United News of Bangladesh

Order a Coke to wash down some hummus in the Israeli-occupied West Bank these days and chances are the waiter will shake his head disapprovingly — or worse, mutter “shame, shame” in Arabic — before suggesting the popular local alternative: a can of Chat Cola. Chat Cola — its red tin and sweeping white script bearing remarkable resemblance to the iconic American soft drink's logo — has seen its products explode in popularity across the occupied West Bank in the past year as Palestinian consumers, angry at America’s steadfast support for Israel in its war against Hamas in Gaza, protest with their pocketbooks. “No one wants to be caught drinking Coke,” said Mad Asaad, 21, a worker at the bakery-cafe chain Croissant House in the West Bank city of Ramallah, which stopped selling Coke after the war erupted. “Everyone drinks Chat now. It’s sending a message.” Since Hamas' Oct. 7, 2023, attack triggered Israel's devastating military campaign in the Gaza Strip, the Palestinian-led boycott movement against companies perceived as supportive of Israel gained momentum across the Middle East, where the usual American corporate targets like McDonald’s, KFC and Starbucks saw sales slide last year. Here in the West Bank, the boycott has shuttered two KFC branches in Ramallah. But the most noticeable expression of consumer outrage has been the sudden ubiquity of Chat Cola as shopkeepers relegate Coke cans to the bottom shelf — or pull them altogether. “When people started to boycott, they became aware that Chat existed,” Fahed Arar, general manager of Chat Cola, told The Associated Press from the giant red-painted factory, nestled in the hilly West Bank town of Salfit. “I'm proud to have created a product that matches that of a global company." With the “buy local” movement burgeoning during the war, Chat Cola said its sales in the West Bank surged more than 40% last year, compared to 2023. Warren Buffett offers lessons on investing in his annual Berkshire Hathaway letter While the companies said they had no available statistics on their command of the local market due to the difficulties of data collection in wartime, anecdotal evidence suggests Chat Cola is clawing at some of Coca-Cola’s market share. “Chat used to be a specialty product, but from what we’ve seen, it dominates the market,” said Abdulqader Azeez Hassan, 25, the owner of a supermarket in Salfit that boasts fridges full of the fizzy drinks. But workers at Coca-Cola's franchise in the West Bank, the National Beverage Company, are all Palestinian, and a boycott affects them, too, said its general manager, Imad Hindi. He declined to elaborate on the business impact of the boycott, suggesting it can't be untangled from the effects of the West Bank's economic free-fall and intensified Israeli security controls that have multiplied shipping times and costs for Palestinian companies during the war. The Coca-Cola Company did not respond to a request for comment. Whether or not the movement brings lasting consequences, it does reflect an upsurge of political consciousness, said Salah Hussein, head of the Ramallah Chamber of Commerce. “It's the first time we've ever seen a boycott to this extent,” Hussein said, noting how institutions like the prominent Birzeit University near Ramallah canceled their Coke orders. “After Oct. 7, everything changed. And after Trump, everything will continue to change.” President Donald Trump’s call for the mass expulsion of Palestinians from Gaza, which he rephrased last week as a recommendation, has further inflamed anti-American sentiment around the region. With orders pouring in not only from Lebanon and Yemen but also the United States and Europe, the company has its sights set on the international market, said PR manager Ahmad Hammad. Hired to help Chat Cola cash in on