United News of Bangladesh

The Trump administration has imposed new restrictions on flights from Mexico and is threatening to terminate a long-standing partnership between Delta Air Lines and Aeromexico, escalating a broader trade dispute rooted in aviation access and fairness. U.S. Transportation Secretary Sean Duffy announced Saturday that all Mexican passenger, cargo, and charter airlines must now submit their flight schedules to the Department of Transportation and obtain approval before operating in the U.S. The move comes in response to what Duffy described as unfair treatment of U.S. carriers by the Mexican government. At the center of the dispute is Mexico’s decision to reduce flights into Mexico City’s main Benito Juarez International Airport and force airlines to move operations to the new Felipe Angeles International Airport, located over 30 miles (48 km) away. Duffy said this violates a bilateral aviation agreement and favors Mexico’s domestic airlines. “Joe Biden and Pete Buttigieg deliberately allowed Mexico to break our bilateral aviation agreement. That ends today,” said Duffy. “Let these actions serve as a warning to any country who thinks it can take advantage of the U.S., our carriers, and our market. America First means fighting for the fundamental principle of fairness.” Mexico is the leading foreign destination for U.S. travelers, with over 40 million passengers flying there last year. Global markets climb following wall street rally on strong US economic data Delta and Aeromexico have pushed back strongly against the Transportation Department’s proposal to dissolve their joint venture, which has been in place since 2016. The airlines argue that punishing them for actions taken by the Mexican government is unjust and could jeopardize nearly two dozen routes and an estimated $800 million in shared economic benefits. Delta warned that ending the partnership would harm consumers, reduce competition, and affect U.S. jobs and tourism. Aeromexico said it is reviewing the order and plans to issue a joint response with Delta soon. While the order to terminate the partnership wouldn’t take effect until October, the two airlines are expected to continue challenging the decision. In a previous filing, they said losing the agreement could deter more than 140,000 U.S. tourists and nearly 90,000 Mexican travelers, leading to significant economic losses for both countries. Mexico’s President Claudia Sheinbaum has not yet commented on the restrictions. Source: Agency 

Global shares mostly advanced on Friday, following Wall Street’s record highs driven by upbeat U.S. economic indicators and mixed earnings from major companies. In early European trading, Germany’s DAX gained 0.4% to 24,479.86, France’s CAC 40 climbed 0.6% to 7,869.86, and the UK’s FTSE 100 edged up 0.2% to 8,987.81. Futures for the S&P 500 and Dow Jones Industrial Average each rose 0.1%. In Asia, Japan’s Nikkei 225 slipped 0.2% to 39,819.11, as investors awaited Sunday’s upper house election, which could impact the ruling coalition’s majority. Core inflation in Japan rose 3.3% in June, down from May’s 3.7%, but still above the Bank of Japan’s 2% target. Hong Kong’s Hang Seng advanced 1.2% to 24,825.66, while Shanghai’s Composite added 0.5% to 3,534.48. Taiwan’s Taiex rose 1.2%, bolstered by a 2.2% gain in Taiwan Semiconductor Manufacturing Co. (TSMC) after it reported a 61% jump in quarterly net income, driven by AI-related demand. TSMC’s U.S.-traded shares surged 3.4% Thursday. Beijing's GDP rises 5.5pc in H1 2025, surpassing 2.5 trillion yuan Australia’s ASX 200 gained 1.4% to 8,757.20, while South Korea’s Kospi dipped 0.1% and India’s Sensex declined 0.6%. “Asia’s riding the global rally wave, AI fever refuses to break, and even the Fed is making soothing noises,” wrote Stephen Innes of SPI Asset Management. “But underneath all the sunshine is a market running hot, with volatility on sale and positioning still cautious.” On Wall Street Thursday, the S&P 500 rose 0.5% to 6,297.36, the Dow added 0.5% to 44,484.49, and the Nasdaq climbed 0.7% to 20,885.65. Strong U.S. retail sales and a drop in jobless claims signaled continued economic resilience, likely keeping the Federal Reserve on hold regarding interest rate moves. Meanwhile, U.S. crude rose 84 cents to $67.07, and Brent crude gained 80 cents to $70.32. The dollar strengthened to 148.72 yen, and the euro increased to $1.1640.

