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Inter-agencies task-force re-constituted to recover laundered money

FE REPORT | 2024-09-30 00:00:00

The government has re-constituted inter-agencies task-force on recovering all laundered money.The financial institutions division (FID) on Sunday issued a circular on the matter.The central bank's governor will lead the high-power nine-member task-force while deputy governor Md Zakir Hossain Chowdhury will...

Funding hurdles hamper prospective leaps in agricultural startups

JASIM UDDIN HAROON | 2024-09-30 00:00:00

Bangladesh's agricultural startups are facing significant challenges, primarily for a lack of funding and investor interest, despite the sector holding huge untapped economic potential. Sources say financial institutions, including banks, tend to shy away from these ventures, perceiving them as...

Finance Adviser seeks World Bank, IFC assistance for reforms

FE REPORT | 2024-09-30 00:00:00

The government has sought support from the World Bank and its private sector arm the International Finance Corporation (IFC) once again.Finance Adviser Dr Salehuddin Ahmed had discussions with delegation from the World Bank and the IFC here on Sunday, seeking...

ILO recommends wage restructuring, labour law reform to end RMG unrest

FE REPORT | 2024-09-30 00:00:00

The ILO has identified, at least, five issues that have been troubling the Bangladesh's readymade garment industry frequently and showed the remedies that include reform in wage structure and relevant policies, and amendments to the labour law.In a statement issued...

Jobs data to test US stock mkt's soft-landing hopes

2024-09-30 00:00:00

NEW YORK, Sept 29 (Reuters): Investor hopes for a soft landing for the US economy will be put to the test next week, as the government releases closely watched labor market data following a series of disappointing jobs reports.Wall Street's...

DSE turnover drops below Tk 5b mark after six weeks

FE REPORT | 2024-09-30 00:00:00

The daily trade turnover on the Dhaka Stock Exchange (DSE) fell below the Tk 5 billion mark on Sunday after six weeks, as investor sentiment remained subdued due to prevailing concerns.Turnover, a crucial indicator of the market, stood at Tk...

Thailand's pension fund earmarks $11.6b for global investment overhaul

2024-09-30 00:00:00

BANGKOK, Sept 29 (Reuters): Thailand's underperforming $77 billion social security fund will invest $11.6 billion in a new foray into global private assets, an executive told Reuters, part of a strategic overhaul to address its poor returns amid rising demand...

India to probe fire at Tata plant making components for Apple iPhones

2024-09-30 00:00:00

BENGALURU, Sept 29 (Reuters): Indian authorities are set to begin a forensic investigation into the cause of a fire that broke out on Saturday at a Tata Electronics factory that makes components for Apple iPhones, a Tamil Nadu state official...

Nepal dam-building spree powers electric vehicle boom

2024-09-30 00:00:00

KATHMANDU, Sept 29 (AFP): Taxi driver Surendra Parajuli's decision to buy an electric cab would have been unthinkable a decade ago, when chronic power cuts left Nepalis unable to light their homes at night.But a dam-building spree has led to...

Uttara Bank's Kansat Branch opens at new premises in C'nawabgonj

2024-09-30 00:00:00

The Kansat Branch of Uttara Bank PLC was opened at its new premises at Kansat Gopalnagar Eidgah Market, Shibgonj in Chapainawabgonj on Sunday. Managing Director & CEO of the bank Mohammed Rabiul Hossain inaugurated the branch as the chief guest....

Shahjalal Islami Bank holds 384th Board Meeting

2024-09-30 00:00:00

The 384th meeting of the board of directors of Shahjalal Islami Bank PLC was held at its corporate head office in the city recently. Chairman of the bank AK Azad presided over the meeting. The board has approved a number...

Trust Bank PLC Managers' Meet 2024

2024-09-30 00:00:00

General Wakar-Uz-Zaman, OSP, SGP, psc, Chief of Army Staff, Bangladesh Army, and Chairman of Trust Bank PLC, was present as the Chief Guest at the Managers' Meet 2024 of the bank on Saturday at Radisson Blu Water Garden Hotel, Dhaka....

ACI Motors launches Yamaha FZS Version 4.0

2024-09-30 00:00:00

Yamaha has consistently been a global leader in modern and exceptional motorcycles. Bangladesh is no exception to this distinction. Ever since its partnership with ACI Motors in 2016, Yamaha has gained even more popularity among both young and experienced Bangladeshi...

LankaBangla Finance launches co-branded titanium credit card

2024-09-30 00:00:00

LankaBangla Finance PLC and STS Capital Ltd (STS Group), in partnership with Mastercard, recently launched a co-branded credit card offering exclusive benefits for STS Group's employees, teachers, and parents of students under the STS education umbrella, including Universal College Bangladesh...