combustible emotions created by the war, Hammad has rebranded what began in 2019 as a niche mom-and-pop operation. “We had to take advantage of the opportunity,” he said of the company's new “Palestinian taste” logo and national flag-hued merchandise. In its scramble to satisfy demand, Chat Cola is opening a second production site in neighboring Jordan. It rolled out new candy-colored flavors, like blueberry, strawberry and green apple. At the steamy plant in Salfit, recent college graduates in lab coats said that they took pains to produce a carbonated beverage that could sell on its taste, not just a customer’s sense of solidarity with the Palestinians. Afghan central bank puts on auction $20m to stabilise local currency “Quality has been a problem with local Palestinian products before,” said Hanna al-Ahmad, 32, the head of quality control for Chat Cola, shouting to be heard over the whir of machines squirting caramel-colored elixir into scores of small cans that then whizzed down assembly lines. “If it’s not good quality, the boycott won’t stick." Chat Cola worked with chemists in France to produce the flavor, which is almost indistinguishable from Coke’s — just like its packaging. That's the case for several flavors: Squint at Chat's lemon-lime soda and you might mistake it for a can of Sprite. In 2020, the Ramallah-based National Beverage Company sued Chat Cola for copyright infringement in Palestinian court, contending that Chat had imitated Coke's designs for multiple drinks. The court ultimately sided with Chat Cola, determining there were enough subtle differences in the can designs that it didn't violate copyright law. In the Salfit warehouse, drivers loaded “family size” packages of soda into trucks bound not only for the West Bank but also for Tel Aviv, Haifa and other cities in Israel. Staffers said that Chat soda sales in Israel's predominantly Arab cities jumped 25% last year. To broaden its appeal in Israel, Chat Cola secured kosher certification after a Jewish rabbi's thorough inspection of the facility. Still, critics of the Palestinians-led Boycott, Divestment and Sanctions movement, or BDS, say that its main objective — to isolate Israel economically for its occupation of Palestinian lands — only exacerbates the conflict. “BDS and similar actions drive communities apart, they don’t help to bring people together,” said Vlad Khaykin, the executive vice president of social impact and partnerships in North America for the Simon Wiesenthal Center, a Jewish human rights organization. “The kind of rhetoric being embraced by the BDS movement to justify the boycott of Israel is really quite dangerous.” While Chat Cola goes out of its way to avoid buying from Israel — sourcing ingredients and materials from France, Italy and Kuwait — it can't avoid the circumstances of Israeli occupation, in which Israel dominates the Palestinian economy, controls borders, imports and more. Deliveries of raw materials to Chat Cola’s West Bank factory get hit with a 35% import tax — half of which Israel collects on behalf of the Palestinians. The general manager, Arar, said his company's success depends far more on Israeli bureaucratic goodwill than nationalist fervor. For nearly a month last fall, Israeli authorities detained Chat's aluminum shipments from Jordan at the Allenby Bridge Crossing, forcing part of the factory to shut down and costing the company tens of thousands of dollars. Ukrainians rally around their president after Trump seeks to denigrate him Among the local buyers left in the lurch was Croissant House in Ramallah, where, on a recent afternoon, at least one thirsty customer, confronting a nearly empty refrigerator, slipped to the supermarket next-door for a can of Coke. “It's very frustrating,” said Asaad, the worker. “We want to be self-sufficient. But we're not.”