PepsiCo posted better-than-expected earnings and revenue for the second quarter and expressed optimism about reviving sluggish North American sales with a range of high-protein snacks and reformulated products in the coming months. In a call with investors on Thursday, Chairman and CEO Ramon Laguarta said the company plans to roll out protein-enhanced versions of snacks such as Pop Corners and expand to high-protein versions of other best-selling items. New protein beverages are also expected later this year. “Consumers are embracing protein in their diets at a pace we haven’t seen before,” Laguarta said. “We aim to deliver accessible, scalable solutions.” PepsiCo also plans to relaunch Lay’s and Tostitos chips without artificial colors or ingredients in the U.S. later this year, following calls by U.S. health officials to eliminate synthetic additives from food products. However, Laguarta did not confirm whether PepsiCo will replace high-fructose corn syrup with real sugar in its U.S. beverages, after President Donald Trump claimed Coca-Cola had agreed to do so. “We follow the consumer,” Laguarta said, adding that PepsiCo will continue to adapt to preferences for natural ingredients. Trump says Coca-Cola to use cane sugar in US Despite overall gains, PepsiCo reported a 1% decline in North American snack sales and a 2% dip in beverage sales for the April-June period, attributed to years of price hikes and changing consumer habits. To counter perceptions of high prices, the company is expanding distribution of affordable brands like Chester’s and Santitas. Global sales rose modestly, driven by Latin America and Asia, with strong performance from low- and no-sugar Pepsi variants. PepsiCo’s revenue increased to $22.7 billion, exceeding analysts’ forecast of $22.3 billion. Adjusted earnings stood at $2.12 per share, also above expectations. However, net income fell 59% to $1.3 billion due to impairment charges on its Rockstar and Be & Cheery brands. Shares rose nearly 6% Thursday morning following the results. PepsiCo reaffirmed its lower full-year earnings outlook, citing ongoing tariff pressures and cautious consumer spending. Tariff costs have increased further after the Trump administration raised aluminum import duties to 50% in June. Source: Agency 

Bangladesh Bank arranged a special award ceremony at its headquarters in Motijheel on Thursday to formally recognize and honor officials from Sri Lanka's Pan Asia Banking Corporation PLC (PABC). The recognition was for their "exemplary vigilance, professionalism, and integrity" in preventing a US$20 million fraudulent transaction during the 2016 Bangladesh Bank reserve heist incident. The Governor of Bangladesh Bank Dr. Ahsan H. Mansur, stated that the ceremony transcended mere recognition, serving as a tribute to ethics, prudence, and human values that transcend borders. He highlighted that the decisive actions of the Sri Lankan officials not only safeguarded Bangladesh's financial interests but also bolstered global trust in the integrity of the banking system. Dr. Md. Habibur Rahman, Deputy Governor of Bangladesh Bank, welcomed the guests, expressing gratitude for their "exemplary role in preventing a financial breach that could have resulted in significant loss." He noted that the ceremony was a "long-overdue tribute to a group of individuals whose actions demonstrated the highest standards of vigilance and ethical conduct at a critical moment in global financial history." He added that their integrity not only protected monetary assets but also reinforced the values that bind the global financial community. The Inspector General of Police, Dr. Baharul Alam, thanked the Sri Lankan bankers for their due diligence and assistance provided to the Bangladeshi investigation team in Sri Lanka. Dr. Alam emphasized that the event symbolized appreciation and a reaffirmation of cross-border cooperation, financial integrity, and institutional accountability. The event also celebrated the enduring partnership between Bangladesh and Sri Lanka, underscoring shared commitments in financial regulation, cybersecurity, and regional cooperation. The ceremony included cultural showcases and multimedia presentations highlighting Bangladesh's economy, natural beauty, and contributions to peacekeeping and inclusive finance. The event concluded with a reaffirmation of bilateral cooperation between the central banks and a pledge to deepen collaboration in areas such as financial crime prevention, technology-driven oversight, and cross-border regulatory coordination. The event was attended by High Commissioner of Sri Lanka to Bangladesh. Top executives from Pan Asia Bank, including the award recipients, were also present, along with four Deputy Governors and the Head of the Bangladesh Financial Intelligence Unit, and other high officials from Bangladesh Bank, according to a press release.

