United News of Bangladesh

An 11-member delegation from  the International Chamber of Commerce, Bangladesh (ICCB), led by its President Mahbubur Rahman, left here for Melbourne, Australia on Sunday to participate in the ICC’s 14th World Chambers Congress (WCC), scheduled for September 2-4. Tanvir Ahmed, managing director of Green Textile, has been invited as a speaker, spotlighting Bangladesh’s increasing presence on the global business stage. Following the WCC, the delegation will continue its international outreach with visits to ICC New Zealand and the Auckland Chamber of Commerce, where high-level discussions on enhancing bilateral trade and investment between Bangladesh and New Zealand are planned. Other delegation members are AK Azad, Vice President, ICC Bangladesh; Anwar-Ul-Alam Chowdhury (Parvez), Managing Director, Evince Group; Kutubuddin Ahmed, Chairman, Envoy Textiles; Mohd. Arshad Ali, Managing Director, The Merchants Limited; Mohammed Abdul Jabbar, Managing Director, DBL Group; Engr Syed Ishtiaq Ahmed, Managing Director, Saiham Cotton Mills Limited; Matiur Rahman, Chairman & Managing Director, Uttara Group of Companies; Simeen Rahman, CEO, Transcom Group; Tanvir Ahmed, Managing Director, Green Textile Limited and Ataur Rahman, Secretary General, ICC Bangladesh. The delegation is expected to return to Dhaka on September 10, said a media release on Sunday. The premier global forum, organised by the ICC World Chambers Federation (WCF), in partnership with the Victorian Chamber of Commerce and Industry (VCCI), brings together over 1,000 business, chamber and political leaders from more than 100 countries. The event, held biennially, offers an unparalleled platform for exchanging best practices, sharing market insights, fostering cross-border networks, and introducing innovations that shape today’s business landscape. The theme of the congress is ‘Business, Chambers, Government: Partners for Prosperity’, underscoring the collaborative potential among businesses, chambers of commerce and governments to drive sustained economic growth and opportunity. The key focus areas of the Congress are addressing geopolitical shifts, clean energy transitions, digital leadership, life sciences, workforce evolution and resilience in global trade.

Nippon Sanso Holdings Corporation announced it will standardize its industrial gas business under the unified global brand “NIPPON SANSO,” introducing a single logo across all regions in stages. The group, one of the world’s largest suppliers of industrial, electronic and medical gases, said the move aims to strengthen recognition as a cohesive global entity, boost corporate value and support sustainable growth. The rebranding does not affect the Thermos Group, which operates consumer household goods under the THERMOS brand. During the transition, both new and old logos may appear simultaneously. Mexico halts postal shipments to US amid tariff uncertainty Founded in 1910, Nippon Sanso operates in over 30 countries across Japan, the U.S., Europe and Asia-Oceania, employing more than 19,000 people. Its consumer arm supplies Thermos products to 120 countries. The company also cautioned investors that its common stock is listed only on the Tokyo Stock Exchange. It does not support or participate in any unsponsored American Depository Receipt (ADR) programs and disclaims responsibility for related trading activities. Source: Agency 

Mexico’s postal service has suspended package deliveries to the United States as Washington prepares to end a long-standing exemption on low-value imports, the government announced Wednesday. The move comes as the Trump administration phases out the “de minimis” exemption, which allows packages worth under $800 to enter the U.S. duty free. The exemption, set to expire Friday, covered 1.36 billion shipments worth $64.6 billion in 2024, according to U.S. Customs and Border Protection. Correos de Mexico said it would halt shipments starting Wednesday, joining postal operators in the European Union, Australia and Japan that have also paused services while awaiting clarity on the new import duties. “Mexico continues its dialogue with U.S. authorities and international postal organizations to establish mechanisms for the orderly resumption of services, providing certainty to users and avoiding setbacks in deliveries,” the government said in a statement. European postal operators halt shipments to US over new tariff rules The suspension has already affected individuals. At a Mexico City post office, Yunnueth Hernández said she had hoped to show her children how letters were once sent but was told U.S. shipments had been canceled. Outside, another woman wept after being unable to send a letter and photos to her boyfriend. The measure comes as Mexico continues talks with U.S. President Donald Trump to prevent wider tariffs, offering greater cooperation on security and extraditions of cartel leaders. Source: Agency 