Billionaire Warren Buffett is viewed as one of the world's greatest investors, so his annual letters to Berkshire Hathaway shareholders are always read closely for lessons. Buffett no longer ventures much into politics or current events in his letters, so he won't offend anyone who might take it out on his many companies that include well-known ones like Geico insurance, Dairy Queen and Helzberg jewelry. But Buffett's latest letter released Saturday does offer insights into investing and some lessons from his six decades at the helm of Berkshire. Here's a sample: On what the U.S. government should do: “Thank you, Uncle Sam. Someday your nieces and nephews at Berkshire hope to send you even larger payments than we did in 2024. Spend it wisely. Take care of the many who, for no fault of their own, get the short straws in life. They deserve better. And never forget that we need you to maintain a stable currency and that result requires both wisdom and vigilance on your part." On the future of Berkshire's well-read annual report: “At 94, it won’t be long before Greg Abel replaces me as CEO and will be writing the annual letters. Greg shares the Berkshire creed that a “report” is what a Berkshire CEO annually owes to owners. And he also understands that if you start fooling your shareholders, you will soon believe your own baloney and be fooling yourself as well.” On making mistakes over the years: "Of course, I expect to make my share of mistakes about the businesses Berkshire buys and sometimes err in evaluating the sort of person with whom I’m dealing. "But I’ve also had many pleasant surprises in both the potential of the business as well as the ability and fidelity of the manager. And our experience is that a single winning decision can make a breathtaking difference over time. (Think GEICO as a business decision, Ajit Jain as a managerial decision and my luck in finding Charlie Munger as a one-of-a-kind partner, personal advisor and steadfast friend.) Afghan central bank puts on auction $20m to stabilise local currency “Mistakes fade away; winners can forever blossom.” On what Buffett relies on to profit: “Businesses, as well as individuals with desired talents, however, will usually find a way to cope with monetary instability as long as their goods or services are desired by the country’s citizenry. So, too, with personal skills. Lacking such assets as athletic excellence, a wonderful voice, medical or legal skills or, for that matter, any special talents, I have had to rely on equities throughout my life. In effect, I have depended on the success of American businesses and I will continue to do so.” On Berkshire's investments in acquiring entire companies vs. investing in stocks: "Understandably, really outstanding businesses are very seldom offered in their entirety, but small fractions of these gems can be purchased Monday through Friday on Wall Street and, very occasionally, they sell at bargain prices. “We are impartial in our choice of equity vehicles, investing in either variety based upon where we can best deploy your (and my family’s) savings. Often, nothing looks compelling; very infrequently we find ourselves knee-deep in opportunities. Greg has vividly shown his ability to act at such times.” On America's prosperity: "Our country’s progress over its mere 235 years of existence could not have been imagined by even the most optimistic colonists in 1789, when the Constitution was adopted and the country's energies were unleashed. "True, our country in its infancy sometimes borrowed abroad to supplement our own savings. But, concurrently, we needed many Americans to consistently save and then needed those savers or other Americans to wisely deploy the capital thus made available. If America had consumed all that it produced, the country would have been spinning its wheels. "The American process has not always been pretty – our country has forever had many scoundrels and promoters who seek to take advantage of those who mistakenly trust them with their savings. But even with such malfeasance – which remains in full force today – and also much deployment of capital that eventually floundered because of brutal competition or disruptive innovation, the savings of Americans has delivered a quantity and quality of output beyond the dreams of any colonist. Walmart thrived in 2024 but challenges loom in 2025 “From a base of only four million people – and despite a brutal internal war early on, pitting one American against another — America changed the world in the blink of a celestial eye.” On Berkshire's massive $334.2 billion cash pile: "Despite what some commentators currently view as an extraordinary cash position at Berkshire, the great majority of your money remains in equities. That preference won’t change. "While our ownership in marketable equities moved downward last year from $354 billion to $272 billion, the value of our non-quoted controlled equities increased somewhat and remains far greater than the value of the marketable portfolio. "Berkshire shareholders can rest assured that we will forever deploy a substantial majority of their money in equities – mostly American equities although many of these will have international operations of significance. Berkshire will never prefer ownership of cash-equivalent assets over the ownership of good businesses, whether controlled or only partially owned. “Paper money can see its value evaporate if fiscal folly prevails. In some countries, this reckless practice has become habitual, and, in our country’s short history, the U.S. has come close to the edge. Fixed-coupon bonds provide no protection against runaway currency.”

Afghanistan's central bank announced Saturday that it will put on auction 20 million US dollars on Sunday in a bid to maintain the stability of the national currency, the afghani. "The bidders, including moneychangers and private banks, should deposit the necessary money in cash in the form of afghani in the central bank Da Afghanistan Bank," the central bank said in a statement posted on its X account. Walmart thrived in 2024 but challenges loom in 2025 In the past month, the bank has injected millions of U.S. dollars into the nation's currency exchange market to stabilize the afghani and prevent its decline against foreign currencies. In recent weeks, the afghani has experienced a depreciation against the U.S. dollar. Currently, the exchange rate stands at about 74 afghani for one U.S. dollar, compared to about 68.50 afghani a month ago.

