wall Street rally that came after President Donald Trump appeared to back off his criticism of the Federal Reserve and his tough talk in his trade war. Japan's benchmark Nikkei 225 added 0.6% in afternoon trading to 35,075.72. Australia's S&P/ASX 200 rose 0.8% to 7,983.00. South Korea's Kospi lost 0.3% to 2,517.83. Hong Kong's Hang Seng declined 1.2% to 21,805.29, while the Shanghai Composite fell 0.1% to 21,805.29. Calling Trump's policy announcements “headline turbulence,” Tan Jing Yi of the Asia & Oceania Treasury Department at Mizuho Bank warned that global economies could be hurt in the long run, adding, “Sentiments swing from hopes of intense relief to inflicted economic gloom.” On Wall Street, the S&P 500 climbed 1.7% and added to its big gain from Tuesday that more than made up for a steep loss on Monday. The Dow Jones Industrial Average rose 419 points, or 1.1%, and the Nasdaq composite gained 2.5%. Swiss company Roche announces $50b investment in US over next 5yrs Much of the recent market volatility is because of uncertainty about what Trump will do with his economic policies. Adding to some relief was Trump saying late Tuesday that he has “no intention” to fire the head of the Federal Reserve. Trump’s tough talk had frightened investors because the Fed is supposed to act independently, without pressure from politicians, so that it can make decisions that may be painful in the short term but are best for the long term. While a cut to interest rates by the Fed could give the economy a boost, it could also put upward pressure on inflation. Trump also said US tariffs on imports coming from China could come down “substantially” from the current 145%. “It won’t be that high, not going to be that high,” he said. Investors are hoping Trump would lower his tariffs after negotiating trade deals with other countries. Trump said this week that he would be “very nice” to the world’s second-largest economy and not play hardball with Chinese President Xi Jinping. “There is an opportunity for a big deal here,” US Treasury Secretary Scott Bessent said Wednesday.

Elon Musk, often hailed as a “Moonshot Master,” the “Edison of Our Age,” and the “Architect of the Future,” is facing a serious challenge — and this time, it’s coming from within his flagship company, Tesla. The issue? A tarnished brand image that’s proving difficult to repair. Tesla’s sales have taken a sharp downturn amid growing backlash and boycotts tied to Musk’s alignment with far-right political views. The fallout has been steep — profits have dropped by two-thirds so far this year — while competitors from China, Europe, and the U.S. are aggressively moving in to capture market share. On Tuesday, Musk tried to reassure investors during Tesla’s earnings call, announcing that he would cut back his involvement in cost-cutting efforts in Washington to just “a day or two per week,” allowing him to refocus on leading Tesla. Musk to scale back role in Doge amid Tesla profit slump The market responded positively, with Tesla shares rising 5% on Wednesday. Still, the road ahead remains uncertain, with plenty of obstacles left to navigate. Who wants a Tesla? Musk seemed to downplay the role that brand damage played in the drop in first-quarter sales on the investor call. Instead, he emphasized something more fleeting — an upgrade to Tesla’s best-selling Model Y that forced a shutdown of factories and pinched both supply and demand. While financial analysts following the company have noted that potential buyers probably held back while waiting for the upgrade, hurting results, even the most bullish among them say the brand damage is real, and more worrisome. “This is a full blown crisis,” said Wedbush Securities’ normally upbeat Dan Ives earlier this month. In a note to its clients, JP Morgan warned of “unprecedented brand damage.” Musk’s take on the protests Musk dismissed the protests against Tesla on the call as the work of people angry at his leadership of the Department of Government Efficiency because “those who are receiving the waste and fraud wish it to continue.” But the protests in Europe, thousands of miles from Washington, came after Musk supported far-right politicians there. Angry Europeans hung Musk in effigy in Milan, projected an image of him doing a straight-arm salute on a Tesla factory in Berlin and put up posters in London urging people not to buy “Swasticars” from him. Sales in Europe have gone into a free fall in the first three months of this year — down 39%. In Germany, sales plunged 62%. Another worrying sign: On Tuesday, Tesla backed off its earlier promise that sales would recover this year after dropping in 2024 for the first time a dozen years. Tesla said the global trade situation was too uncertain and declined to repeat the forecast. Here come the rivals Meanwhile, Tesla’s competition is stealing its customers. Among its fiercest rivals now is Chinese giant BYD. Earlier this year, the EV maker