US
Search ongoing in Alaska for missing plane with 10
A search is currently underway in western Alaska for a plane carrying 10 people that went missing Thursday afternoon while flying over Norton Sound, south of the Arctic Circle, reports AP.
The Bering Air Caravan, which was en route from Unalakleet to Nome with nine passengers and a pilot, lost contact with authorities shortly after takeoff.
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The Alaska Department of Public Safety is working to determine the aircraft’s last known coordinates.
Unalakleet is a small community of around 690 people located 150 miles (240 km) southeast of Nome and 395 miles (640 km) northwest of Anchorage.
This incident is the third significant aviation tragedy in the United States in just eight days. On January 29, a commercial jetliner collided with an Army helicopter near Washington, D.C., killing 67 people. Two days later, on January 31, a medical transportation plane crashed in Philadelphia, resulting in six deaths.
The Cessna Caravan departed Unalakleet at 2:37 p.m., and officials lost communication with the plane less than an hour later, according to David Olson, Bering Air's director of operations. The aircraft was approximately 12 miles (19 km) offshore at the time, the U.S. Coast Guard reported.
Bering Air, which operates flights to 32 villages in western Alaska, is actively gathering information and coordinating search and rescue efforts. Airplanes are often the primary mode of transportation in rural Alaska, especially during winter months.
Ground crews from the Nome Volunteer Fire Department are conducting a search along the coastline from Nome to Topkok, though weather conditions are limiting air searches. Officials have warned the public not to form their own search parties due to the dangerous weather.
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A U.S. Coast Guard aircraft is expected to search the last known location of the missing plane. The National Guard and state troopers are also assisting with the search.
The temperature in Unalakleet was about 17°F (-8.3°C) at the time of takeoff, with light snow and fog in the area.
The names of those on board the aircraft have not been released.
Nome, a historic Gold Rush town located just south of the Arctic Circle, is famous as the endpoint of the 1,000-mile (1,610 km) Iditarod Trail Sled Dog Race.
5 days ago
Want to invest more in Bangladesh’s diversified sectors: Gentry Beach
Top US businessman Gentry Beach on Thursday said his company has already acquired multiple assets in Bangladesh and wants to invest more in the country's energy, finance and a number of other sectors.
Beach, who is the CEO and founder of Highground Holdings, called on Chief Adviser Professor Muhammad Yunus and expressed his desire to invest in Bangladesh.
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"You've done a great job," Beach told the Chief Adviser, adding that the law and order situation has improved and stability has returned.
Beach, whose company has invested in Africa and plans to invest in Pakistan, said more American investment would mean a rise in labour wages. "We will make Bangladesh great again," he said.
"It is time for more investment to come to this country. We are excited to be here," Beach, who is also the chairman of Paramount USA, told Dr Yunus.
He said his company was also interested in investing in real estate, especially in low-cost social housing, aerospace and defence sectors.
Prof Yunus welcomed Beach for making an investment at "a critical time" in the country. He said the Interim Government was carrying out reforms to attract more foreign direct investment in Bangladesh.
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"The country is ready for business. The business conditions are now right. We are beginning a new chapter in our history," the Chief Adviser said.
Dr Yunus said Bangladesh needs more US investments in many sectors including gas explorations in onshore and offshore fields.
Special Envoy to Chief Adviser Lutfey Siddiqi, Bangladesh Investment Development Authorities chairman, Ashik Chowdhury, and senior secretary (SDGs Affairs Principal Coordinator), Lamiya Morshed, were also present.
1 week ago
Dollar rate for remittance soars as banks compete for overdue payments
The US dollar rate for remittances has risen again by 50 basis points, reaching Tk 122.5.
Officials from various banks said that over the past two weeks, the price of the dollar has increased by at least 50 basis points, now standing at Tk 122.5 per dollar.
After a brief period of stability in the foreign exchange market, the remittance dollar rate has surged due to mounting pressure from overdue import payments.
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Despite this, banks continue to officially display the dollar price at Tk 122, as per Bangladesh Bank’s directive.
In late December, the central bank verbally instructed banks to cap the maximum buying and selling rate for remittance dollars at Tk 122.
It also mandated that the difference between buying and selling rates must not exceed Tk 1, warning of fines for non-compliance.
Bangladesh Bank identifies reasons behind increased dollar demand
A senior official of a private bank told UNB that the remittance dollar rate had remained between Tk 121.5 and Tk 122 in line with central bank’s instructions.
However, with overdue import payments piling up, competition among banks to secure dollars has intensified, leading some banks to purchase remittance dollars at a higher price.
