Bangladesh Financial News

Lawlessness prevails in Bangladesh as Jamaat-e-Islami and radicals run the show with minorities being lynched of blasphemy and Vice Chancellors, Pro-VCs and Supreme Court judges forced to resign. While Bangladesh Parliament has been dissolved illegally, all Supreme Court judges and many High Court judges including the Chief Justice and Attorney General were forcibly removed, according to Constitutional experts on Bangladesh. As many as 33 permanent secretaries and 11 Ambassadors posted in various countries have been arbitrarily removed, according to reports.

Bangladesh's Chief Advisor Muhammad Yunus in an interview with PTI on Thursday attacked former Prime Minister Sheikh Hasina, who is seeking asylum in India. Younus, who is a Nobel laurate, said that the former prime minister had to keep quiet if India was to «keep her until Bangladesh wants her back». This comes after Hasina made political statements, which Yunus termed «unfriendly». «No one is comfortable with her stance there in India because we want her back to try her. She is there in India and at times she is talking, which is problematic. Had she been quiet, we would have forgotten it; people would have also forgotten it as she would have been in her own world. But sitting in India, she is speaking and giving instructions. No one likes it,» he said.

Coca-Cola and rival PepsiCo spent hundreds of millions of dollars over decades building demand for their soft drinks in Muslim-majority countries including Egypt to Pakistan. Now, both face a challenge from local sodas in those countries due to consumer boycotts that target the globe-straddling brands as symbols of America, and by extension Israel, at a time of war in Gaza. In Egypt, sales of Coke have cratered this year, while local brand V7 exported three times as many bottles of its own cola in the Middle East and the wider region than last year. In Bangladesh, an outcry forced Coca-Cola to cancel an ad campaign against the boycott. And across the Middle East, Pepsi's rapid growth evaporated after the Gaza war started in October. Pakistani corporate executive Sunbal Hassan kept Coke and Pepsi off her wedding menu in Karachi in April. She said she didn't want to feel her money had reached the tax coffers of the United States, Israel's staunchest ally.

Rishabh Pant's red-ball return will be closely monitored but the national selectors will also trace suitable backup options to frontline stars when Duleep Trophy, which preludes an important Test season, begins across Bengaluru and Anantapur on Thursday. Pant, who returned to white-ball formats after that horrific car crash, is yet to play in a longer-duration match. His last red-ball outing was against Bangladesh in December 2022. Now, he will turn out for Abhimanyu Easwaran-led Team B against Shubman Gill-captained Team A at the Chinnaswamy Stadium. Satisfying his outings in the shorter versions were, but this four-day tournament offers him a unique challenge — batting and 'keeping for an undefined number of overs.

Raymond shares surged 8% over two days, reaching a high of Rs 2,179 on the BSE on Wednesday, ahead of the listing of its lifestyle business, Raymond Lifestyle (RLL) on the stock exchanges on Thursday. The brokerages also see this as a transformative move for the company which is synonymous with legacy brands such as Park Avenue, Raymond, Parx, and ColorPlus.

Assam police while trying to enter Karimganj from neighbouring Tripura. «Our @assampolice personnel are maintaining constant vigil along the Indo-Bangladesh border and alert to thwart infiltration attempts,» the chief minister posted on 'X'. «The following Bangladeshi nationals were apprehended and pushed back in the wee hours- Afroja Jahirul Sardar, Tumpa Haque, Ridoy Sk, Akhi Sk and Lakhipur Akhtar,» he added.

Bangladesh made history by defeating Pakistan by 6 wickets in the second Test of the two-match series, securing a remarkable 2-0 series whitewash. This victory has dramatically reshaped the World Test Championship (WTC) 2023-25 points table, further diminishing Pakistan's chances of reaching the final at Lord's in June 2025. With this series loss, Pakistan has plummeted to 8th place in the WTC standings, just above the last-placed West Indies. Pakistan's disappointing performance in the current WTC cycle has seen them win only two of their seven Test matches, leaving them with 16 points—the fewest among all nine teams—and a PCT of just 19.05. Bangladesh's triumph has propelled them to 4th place in the WTC table. With three wins and three losses, they have accumulated 33 points and a PCT of 45.83. Prior to this series, Bangladesh was in 6th place but has climbed two spots due to their impressive performance against Pakistan.