Beijing's gross domestic product (GDP) grew 5.5 percent year on year to over 2.5 trillion yuan (about 350.2 billion U.S. dollars) in the first half of 2025, calculated at constant prices, the city's statistics authorities said Thursday. The primary industry achieved an added value of 4.57 billion yuan, an increase of 1.5 percent; the secondary industry grew 4.7 percent to over 335.6 billion yuan, and the tertiary industry surpassed 2.16 trillion yuan, up 5.6 percent, according to the municipal bureau of statistics. Added value of the city's industrial enterprises above designated size rose 7 percent year on year during the six-month period, edging up 0.2 percentage points from the first quarter. High-end manufacturing showed significant momentum, with surging production of lithium-ion batteries, new energy vehicles, and medical instruments and equipment. The services sector, a key stabilizer, expanded 5.6 percent. Information transmission, software and IT services output reached about 619.4 billion yuan, up 11.1 percent from the first half of last year. Financial services output was around 436.3 billion yuan, rising 8.1 percent. The surveyed urban unemployment rate on average in Beijing stood at 4.1 percent for the first half, unchanged from the first quarter, while per capita disposable income for residents reached 45,144 yuan, an increase of 4.8 percent.

Canadian retail giant Alimentation Couche-Tard has withdrawn its proposal to acquire Seven & i Holdings Co., the Japanese parent company of the 7-Eleven convenience store chain, citing prolonged delays and a lack of meaningful dialogue in the negotiation process. Couche-Tard, which operates the global Circle K chain, had shown continued interest after its initial offer was turned down last year. In a letter dated July 16 and addressed to Seven & i’s board, the Canadian firm said it had proposed a revised offer of 2,600 yen ($17.50) per share in cash earlier this year—representing a 47.6% premium over the market price. The original offer, made in 2023, was 2,200 yen ($14.86) per share. Signed by top executives, including founder Alain Bouchard, the letter accused Seven & i of stalling negotiations through "obfuscation and delay," and expressed disappointment over the lack of transparency and productive discussions. Couche-Tard, which operates nearly 17,000 stores across more than 30 countries, claimed that essential documents were withheld, key executives failed to attend meetings, and the discussions that did occur were limited to scripted briefings. In response, Seven & i acknowledged the bid withdrawal and maintained that it had engaged “constructively and in good faith.” The company reaffirmed its commitment to its independent growth strategy, including efforts to enhance the value of its North American convenience store operations. Trump plans over 10% tariffs on smaller nations Industry analysts have previously criticized Seven & i’s management for not fully capitalizing on the brand’s global potential. The company recently appointed Stephen Hayes Dacus—the first non-Japanese CEO of 7-Eleven—who aims to streamline operations and localize store offerings. Seven & i reported a profit of 49 billion yen ($330 million) in the first fiscal quarter, largely driven by asset sales at its Ito-Yokado retail unit. Quarterly sales remained stable, boosted by favorable currency exchange rates. The 7-Eleven franchise operates over 85,000 outlets worldwide, including in Japan, the U.S., and Europe, and remains a fixture of daily life in Japan.  

U.S. President Donald Trump on Tuesday said he intends to impose tariffs of over 10% on goods from smaller nations, including countries in Africa and the Caribbean. “We’ll probably set one tariff for all of them,” Trump told reporters, adding that it could be “a little over 10% tariff” on imports from at least 100 countries. Commerce Secretary Howard Lutnick clarified that the targeted nations would primarily be in Africa and the Caribbean — regions that conduct relatively modest trade with the United States. Lutnick noted that such tariffs would have limited impact on addressing the broader U.S. trade imbalances. Earlier this month, Trump began issuing formal notifications to approximately two dozen countries and the European Union, outlining the tariff rates set to take effect on August 1. These rates align closely with the ones announced on April 2, which triggered market volatility and led Trump to offer a 90-day negotiation period that ended on July 9. US manufacturing struggles persist despite subsidies and tariffs In addition, the president said he would “probably” introduce tariffs on pharmaceutical drugs by the end of the month. He added that the administration plans to begin with a lower rate, giving companies a year to establish domestic manufacturing before imposing higher import taxes. Trump indicated that computer chips would also be subjected to a similar phased tariff approach.

