Bangla to stakes in Dhaka Stock Exchange to China; rejects India's offer

Agencies
February 21, 2018

Dhaka, Feb 21: Bangladesh has said it will sell 25 percent stakes in the Dhaka Stock Exchange (DSE) to a Chinese consortium, rejecting a rival bid from India's National Stock Exchange, Nasdaq of the US and others.

Bangladesh's premier bourse directors had decided to accept the Chinese consortium's proposal on February 10 as it looked acceptable to them considering financial and technological aspects, bdnews24 reported.

They gave the final nod to the proposal by the consortium of Shenzhen Stock Exchange and Shanghai Stock Exchange at a meeting of the board last evening, the DSE Managing Director KAM Majedur Rahman told reporters here.

They would "soon" send the proposal to the regulators, the Securities and Exchange Commission or SEC, for endorsement, he added.

Shanghai and Shenzhen stock exchanges are among the top bourses in the world boasting USD 3.5 trillion and USD 2.2 trillion market capital, respectively.

The market capital of the DSE is over USD 51.42 billion.

Another consortium of India's National Stock Exchange, Frontier Bangladesh and Nasdaq stock market of the US took part in the bidding to become the DSE's partners.

A DSE official earlier said that the Mumbai-based National Stock Exchange had offered 15 taka (USD 0.18) per share to buy 25.1 percent shares of the DSE.

Officials said the Chinese consortium has proposed buying 25 percent stakes into the DSE for Tk 9.9 billion (USD 122 million) at Tk 22 per share. In its proposal, the consortium mentioned it will spend over Tk 3 billion (USD 37 million) to give the DSE a technological upgrade.

The DSE is trying to lure foreign investment as part of its demutualisation process to get technical and technological support from the strategic partners to further modernise the exchange.

According to the 2013 demutualisation scheme, 25 percent of the 1.8 billion shares of the DSE will be sold to strategic partners, 35 percent to small investors while 40 percent will be with the Trading Right Entitlement Certificate or TREC holders.

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News Network
April 28,2024

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Students in Paris blocked access to a campus building at a French university on Friday, as pro-Palestine demonstrations reach Europe.

The students occupied the central campus building of the Paris Institute of Political Studies, known as Sciences Po, and dozens of others blocked its entrance, echoing protest action at American universities.

Students inspired by Gaza solidarity encampments at campuses in the United States blocked access to a campus building at the prestigious French university on Friday.

They blocked the entrance with trash cans, wooden platforms and other items.

The occupation of the Paris university campus came after police broke up a separate protest at the university’s amphitheater outside one of its Paris campuses.

Scores of student protesters gathered at the building’s windows, chanting slogans and holding placards reading “We are all Palestinians,” in defiance of administrators who students say called the police on their peers two days earlier.

Pro-Palestinian student protesters had occupied the amphitheater outside one of the university’s Paris campuses on Wednesday evening.

The US-style student protests, which began over the months-long Israeli regime’s genocidal war against Palestinians in the besieged Gaza Strip, kicked off in the United States and have now spread to European capitals as well as Australia.

In the German capital Berlin, several people were arrested as police violently cleared a camp of Gaza war protesters at the German parliament.

Pro-Palestinian activists are demanding a permanent ceasefire, an end to the Israeli atrocities, and an arms embargo of the Tel Aviv regime.

The Israeli regime launched the war on Gaza on October 7 last year. The genocidal war has killed more than 34,356 Palestinians, most of them women and children.

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News Network
May 3,2024

Bengaluru: In a shocking revelation, a former member of Hassan Zilla Panchayat (ZP) has accused incumbent JD(S) MP Prajwal Revanna of raping her multiple times over three years and videographing the alleged crime.

A case was registered by the Criminal Investigation Department (CID) based on the statement by the 44-year-old survivor on Wednesday, May 1.

According to the First Information Report (FIR), the woman claimed that when she was a ZP member she used to visit the MLAs and MPs for various development works.

In one such instance in 2021, she met Prajwal seeking his help to get hostel seats for some female students at a local college. The woman, in her statement, said that since the MP was busy, she was asked to meet him the next day.