 Days before the third anniversary of Russia's full-scale invasion, Ukrainians are as somber and tense as they were right before Moscow launched the war. Only now, they aren’t just worried about their longtime enemy. Ukraine's stunning new threat comes from its once staunchest ally, the United States, whose support appears to be fading as President Donald Trump parrots the propaganda of Russian President Vladimir Putin while pledging to stop the fighting between the two countries. After their initial shock at Trump’s false claims this week that Ukraine is led by a “dictator” who started the war with Russia, the Ukrainian people are rallying around a defiant President Volodymyr Zelenskyy, who publicly criticized Trump for promoting Russian “disinformation.” “Yes, he’s not a perfect president, but he’s not a dictator,” said Kateryna Karaush, a 25-year-old tech worker from Kyiv who like many Ukrainians — and even some Republicans in Congress — is struggling to wrap her head around Trump's embrace of Russia, which represents a major about-face in U.S. foreign policy. “It feels like the whole world is against us," Karaush said. Against long odds, Ukrainians – with massive military support from the U.S. – have prevented Russia from overtaking their country, even if roughly one fifth of it is now under Russia control. But after three years of war, both civilians and soldiers are exhausted. Hundreds of thousands have been killed or wounded, tens of thousands are missing, and millions have fled the country. The mood only became gloomier in recent days as Trump signaled his desire to rapidly bring the fighting to a close on terms that Zelenskyy and many in the West say are too favorable to Russia. After Trump called Zelenskyy a “dictator” – for legally postponing an election last year -- and as reports emerged of U.S. and Russian officials meeting in Saudi Arabia to discuss a possible ceasefire without input from Ukraine, even some of Zelenskyy’s harshest domestic critics have begun defending him. Trump supports giving Americans part of DOGE savings as dividends “We may have different opinions about Zelenskyy, but only Ukrainian citizens have the right to judge his support,” said Yaroslav Zhelezniak, a lawmaker from the opposition party Holos. “And to publicly criticize him too, because, in the end, he is our elected leader.” Trump’s harsh words for Zelenskyy have drawn criticism from Democrats and even some Republicans in the U.S. Congress, where defending Ukraine from Russia — with tens of billions of dollars in military aid — has had bipartisan support. But Vice President JD Vance admonished Zelenskyy for publicly warning Trump about falling for Russian disinformation. On Thursday, the deepening tensions led to the cancelation of a news conference that had been planned to follow talks between Zelenskyy and Trump's Ukraine envoy over how to end the war. A poll released Wednesday by the Kyiv International Institute of Sociology put public trust in Zelenskyy at 57%. The survey was conducted Feb. 4 to Feb. 9 among 1,000 people living across Ukraine in regions and territories controlled by the Ukrainian government. “We have a president whom we support. During war, we are united,” said Larysa, a 52-year-old resident from the northeastern city of Kharkiv, who refused to give her last name due to security concerns. The political rift with the U.S. comes as Ukrainian forces, outnumbered and outgunned, increasingly struggle to hold back Russia’s slow but steady advances. Speaking from the front lines, some Ukrainian soldiers said they were not panicking yet, and not ready to give up the fight. “Even if we don’t get enough weapons or if funding is cut, that doesn’t change our duty to (fight),” said a Ukrainian officer who spoke on condition of anonymity in line with military rules. “No shells? We’ll take up rifles. No rifles? We’ll grab shovels.” On Wednesday, Trump echoed one of Putin’s frequent talking points, claiming Zelenskyy, whose term expired last year, must hold elections. But the idea has little traction within Ukraine — even among opposition politicians, who recognize Zelenskyy’s right to postpone elections during wartime. European troops, US support are part of an emerging plan for Ukraine. But it faces many hurdles “Elections are not needed right now because they should only take place when we understand the framework of (a peace) agreement with Russia,” said Volodymyr Ariev, a lawmaker from the opposition European Solidarity party. “Holding elections now would only benefit the Kremlin, further dividing Ukrainians and installing a new president who could sign a deal favorable to Moscow.” An adviser to Zelenskyy, Mykhailo Podolyak, gave an additional reason for holding off any election until there is peace: Russia might seek to interfere in an electoral process that would already face significant challenges. Millions of displaced Ukrainians living abroad would struggle to participate — not to mention the hundreds of thousands Ukrainians living in Russian-occupied territories, whose ability to vote would be virtually impossible. Around 800,000 Ukrainians are currently serving in the armed forces, making it difficult for them to cast ballots without weakening the military. And those fighting would be unable to run for office — a right guaranteed under Ukrainian law. “Holding elections before a peace agreement with security guarantees is signed would be devastating for Ukraine,” said Valerii Pekar, a professor at Kyiv-Mohyla Business School. “The U.S. and Russia are now united in promoting the idea of ‘elections first, then peace’ — which is the quickest and cheapest way to bring Ukraine down.”

