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ACC starts probe into corruption of BFIU ex-chief

FE REPORT | 2024-09-26 00:00:00

The Anti-Corruption Commission (ACC) has launched probes into the alleged corruption of former BFIU chief Masud Biswas and former CU VC Dr Shireen Akhter, who abused their respective positions.According to the ACC's primary investigations, after assuming the responsibility of the...

Jaishankar confident of strong ties with BD

2024-09-26 00:00:00

India's External Affairs Minister S. Jaishankar expressed confidence in the resilience of India's diplomatic ties with Bangladesh and Sri Lanka, despite recent political shifts in both countries, reports UNB. Speaking at an event titled "India, Asia, and the World," hosted...

Move to import spot LNG under PPR faces setback

M AZIZUR RAHMAN | 2024-09-26 00:00:00

The interim government's move to purchase liquefied natural gas (LNG) from the spot market faced a setback as the bids offered fell short of minimum requirement under the Public Procurement Rules (PPR) 2008.The authorities concerned received two bids each in...

Prof Yunus seeks global attention to Rohingya issue

2024-09-26 00:00:00

New York (USA), Sept 25 (UNB): Chief Adviser Prof Muhammad Yunus has sought international community's continuous attention to the Rohingya crisis, otherwise, he warned that it might put the entire region in trouble, not just Bangladesh."We must pay attention," he...

Lowers GDP growth to 5.1pc for downside risks

FE REPORT | 2024-09-26 00:00:00

Asian Development Bank's revised outlook of Bangladesh's economy projects a dip in the GDP growth by 1.50-percentage points to 5.1 per cent in the current fiscal for a slew of downside risks.The wellspring of risks mostly comprises continuing political uncertainty,...

Weak banks' liquidity ordeals seem over as well-off bankers yield

SDDIQUE ISLAM AND JUBAIR HASAN | 2024-09-26 00:00:00

Liquidity-strapped banks' ordeals are set to be all over as well-off bankers finally decide in principle to lend to the weaklings, sources said, thanks to regulatory interventions.Officials and bankers said that, under the bailout arrangement, top management of the lender...

Most Gulf markets subdued on oil, geopolitical tensions

2024-09-26 00:00:00

Major stock markets in the Gulf were subdued on Wednesday amid falling oil prices and rising geopolitical tensions in the region, reports Reuters.Oil prices - a catalyst for the Gulf's financial markets - fell as investors reassessed the ability of...

China bond market opening offers no panacea to debt-laden African states

2024-09-26 00:00:00

NAIROBI/SHANGHAI, Sept 25 (Reuters): Plans by African governments to raise money on China's domestic debt markets via so-called panda bonds could be undone by their heavy debt loads and a wider lack of market infrastructure, investors and analysts said.African governments...

Global stocks struggle as China stimulus boost fades

2024-09-26 00:00:00

LONDON, Sept 25 (Reuters): Stocks globally struggled on Wednesday to maintain momentum fuelled by China's monetary stimulus measures, with crude oil retreating and the dollar under pressure.European stocks eked out slim gains after opening in the red, following a near...

Beijing 'firmly opposes' US ban of Chinese tech from connected vehicles

2024-09-26 00:00:00

BEIJING, Sept 25 (AFP): China's commerce ministry on Wednesday said it "firmly opposes" US plans to ban the sale of connected vehicles incorporating Chinese and Russian technology, citing national security risks."The US practice has no factual basis, violates the principles...

US 30-year mortgage rate slips to 6.13pc, refinancing jumps

2024-09-26 00:00:00

NEW YORK, Sept 25 (Reuters): The interest rate for the most popular US home loan ticked down to 6.13 per cent last week, the lowest in about two years, and refinancing activity jumped, data from the Mortgage Bankers Association showed...

Google complains to EU over Microsoft cloud practices

2024-09-26 00:00:00

BRUSSELS, Sept 25 (Reuters): Alphabet unit Google filed a complaint to the European Commission on Wednesday against what it said were Microsoft's anti-competitive practices to lock customers into Microsoft's cloud platform Azure.Google, whose biggest cloud computing rivals are Microsoft and...

TOAB calls for vat exemption, reforms to tourism regulations

2024-09-26 00:00:00

Tour Operators Association of Bangladesh (TOAB) called on the government on Wednesday to cancel new deposit requirements and address inconsistencies in the 'Tour Operator and Tour Guide Act, 2024', warning that these measures could harm future of the tourism industry,...

Foreign smartphone sales in China drop 12.7pc

2024-09-26 00:00:00

BEIJING, Sept 25 (Reuters): Sales of foreign-branded smartphones, including Apple Inc's iPhone, in China fell 12.7 per cent in August year-on-year, according to data released on Wednesday from a government-affiliated research firm.Calculations based on the data from the China Academy...

Fed's rate cut revives 'reflation specter' in US bond market

2024-09-26 00:00:00

NEW YORK, Sept 25 (Reuters): The Federal Reserve's aggressive start of the easing cycle has rekindled inflation worries in the US bond market, as some investors fear looser financial conditions could re-ignite price pressures.Yields on longer-dated Treasuries that are most...