India is preparing for a severe blow to its exports as steep U.S. tariffs on Indian goods came into force Wednesday, threatening more than half of the country’s shipments to its largest overseas market. President Donald Trump had initially announced a 25% duty, but earlier this month signed an executive order imposing an additional 25% penalty over India’s purchase of Russian oil. The combined 50% tariff now applies to a wide range of Indian products. According to government estimates, $48.2 billion worth of exports will be affected, with officials warning the new duties could make sales to the U.S. unviable, leading to job losses and slower growth. Labor-intensive sectors such as textiles, gems and jewelry, leather goods, food and automobiles are expected to be hardest hit, according to the Global Trade Research Initiative. “The new tariff regime is a strategic shock that threatens to wipe out India’s long-established presence in the U.S.,” said its founder Ajay Srivastava. Exporters fear small and medium enterprises will suffer most. “This is an absolute shock,” said Puran Dawar, a footwear exporter in Agra. “The U.S. should understand that these steep tariffs will hurt its own consumers.” Asian shares mostly higher as Wall Street ends mixed Prime Minister Narendra Modi has vowed not to yield to U.S. pressure to open India’s agriculture and dairy markets. “For me, the interests of farmers, small businesses and dairy are topmost,” he said this week. India is now weighing tax cuts, export incentives and new trade deals to cushion the impact. Source: Agency 

President Donald Trump said late Monday that he is firing Federal Reserve Governor Lisa Cook, in what is seen as a sharp escalation of his efforts to exert greater control over the U.S. central bank. In a letter posted on his Truth Social platform, Trump cited allegations of mortgage fraud — raised last week by Bill Pulte, a Trump appointee to the Federal Housing Administration — as the reason for dismissing Cook. She has previously said she would not step down. The move follows Trump’s repeated clashes with Fed Chair Jerome Powell, whom he has accused of mismanaging the institution and resisting his demands to cut interest rates. Powell has insisted the central bank must assess the impact of Trump’s sweeping tariffs on imports, which could push inflation higher. The episode has renewed debate over the independence of the Federal Reserve, a principle widely supported by economists and investors. The Fed, by raising or lowering interest rates, wields enormous influence over growth, inflation, and jobs. Economists argue that central banks function best when insulated from political pressure, allowing them to take unpopular but necessary steps to contain inflation. Read: US erconomy remains stable, but Federal Reserve faces uncertainty That independence was cemented after the painful lessons of the 1970s, when former Fed Chair Arthur Burns bowed to pressure from President Richard Nixon to keep rates low before the 1972 election — a move many blame for runaway inflation. His successor, Paul Volcker, appointed in 1979, raised rates to nearly 20%, triggering a deep recession but ultimately breaking the back of inflation. Markets are watching Trump’s actions closely. Any attempt to remove Powell could rattle Wall Street, push bond yields higher, and drive up borrowing costs across mortgages, auto loans, and credit cards. Still, the Fed is not entirely beyond political influence. Presidents appoint board members, subject to Senate approval, and can gradually reshape policy direction. Congress, meanwhile, sets the central bank’s mandate, which since 1977 has required the Fed to pursue both stable prices and maximum employment. Whether a president can fire a Fed chair mid-term remains legally murky. The Supreme Court has suggested it can only be done “for cause,” typically meaning misconduct or negligence. Any attempt to remove Powell on policy grounds could trigger a legal showdown. Source: Agency 