Walmart experienced a strong performance throughout 2024, but potential challenges loom in 2025, reports AP. The retail giant achieved another year of solid sales and profits, with its competitive pricing continuing to attract inflation-conscious shoppers. However, uncertainties in the economic landscape suggest difficulties ahead. Texas gunman in Walmart shooting gets 90 consecutive life sentences and may still face death penalty Walmart’s 2025 earnings forecast falls short of analysts’ expectations by as much as 27 cents per share, while its quarterly outlook is up to 7 cents below Wall Street projections. The company's sales forecast is also underwhelming, possibly signalling growing obstacles as consumer spending weakens and President Donald Trump's tariffs on China and other nations pose a threat to Walmart’s low-price strategy. Despite implementing measures to mitigate some tariff risks, Walmart remains vulnerable. Groceries, which constitute about 60% of its U.S. business, are largely unaffected by international trade policies. However, Walmart's stock plunged nearly 9% before Thursday’s market opening, dragging down other major retailers, including Target, which saw a 2% decline. As one of the first major U.S. retailers to release quarterly results, Walmart’s numbers provide insight into consumer sentiment, especially in light of new trade barriers that many economists fear could drive inflation higher. Over the past year, shoppers have prioritised essential purchases over discretionary items like electronics, furniture, and appliances, exercising greater caution due to rising costs for both credit and groceries. Walmart boosts outlook after a strong first quarter and rising online sales Walmart has thrived in this environment, leveraging its scale to maintain lower prices and gain market share, particularly among households earning over $100,000. Its e-commerce expansion and Walmart+ membership programme have also drawn wealthier customers. “We have momentum driven by our low prices, a growing assortment, and an eCommerce business focused on faster delivery times,” said CEO Doug McMillon. “We’re gaining market share, our top line is healthy, and our inventory is in great shape.” Nevertheless, the company may face heightened challenges as the new tariffs present greater economic risks compared to Trump’s first term. Economists warn that if Americans experience another wave of price increases, consumer spending—accounting for 70% of the U.S. economy—could decline broadly, impacting not just Walmart’s sales but the economy at large. Recent government data showed a sharp decline in January retail sales, partly due to cold weather, though the drop was larger than expected—the biggest in a year. While December sales were revised higher, it may suggest consumers are cutting back after holiday spending. Meanwhile, grocery prices, a persistent concern for American households, have continued to rise. Walmart, headquartered in Bentonville, Arkansas, reported quarterly earnings of $5.25 billion, or 65 cents per share, for the period ending Jan. 31, compared to $5.49 billion, or 68 cents per share, a year earlier. Adjusted earnings per share stood at 66 cents. Quarterly sales grew by 4.1% to reach $180.55 billion, surpassing analysts’ forecast of $180.07 billion, according to FactSet. Comparable sales for Walmart’s U.S. division—including online and physical stores open for at least a year—rose 4.6%, slightly below the 5.3% increase in the previous quarter. The company reported a 4.2% rise in the second quarter and 3.8% in the first quarter. Global e-commerce sales climbed 16% in the latest quarter, a slowdown from the 27% growth seen in the third quarter. 'Bodies drop' as Walmart manager kills 6 in Virginia attack For the first quarter, Walmart expects earnings per share between 57 and 58 cents, well below Wall Street’s 64-cent projection. For the full year, the company anticipates earnings per share of $2.50 to $2.60, falling short of the $2.77 analysts predicted. The retailer projects a 3% to 4% rise in quarterly sales, ranging between $166.35 billion and $167.97 billion, which could disappoint analysts who expected $167.05 billion. For the year, Walmart forecasts sales growth of 3% to 4%, reaching between $667.57 billion and $674.05 billion—significantly lower than analysts’ estimate of $708.72 billion, according to FactSet.