The Congress party today said that protests in Kenya over Adani Group's proposed takeover of Nairobi airport is a matter of grave concern as it could turn into anger against India. «The proposed takeover of Nairobi airport by the Adani Group has sparked widespread protests in Kenya. The Kenya Aviation Workers Union has called for a strike to protest. This is a matter of grave concern for India, as the non-biological prime minister's friendship with Adani is now world-famous. The ongoing protests there could easily turn into anger against India and the Indian government,» Congress leader Jairam Ramesh said in a post on social network X (formerly Twitter).

Rawalpindi Cricket Stadium, thanks to the rain Gods here for not pouring down. The Tigers chased down a target of 185 in the second innings on the fifth day of the second test to clean sweep the series 2-0. At lunch on the fifth day of the second Test in Rawalpindi, Bangladesh reached 122-2, needing just 63 more runs for victory.

Raymond shares surged 9% to hit a high of Rs 2,182 on the NSE on Tuesday ahead of the listing of its lifestyle business which is expected this week. Brokerages see this as a transformative move for the company which is synonymous with legacy brands such as Park Avenue, Raymond, Parx and ColorPlus. Brokerages like Motilal Oswal and InCred which were part of the investors’ meet remain optimistic about the company's prospects.

Sheikh Hasina resigned and fled to India, is awash with anti-India sentiment. That's because Hasina, who has been friendly with India, has taken shelter in India and an Islamist opposition including the main opposition party, the Bangladesh Nationalist Party (BNP), and Jamaat-e-Islami feel empowered after Hasina's ouster. In fact, the BNP, which used to provide launch pads to anti-India terrorists during its rule, had started an «India Out» campaign months before Hasina's ouster. The BNP was understood to have taken a cue from Maldives ruling party that launched the “India-Out” campaign to win presidential polls last year. While Maldives President Md Muizzu’s “India Out” campaign was allegedly backed by China, the BNP is seen to be backed by Pakistan and many Western countries. While the interim government has said it will cooperate with India, anti-India sentiment has only increased along with attacks on the Hindu minority. Recently, one of the advisers to the interim govt, Mohammad Nahid Islam, blamed India for floods in Bangladesh. Islam alleged that flooding of districts on the eastern borders of Bangladesh had been caused by the opening of Dumbur dam upstream of the Gumti river in Tripura. India refuted his allegations.

homeless, The Daily Star reported. At least 59 people died, and over 53 lakh people in 11 districts were affected by the flood. Many people have been left without homes, and low-income families, especially farmers, have lost not only their houses but also their livelihoods due to the destruction of crops and ponds, as per The Daily Star.

Lenders to debt-ridden Reliance Capital Ltd (RCAP) have alleged that Hinduja Group firm IIHL is indulging in delaying tactics, resulting in slowdown in implementation of the resolution plan. Mauritius-based IndusInd International Holdings Ltd (IIHL) emerged as a successful bidder for acquisition of Reliance Capital. The NCLT Mumbai on February 27, 2024, approved IIHL's Rs 9,861-crore resolution plan for the debt-ridden financial firm. According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought.

Bangladesh after the fall of the Sheikh Hasina-led government on August 5, according to a minority organisation in the violence-hit nation. The Bangladesh Chhatra Oikya Parishad, the student wing of Bangladesh Hindu Buddhist Christian Oikya Parishad, said this at a press conference on Saturday, The Daily Star newspaper reported. The organisation's coordinator, Sajib Sarkar, said in the students' violence that ensued for days following the ouster and fleeing of 76-year-old prime minister Hasina, minority teachers across the country faced physical assault, and at least 49 of them were forced to resign. However, 19 of them were reinstated later, the report quoted him as saying.

