Thursday, February 26Welcome to the Journalistic, United Kingdom

Asia

Chinese central bank’s $56bn debt purchase fuels speculation of bond market intervention
No Comments
Asia, Business, World News

Chinese central bank’s $56bn debt purchase fuels speculation of bond market intervention

China’s central bank made a significant purchase of Rmb400bn ($56bn) in long-term sovereign bonds on Thursday, a move that traders viewed as a potential precursor to directly supporting bond yields in the country's rapidly expanding debt markets. The People’s Bank of China (PBoC) acquired Rmb300bn in 10-year notes and Rmb100bn in 15-year notes from primary dealers. These notes had just been issued by the Ministry of Finance to refinance maturing bonds. Analysts suggest that this action, which effectively removes these bonds from the market, has heightened speculation that the PBoC may soon intervene in the bond market to avert a sharp correction that could lead to financial instability similar to the losses seen with Silicon Valley Bank. Chinese debt has surged this year as global...
Read More
Search for Woman Who Disappeared in Kuala Lumpur Sinkhole Considered ‘Too Risky’ to Continue
No Comments
Asia, World News

Search for Woman Who Disappeared in Kuala Lumpur Sinkhole Considered ‘Too Risky’ to Continue

The search for an Indian tourist who disappeared after being swallowed by a sinkhole in Malaysia's capital has been halted, as authorities have deemed it too "high risk" to continue. The search has now been stalled eight days after the incident occurred. Vijaya Lakshmi Gali, 48, was walking along a road in Kuala Lumpur on 23 August when the pavement beneath her suddenly gave way. The ground collapsed into an eight-meter sinkhole, causing Ms. Gali to plunge into it and vanish from sight. The shocking incident has since captivated the attention of Malaysia. Despite extensive search efforts, rescuers have found no trace of Ms. Gali except for her slippers, which were discovered during an initial 17-hour search. Rescue teams have been attempting to locate her in the city's sewer system, ...
Read More
Salman F Rahman Reveals Allegations Against Sheikh Hasina’s Family in DB Custody in Bangladesh
No Comments
Asia, World News

Salman F Rahman Reveals Allegations Against Sheikh Hasina’s Family in DB Custody in Bangladesh

News Desk: Former Prime Minister Sheikh Hasina’s Investment and Industry Advisor, Salman F Rahman, who has been in the custody of Dhaka Metropolitan Detective Branch (DB) police since his arrest, has allegedly disclosed startling information during interrogation. According to sources involved in the investigation, Rahman has provided details implicating Sheikh Hasina and her family in large-scale financial misconduct and corruption. Rahman reportedly revealed that members of Sheikh Hasina's family often pressured for the initiation of new projects, knowing they would yield large commissions. He claimed that the Prime Minister was fully aware of the situation and never objected. He further alleged that the extreme greed of Sheikh Hasina’s family has played a significant role in the...
Read More
Dr. Yunus Calls for Revival of SAARC to Boost Regional Cooperation
No Comments
Asia, World News

Dr. Yunus Calls for Revival of SAARC to Boost Regional Cooperation

By International Desk | Chief Advisor of Bangladesh,Professor Muhammad Yunus has urged the revival of the South Asian Association for Regional Cooperation (SAARC) to enhance economic collaboration in the region. During a courtesy meeting with Syed Ahmed Maroof, Pakistan’s High Commissioner to Bangladesh, held on August 27 at the state guesthouse Jamuna in Dhaka, Dr. Yunus emphasized the importance of greater regional cooperation. He stated that SAARC could serve as a model for relations similar to that of the European Union, advocating for unified efforts to promote mutual benefits. In the meeting, Pakistan's High Commissioner stressed the necessity of revitalizing trade, economic ties, and people-to-people connections between the two nations. He highlighted the importance of ...
Read More
Political Stability in Bangladesh: Skepticism Grows Over Professor Yunus as a Mediator Amid Power Struggles
No Comments
Asia, Editorial, World News

Political Stability in Bangladesh: Skepticism Grows Over Professor Yunus as a Mediator Amid Power Struggles

By Mohammed Shahid Miah: Political circles in Bangladesh are skeptical that Professor Muhammad Yunus can resolve the country’s political instability. Currently, the main focus of the political parties is not national development, but rather securing power. This competition for power, rather than serving the nation’s interests, is detrimental to overall progress. Many believe that Professor Yunus, a highly respected figure, could potentially lead an interim government to resolve the ongoing political turmoil. However, student communities and political analysts argue that unless political parties prioritize patriotism and public interest over the pursuit of power, there can be no lasting solution to the country’s political crisis. The Awami League, one of the largest and most po...
Read More
Bangladesh’s Chief Justice Resigns Amid Mass Protests
No Comments
Asia, World News

Bangladesh’s Chief Justice Resigns Amid Mass Protests

Report by Mohammed Shahid Miah: On August 10, 2024, Bangladesh's Chief Justice, Obaidul Hassan, officially resigned from his position. His resignation follows massive protests outside the Supreme Court in Dhaka, where students and lawyers gathered to demand his departure. The protestors issued an ultimatum, giving the Chief Justice one hour to step down. As tensions escalated, Obaidul Hassan decided to resign, citing concerns for safety. The resignation letter was promptly submitted to the Ministry of Law, with Asif Nazrul, an advisor to the ministry, confirming that it would be forwarded to the President for swift action. Sources indicate that five other Justices from the Appellate Division—Justices Borhan Uddin, M Enayetur Rahim, Md. Abu Zafar Siddique, Jahangi...
Read More
Dr. Muhammad Yunus Takes Helm of Bangladesh’s Interim Government Amid Political Crisis
No Comments
Asia, World News

Dr. Muhammad Yunus Takes Helm of Bangladesh’s Interim Government Amid Political Crisis

Dr. Muhammad Yunus, a Nobel Peace Prize winner, has been appointed as the Chief Adviser of Bangladesh’s interim government. This position, akin to that of a prime minister, was entrusted to him following the resignation of Prime Minister Sheikh Hasina on August 5, 2024. Hasina's resignation came in response to a powerful student-led protest that demanded her exit, eventually gaining the backing of the military. The interim government under Dr. Yunus was formed in the aftermath of intense political unrest. His appointment has attracted widespread international attention, with some analysts speculating that foreign interests, particularly from the United States, may have played a role in his rise to this position. Known for his impartial stance and past conflicts with Hasina’s administrat...
Read More