NCC Bank training in Chattogram

2024-09-26 00:00:00

NCC Bank organised a daylong training on 'CMSME, Sustainable Finance & Digital Financial Services (DFS)' recently in Chattogram for the CMSME Relationship Managers of that region. M. Shamsul Arefin, Managing Director & CEO of the bank, inaugurated the training programme...

SOUTHEAST BANK AGM APPROVES 10PC DIVIDENDS

2024-09-26 00:00:00

The 29th Annual General Meeting of Southeast Bank PLC was held virtually on Wednesday. Alamgir Kabir, Chairman of the bank, presided over the meeting. Vice Chairman Md. Akikur Rahman, Founder Chairman and Sponsor Director M. A. Kashem, ex-Chairman and Sponsor...

DHAKA BANK CLIENT WINS 1ST PRIZE IN MASTERCARD CAMPAIGN

2024-09-26 00:00:00

The award ceremony of the Mastercard Summer Spend and Win Campaign, 'Stunning Sydney-2024' was held at a ceremony at a city hotel recently. Syed Mohammad Kamal, Country Manager of Mastercard Bangladesh, presented the 1st prize (a 3-night, 4-day round trip...

Industries Adviser for enhancing trade, investment between Bangladesh and South Korea

2024-09-26 00:00:00

Industries Adviser Adilur Rahman Khan called for enhancing trade and investment between Bangladesh and South Korea, describing the country as one of the important development partners of his country, reports BSS."Bangladesh and South Korea signed a bilateral-trade agreement on June...

Sakhawat seeks WB investment in jute, shipbuilding sectors

2024-09-26 00:00:00

Shipping, Jute and Textiles Adviser Brig Gen (Retd) Dr M Sakhawat Hussain called upon on Wednesday the World Bank (WB) to invest in Bangladesh's jute and textiles sectors and shipbuilding industry, reports BSS."Jute and shipbuilding are enormously potential sectors ....

ACI Motors organises Sonalika Day-Annual Service Campaign

2024-09-26 00:00:00

ACI Motors has organised a Sonalika Day - Annual Service Campaign and Feedback Sharing Session-2024 for its customers, says a press release. The campaign started on Tuesday with nine programmes at a time across the country. It was officially inaugurated...

Guardian Life partners with Grameen Digital Healthcare Solutions

2024-09-26 00:00:00

Guardian Life Insurance Ltd and Grameen Digital Healthcare Solutions have announced a strategic partnership to offer enhanced insurance coverage aimed at making healthcare more affordable and accessible to individuals across Bangla-desh, says a press release. By combining the medical services...

‘Govt’s objective is to ease trade, commerce’

FE REPORT | 2024-09-26 00:00:00

The objective of the present government is to ease and facilitate the country's trade and business.Finance and Commerce Adviser Salehuddin Ahmed said this at a meeting with the leaders of American Chamber of Commerce (AmCham) at the commerce ministry on...

Metro Spinning to keep factory shut for one more yr

FE REPORT | 2024-09-26 00:00:00

Metro Spinning Ltd, a concern of Makson Group, has announced to keep its factory closed for 12 more months for renovations aimed at enhancing production capacity. The spinning mill announced the closure of its factory through a stock exchange filing...

Islami Bank stock now under BSEC scanners for unusual price hike

FE REPORT | 2024-09-26 00:00:00

The securities regulator has asked the Dhaka Stock Exchange (DSE) to investigate the unusual price movements and trading volumes of shares in Islami Bank Bangladesh.Islami Bank stock price soared 116 per cent to Tk Tk 70.4 on Wednesday at the...

27 listed cos downgraded to 'Z' category

FE REPORT | 2024-09-26 00:00:00

In a major push to enforce compliance, Dhaka Stock Exchange (DSE) has downgraded 27 more listed companies to the 'junk' or 'Z' category as half of them failed to declare any dividends for two consecutive years and the others did...

UniCredit overtures hold few fears for Germany’s Mittelstand

2024-09-26 00:00:00

BERLIN, Sept 25 (Reuters): Germany's Commerzbank says its role as a key lender to the swathe of "Mittelstand" midsize companies that drive Europe's top economy is grounds to resist UniCredit's overtures. But Mittelstand leaders themselves are less convinced.Italy's UniCredit said...

China announces new measures to boost employment

2024-09-26 00:00:00

BEIJING, Sept 25 (AFP): China's leadership announced new measures to boost employment, state media reported on Wednesday, a day after Beijing unveiled a sweeping stimulus package to bolster its ailing economy.The world's number two economy has struggled to sustain a...

MIST signs MoU with Walton for research, innovation

2024-09-26 00:00:00

Walton Digi-Tech Industries Limited and Military Institute of Science and Technology (MIST) have signed a Memorandum of Understanding (MoU) for a three-year partnership aimed at promoting research, cooperation, innovation and technological advancement, reports BSS.According to an ISPR release issued in...

Attack, vandalism in Gazipur over control of 'cloth scrap' business

2024-09-26 00:00:00

An apparel factory in Garipur's Sreepur Upazila has been attacked and vandalised over the control of a business tied to cloth scraps and waste fabric, referred to locally as 'jhut', reports bdnews24.comPanic over the incident disrupted traffic on the Dhaka-Mymensingh...