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Sequoia India asks court to dismiss lawsuit

2022-06-20 00:00:00

NEW DELHI, June 19 (Reuters): Sequoia Capital India has asked a local court to dismiss a defamation lawsuit filed by one of its former general counsels, saying it was an attempt to curb its free speech rights and harm its...

Some shoppers balk at retailers peddling new 'Juneteenth' merchandise

2022-06-20 00:00:00

NEW YORK, June 19 (Reuters): Clothing retailer Kohl's is offering gray, green and red "Juneteenth 1865" tank tops and t-shirts for juniors and boys for $23.99. JCPenney.com hopes to lure shoppers with dozens of wall hangings featuring abstract graphic designs...

ECB won't solve profound debt issues

2022-06-20 00:00:00

FRANKFURT, June 19 (Reuters): The European Central Bank should limit the rise in borrowing costs of more indebted euro zone members but will not solve their debt issues or let budget concerns dictate monetary policy, ECB policymaker Olli Rehn said...

BWDB and IWM arranged a workshop

2022-06-20 00:00:00

Bangladesh Water Development Board (BWDB) and Institute of Water Modelling (IWM) arranged a workshop styled 'Draft Polder Development Plan and Investment Plan' at Brac Inn in the capital recently. Additional Director General (Eastern Region) of BWDB Md Mahbur Rahman was...

Walmart raises wages of pharma workers

2022-06-20 00:00:00

NEW YORK, June 19 (Reuters): Walmart Inc said it would increase the average pay of pharmacy workers to more than $20 per hour and offer more frequent and automatic pay raises as part of a new "progressive wage model" to...

Tesco says Britons buying less to navigate inflation

2022-06-20 00:00:00

LONDON, June 19 (Reuters): Britons are buying less, switching to cheaper products and shopping more often as they try to cope with soaring inflation, supermarket giant Tesco said on Friday, describing the market environment as "incredibly challenging".Pessimism weighing on Britain's...

ONE Bank signed agreement with Flair Technologies

2022-06-20 00:00:00

ONE Bank Limited recently signed an agreement with Flair Technologies Limited to facilitate OK Wallet customers to purchase insurance packages of Bimafy. They can also avail attractive and customized insurance packages like motorcycle, car, travel, accident, health and life insurances...

Citizens Bank PLC entered into an agreement with DBBL

2022-06-20 00:00:00

Citizens Bank PLC (CZB) has entered into an agreement with Dutch Bangla Bank Limited (DBBL) for sharing the services of Rocket, a mobile financial services platform of the latter. Mohammad Iqbal, SEVP & Head of Business, and Md Rezaul Karim,...

Sony, Honda sign JV to sell electric cars by 2025

2022-06-20 00:00:00

Japan's Sony and Honda Motor on Thursday officially agreed to an equally owned joint venture that will start selling electric cars in 2025, reports Reuters.Honda, like bigger rival Toyota Motor, has been slower to shift to electric vehicles (EV) than...

Minister sees no major crop loss due to flood

2022-06-20 00:00:00

Agriculture Minister Dr Abdur Razzaque has said the government has adequate preparation to cope with crop loss caused by the ongoing flood sweeping over the country's northeastern region, reports BSS. "Now there is no major crop in the field. It...

Funding on flexible terms will be challenging: SMEF

FE REPORT | 2022-06-20 00:00:00

Thanking the government for accepting its proposals in the budget, the SME Foundation says small and medium enterprises will be benefited when these take effect.It, however, say funding for entrepreneurs, especially for women, on flexible terms will be challenging.The Small...

Credit Suisse rejects $515m claim

2022-06-20 00:00:00

ZURICH, June 19 (Reuters): Credit Suisse rejected on Sunday a claim by Russian businessman Vitaly Malkin for 500 million francs ($515.62 million) he linked to a former client adviser at the bank who was convicted of fraud.The SonntagsZeitung reported that...

Apple workers at Maryland store vote to unionize

2022-06-20 00:00:00

NEW YORK, June 19 (Reuters): Apple Inc workers in Maryland voted on Saturday to join a union, becoming the first retail employees of the tech giant to unionize in the United States.More than 100 workers in Towson near Baltimore "have...

HSBC Oman to hold talks on possible merger offer from Sohar Int'l Bank

2022-06-20 00:00:00

DUBAI, June 19 (Reuters): HSBC Bank Oman said on Sunday it would hold preliminary talks with local rival Sohar International Bank after the latter last week held out the possibility of a cash-and-shares deal to merge the two lenders.In a...

China's JD.com posts slowest growth

2022-06-20 00:00:00

BEIJING, June 19 (Reuters): Total sales by China's e-commerce giant JD.com rose 10.3 per cent over the 18 days to Sunday during the first major shopping festival since a recent Covid-19 outbreak, the firm said, sharply down from the 2021...

