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NCPSRR finds reason behind decline in number of launch passengers

2023-09-12 00:00:00

National Committee to Protect Shipping, Roads and Railways (NCPSRR) has identified four reasons behind the decline in the number of launch passengers on various waterways from Dhaka, reports UNB.Those are- improved road connectivity between the capital and the south-western region...

French President takes a boat trip, visits Joler Gaan studio

2023-09-12 00:00:00

French President Emmanuel Macron on Monday took a boat trip on the Turag River before wrapping up his visit to Bangladesh, report agencies.Macron enjoyed the unscheduled boat ride, said Information and Broadcasting Minister Hasan Mahmud.The French president was accompanied by...

PKB faces hurdles in rehab loans due to data gap

ARAFAT ARA | 2023-09-12 00:00:00

Probashi Kallyan Bank (PKB) is facing hurdles in finding the right beneficiaries for rehabilitation loans, which is one of the key schemes of the bank, due to a lack of a database of returnee migrant workers, officials said.They said that...

Arrest warrant against BNP leader Tuku in graft case

2023-09-12 00:00:00

A Dhaka court has issued an arrest warrant against BNP standing committee member Iqbal Hasan Mahmood Tuku in a graft case as he failed to surrender before it following an order of the High Court, reports BSS.Dhaka Special Judges Court-5...

President Macron pays rich tribute to Bangabandhu

2023-09-12 00:00:00

French President Emmanuel Macron has paid homage to Father of the Nation Bangabandhu Sheikh Mujibur Rahman at the Bangabandhu Memorial Museum at Dhanmondi-32,reports UNB."I wanted to pay tribute to Sheikh Mujibur Rahman who dedicated his life to the fight for...

People really want change of govt: Fakhrul

FE REPORT | 2023-09-12 00:00:00

The people of the country from the bottom of their hearts really want to see the change of the incumbent government, said Bangladesh Nationalist Party (BNP) Secretary General Mirza Fakhrul Islam Alamgir on Monday."The youth of the country should be...

PM attracted attention of global leaders at G-20 Summit: Quader

2023-09-12 00:00:00

Awami League (AL) General Secretary Obaidul Quader has said as an invited guest, the presence of Prime Minister Sheikh Hasina at the G-20 Summit attracted the attention of world leaders, reports BSS."People's leader Sheikh Hasina has become the centre of...

Global shares rise, dollar drops vs yen after BOJ hint of exit from negative rates

2023-09-12 00:00:00

LONDON, Sept 11 (Reuters): Global shares edged up on Monday thanks in part to a burst of risk appetite, with the yen jumping by the most against the dollar in two months after the head of the Bank of Japan...

China relaxes rules for insurers to invest in stock markets

2023-09-12 00:00:00

BEIJING, Sept 11 (Reuters): China's financial regulator on Sunday reduced the risk weighting it attaches to insurance companies' holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country's lagging stock market.The National Administration of Financial...

Alibaba stock slides after ex-CEO abruptly quits cloud unit ahead of IPO

2023-09-12 00:00:00

HONG KONG, Sept 11 (Reuters): Alibaba's stock lost more than 4 per cent in Hong Kong on Monday after ex-group CEO Daniel Zhang quit just two months after concentrating his focus on cloud computing, raising concern over the unit's spin-off...

Delhi may relook at allowing Indian companies to list overseas: Indian Finmin

2023-09-12 00:00:00

NEW DELHI, Sept 11 (Reuters): India may reconsider allowing local firms to list on foreign exchanges, Finance Minister Nirmala Sitharaman said on Monday, signalling New Delhi could revive a plan put on hold due to domestic opposition and tax concerns.Under...

Alibaba okays surprise departure of ex-CEO

2023-09-12 00:00:00

BEIJING, Sept 11 (AFP): Chinese e-commerce giant Alibaba has announced the surprise departure of former CEO Daniel Zhang, who had been set Monday to take charge of a key subsidiary as the firm undergoes a major restructuring.Hangzhou-based Alibaba is one...

JM Smucker nears roughly $5b deal to buy Hostess Brands

2023-09-12 00:00:00

NEW YORK, Sept 11 (Reuters): Jif peanut butter maker J.M. Smucker is nearing a deal to buy Hostess Brands, the owner of Twinkies snack cakes, for close to $5 billion, sources familiar with the matter said on Sunday.The deal value...

Meta developing new powerful AI system

2023-09-12 00:00:00

WASHINGTON, Sept 11 (Reuters): Meta Platforms is working on a new artificial-intelligence system intended to be as powerful as the most advanced model offered by OpenAI, the Wall Street Journal reported on Sunday, citing people familiar with the matter.The Facebook...

Tesla Dojo supercomputer to boost market value by $600b

2023-09-12 00:00:00

LONDON, Sept 11 (Reuters): Tesla's Dojo supercomputer could power a near $600 billion jump in the automaker's market value by boosting the adoption of robotaxis and its software services, Morgan Stanley analysts said.The electric-vehicle maker (EV) started production of the...