Cognite, a global leader in industrial artificial intelligence, has announced the incorporation of a new entity in Abu Dhabi as part of its expansion strategy to support the region’s growing demand for digitalization in energy and manufacturing. The move aims to accelerate the adoption of industrial AI across the Middle East, aligning with the UAE government’s ambition to establish itself as a global leader in AI. The Abu Dhabi office will serve as a regional hub, offering local expertise, technology, and customer support. “Cognite’s AI solutions are a game-changer for industry,” said Bernard Looney, board member of Abu Dhabi-based energy investment firm XRG. “They form the foundation for any AI application, enabling improvements in safety, emissions, and performance. I am delighted with Cognite’s new presence in the UAE — a country at the forefront of global AI leadership.” Cognite’s solutions center on AI agents powered by Cognite Data Fusion®, a platform that prepares industrial data for secure AI use. Integrated with Cognite Atlas AI™, these tools allow organizations to deploy and scale AI-driven workflows efficiently. “The UAE is leading the world in ambition and action around industrial AI,” said Cognite CEO Girish Rishi. “Our new entity will bring us closer to customers so we can co-innovate and deliver value with local talent.” Read more: European postal operators halt shipments to US over new tariff rules Cognite will further showcase its AI capabilities at its upcoming global conference, Impact 2025. About CogniteCognite partners with leading energy, manufacturing, and renewable companies to deliver secure, real-time data solutions that improve safety, sustainability, and profitability. Its scalable platform enables decision-makers at all levels to harness complex industrial data for smarter operations. Source: Agency 

Several European postal services have suspended shipments of packages to the United States after Washington ended a long-standing tariff exemption for low-value imports, creating widespread uncertainty over new customs procedures. The “de minimis” exemption — which allowed packages worth less than $800 to enter the U.S. duty-free — expired Friday. According to U.S. Customs and Border Protection, 1.36 billion packages worth $64.6 billion were shipped under the scheme in 2024 alone. With the exemption gone, packages from Europe under $800 will now face tariffs, following a trade framework agreed between Washington and the European Union that imposed a 15% duty on most EU exports. Postal authorities in Germany, Denmark, Sweden and Italy said they have already suspended shipments to the U.S., while France and Austria will follow on Monday. The U.K.’s Royal Mail will halt deliveries on Tuesday, noting that items valued above $100 — including gifts — will now incur a 10% tariff. DHL, Europe’s largest shipping provider, said from Saturday it would stop accepting parcels from business customers bound for the U.S., citing unresolved issues over who will collect duties, what data must be provided, and how information will be transmitted to U.S. customs. EU leaders to discuss tougher Russia sanctions, US Tariffs and Middle East tensions Poste Italiane confirmed Friday that it has suspended all merchandise shipments to the U.S. effective Aug. 23, while allowing mail without goods. Nordic carrier PostNord and the Netherlands’ PostNL announced similar steps, saying they cannot ensure compliance without clearer U.S. guidance. French operator La Poste accused U.S. authorities of failing to provide sufficient time or technical details to adapt to the new system. PostEurop, which represents 51 European postal operators, warned that all its members may suspend shipments if a solution is not reached by Aug. 29. The duty-free exemption for Chinese-origin goods was already scrapped in May as part of the Trump administration’s trade measures. That restriction has now been extended globally, affecting parcels from Europe and beyond. Source: Agency 

China has unveiled what it says will become the world’s largest solar power project, a sprawling facility on the Tibetan plateau covering 610 square kilometers — an area roughly the size of Chicago. The project highlights China’s rapid expansion in renewable energy. A new study released Thursday found the country’s carbon emissions dropped 1% in the first half of 2025 compared to a year earlier, continuing a trend that began in March 2024. Analysts say this suggests emissions may have peaked years ahead of Beijing’s 2030 target. Lauri Myllyvirta of the Centre for Research on Energy and Clean Air said China must now accelerate reductions, averaging 3% annually to meet its pledge of carbon neutrality by 2060. “China needs to get to that 3% territory as soon as possible,” he said. Unlike previous declines tied to economic slowdowns, this fall in emissions comes even as electricity demand rose 3.7%. Solar, wind, and nuclear energy outpaced growth in demand, with China adding 212 gigawatts of solar capacity in just six months — more than the U.S.’s entire total. Li Shuo of the Asia Society Policy Institute called the development “a moment of global significance,” showing that emissions can fall even as the economy grows. Still, he warned coal dependency remains a major obstacle. China achieves major progress in building world's highest solar observatory On the plateau, millions of solar panels are already producing electricity while supporting grazing land for “photovoltaic sheep.” Once complete, the farm will power 5 million households. Challenges remain, especially moving electricity from western deserts to eastern industrial hubs. Massive transmission lines are being built, but experts say China’s coal-oriented grid must be restructured to handle variable renewable energy. Source: Agency 