Tesla Inc. has officially entered the Indian market, launching its first showroom in Mumbai’s upscale Bandra-Kurla Complex on Tuesday. The outlet will serve as the EV giant’s flagship experience center, marking a long-awaited step into the world’s third-largest auto market. The move comes after years of delays due to policy disagreements. With global sales dropping and pressure mounting in its key markets—China and the U.S.—India offers Tesla a new growth frontier. The country’s electric vehicle market is still in its early stages, making up just over 2% of total car sales, but the government aims to boost that share to 30% by 2030. Tesla shares plunge 7% as Trump-Musk feud reignites, sparking investor concerns Tesla will initially sell its Model Y vehicles in India via imports, with prices starting at 6 million rupees ($70,000), significantly higher than U.S. prices. Deliveries are expected to begin in the third quarter. While Tesla's prices put it out of reach for most Indians, the brand will compete in the luxury segment alongside BMW and Mercedes-Benz. Experts say Tesla’s entry could accelerate EV innovation and bolster India’s push toward cleaner transportation. Source: Agency 

Asian markets mostly slipped in early Tuesday trading as investor anxiety grew over President Donald Trump’s latest tariff announcements. Japan’s Nikkei 225 inched up 0.1% to 39,507.28, while Australia’s S&P/ASX 200 gained 0.4% to 8,602.70. In contrast, South Korea’s Kospi dipped 0.2% and Hong Kong’s Hang Seng dropped 0.1% to 24,172.79. China's Shanghai Composite saw the sharpest fall, losing nearly 0.9% after new data showed slower economic growth in the second quarter amid escalating trade tensions. The economy grew 5.2% annually, slightly down from 5.4% in the previous quarter. While the region’s exporters remain wary of the impact of new U.S. tariffs, some investors believe Trump may soften his stance before the measures take effect on August 1, leaving room for negotiation. China’s exports rise 5.8% in June as tariff truce triggers rush of orders Wall Street was steady on Monday, with the S&P 500, Dow, and Nasdaq all posting modest gains. Meanwhile, anticipation is building ahead of Japan’s upper house election on Sunday, which could reshape the ruling coalition. Analysts warned that if all proposed tariffs are implemented, they could risk tipping the U.S. economy into recession and raise concerns about national debt levels. Still, many believe the moves are part of Trump’s negotiation tactics.

China’s exports saw a stronger-than-expected rise in June as a temporary suspension of U.S. tariffs sparked a surge in orders ahead of an August deadline, official data showed Monday. Exports rose by 5.8% year-on-year last month, up from 4.8% in May. Imports also bounced back for the first time this year, growing by 1.1%, according to data released by China’s customs authority. While shipments to the United States were down 16% in June, the decline was notably smaller than the 34.5% drop recorded in May. Following the reimposition of steep tariffs by U.S. President Donald Trump — with rates as high as 245% on Chinese imports — both Washington and Beijing agreed to pause further duties to allow for trade negotiations. That prompted American retailers and other importers, who had largely suspended shipments of consumer goods like footwear, garments, and toys, to resume purchases from China. However, trade talks have made limited progress so far, and continued uncertainty — with sudden policy shifts on both sides — has complicated long-term planning for many businesses. EU delays retaliatory tariffs on US goods, aims for deal by August 1 In the interim, the Trump administration has increased tariffs on Chinese goods by 30%, with a new August 12 deadline looming for the reinstatement of higher duties unless a breakthrough is reached. The rebound in trade is expected to support China's GDP figures for the April-June quarter, which the government is scheduled to release on Tuesday. Still, the long-term outlook remains cautious. Zichun Huang of Capital Economics warned that “tariffs are likely to remain elevated” and that Chinese exporters will face growing pressure. “Manufacturers are constrained in their ability to quickly gain global market share by slashing prices,” she said, predicting a slowdown in export growth in the coming months, which may weigh on the broader economy. Despite ongoing tensions with Washington, China’s overall global trade expanded in the first half of 2025. Total trade — combining exports and imports — exceeded 20 trillion yuan ($2.8 trillion), a record high, as Chinese firms expanded their presence in new overseas markets. China’s global trade surplus reached $586 billion in the first six months of the year. Trump announces 30% tariffs on EU and Mexico from Aug 1 Exports to Southeast Asia rose 13% year-on-year during January to June, with strong growth in shipments to Thailand (22%), Vietnam (nearly 20%), and India (over 18%). Trade with Europe also increased, rising 6.6% in the same period. However, exports of automobiles declined sharply after the European Union imposed higher tariffs on Chinese electric vehicles, falling nearly 38% year-on-year. Auto parts exports also dropped by over 23%. Source: Agency