announced it had developed an electric battery that can charge within minutes. And Tesla’s European rivals have begun offering new models with advanced technology that is making them real Tesla alternatives just as popular opinion has turned against Musk. Tesla’s share of the EV market in the U.S. has dropped from two-thirds to less than half, according to Cox Automotive. Pinning hopes on cybercabs Another rival, Google parent Alphabet, is already ahead of Tesla in an area that Musk has promised will help remake his company: Cybercabs. One of the highlights of Tesla’s call Tuesday was Musk sticking with his previous prediction that it will l aunch driverless cabs without steering wheels and pedals in Austin, Texas, in June, and in other cities soon after. But Google’s service, called Waymo, already has logged millions of driverless cybercab trips in San Francisco, Phoenix, Los Angeles, and Austin as part of a partnership with ride-hailing leader Uber. A driverless future for Tesla owners? Musk also told analysts that this driverless capability will be available on the Tesla vehicles already on the road through software updates over the air, and put a timeline on it: “There will be millions of Teslas operating autonomously in the second half of the year.” But he has made similar promises before, only to miss his deadlines, such as in April 2019 when he vowed full automation by the end of the next year. He repeated the prediction, moving up the date, several more times, in following years. A big problem is federal investigators have not given the all-clear that Tesla vehicles can drive completely on their own safely. Among other probes, safety regulators are looking into Tesla’s so-called Full Self-Driving, which is only partial self-driving, for its tie to accidents in low-visibility conditions like when there is sun glare. On the positive side In competition with rivals in the U.S., Tesla currently has one clear advantage: It will get hurt by less by tariffs because most of its vehicles are built in the countries where they are sold, including those in its biggest market, the U.S. “Tariffs are still tough on a company where margins are still low, but we do have localized supply chains,” Musk said Tuesday. “That puts us in a strong position.” The company also reconfirmed that a cheaper version of its best-selling vehicle, the Model Y sport utility vehicle, will be ready for customers in the first half of this year. That could help boost sales. Another plus: The company had a blow out first quarter in its energy storage business. And Musk has promised to be producing 5,000 Optimus robots, another Tesla business, by the end of the year. Pricey stock Even after falling nearly 50% from its December highs, Tesla’s stock is still very richly valued based on the one yardstick that really matters in the long run: its earnings. At 110 times its expected per share earnings this year, the stock is valued more than 25 times higher than General Motors. The average stock on in the S&P 500 index trades at less than 20 times earnings. That leaves Tesla little margin for error if something goes wrong.        

Bangladesh and Bhutan are seeking to strengthen bilateral trade ties, with a particular focus on agricultural products such as fruits, vegetables and spices. Business leaders from both nations emphasised the importance of expanding mutual cooperation to unlock the trade potential between the two South Asian countries. The discussions were held at a meeting organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at its headquarters in Motijheel on Wednesday morning. The meeting brought together a visiting Bhutanese delegation and Bangladeshi business leaders to explore new avenues for collaboration. Leading the Bhutanese delegation was Dawa Dakpa, Regional Director of the Regional Agricultural Marketing and Cooperative Office (RAMCO). Also in attendance were Md Zafar Iqbal ndc, Head of FBCCI’s International Affairs Wing, and Dawa Tshering, Minister Counsellor (Commerce) at the Bhutanese Embassy in Dhaka. Gold price slashed after three consecutive hikes since Saturday: Bajus The participants highlighted the need to simplify import-export procedures to harness the full potential of the market. They also underlined the importance of improving supply chain mechanisms, developing supporting infrastructure, and increasing port capacities to facilitate more efficient trade flows. Among the Bangladeshi attendees were FBCCI’s former directors Haji Md Enayetullah and Dr Ferdousi Begum, along with AM Amirul Islam Bhuiyan, President of the Bangladesh Agro Feed Ingredients Importers and Traders Association, Md Zakir Hossain, and Sheikh Al Mamun. Stakeholders on both sides agreed that enhanced cooperation in the agricultural sector could pave the way for a mutually beneficial partnership, with emphasis on exploring untapped areas and capitalising on each country’s unique strengths and resources.

