China on Monday unveiled two shortened negative lists for foreign investment, as part of efforts to further open up the economy and promote high-quality economic development. This marks the fifth consecutive year that the world's second largest economy has revised its national negative list and pilot free trade zone (FTZ) negative list. The number of items that are off-limits for foreign investors will be cut to 31 in the 2021 version of the national negative list from 33 in the 2020 version, according to a statement jointly released by the National Development and Reform Commission (NDRC) and the Ministry of Commerce. The number of items on the pilot FTZ negative list will be reduced to 27 from 30 in the 2020 version. The two new negative lists will take effect on Jan. 1, 2022. According to the new lists, foreign ownership caps on passenger car manufacturing companies will be removed. All manufacturing sectors will be open to foreign investors in the pilot FTZs. READ: China orders lockdown of up to 13 million people in Xi’an Foreign investors' access to the service sector in pilot FTZs will also be widened. Foreign investment will be allowed in the social survey industry, but ownership by foreign investors should be no more than 33 percent and the legal representatives should have Chinese nationality. For those industries that are not included in the negative lists, foreign-invested enterprises should be given national treatment, said an official with the NDRC. China has remained steadfast in opening up wider and further facilitating foreign entry to the country over the past few years, as well as in improving its business environment. The number of sectors prohibited to foreign investors has been markedly reduced. Meanwhile, a number of major opening-up measures have been introduced in industries including finance and automobiles, creating broader room for foreign investment. READ: Harvard professor found guilty of hiding ties to China Bucking a sharp drop in global cross-border investment, China attracted 149.34 billion U.S. dollars of foreign investment in 2020, maintaining its status as the world's second biggest recipient of foreign investment.

All the members of the Bangladesh national team have tested negative for Covid-19 in New Zealand, said Khaled Mahmud, the team director touring with the Bangladesh team. As all the players are now free from the virus they will be allowed to join practice sessions outside from Tuesday. “We will start practice sessions from Tuesday at the Lincoln University Ground,” Mahmud said. “We will also get the gym facilities there. And we are now allowed to move to the team hotel and do all normal activities.” With the negative results of all the players, the doubts over this series have been wiped away. The Bangladesh Cricket Board (BCB) earlier said if any player tests positive and Cricket New Zealand extends the period of quarantine, the series might need to be rescheduled at a later date. Also read: Tigers hope for negative Covid-19 results to take to field All the Bangladesh players have been going through tight quarantine measures since the home series against Australia and New Zealand ahead of the T20 World Cup— where they also had to stay in a tight bio-bubble. After the World Cup, Bangladesh also maintained a bio-bubble against Pakistan at home. It was the third Covid-19 for the Tigers in New Zealand. All the players returned negative in the previous two tests as well. However, the spin-bowling coach Rangana Herath tested positive in the second test. He is yet to test negative and get the clearance from the New Zealand health department to join the team. Bangladesh team was supposed to maintain a three-day quarantine before benign allowed to train outside. But after Rangana tested positive, the quarantine period was extended. The first Test of the series will begin on January 1 while the second and final Test of the series will commence on January 9. This is the second series for Bangladesh in the ongoing second cycle of the World Test Championship. The Tigers has started the new cycle of the event with the two-match series against Pakistan at home that they lost 2-0. Also read: Strict quarantine puts Bangladesh’s New Zealand tour in jeopardy Bangladesh will miss the service of Shakib Al Hasan in this series along with Tamim Iqbal. While Shakib is on leave due to family reasons, Tamim is yet to be fit to play international cricket. He has been suffering from several injuries. Before this series, Bangladesh took on New Zealand in 15 Tests and lost 12 of them with the other three ending up in draws.

Small, retired and elderly depositors with banks, who depend on the interest earned on their savings for an income, are increasingly frustrated as the real interest rate on bank deposits has turned negative.The real interest rate is the nominal interest rate adjusted for inflation.In August, the average interest rate on deposits offered by banks was at an all-time low of 4.05 percent which rose slightly to 4.08 percent in September, according to Bangladesh Bank (BB). Read Savings certificates: Finance Minister defends profit lowering  According to the Bangladesh Bureau of Statistics (BBS) the average annual inflation in July was 5.36 per cent. In August, the average annual inflation was 5.54 percent and in September, the annual average inflation was 5.59 percent.When the average interest rate on deposits is lower than the rate of inflation in an economy, the real interest rate is said to be negative, since a person's income from savings is eroded by the rise in prices. It is the same principle that applies when an employee's earnings are annually incremented in line with the rate of inflation, so that his or her real income is not declining. READ: Interest rates on Agri credits, pre-shipment loans further reduced Dr. ABM Mirza Azizul Islam, former caretaker government adviser on Finance, told UNB that retired and senior citizens are facing the brunt of negative interest rates as their real income from savings has declined due to the interest rate they earn on their savings has fallen below the inflation rate.He suggests taking initiatives to curb inflation rate to give a little relief for the people who depend on the interest earned from their deposits.The government can emphasize creating effective bond markets. In developed countries, people prefer investing in the bond market instead of depositing money in banks, Mirza Azizul said. Read Saving vs. Investing Money: Know the Pros and Cons The BB fixed the interest rate on deposits and loans in single digits in April 2020. The interest rate on deposits was fixed later in July of that year at 6 percent, but in reality the banks are offering an interest rate (on deposits) below 6 percent to as low as 4 percent after deducting various charges.Former BB governor Dr. Salehuddin Ahmed said that small depositors have been suffering after the fixing of the interest rate.“The poor and middle class save a small portion of earnings as deposits at the banks, considering the interest as a safe form of earning. But when the interest rate is so low that it drops below the inflation rate, the value of their money is effectively declining. As a result, public savings habits will decline,” he added. READ: Lebanese central bank slashes interest rates amid crisisThe economists said that depositors may instead divert their savings to more risky non-banking channels - such as the stock market or bond market. As per the central bank instruction, in determining the rate of interest or profit in a particular month, one has to take into account the rate of inflation three months before of that month.The BB issued a circular in August 2021 on interest rates. It stated that the interest on term deposits cannot be lower than the three-month average inflation rate. Even then, the average interest rate on deposits offered by banks is much lower than inflation. Read Budget deficit: Savings certificates, non-bank sources to be tapped for one-third of domestic financing Although the banks have been asked to implement the directive since the circular was issued, the average interest rate on bank deposits came down to the lowest level by the end of August.The interest rate on deposits in September is to be determined on the basis of June inflation. Last June, the average annual inflation was 5.84 percent.On the other hand, the average interest rate on deposits collected by banks in September was 4.08 percent. But even five years ago, the interest rate was 7.80 percent, while inflation was still in the same range that it is now. Read Bank clients can renew savings tools, get payments against coupons Sharing his own experience, former Managing Director and CEO of Pubali Bank limited Md. Abdul Halim Chowdhury told UNB that he has been suffering the same problem after retirement.“I have no other business, after retiring last year. I kept my savings in a bank, earning only the interest on it, as a result I am suffering to maintain the same standard of living for my family as the interest rates fell ever-lower than the rate of inflation,” he mentioned.He urged the authorities to consider an alternative interest rate on deposits for retired and elderly people, above the rate of inflation, to help them maintain their living standard from the interest earned on deposits, as many of them have no other choice to earn an income. Read IDLC introduces Bangladesh's 1st MFS-based digital savings programme

Awami League MP from Barishal-1 constituency Abul Hasanat Abdullah is undergoing treatment at a hospital in Dhaka.

US oil prices turned negative for the first time in history as the demand for oil falls amid a global lockdown to tackle coronavirus pandemic.