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Market cap jumped but index fell: Was it a technical error?

Although the prime index of the Dhaka bourse plummeted 70 points, or 1.17 per cent, the market cap surged by Tk 277 billion or 4 per cent on Monday, from the day before. Analysts described the data as "unusual" and suspected "technical error" in the calculations.The common trend is when...

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Regulator steps in to dissuade Sea Pearl, ICB from legal fight

Years of non-payment by Sea Pearl Beach Resort & Spa to the state-run Investment Corporation of Bangladesh (ICB) against bonds worth Tk 3.25 billion has led to a legal tussle between the parties. To help recover the money, the securities regulator accepted a proposal that 20 per cent convertible bonds...

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Bank Asia Limited signed a participation agreement with the Bangladesh Bank to access the central bank's

Bank Asia signs participation agreement with BB Bank Asia Limited signed a participation agreement with the Bangladesh Bank to access the central bank's refinance scheme offering a credit guarantee facility. This facility aims to support women entrepreneurs in small businesses and those in the agro-processing industry. The agreement was signed...

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The 124th meeting of Modhumoti Bank's executive committee (EC) was held virtually on Saturday. EC Chairman Barrister Sheikh Fazle Noor Taposh

Modhumoti Bank holds executive committee meetingThe 124th meeting of Modhumoti Bank's executive committee (EC) was held virtually on Saturday. EC Chairman Barrister Sheikh Fazle Noor Taposh chaired the meeting. Managing Director of Sharmin Group Mohammad Ismail Hossain, Chairman of Labib Group Salahuddin Alamgir, Chairman of Meghna Group Mostafa Kamal, Chairman...

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Major Gulf bourses up on strong oil prices

Major stock markets in the Gulf rose on Monday led by the Abu Dhabi benchmark on higher oil prices, while shares in Egypt continued to ease for a second straight session, reports Reuters.Oil prices - a catalyst for the Gulf's financial markets - gained, as attacks on Russian energy facilities...

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Exim Bank and Padma Bank signed a memorandum of understanding (MoU) on Monday to initiate a merger.

Padma Bank merges with Exim BankExim Bank and Padma Bank signed a memorandum of understanding (MoU) on Monday to initiate a merger. The signing ceremony was held at the Bangladesh Bank, as the central bank Governor Abdur Rouf Talukdar was the chief guest. Exim Bank Managing Director Mohammad Feroz Hossain...

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World shares cheer China data, as central banks line up

LONDON/SYDNEY, March 18 (Reuters): World shares firmed on Monday as Chinese data beat expectations, while investors looked to navigate a minefield of central bank meetings this week that could see the end of free money in Japan and a slower glide path for US rate cuts.European stocks ticked up 0.1...

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Major brokerages don't expect Fed rate cut till June

Some major brokerages expect the US Federal Reserve to lower interest rates in June, months later than what markets had predicted earlier this year, as sticky inflation fanned concerns of cutting rates too soon, reports Reuters.Fed minutes of the Jan. 30-31 session published last month signaled broad uncertainty among the...

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Europe's start-ups turn to increasingly complex debt deals as cash dries up

LONDON, March 18 (Reuters): European venture capital-backed companies are signing up to increasingly complex convertible debt deals which risk giving investors more control or bigger payouts further down the road, people involved in the deals told Reuters.Ultra-low interest rates allowed growing companies to complete equity funding rounds at sky-high valuations...

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Tanzania team in city to learn about e-GP system

To learn about the successful implementation of the electronic government procurement (e-GP) system in Bangladesh, a 12-member delegation from the Republic of Tanzania is now in Dhaka and visited the office of Bangladesh Public Procurement Authority (BPPA) on Monday.During their four-day stay in Dhaka, the Tanzanian team will exchange insights...

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Rivals Nissan and Honda sign MoU on EV partnership

TOKYO, Mar 18 (Reuters): Japanese auto rivals Nissan Motor and Honda Motor are considering a strategic partnership to collaborate on producing key components for electric vehicles and artificial intelligence in automotive software platforms, the companies said Friday.The potential partnership could help the two develop economies of scale in producing EVs...

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