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New subordinated debt pleas give rise to debate over banks’ capital raising trend

MOHAMMAD MUFAZZAL | 2023-07-20 00:00:00

Six banks have recently sought permission of the securities regulator to raise Tk 35 billion in total through subordinated debts to strengthen their capital base, calling into question again the outcome of such instruments. Among the applicants, UCB seeks to...

Tata chooses UK for $5b Jaguar Land Rover gigafactory

2023-07-20 00:00:00

LONDON, July 19 (Reuters): India's Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a UK car industry in need of domestic battery production to help...

UK inflation rate slows

2023-07-20 00:00:00

LONDON, July 19 (AFP): Britain's annual inflation rate slowed more than expected in June as it dropped below eight per cent, official data showed Wednesday, easing the country's cost-of-living crisis.The Consumer Prices Index rose by an annual rate of 7.9...

COMMUNITY BANK OPENS SUB-BRANCH IN KHULNA

2023-07-20 00:00:00

Community Bank Bangladesh Limited has opened a sub-branch at KMP Shopping Complex at Sir Iqbal Road (Kalibari) in Khulna. It will be operated under Khulna Branch of the bank. Md Masudur Rahman Bhuiyan, Police Commissioner, Khulna Metropolitan Police, formally inaugurated...

Sugar-sweetened beverage consumption on the rise in developing countries: IFAD

2023-07-20 00:00:00

Sugar-sweetened beverage consumption is on the rise in developing countries, according to a literature review released by the International Fund for Agricultural Development (IFAD) as part of its IFAD Research Series, reports UNB.The global sales of total per capita volumes...

Dhaka urges Tokyo to extend preferential treatment to BD even after LDC graduation

2023-07-20 00:00:00

Foreign Minister Dr AK Abdul Momen has requested Japan to continue providing preferential treatment and concessions to Bangladesh even after its graduation from the Least Developed Country (LDC) status.He also sought Japan's active support for Bangladesh at the multilateral level...

Nagad hands over BMW car to payment campaign winner

FE DESK | 2023-07-20 00:00:00

Pahlowan Mahbub Hai-der, a resident of Dhaka, achieved a momentous victory by winning the BMW car in the mega payment campaign conducted by the mobile financial service operator 'Nagad.' His secured the top position with 473,027 votes, which were cast...

3,000 traders to be allowed to import used clothes

FE REPORT | 2023-07-20 00:00:00

A total of 3,000 traders across the country will get opportunity to import used clothes (second-hand clothes) in the fiscal year (FY) 2022-23, official sources said.Importers will be selected based on population density in each district and through lotteries held...

Japan suspends poultry imports from second Brazilian state

2023-07-20 00:00:00

Japan has temporarily suspended imports of chicken from Brazil's Santa Catarina state after the confirmation of a highly pathogenic avian influenza (HPAI) case in a backyard chicken, Brazilian meat lobby ABPA said on Monday, creating a new headache for the...

Gold near 8-week high

2023-07-20 00:00:00

Gold prices on Wednesday were near eight-week highs reached in the previous session after economic data raised expectations that the US Federal Reserve is near the end of its interest rate hiking, reports Reuters.Spot gold eased 0.2 per cent at...

Baker Hughes beats profit estimates

2023-07-20 00:00:00

US oilfield technology firm Baker Hughes beat second-quarter profit estimates on Wednesday, helped by strong demand for its services and equipment as exploration activities remained resilient despite lower oil prices, reports Reuters.Energy firms have begun to invest some of the...

Cocoa prices hit highest in 12 years in New York

2023-07-20 00:00:00

NEW YORK, July 19 (Reuters): Chocolate-making raw material cocoa's prices rose to the highest in more than 12 years in New York on Tuesday, only a few weeks after its prices jumped to the highest in 46 years in London,...

Brent oil hovers over $80 as inflation worries ease

2023-07-20 00:00:00

LONDON, July 19 (Reuters): Global oil benchmark Brent hovered above $80 on Wednesday, buoyed by China's pledge to reinvigorate economic growth and expectations that the US Federal Reserve will stop raising interest rates soon.Brent futures were up 64 cents at...

News in Brief(2023-07-20)

2023-07-20 00:00:00

Putin will not attend BRICS summitJOHANNESBURG, July 19: Russian President Vladimir Putin will not attend a BRICS nations summit in South Africa next month, the country's presidency said on Wednesday, ending months of speculation. Putin's potential visit has been a...

Guterres warns of risks of artificial intelligence

2023-07-20 00:00:00

UNITED NATIONS, July 19 (Xinhua): UN Secretary-General Antonio Guterres on Tuesday warned of the risks of artificial intelligence (AI) and called for a race to develop AI for good purposes.AI is being put to work in connection with peace and...