China's central bank to scrutinise bulk dollar purchases

2023-09-12 00:00:00

BEIJING/SHANGHAI, Sept 11 (Reuters): China's central bank is tightening its scrutiny of bulk dollar purchases by domestic firms, three sources with direct knowledge of the matter said on Monday, at a time when the Chinese currency faces mounting depreciation pressure.Companies...

BMW to invest $751m in UK Mini plants to fuel electric car output

2023-09-12 00:00:00

LONDON, Sept 11 (AFP): German car giant BMW on Monday said it would invest more than £600 million ($751 million) in its UK plants making the Mini, with the Oxford site producing only electric vehicles from 2030.British media said the...

KONKA TV WINS GOLD AWARD AT IFA

2023-09-12 00:00:00

Chinese home appliance brand Konka has been honoured with a prestigious award at the Internationale Funkausstellung Berlin (IFA) 2023, the world's largest consumer electronics and home appliances trade show. Konka has emerged victorious in the Home Audio-Visual Experience Gold category,...

YAMAHA SHOWROOM IN SATKHIRA GETS NEW LOOK

2023-09-12 00:00:00

Yamaha's biggest showroom in the southern region -- 'Prestige Motors' -- unveiled its new look in Satkhira recently. Customers can avail 'after-sales service' for their motorcycles on the ground floor of the two-storey showroom built over a large area. On...

COMMUNITY BANK CELEBRATES 4TH ANNIVERSARY

2023-09-12 00:00:00

Community Bank Bangladesh Limited has celebrated its glorious achievement of four years and stepped into the fifth year. To celebrate its 4th anniversary, an event was organised at the Hall of Pride of Police Headquarters on Monday. The event was...

Mercantile Bank organised a conference

2023-09-12 00:00:00

Mercantile Bank organised a conference on the prevention of money laundering and terror financing in Feni recently for agent outlets of the Cumilla-Noakhali region. Md Enayet Ullah, executive vice president and head of the audit unit, discussed legal and regulatory...

Southeast Bank organised a virtual training programme

2023-09-12 00:00:00

Southeast Bank Limited organised a virtual training programme titled 'Communication Skills, Teamwork, Problem Solving, Conflict Management, and Emotional Intelligence'. Nuruddin Md Sadeque Hossain, managing director of the bank, addressed the programme, while Dhaka University Prof Dr Kazi Mostak Gausul Hoq...

BRAC Bank launched first female-only scholarship - 'Aporajeyo TARA'

2023-09-12 00:00:00

BRAC Bank has launched the first female-only scholarship - 'Aporajeyo TARA' - for students of Dhaka University and BRAC University. The inaugural ceremony of 'Aporajeyo TARA' for the students of Dhaka University was held at the Faculty of Business Studies...

SCB introduces 20-week parental leave to promote the idea of sharing responsibility

DOULOT AKTER MALA | 2023-09-12 00:00:00

Standard Chartered Bank has introduced 20-week paid parental leave for its employees to put forward the philosophy that child rearing is a responsibility for both parents to share. The objective is to help parents of the newborns rear a new...

HC upholds min portfolio of Tk 3m to qualify for trading in SME stocks

FE REPORT | 2023-09-12 00:00:00

The High Court has kept Tk 3 million as minimum investment to qualify for trading on the SME platform of the stock exchanges.Now, an investor, who has been maintaining a portfolio of at least Tk 3 million in listed securities...

Beximco Pharma faces EU export restrictions on ophthalmic plant's design concerns

FARHAN FARDAUS and BABUL BARMAN | 2023-09-12 00:00:00

Beximco Pharmaceuticals faces a ban on export of eye drops for glaucoma to the European market over concerns tied to the manufacturing plant in Bangladesh. The drug maker listed in Bangladesh's stock market and London Stock Exchange should be barred...

EU cuts eurozone 2023 growth forecast

2023-09-12 00:00:00

BRUSSELS, Sept 11 (AFP): The European Commission cut its 2023 and 2024 eurozone economic growth forecasts on Monday, with the single currency area weighed down by Germany's poor performance.The EU's executive arm predicted the German economy would contract by 0.4...

Canada plans incentives to ease housing burden

2023-09-12 00:00:00

ONTARIO, Sept 11 (Reuters): Canada's Housing Minister Sean Fraser is evaluating a wide range of options as he looks to ease the housing crisis in the country, CBC reported on Sunday."There's a range (of incentives) that we're considering right now....

Malaysia to ban export of rare earths

2023-09-12 00:00:00

KUALA LUMPUR, Sept 11 (Reuters): Malaysia will develop a policy to ban exports of rare earth raw materials to avoid exploitation and loss of resources, Prime Minister Anwar Ibrahim said on Monday, making it the latest country to restrict shipments...

China set to invest billions in Serbian copper and gold mine

2023-09-12 00:00:00

BELGRADE, Sept 11 (AFP): China is set to pour billions into a copper and gold mine in eastern Serbia, marking another dramatic increase in investment in the Balkan country by Beijing.According to a memorandum of understanding signed over the weekend...