Leading automakers will be showcasing their latest designed-for-China models at the Shanghai auto show this week, struggling not to be edged aside in the world’s largest car market while watching for U.S. President Donald Trump’s next steps in his trade war. Some industry experts view this year's show in the sprawling industrial outskirts of Shanghai as a tipping point. Three decades after Beijing set out to build a world-class auto industry, local manufacturers account for about two-thirds of sales inside China, and a growing share of global exports. The exhibition opens to the public on Thursday and runs until May 2. Electrics gaining ground Encouraged by government subsidies for scrapping older cars for the latest models, Chinese drivers have embraced the switch to electrics, with sales of battery powered and hybrid vehicles jumping 40% last year. A total of 31.4 million vehicles including buses and trucks were sold last year in the world’s biggest market by sales, up 4.5% compared to a year earlier, the China Association of Automobile Manufacturers reported. Growth in sales of EVs was offset by falling sales of traditional gasoline and diesel-powered vehicles, which still accounted for just over half of new car sales. China cautions nations against trade deals with US that could harm Beijing Chinese electric vehicle maker BYD nudged past Tesla as the world’s biggest maker of EVs by sales last year, reporting revenue of over $100 billion. It recently announced an ultra fast EV charging system that it says can provide a full charge for its latest EVs within five to eight minutes, about the time needed to fill up at the pump. It plans to build more than 4,000 of the new charging stations across China. Survival of the fittest To gain access to China's potentially huge market, foreign automakers like Volkswagen, General Motors, BMW and Ford set up joint ventures with state-owned local companies beginning in the 1980s and 90s, helping them build the capacity and technology to compete on a world scale. They also created sprawling supply chains in Shanghai and other major manufacturing hubs, helping to nurture other big names in Chinese automaking, such as BYD, Geely and Great Wall Motors. Facing brutal competition at home, Chinese automakers are expanding rapidly into many world markets, winning market share with relatively affordable sedans, SUVs and pickup trucks. Shanghai’s auto show is a gathering for the “survival of the fittest,” Zhou Lijun, director and chief researcher of the industry analysis group Yiche Research Institute, said. It’s also a turning point in that local automakers have switched from a supporting role to being the real protagonists on the world stage, he said. That doesn't mean all the EV makers go it alone. BYD teamed up with Daimler, now the Mercedes-Benz Group, to launch its Denza premium brand, featured on billboards in Southeast Asian capitals like Bangkok. Tariffs and other challenges Opening markets wider to foreign competition has given car buyers a choice of more affordable, innovative vehicles. But that has been a mixed blessing for older automakers like GM, Ford, Toyota and VW that now face fiercer competition both at home and abroad. Trump doubled down on tariffs on Chinese goods, raising them to up to 145%. His recent announcement of a 90-day pause temporarily spared many other countries including Japan from 24% across-the-board tariffs. But a 10% baseline tariff and a 25% tax on imported cars, auto parts, steel and aluminum exports remains in place. Higher U.S. and European tariffs on foreign-made EVs are prompting Chinese newcomers to shift production closer to those markets as more Western consumers opt for the latest Chinese models. Not that long ago, Japanese automakers were doing the same, as they fought trade friction with the United States over their own exports. Now, Toyota, Honda and Nissan employ hundreds of thousands of U.S. workers at their U.S. factories. Xi Jinping highlights China-Cambodia role in global south, urges multilateral cooperation “The trade war between China and the United States has blocked direct exports from China to the United States, but it hasn't blocked local production there or the establishment of global production bases in Europe or elsewhere," Zhou said. But as Trump's 25% tariffs on foreign-made vehicles shows, other factors may slow that expansion. A report by the Rhodium Group shows that nearly half the world's markets are restricting imports from China, in part because of national security concerns linked to the advanced electronics in EVs and other high-tech vehicles. About 12% of the global market is relatively open, including countries like Australia and South Africa, and Russia is a major market but is nearly saturated, it says. The road ahead Chinese automakers lag behind global leaders like Toyota in conventional gasoline and diesel fueled vehicles, but they can sell EVs at roughly the same price, while also solving the problems of range and fast charging. China has become part of what geopolitical analyst Yanmei Xie described, in a commentary in the Japanese financial publication Nikkei Asia, as a “technological paradigm shift.” Automakers in China are going electric not just because of the green transition, but as a route to “technological and industrial dominance,” she wrote. EV makers in China have benefited from not having huge legacy operations that have to make the transition, Stefan Sielaff, vice president of global design for EV maker Zeekr Group, part of Geely's stable of brands. Founded in 2021, it's selling cars in more than 80 markets including in Europe. “Therefore they can immediately react to market demand, to customer demand, and can deliver very, very fast,” he said. "We have done most of these cars in two years. From 0 to 100 in two years.