Assets in actively managed ETFs top $1 tr worldwide

2024-09-30 00:00:00

Assets in actively managed exchange-traded funds (ETFs) worldwide hit a record $1 trillion at the end of August, according to data provider ETFGI, boosted by easier regulations and a wave of product innovation, reports Reuters.Active ETFs seek to outperform the...

CCH extends dual delivery policy for importers

NAZIMUDDIN SHYAMOL | 2024-09-30 00:00:00

CHATTOGRAM, Sept 29: The Chittagong Customs House (CCH) has extended the permission for importers to take delivery of 38 types of imported goods, including food products specified by the National Board of Revenue (NBR) from both the jetties of the...

MA Kashem new chairman of Southeast Bank

2024-09-30 00:00:00

MA Kashem was unanimously elected Chairman of Southeast Bank PLC at its 743rd Board Meeting held on Sunday, says a statement.Mr Kashem, the founder chairman and sponsor-director of the bank, is also the chairman of Rose Corner (Pvt.) Limited. He...

MTB Foundation presents 'Bravery Award'

2024-09-30 00:00:00

The MTB Foundation recently presented its 14th Bravery and Courage Award to the family of late Md Jubayer, who lost his life while trying to save a mother and her one-year-old son as they attempted to commit suicide by jumping...

Renata's stock drops despite strong profit growth

FE REPORT | 2024-09-30 00:00:00

The stock price of Renata PLC dropped 2.31 per cent on Sunday even as the drug maker reported an impressive profit growth and declared a hefty dividend for the financial year that ended in June last.The drug maker posted a...

Stakeholders submit a slew of recommendations to government

SAIF UDDIN | 2024-09-30 00:00:00

ICT sector stakeholders have submitted a set of recommendations to the interim government to make internet and information technology-enabled services easily accessible and affordable to the people.The entrepreneurs, experts and rights activists urged the government to form an expert committee...

Asian spot LNG price flat amid tepid demand

2024-09-30 00:00:00

KUALA LUMPUR, Sept 29 (Reuters): Asian spot liquefied natural gas (LNG) prices were flat last week amid tepid demand in northeast Asia, though hot weather in Japan weighed on inventories held by major utilities.The average LNG price for November delivery...

Exxon director joins Elliott group to acquire Citgo Petroleum

2024-09-30 00:00:00

HOUSTON, Sept 29 (Reuters): Exxon Mobil board director Gregory Goff recently joined a newly formed Elliott Investment Management-backed company seeking to acquire control of Venezuela-owned oil refiner Citgo Petroleum.Citgo and Exxon are rivals in the motor fuels and lubrications business....

China cuts rates, injects liquidity

2024-09-30 00:00:00

BEIJING, Sept 29 (Reuters): China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing ramps up stimulus to pull economic growth back towards this year's roughly 5 per cent target and fight deflationary...

US auto sales could fall by 25,000 a year under rules barring Chinese vehicles

2024-09-30 00:00:00

WASHINGTON, Sept 29 (Reuters): The Commerce Department said Friday that US auto sales could drop by up to 25,841 vehicles a year and prices rise if proposed rules go ahead that would ban Chinese vehicles that connect to the internet...

Turkey's entry to BRICS ‘to benefit entire world’

2024-09-30 00:00:00

MOSCOW, Sept 29 (TASS): The possible membership of Turkey in BRICS will benefit not merely Ankara alone but the entire world, Speaker of the Grand National Assembly (the parliament) of Turkey Numan Kurtulmus said in an interview with TASS First...

Rupali Bank observes Int'l Day for Access to Information

2024-09-30 00:00:00

Rupali Bank PLC observed International Day for Universal Access to Information with the theme 'Mainstreaming Access to Information and Participation in the Public Sector'. In this connection, the bank arranged a rally in front of its head office on Sunday....

Sonali Bank observes Int'l Day for Access to Information

2024-09-30 00:00:00

Sonali Bank PLC observed International Day for Universal Access to Information with the theme 'Mainstreaming Access to Information and Participation in the Public Sector'. In this connection, the bank arranged a rally in front of its head office on Sunday....

UAE keen to invest in Chattogram port

2024-09-30 00:00:00

The United Arab Emirates (UAE) is keen to invest in Chattogram port for financial benefit of the both countries.UAE ambassador in Bangladesh Abdullah Ali Al Hamoudi on Sunday expressed the interest in a meeting with Adviser of the Interim Government...

UN pledges full support for Bangladesh’s smooth LDC graduation

2024-09-30 00:00:00

UN Under Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, Rabab Fatima, has met Chief Adviser Prof Muhammad Yunus and assured him of her office's full support for Bangladesh's smooth transition...

Social Islami Bank "Foundation Training on Banking"

2024-09-30 00:00:00

Social Islami Bank launched three week-long foundation training on banking of the newly-joined probationary officers on 29 September at the bank's head office. Maksuda Begum, Vice Chairman & Chairman of EC Committee of Social Islami Bank PLC, inaugurated a three-week...