At a meeting on Monday (Jan 27), the central bank directed banks to expedite payments for all overdue import liabilities and back-to-back letters of credit (LCs).
This directive, issued during a meeting of the Authorised Dealers Forum, further escalated dollar demand.
Following this, the remittance dollar rate surged, rising by at least 50 basis points to reach Tk 122.5 per dollar.
1 week ago
Fakhrul holds meeting with US Chargé d'Affaires
BNP Secretary General Mirza Fakhrul Islam Alamgir met Ambassador Tracey Ann Jacobson, Chargé d'Affaires at the US Embassy in Dhaka, and discussed the country’s latest political situation and the upcoming election.
The meeting, which lasted for about an hour, began at 10 am on Thursday and took place at Jacobson’s residence.
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BNP Standing Committee Member Amir Khosru Mahmud Chowdhury and Organising Secretary Shama Obaid accompanied Fakhrul at the meeting.
Speaking to reporters afterward, Shama Obaid said they had visited the US envoy’s residence for breakfast at her invitation.
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“The new US Chargé d'Affaires is engaging with various political parties, and this meeting was part of those discussions,” she said.
During the meeting, Shama said the country’s current political situation, economic conditions, and BNP's views on the upcoming election were discussed. “The US envoy tried to understand BNP's perspective on these issues.”
1 week ago
US to view Bangladesh through commercial, geopolitical lenses: Kugelman
Stressing that US President Donald Trump’s foreign policy is going to be staunchly transactional, instead of values-based, American scholar Michael Kugelman on Wednesday said the new administration in Washington will view its relationship with Bangladesh through commercial and geopolitical perspectives.
“At least initially, we can assume the administration, when it focuses on Bangladesh, will apply two lenses - commercial and geopolitical,” said Kugelman, Director of the South Asia Institute at the Wilson Center in Washington, adding that trade would remain on the table as part of bilateral ties which have remained fairly constant, and that will likely continue.
Kugelman, America’s leading South Asia specialist, made the remarks while delivering his keynote address at a seminar on “Bangladesh-US Relations: Prognosis for the Future” at the Foreign Service Academy in Dhaka.
Cosmos Foundation, the philanthropic arm of the Cosmos Group, hosted the event as part of its “Distinguished Lecture Series,” where the keynote speaker shared his own views in three parts - where they came from with US-BD relations, where they are now, and where they might be going.
He ended by laying out what he feels to be the most unrealistic and the most realistic pathways for partnership with the second Trump administration.
Welcome remarks at the event were delivered by Cosmos Foundation Chairman Enayetullah Khan, while the session was moderated by renowned scholar-diplomat Dr Iftekhar Ahmed Chowdhury, former Adviser on Foreign Affairs to Bangladesh Caretaker Government.
President of the Bay of Bengal Institute and Adviser Emeritus of Cosmos Foundation, former Ambassador Tariq Ahmad Karim, President of Bangladesh Enterprise Institute former Ambassador Humayun Kabir, and International Relations Prof at Jahangirnagar University Shahab Enam Khan, among others, spoke on the occasion as discussants.
Sharing some words about the silver linings in place right now, Kugelman said Bangladesh is not going to be on Trump’s radar, but maybe that is a good thing for now, as the country may be well served by staying off it.
2 weeks ago
Trump's mass deportation plan could overwhelm U.S. Immigrant Detention System
President Donald Trump’s pledge to deport “millions and millions” of undocumented immigrants hinges on expanding detention facilities, but the U.S. faces significant logistical and financial challenges to achieve this goal.
Currently, Immigration and Customs Enforcement (ICE) has a budget to detain about 41,000 people, far below the estimated 11.7 million undocumented immigrants in the U.S.
The Department of Homeland Security (DHS) estimates it costs approximately $165 per day to detain one adult, with more facilities needed to hold individuals during processing and deportation arrangements.
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A DHS memo estimates that expanding capacity by 110,000 beds under the recently passed Laken Riley Act would cost $26.9 billion.
The act, named after a Georgia nursing student murdered by a Venezuelan man, mandates the detention of undocumented immigrants accused of theft or violent crimes.
Trump’s immigration strategy also includes deploying troops to halt illegal border crossings, invoking the Alien Enemies Act of 1798 to deport individuals from nations perceived as threats, and eliminating “catch and release,” a practice allowing migrants to await immigration proceedings outside of detention.
