Corporate
-
For ‘inadequate’ trading reporting, JPMorgan was fined over $350 million.
Mar 16, 2024US regulators fined US bank JPMorgan Chase almost $350 million on Thursday for what they described as insufficient trading reporting and surveillance. The US Federal Reserve and the Office of the Comptroller of the Currency (OCC)... -
Padma Bank to merge with Exim Bank
Mar 16, 2024The first of its kind in Bangladesh, Padma Bank will combine with the Shariah-based EXIM Bank (Export Import Bank of Bangladesh). At the board meeting of Exim bank this morning, the decision was made, and it... -
Bangladesh Bank plans to merge 10 banks in a year
Mar 12, 2024Executive Director and Spokesman for Bangladesh Bank (BB), Mezbaul Haque, announced today that the regulator intends to combine ten banks in less than a year. “Following the merger, the weak bank can become the strong bank... -
National Bank, Mastercard launch 1st ever prepaid Umrah Card
Mar 11, 2024In a city hotel, National Bank Limited (NBL) and Mastercard introduced the first multi-currency prepaid Umrah Card in Bangladesh. The card was unveiled by Dr. Syed Ferhat Anwar, Chairman of National Bank Limited. The bank’s independent... -
PRAN-RFL to set up another industrial park in Natore
Mar 7, 2024The nation’s first agro-processing company, PRAN-RFL Group, is establishing a second industrial park in Natore. The group intends to establish fish processing, mustard oil, noodles, and spice factories there in an effort to employ about a... -
Meta says Facebook and Instagram working again after the outage
Mar 6, 2024Following hours-long failures that disrupted its platforms across multiple countries, Facebook’s parent company Meta declared that they had “resolved the issue”. The messaging service Whatsapp, which is owned by Meta, appears to be unaffected by the... -
Sohail Majid joins Air Astra as its Chief Commercial Officer
Mar 3, 2024The youngest private airline in the nation, Air Astra, announced today that Sohail Majid has been named Chief Commercial Officer. According to a news release, he has held executive positions at US Bangla Airlines, Novoair, Regent... -
Disney and India’s Reliance agree to merger
Mar 2, 2024Reliance Industries of India and Walt Disney’s local unit have inked a “binding pact” for a merger, Bloomberg News reported on Monday. This development represents a significant upheaval for the multibillion dollar entertainment sector in India.... -
Key body in Bank of England gets first female majority
Mar 1, 2024Thanks to economist Clare Lombardelli’s nomination on Thursday, the monetary policy committee of the Bank of England will have a majority of women for the first time. Lombardelli will be the fifth woman on the nine-person... -
HSBC reports ‘record profit’ of $30.3 bn in 2023
Feb 22, 2024The financial behemoth HSBC announced on Wednesday that it had made a “record profit” in 2023 due to a nearly eighty percent increase in pre-tax income. The bank also announced more share buybacks. Although higher interest...