“The following day I visited the MP at his office and the MP's quarters in Hassan. The staff present there told me to wait on the first floor as there were many others in the hall. Prajwal spoke to some of the women waiting there, spoke with them and sent them off until I was the only one left,” the woman alleged.

As per the survivor, the MP then called her inside a room and she obliged.

“He held my hand, pulled me inside and locked the door. When I asked him why was he closing the door, he told me nothing would happen and made me sit on the bed. He said my husband should talk less and warned me of the consequences. He also said that because of my husband, his mother, Bhavani Revanna, missed the MLA ticket. He told me that if my husband wants to grow politically, I should listen to him [Prajwal],” the woman alleged.

Next, Prajwal allegedly told the woman to lie down on the bed and undress. When the woman refused and said that she would shout, Prajwal allegedly threatened her that he had a gun and warned of dire consequences for her and her husband.

The woman alleged that Prajwal took out his mobile phone and then raped her.

“He raped me and sexually assaulted me and recorded the act on his mobile phone,” the woman alleged. “He threatened to leak the video if I ever spoke about it and told me to be there whenever he wanted. After that, he used to video call me frequently, ask me to be naked during the call and raped me in multiple instances.”

The woman claimed that she was scared and did not make the incident public and chose to come forward after she learnt of the Special Investigation Team (SIT) set up by the Karnataka government to probe the alleged Hassan sex scandal.

A case was registered under Sections 376(2)(n) (commits rape repeatedly on the same woman), 506 (criminal intimidation), 354A(1)(physical contact and advances involving unwelcome and explicit sexual overtures), 354B (assault or use of criminal force to woman with intent to disrobe) and 354C (voyeurism) of the Indian Penal Code (IPC) and 66E (violation of privacy) of the Information Technology (IT) Act.

Prajwal is also accused in a sexual harassment case along with his father, Holenarasipur MLA HD Revanna, registered at the Holenarasipur police station in Hassan on April 28. 

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News Network
May 3,2024

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US riot police have dismantled an anti-war and pro-Palestinian protest camp at the University of California at Los Angeles, a day after it was attacked by pro-Israel supporters.

At least 200 pro-Palestine protesters were arrested during the pre-dawn raid, led by a phalanx of California Highway Patrol officers carrying shields and batons, early on Thursday.

The protesters tried to block the officers' advance by their sheer numbers, shouting "push them back", while hundreds of pro-Palestinian activists who assembled outside the tent city were heard chanting "Shame on you" at the police.

According to estimates of local television station KABC-TV, 300 to 500 protesters were hunkered down inside the camp, while about 2,000 more had gathered outside the barricades in support.

The raid took place about a day after police watched on as pro-Israel groups violently attacked the encampment. Late Tuesday night, masked counter-demonstrators mounted a surprise assault on the camp, using sticks to beat the peaceful activists.

The assault went on for three hours into early Wednesday morning until police intervened and restored order.

The authorities’ slow response drew wide criticism from political leaders, including a spokesperson for California Governor Gavin Newsom who said "limited and delayed campus law enforcement response" to the unrest is "unacceptable."

The Pro-Palestine demonstrations began at Columbia University in New York City on April 17, and have spread across other campuses in the US in a student movement unlike any other this century.

US police arrested about 2,200 people during pro-Palestinian protests at college campuses across the country in recent weeks, the Associated Press reported.

A tally by the news agency recorded at least 56 incidents of arrests at 43 different US colleges or universities since April 18.

The students are calling for an end to Israel’s genocidal war on Gaza and demanding schools divest from companies that support the Israeli regime.

Israel launched the war on Gaza on October 7 after the Palestinian resistance movement Hamas waged the surprise Operation Al-Aqsa Storm against the occupying entity in response to the Israeli regime's decades-long campaign of bloodletting and devastation against Palestinians.

Tel Aviv has also blocked water, food, and electricity to Gaza, plunging the coastal strip into a humanitarian crisis.

Since the start of the offensive, the Israeli regime has killed at least 34,596 Palestinians and injured 77,816 others.

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