United Nations Industrial Development Organization (UNIDO) Tokyo, in collaboration with Haison International, an investment advisory firm, organised a business-to-business (B2B) event at the United Nations Headquarters Hall in Tokyo on Tuesday. The event aimed to foster bilateral trade and investment between Bangladesh and Japan. The programme was also supported by the Embassy of Bangladesh in Japan and the Japan External Trade Organization (JETRO). A total of 14 Bangladeshi companies from diverse sectors—including power, engineering, construction, logistics, shipping, Special Economic Zone (SEZ) management, ICT parks, real estate & hospitality,  healthcare, machinery, automobiles and consultancy services participated in the programme. The Bangladeshi companies had met with over 80 Japanese companies to explore the potential ventures for collaboration. A key highlight of the event was a seminar titled “Doing Business in Bangladesh,” which focused on investment opportunities and the evolving business climate in the country. Ariful Hoque, Director General of the Bangladesh Investment Development Authority (BIDA), delivered a comprehensive presentation on Bangladesh’s investment landscape. Yuji Ando, JETRO Representative in Bangladesh, also spoke on the advantages and practicalities of doing business in Bangladesh from a Japanese perspective. M Siraj Uddin Miah, Principal Secretary to the Chief Advisor's Office and Mr. Syed Nasir Ershad, Economic Minister of Bangladesh to Japan, were present at the event.   The Principal Secretary said "UNIDO Tokyo has remained a consistent partner in our development journey, supporting Bangladesh through various programs and initiatives. HAISON’s annual program, ‘Investor B2B Japan,’ is one such example of this fruitful collaboration." Both dignitaries emphasised the Government of Bangladesh's strong commitment to promoting foreign investment and deepening economic ties with Japan. They highlighted the enduring friendship and growing economic partnership between the two nations. The day-long programme served as a significant platform for strengthening Bangladesh-Japan economic relations and showcased Bangladesh as a competitive destination for Japanese investments.

Swiss pharmaceuticals powerhouse Roche announced Monday it plans to invest $50 billion in the United States over the next five years, creating 12,000 jobs. The Basel-based company, whose array of products includes cancer medicines and multiple sclerosis treatment Ocrevus, said the investment would go toward high-tech research and development sites and new manufacturing facilities in places including California, Indiana, Massachusetts and Pennsylvania, reports AP. The announcement comes as US President Donald Trump has urged foreign businesses to invest more in the United States, and announced sweeping tariffs earlier this month on imports as part of hopes to reduce a large US trade deficit when it comes to sales of goods. Before the Trump administration backed off its most stringent tariff plans, products imported from Switzerland had been set to face tariffs of 31% — more than the 20% tariffs on goods from the European Union. Switzerland is not a member of the 27-country bloc but is virtually surrounded by four EU countries. Trump's sweeping “Liberation Day” tariffs on April 2 set off turmoil in world stock markets. A week later, Trump spoke by phone with Swiss President Karin Keller-Sutter in a conversation that her office said focused on tariffs. She emphasized the “important role of Swiss companies and investments in the United States.” Hours later, the US president announced the U-turn that paused the steep new tariffs on about 60 countries for 90 days, fanning speculation — which was not confirmed — in some Swiss media that her chat with Trump might have played a role in the change of course. Asian shares trade mixed amid investor worries after Wall Street tumble Roche, in its statement, said that once the new, expanded manufacturing comes on line, the company “will export more medicines from the US than it imports” — though it made no mention of tariffs. "Today’s announced investments underscore our longstanding commitment to research, development and manufacturing in the US,” said Roche CEO Thomas Schinecker in a statement. The company — like cross-town competitor Novartis — has deep ties to the US market and said it currently employs 25,000 people and operates 15 R&D centres and 13 manufacturing sites in the United States. The planned investment will add 1,000 jobs at Roche in the US and “more than 11,000 in support of new US manufacturing capabilities,” it said, which will increase its footprint in the United States to 24 sites in eight states. Roche tallied more than 60 billion Swiss francs (about $74 billion) in worldwide sales last year, and nearly 25 billion francs of sales in its key pharmaceuticals division alone came in the United States. Roche’s share price has fallen by about 18% over the past month, with most of the drop coming after the US tariff announcement on April 2.