Limited Capacity
ICE relies on a network of government-run processing centers, private detention facilities, and local jails under contracts, but has no designated family detention centers, despite families making up one-third of arrivals at the southern border. Expanding detention capacity would require constructing new facilities, said John Sandweg, former acting ICE director under President Barack Obama.
The Trump administration declared a national emergency at the U.S.-Mexico border, leveraging military resources to support mass deportations and detention efforts. The Pentagon may provide air transport and additional detention space. Private companies such as GEO Group and CoreCivic are seeing rising stock prices, anticipating a detention infrastructure boom.
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Expansion Plans
The American Civil Liberties Union (ACLU) has identified potential detention facility expansions in at least eight states, including Leavenworth, Kansas, and areas near immigrant hubs like New York City and San Francisco. Detention providers are considering repurposing facilities previously used for immigrants, such as a tent complex in Carrizo Springs, Texas, and the South Texas Family Residential Center in Dilley, Texas.
According to Eunice Cho, senior staff attorney at the ACLU’s National Prison Project, the Trump administration aims to maximize detention capacity. However, she noted Congress controls funding, and military involvement raises concerns about its impact on readiness.
Criticism of Militarization
Immigrant advocates warn against creating a hyper-militarized system that could expand the world’s largest migrant detention infrastructure. ICE detention facilities have faced criticism for failing to meet federal care standards, according to a DHS inspector general report.
Trump previously authorized military bases to house detained immigrants, a practice also utilized under the Obama administration during a surge of Central American migrants. Military facilities have historically been used for immigrant resettlement during crises, including for refugees from Vietnam, Cuba, and Afghanistan.
The debate over Trump’s immigration plans is intensifying as advocates question their feasibility and potential humanitarian impacts.
2 weeks ago
Saudi to invest $600 billion in US: Crown prince to Trump
Saudi Crown Prince Mohammed bin Salman announced on Thursday that the kingdom aims to invest $600 billion in the United States over the next four years. His remarks followed former President Donald Trump's earlier mention of Saudi Arabia as his potential first foreign visit since re-entering office.
Trump's initial trip abroad in 2017 broke tradition, as U.S. presidents usually visit the United Kingdom first. His visit to Saudi Arabia emphasized the close ties between his administration and Gulf rulers, with Trump’s real estate company also pursuing ventures in the region.
The state-run Saudi Press Agency reported that the crown prince shared the kingdom's plans to expand investments and trade with the U.S. during a phone call with Trump. While specific areas for the investments were not detailed, Saudi Arabia has been reducing its reliance on oil exports to the U.S., shifting focus toward investments in American businesses and sports.
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The White House has yet to release a statement on the call. It is unclear whether this was Trump's first conversation with a foreign leader since re-entering the White House.
In a separate call, the crown prince also spoke with U.S. Secretary of State Marco Rubio.
Trump, discussing his travel plans on Monday after his inauguration, hinted at revisiting Saudi Arabia as his first foreign destination, as in 2017. He said, “I went to Saudi Arabia last time because they committed to purchasing $450 billion worth of our products. If they agree to buy another $450 billion or $500 billion, adjusted for inflation, I’d likely go again.”
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The 2017 visit sparked a diplomatic rift, leading to a yearslong blockade of Qatar by Saudi Arabia and three other Arab countries.
Trump maintained close ties with Saudi Arabia throughout his presidency, despite global criticism over the involvement of Prince Mohammed in the 2018 killing of journalist Jamal Khashoggi in Istanbul. Talks between Saudi Arabia and the Biden administration have since centered on a broader agreement for Riyadh to formally recognize Israel in exchange for U.S. security guarantees and other benefits.
2 weeks ago
BNP leader optimistic about good US-Bangladesh ties under Trump
BNP senior leader Nazrul Islam Khan has expressed optimism that Bangladesh’s relations with the United States will remain unaffected under Donald Trump's presidency.
“We believe that the two governments in these democratic countries are democratically supported. So, we do not anticipate any significant changes in the relationship between the two governments and the countries,” he told reporters after a meeting with a delegation of Khelafat Majlis at the BNP Chairperson’s Gulshan office on Wednesday.
Election after minimum reforms, not seeking it now: Fakhrul
A nine-member delegation of Khelafat Majlis, led by its Ameer Maulana Abdul Basit Azad, had over an hour long meeting with BNP Secretary General Mirza Fakhrul Islam Alamgir and Nazrul Islam Khan.
In response to a question about the potential impact on US-Bangladesh relations following Donald Trump's inauguration as President, Nazrul said individual leaders do not have much influence over state policy making.