President Donald Trump said Wednesday he is considering buying used Boeing aircraft — perhaps from an overseas seller — to use as Air Force One when he's aboard, as he fumes over the U.S. plane-maker's delays in producing two specially modified ones for presidential use. Speaking to reporters aboard one of the two nearly 35-year-old Boeing 747-200 aircraft in current use, Trump said, “We’re looking at alternatives, because it’s taking Boeing too long.” “We may go and buy a plane,” Trump said, adding that he could then “convert it.” He later clarified that he was ruling out purchasing aircraft of Airbus, the European company that is the only other global supplier on large wide-body aircraft, but would consider a second-hand Boeing plane. “I would not consider Airbus. I could buy one from another country perhaps or get one from another country." Boeing has the contract to produce updated versions, based on the more modern Boeing 747-8, but delivery has been delayed while the aircraft maker has lost billions of dollars on the deal, which was negotiated by Trump during his first term in office. It's not the planes, rather the heavy modification to make them suitable for the requirements of presidential travel and the top-level security clearances required for those involved, that has added to the cost and delays. Trump already dropped a requirement for the new generation of planes, which will be known as the VC-25B, to be capable of air-to-air refueling, like the pair of existing VC-25As, which were designed during the Cold War. Guarded optimism in India as Trump, Modi outline plans to deepen defense partnership Other modifications include highly classified communications equipment suitable for the country's commander-in-chief, survivability enhancements for a range of contingencies, and self-contained air-stairs, allowing for their use in austere landing environments. Delivery initially was set for 2024, but has been pushed to some time in 2027 for the first plane and in 2028 — Trump’s final year in office — for the second, according to the U.S. Air Force. Trump on Saturday toured a newer Boeing 747-800 airplane to check out new hardware and technology features and highlight the aircraft maker’s delay in delivering updated versions of the Air Force One presidential aircraft, the White House said Saturday. Trump visited the 13-year-old private aircraft that had been owned by the Qatari royal family while it was parked at Palm Beach International Airport. The New York Times was first to report that Trump was considering purchasing and modifying used aircraft to serve as new presidential aircraft.