Fifteen die from electrocution near India river

2023-07-20 00:00:00

CHAMOLI, July 19 (BBC): Fifteen people have died after an electricity transformer exploded on the banks of the Alaknanda river in the north Indian state of Uttarakhand.Authorities say a police official and five home guards are among those killed in...

Blast leaves 7 dead

2023-07-20 00:00:00

PENNSYLVANIA, July 19 (AP): Natural gas leaked from a defective fitting at a Pennsylvania chocolate factory where a powerful explosion leveled one building, heavily damaged another and killed seven people, federal safety investigators said Tuesday as they continued to investigate...

Italy's extremer heatwave approaches its peak

2023-07-20 00:00:00

ROME, July 19 (ANSA): The extraordinary heatwave that Italy is suffering, its third of the summer, was approaching its peak on Tuesday, with the possibility that temperatures will reach record highs in some cities.Indeed, Rome has set up 28 heat...

Algeria bus crash claims 34 lives

2023-07-20 00:00:00

ALGIERS, July 19 (AFP): At least 34 people were killed when an Algerian passenger bus collided head-on with a commercial vehicle and burst into flames in the country's southern desert Wednesday, officials said.One of the North African country's deadliest road...

Pakistan need 83 runs to win 1st Test against Sri Lanka

2023-07-20 00:00:00

GALLE, Sri Lanka, July 19 (AFP): Pakistan lost three wickets in a tricky 131-run chase on day four of the rain-hit opening Test on Wednesday, after spinners Noman Ali and Abrar Ahmed helped bowl Sri Lanka out for 279.The tourists...

Tigresses suffer 108-run defeat to India in 2nd ODI

2023-07-20 00:00:00

Bangladesh Women's team's aspiration to seal the three-match ODI series with a match to spare was dented after they suffered a thumping 108-run defeat to India in the second match at Sher-e-Bangla National Cricket Stadium in the city on Wednesday,...

'Bangabandhu Summit Squash Tournament 2023'

2023-07-20 00:00:00

Bangladesh Squash Rackets Federation president Lt Col (retd) Muhammad Faruk Khan and Summit Group vice-chairman Latif Khan attend the prize giving ceremony of 'Bangabandhu Summit Squash Tournament 2023' at Army Squash Complex in the city on Tuesday

Hosts New Zealand, Australia kick off 2023's summer of football tonight

2023-07-20 00:00:00

The 2023 Women's World Cup finally gets underway today (Thursday) with the two host nations kicking off the tournament and the summer of footballing festivities, according to CNN Sports.New Zealand starts things off with the co-host taking on Norway in...

Mahmudullah returns to practice quietly

2023-07-20 00:00:00

While the national players were enjoying a break after their series against Afghanistan, Mahmudullah Riyad who was dropped from the national team, was seen starting his training session at the Academy Ground of Sher-e-Bangla National Cricket Stadium in the city...

Two drown in M'singh pond

2023-07-20 00:00:00

MYMENSINGH, Jul 18 (UNB): A man and his grandson drowned while taking bath in a pond in Mymensingh's Bhaluka upazila. The dead are Aynal Haque, 60, and his grandson Habibur Rahman, 12.Locals recovered the bodies from the pond in Baliagara...

Youth stabbed to death over protest against drug abuse

2023-07-20 00:00:00

RAJSHAHI, July 19 (UNB): A 30-year-old man was stabbed to death allegedly by his rivals over previous enmity with some drug traders at Charmajardia in Rajshahi city on Tuesday night. The dead is Abu Syed, a farmer and son of...

Two get life for murder, rape in Satkhira

2023-07-20 00:00:00

SATKHIRA, July 19 (BSS): Two people were awarded life-term imprisonment by the separate courts in two cases in the district on Thursday. District and Session Judge Mohammad Alim Al Raji sentenced one Abdur Rahman (20) to life term imprisonment for...

Access to information a fundamental right

2023-07-20 00:00:00

MYMENSINGH, July 19 (BSS): A social dialogue on practice of good governance and Right to Information (RTI) Act-2009 was held to enhance the empowerment of rural people by ensuring their access to information.In association with the Friedrich Naumann Foundation Bangladesh...

ACC opens probe against IU VC

2023-07-20 00:00:00

ISLAMIC UNIVERSITY, July 19 (UNB): The Anti-corruption Commission (ACC) has started an investigation into the allegations brought against Islamic University (IU) vice-chancellor (VC) Prof Shaikh Abdus Salam for his alleged involvement in teachers' recruitment anomalies at the Finance and Banking...

Pay raise for private sector employees

2023-07-20 00:00:00

According to reports, government employees will get a 10 per cent increment on their basic salary from July this year. But nothing is said about any pay raise in the private sector. Amid the prevailing inflation, private sector employees are...