"But America is a country where the president holds significant power and influence. Even after that, we do not think the change in presidency will have much impact on Bangladesh’s relationship with the United States," he said.
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Nazrul, a BNP standing committee member, also said the change in power not only took place in the United States but also occurred in Bangladesh.
"Just as the change happened here with the support of the people, the shift in state power there (USA) also took place through the people's votes," he observed.
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In his inaugural address, Trump declared, "The golden age of America begins right now."
3 weeks ago
TikTok's value and potential buyers: Who might buy it?
TikTok, the hugely popular video-sharing platform, faces a potential ban on January 19 due to a federal law that could force it to sever ties with its China-based parent company, ByteDance, or cease its operations in the U.S, reports AP.
Several parties have shown interest in acquiring TikTok, but ByteDance has consistently stated it has no intention of selling. Experts have also highlighted that the Chinese government is unlikely to approve a sale that includes TikTok’s prized algorithm.
However, until the deadline passes or the Supreme Court intervenes, the possibility of a sale remains open. Here’s a breakdown:
What is TikTok’s valuation?
According to Wedbush analyst Dan Ives, TikTok’s value is “well over $100 billion” with its algorithm, and in an ideal scenario, it could be worth up to $200 billion. Without the algorithm, Ives estimates its value to be between $40 billion and $50 billion, adding that he doesn’t believe ByteDance or Beijing would agree to sell TikTok without its algorithm.
Lawyers for TikTok and ByteDance have argued that it’s not possible to divest the platform in both commercial and technological terms. They also contend that selling TikTok without its algorithm would effectively isolate the U.S. version of the app, severing it from the global content ecosystem.
U.S. officials have raised concerns that the Chinese government could manipulate the platform’s proprietary algorithm, using it to influence content in ways that would be difficult to detect.
Who is seriously interested in buying TikTok?
Billionaire real estate mogul Frank McCourt and his internet advocacy group have recently proposed purchasing TikTok from ByteDance. Shark Tank investor Kevin O’Leary has also joined the bid, though details about the proposal remain undisclosed.
McCourt, the former owner of the Los Angeles Dodgers, has said that he would aim to restructure TikTok and allow users more control over their digital identities and data. He envisions moving the platform to an open-source protocol to ensure greater transparency.
Former Treasury Secretary Steven Mnuchin has also taken steps to acquire TikTok, stating shortly after the ban was passed that he was assembling an investor group for the purchase. He provided no specifics about the group's composition or TikTok’s valuation.
In addition, figures like Tesla CEO Elon Musk, MrBeast (Jimmy Donaldson), and former Blizzard-Activision CEO Bobby Kotick have been mentioned as potential buyers. However, it’s unclear whether they are seriously pursuing a deal.
Could Trump Intervene? President-elect Donald Trump, who will take office on January 20, has asked the court to pause the law in order to negotiate a “political resolution” during his second term.
If the Supreme Court grants this request, the potential ban on TikTok would be delayed. The Court is expected to make a decision soon.
The Trump transition team has not provided specific details about how he plans to act on his campaign promise to "save TikTok." However, spokeswoman Karoline Leavitt stated in November that Trump intends to fulfill that commitment.
Once Trump is in office, the Justice Department will be responsible for enforcing the law and penalising any potential violators. On Wednesday, Trump’s nominee for Attorney General, Pam Bondi, declined to answer a question on whether she would uphold a TikTok ban during her Senate hearing.
3 weeks ago
China's exports in December grew 10.7%, beating estimates as higher US tariffs loom
China’s exports in December grew at a faster pace than expected, as factories rushed to fill orders to beat higher tariffs that U.S. President-elect Donald Trump has threatened to impose once he takes office.
Exports rose 10.7% from a year earlier. Economists had forecast they would grow about 7%.
Imports rose 1% year-on-year. Analysts had expected imports to shrink about 1.5%.
Trump has pledged to raise tariffs on Chinese goods and close some loopholes that exporters now use to sell their products more cheaply in the U.S. If enacted, his plans would likely raise prices in America and squeeze sales and profit margins for Chinese exporters.
With exports outpacing imports, China's trade surplus grew to $104.84 billion.
China's exports are likely to remain strong in the near-term, said Zichun Huang of Capital Economics, as businesses try to “front-run” potentially higher tariffs.
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“Outbound shipments are likely to stay resilient in the near-term, supported by further gains in global market share thanks to a weak real effective exchange rate," she wrote in a note.
But exports will likely weaken later in the year if Trump follows through on his threat to impose tariffs, Huang said.
4 weeks ago