Asia’s stock markets displayed mixed performances on Wednesday, with Chinese technology stocks retreating after a brief rally, reports AP. The Hang Seng Index declined by 0.27% to 22,915.70, whereas the Shanghai Composite climbed 0.81% to 3,351.54. Japan’s Nikkei 225 dipped 0.27% to 39,164.61, following U.S. President Donald Trump's warning of a 25% tariff on car imports, a move that could negatively affect Japan’s economy. UK inflation hits 10-month high Meanwhile, South Korea’s KOSPI advanced 1.7% to 2,671.52, while Australia’s S&P/ASX 200 dropped 0.73% to 8,419.20. China’s technology stocks tumbled on Wednesday following a short-lived surge earlier in the week. Alibaba’s Hong Kong-listed shares declined by 1.58%, while Baidu dropped 2.33% after reporting a 2% year-on-year revenue decrease for the fourth quarter amid intensifying artificial intelligence competition in China. Tencent, a leading video game company, saw its stock fall by 1.37%, while online services giant Meituan lost 3.24%. “Hong Kong and mainland China led the sell-off, letting some air out of the risk-on sentiment that had driven Asia’s market rebound,” noted Stephen Innes, managing partner at SPI Asset Management. “Japanese stocks also followed the downturn, with automakers Toyota and Honda hit hard after Trump issued fresh threats—this time targeting autos, semiconductors, and pharmaceuticals with potential 25% tariffs,” he added. The drop in Chinese tech shares occurred despite U.S. markets edging higher, with the S&P 500 setting a new record on Tuesday. NBR to launch AEO next week to fast track int'l businesses The benchmark for Wall Street’s performance gained 0.2%, surpassing its previous all-time closing high from last month. The Dow Jones Industrial Average rose by 10 points, or under 0.1%, while the Nasdaq composite increased by 0.1%. In energy markets, U.S. benchmark crude climbed 43 cents to $72.26 per barrel, while Brent crude, the global standard, increased by 40 cents to $76.24 per barrel. In currency trading, the U.S. dollar slipped to 151.71 Japanese yen from 152.01 yen, while the euro rose to $1.0455 from $1.0446.

Inflation in the UK climbed to a 10-month high in January, according to official data released on Wednesday, a development that is likely to temper expectations of swift interest rate cuts from the Bank of England, reports AP. The Office for National Statistics reported that inflation, as measured by the consumer prices index, increased to 3% in the year to January, up from 2.5% the previous month. NBR to launch AEO next week to fast track int'l businesses This rise, which pushed inflation further beyond the bank’s 2% target, was primarily driven by higher airfares, food costs, and private school fees following the new Labour government’s decision to introduce a sales tax. While economists had projected an increase to 2.8%, the magnitude of the surge has been unexpectedly high and is likely to raise concerns among central bank policymakers, particularly as they continue to express apprehensions about the UK's sluggish economic growth. Earlier this month, the bank reduced its main interest rate by a quarter of a percentage point to 4.50%—its third cut in six months—after slashing its 2025 growth forecast for the UK to 0.75%. If growth remains weak, it will be a significant setback for the UK’s new Labour government, which has prioritised economic expansion as a means of improving living standards and generating revenue for underfunded public services. As growth remains elusive, the party’s popularity has declined sharply since its election victory in July. The government will undoubtedly hope that the central bank provides support by further reducing interest rates, as this would lower mortgage costs and make borrowing more affordable, albeit at the expense of reduced returns for savers. DSE opens lower, CSE sees early gains Most economists expect inflation to rise further in the coming months due to increasing domestic energy bills, before beginning to decline in the latter half of the year. This should provide policymakers with scope to cut interest rates again—though possibly fewer times than previously anticipated. “A rate cut in March now seems highly unlikely, with the bank maintaining its cautious approach to easing for the time being,” said Luke Bartholomew, deputy chief economist at abrdn, formerly Aberdeen Asset Management. “However, whether the pace of rate cuts accelerates later in the year will depend on inflationary pressures returning towards 2%.”