Inflation, subsidy reform hit stomachs in isolated Iran

2022-06-20 00:00:00

TEHRAN, June 19 (AFP): Outside his butchery in the south of Iran's capital, Ali cuts up a sheep carcass for customers who, like him, have seen inflation and subsidy reform devour their purchasing power."My sales have fallen significantly-almost by half,"...

Central banks ramp up battle against runaway inflation

2022-06-20 00:00:00

PARIS, June 19 (AFP): Central banks have ramped up their battle against runaway inflation, a necessary remedy that could have the adverse side effect of tipping countries into recession, analysts say.Just this past week, the US Federal Reserve announced its...

Mohammad Shams-ul-Islam presiding over first meeting of newly-formed senior management team

2022-06-20 00:00:00

Agrani Bank Limited Managing Director and CEO Mohammad Shams-ul-Islam presiding over the first meeting of newly-formed senior management team of the bank at its head office in the city on Sunday

Khulna divisional branch managers' conference of Janata Bank

2022-06-20 00:00:00

Janata Bank Limited Managing Director and CEO Md Abdus Salam Azad speaking as the chief guest at Khulna divisional branch managers' conference of the bank at a local hotel in Jashore recently

TSX posts biggest weekly decline in two years

2022-06-20 00:00:00

TORONTO, June 19 (Reuters): Canada's main stock index fell on Friday to close out its worst week in more than two years, as the energy sector continued its recent losing streak and offset gains by technology and consumer discretionary stocks.The...

Market positioning suggests more pain for equities despite rout, BofA says

2022-06-20 00:00:00

LONDON, June 19 (Reuters): A market trends indicator by BofA Securities fell to zero for the first time since the pandemic-induced mayhem in financial markets in 2020, signalling extreme bearishness as investors dumped credit and crypto assets.Though US stocks confirmed...

Takaful Islami Insurance handed over a cheque

2022-06-20 00:00:00

Qazi Mukarram Dastagir, Chief Executive Officer of Takaful Islami Insurance Limited, handed over a cheque for Tk.49,93,915 to Fakir Akhtaruzzaman, Managing Director of M/s. Fakir Knitwear's Limited, a client of the company against fire insurance claim recently.

News Briefs (2022-06-20)

2022-06-20 00:00:00

Disbursement of dividend Prime Bank: The company has disbursed the cash dividend for the year ended December 31, 2021 to the respective shareholders.United Commercial Bank Ltd: The company has credited the bonus shares for the year ended on December 31,...

TASI suffers its worst decline in six months

2022-06-20 00:00:00

RIYADH, June 19 (ARAB NEWS): Saudi Arabia's main index, TASI sank 4.44 percent to 11,299, its lowest close since last December, while the parallel market, Nomu, declined 3.55 percent to 20,740, at the closing bell on Sunday.This was driven by...

Kushtia branch of Shahjalal Islami Bank re-located at Goni Bhaban

2022-06-20 00:00:00

Kushtia branch of Shahjalal Islami Bank Ltd. was re-located at Goni Bhaban, 01 N S Road, Kushtia Sadar, Kushtia on Sunday. M. Shahidul Islam, Managing Director & CEO of the Bank, formally inaugurated the relocated branch as the Chief Guest.

City Bank perpetual bond makes debut today

FE REPORT | 2022-06-20 00:00:00

Trading of The City Bank Perpetual Bond will commence on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) today (Monday) under the settlement category 'N'.Perpetual bonds are fixed income securities with no maturity date and they are often...

Midland Bank to go public

Siddique Islam | 2022-06-20 00:00:00

Midland Bank Limited (MDB) has planned to raise Tk 700 million through Initial Public Offering (IPO) subscription by the final quarter of this calendar year to expand its capital base, the bank's top executive has said."We're working to issue the...

ICC workshop on International Trade Payment and Finance held

2022-06-20 00:00:00

ICC Bangladesh Vice President A. K. Azad (4th from left) seen at an ICC workshop on International Trade Payment and Finance-Practice, compliance, operations & legal analysis held in Dhaka at a local hotel on Saturday. Also seen in the picture...

Major sectors see price corrections

FE REPORT | 2022-06-20 00:00:00

Stocks slipped into the red on Sunday, snapping a two-day gaining streak, as the cautious investors opted for booking profit on quick-gaining issues.The market opened higher and the key index of the prime bourse rose 35 points within the first...

Qantas, Airbus to invest $200m to develop Australian SAF industry

2022-06-20 00:00:00

DOHA, June 19 (Reuters): Qantas Airways and Airbus said on Sunday they would invest up to $200 million to accelerate the development of a sustainable aviation fuels (SAF) industry in Australia to help meet the airline's goal of lowering carbon...