Asian markets were broadly higher on Thursday following a mixed finish on Wall Street, where major stocks such as Nvidia and Palantir trimmed earlier steep losses. Investors are closely watching the Federal Reserve’s Jackson Hole symposium in Wyoming for signals on U.S. monetary policy. Fed Chair Jerome Powell is scheduled to speak on Friday. While the Fed has held interest rates steady this year amid concerns over inflation from President Donald Trump’s tariffs, a weaker-than-expected U.S. jobs report is drawing attention. Minutes from the Fed’s July 29-30 meeting, released Wednesday, showed officials remain more concerned about inflation than potential job losses. In Asia, Tokyo’s Nikkei 225 fell 0.6% to 42,636.74 as Japan’s factory activity remained in contraction for a second month. Hong Kong’s Hang Seng slipped 0.1% to 25,135.09, while Shanghai rose 0.4% to 3,779.52. South Korea’s Kospi and Australia’s S&P ASX 200 both gained 1%, Taiwan’s TAIEX climbed 1.2%, and India’s Sensex added 0.1%. Taiwan Expo USA 2025 concludes in Dallas, highlights innovation and U.S.–Taiwan ties On Wall Street, the S&P 500 dipped 0.2% to 6,395.78, the Dow Jones edged up less than 0.1% to 44,938.31, and the Nasdaq fell 0.7% to 21,172.86. Nvidia, which drives much of the AI market, pared an early 3.9% loss to finish down 0.1%, while Palantir added to previous declines amid skepticism over returns from generative AI investments and concerns over inflated valuations. In commodities, U.S. crude rose 30 cents to $63.01 per barrel, Brent added 26 cents to $67.10. The dollar strengthened to 147.37 yen, while the euro slipped to $1.1648. Source: Agency 

Taiwan Expo USA 2025 wrapped up its second edition in Dallas with record success, drawing more than 10,000 visitors, including policymakers, industry leaders, and the public, over three days at the Kay Bailey Hutchison Convention Center. Organized by Taiwan’s Ministry of Economic Affairs (MOEA), International Trade Administration (TITA), and Taiwan External Trade Development Council (TAITRA), the Expo showcased innovation, culture, and economic partnership under the theme “Shared Vision, Stronger Partnership.” The opening ceremony, led by TAITRA Chairman James C. F. Huang, featured U.S. and Taiwanese dignitaries, including Ingrid Larson of the American Institute in Taiwan, Ashok Pinto of the U.S. Commerce Department, Taiwan’s Ambassador Alexander Tah-Ray Yui, and Texas Secretary of State Jane Nelson. It also included the launch of the Taiwan Trade and Investment Service Center in Dallas. One of the signature sessions, the Taiwan–U.S. Supply Chain Cooperation Forum, brought together CEOs and policymakers to discuss AI, smart manufacturing, and semiconductor cooperation. Leaders from Foxconn, Phison, GlobalWafers, and the US–Taiwan Business Council stressed joint investment and industrial resilience, spotlighting Texas as a hub for semiconductor capacity and U.S. exports. Canada forces Air Canada flight attendants back to work after strike grounds 100,000 travelers For the first time, “U.S. Business Day” connected 30 Taiwanese importers with 50 American companies through 140 one-on-one meetings, fostering opportunities in raw materials, advanced equipment, and technology. The Expo featured over 100 Taiwanese brands across sectors including advanced manufacturing, intelligent technology, smart healthcare, and consumer excellence. Cultural highlights included traditional tea presentations, performances, and forums on healthcare innovation. With Dallas now hosting a Taiwan Trade and Investment Service Center, officials said the Expo reinforced Taiwan’s commitment to deepening U.S. ties through innovation, trade, and cultural exchange. Source: Agency