 Yoshiko Abe is about to turn 89, but that hasn't stopped her from going to the gym every day and trying the free-of-charge makeup course at her housing complex. “It was really helpful,” she said, all smiles and glowing after putting on foundation and pink lipstick, something she hadn’t done in years. Japan is the fastest-aging society in the world, where more than a quarter of its population is 65 and older, at 36 million people. In about a decade, the ratio will be one in three. No wonder the young-at-heart, like Abe, is a growing target for Japan Inc. The market for older people is estimated to grow to more than 100 trillion yen ($650 billion) in size this year, according to a study by Mizuho Bank. And that business isn’t just about remedies for sicknesses and old folks’ homes but taps into solid consumerism. The growth of artificial intelligence and robotics also offers promise for such services and gadgetry. Australian cenbank cuts benchmark interest rate for first time since Oct 2020 Akira Shimizu, professor of business at Keio University, calls them “cool grandpas and cute grannies” who remain sensitive to trends, including the latest luxury and health products. “They think about the clothing and makeup that express their style,” he said. From luxury cruises and “oldies” rock concerts, companies are leveraging the fact that older people these days remain active, go out with friends and on dates, so they want to dress up and look good, said Shimizu. Maintaining one’s looks is good physical exercise because it takes hand agility to open cosmetics tubes and draw eyebrows nicely, and massaging the face gets one's saliva glands going, according to Miwa Hiraku, the makeover class instructor from the Japanese cosmetics company Shiseido. Shiseido Co., which started out as a pharmacy in 1872, said that makeup is not just good for your physical well-being but also your soul. The company has been holding free makeup courses for older people across the country. “Putting on makeup works as a switch to turn on your energy at the start of your day,” said Hiraku, who vows to wear makeup even at 100. “It’s not just about looking beautiful. It’s about living a long healthy life,” she said. Yoshihiko Hotta, 85, the only man in the class of about 30 people, didn't try the rouge but happily put on the hand cream and went along with all the exercise routines. Asian stocks rise as China's tech shares see gains While acknowledging he felt some effects of aging like sore legs, he declared with conviction: “I don't think age is relevant.”

Australia’s central bank on Tuesday reduced its benchmark interest rate for the first time since October 2020 as the nation’s inflation cools. The Reserve Bank of Australia reduced the cash rate by a quarter percentage point from 4.35 per cent to 4.1 per cent at its first board meeting for the year. The cut was widely anticipated after inflation rose only 0.2 per cent in the December quarter and 2.4 per cent for calendar 2024. Annual inflation peaked at 7.8 per cent two years earlier. The bank manipulates interest rates to keep inflation within a target band of between 2 per cent and 3 per cent. “Inflation has fallen substantially since the peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance,” the board said in a statement. Bank Governor Michele Bullock later advised against believing economic forecasts that several more rate cuts were expected this year. The board will next consider changing interest rates at its meeting on April 1. “Some other central banks have cut interest rates quite sharply over the past year, but we have taken a different strategy to most,” Bullock told reporters. “Our policy rate was not raised as much as many countries overseas. We judged that while inflation expectations remained anchored, we could take a bit longer to bring inflation back to the target band, but we could keep unemployment lower,” she added. Unemployment in Australia remained at near-record low levels of 4 per cent in December, up from 3.9 per cent in November. Bullock said US plans to increase tariffs on trading partners had the potential to be bad for economic activity around the world. “The tariff threats and what’s going on overseas is very uncertain and probably even worse, it’s unpredictable,” Bullock said. Asian stocks rise as China's tech shares see gains The rate shift is a welcome development for Prime Minister Anthony Albanese’s center-left Labor Party government which will seek reelection at elections due by May 17. Treasurer Jim Chalmers welcomed the independent board's decision. “This is the rate relief Australians need and deserve,” Chalmers said in a statement. “It won't solve every problem in our economy or in household budgets but it will help." Chalmers said his government had curbed inflation without the negative consequences experienced in other countries including of high unemployment, a shrinking economy and recession. Twelve of the last 13 rate increases have taken place since the government was elected for its first three-year term on May 21, 2022. The cycle began in the final days of the previous government’s tenure when the rate rose from a record low 0.1 per cent to 0.35 per cent on May 4, 2022. The high cost of living and a shortage of housing around Australia are expected to be major issues in the upcoming election campaign. The central bank had held the cash rate at 4.35 per cent since November 2023. That was the highest rate since it fell from 4.5 per cent to 4.25 per cent in December 2011.