The downfall of former Bangladeshi prime minister Sheikh Hasina unfolded faster than almost anyone expected. In early July, students took to the streets in its capital Dhaka and other cities to protest the country’s job-quota system that reserved 30% of civil-service positions for veterans of the 1971 War of Independence and their descendants. Police were ordered to quell the unrest, and given permission to shoot if needed.

Bangladesh, the student community, which led the people's uprising that resulted in the ouster of Sheikh Hasina, is channelling its revolutionary zeal into spearheading flood relief efforts for millions affected by the calamity. «This isn't just about relief; it's about making a difference, just like we did during the Monsoon Revolution,» said Rafiq, a student at Dhaka University, as he and fellow students formed a human chain at the heart of the campus, passing sacks of rice and other supplies hand to hand to load onto trucks bound for flood-stricken regions of Bangladesh. The student community across Bangladesh has risen to the occasion, demonstrating their ability to lead and mobilise resources in a time of national emergency. The recent floods, which have claimed several lives and affected nearly 5 million people, have spurred a remarkable wave of student-led relief efforts, transforming their recent revolutionary fervour into a crucial force for recovery.

Bangladesh, officials announced on Saturday. The Disaster Management and Relief Ministry, while giving out updates on the flood situation, said the highest deaths were reported from Cumilla and Feni districts, both adjoining the border with Tripura in India on the northeast side, with 14 and 23 deaths respectively. Monsoon rainfall-triggered floods in deltaic Bangladesh and upstream Indian regions have wreaked havoc in the country for about two weeks resulting in deaths and displacement of humans and cattle, and loss of property posing a huge administrative challenge to the newly installed interim government amid a political transition. Bangladesh is crisscrossed by more than 200 rivers, 54 of them being trans-boundary rivers with upper riparian India, in four major basins. A depression (a system that brings in copious rainfall) in the Bay of Bengal last week had led to the current deluge with rivers in two basins — the north-eastern Meghna Basin and south-western Chattrogram Hills Basin — witnessing widespread flooding.

Awami League leader Ishaque Ali Khan Panna, whose body was found in Meghalaya was handed over to Bangladeshi authorities by the Meghalaya government on Saturday. A senior Meghalaya government official said that the Bangladesh government has sent an official to take back the body of Panna from the Khliehriat Civil Hospital in Meghalaya’s East Jaintia Hills district. The body of the Awami League leader was handed over to the Bangladeshi authorities, in the presence of Bangladesh Police and Border Guard Bangladesh (BGB) personnel.

Ministry of External Affairs (MEA) of India refuted allegations from a CNN report that suggested India's involvement in the recent flood situation in Bangladesh. MEA spokesperson Randhir Jaiswal criticized the report, calling its narrative «misleading» and «factually not correct.» The MEA maintained that excessive rainfall, rather than any actions taken by India, was responsible for the flooding. «We have seen the CNN report on the flood situation in Bangladesh. Its narrative is misleading and suggests that India is somehow responsible for the floods. This is factually not correct and ignores the facts mentioned in the press releases issued by the Government of India clarifying the situation,» Jaiswal said. Jaiswal also criticized the CNN report for ignoring the existing communication between India and Bangladesh regarding water resources management.

Awami League leader of Bangladesh, Ishaque Ali Khan Panna. His body was recovered from a betel nut plantation in East Jaintia Hills district. The district is in close vicinity of the Indo-Bangladesh border. East Jaintia Hills SP Giri Prasad M said that investigation was on into the matter. “On the evening of 26th August 2024, one unknown male dead body in a semi-decomposed state was found lying at the betel nut plantation located in the Dona Bhoi Area of East Jaintia Hills. One Bangladesh passport bearing the name of Ishaque Ali Khan Panna was recovered from the dead body,” the SP said in a statement. “Later, after observing all the formalities at the PO, the dead body was shifted to Civil Hospital Khliehriat for post-mortem examination.

Nagaland deputy CM Y Patton on Thursday told the state assembly that there is no report of influx of illegal Bangladeshi immigrants following the political crisis in the neighbouring country. Patton said this while responding to NPF MLA Achumbemo Kikon raising concern in the zero hour of state assembly on possible influx following the political crisis in Bangladesh.