Briefing 2024-03-19

Regulator steps in to dissuade Sea Pearl, ICB from legal fight
Years of non-payment by Sea Pearl Beach Resort & Spa to the state-run Investment Corporation of Bangladesh (ICB) against bonds worth Tk 3.25 billion has led to a legal tussle between the parties. To help recover the money, the securities regulator accepted a proposal that 20 per cent convertible bonds be converted into shares of Sea Pearl but attached some conditions to it. Page 9
Rana new face in Test against S Lanka
The Bangladesh Cricket Board (BCB) has announced a 15-member squad for the first of the two Tests against Sri Lanka on Monday with pacer Nahid Rana making the way as the only new face. Since making his first-class debut in November 2021, Rana has taken 63 wickets from 15 matches. Litton Kumer Das returns to the side after missing the last Test series. Page 15
Over 13,000 children killed in Gaza: UNICEF
The U.N. children's agency said on Sunday over 13,000 children have been killed in Gaza in Israel's offensive, adding many kids were suffering from severe malnutrition and did not "even have the energy to cry." "Thousands more have been injured or we can't even determine where they are. We haven't seen that rate of death among children in almost any other conflict in the world," UNICEF Executive Director Catherine Russell told CBS News. Page 17
BJMA seeks 30pc subsidy on machinery update
The country's private jute millers sought a 30 per cent cash subsidy on machinery modernisation due to outdated units that expired decades ago. As a machine has a lifespan of 10 to 15 years, they claimed that roughly 80 per cent of the machines were purchased prior to independence (60 to 65 years ago), meaning that they expired 45 to 50 years ago. Page 20