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Bourses are under grip of extortions

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DSE Bourses

The country’s Bourses are under the grip of extortion by the controversial Canadian-based Citizen TV, which spreads propaganda against important people of the government and important organizations of the state.

This cycle based on Facebook-YouTube has been demanding large sums of money from various institutional investment institutions and big investors in the bourses.

The blamed members have been found to have extorted money from different people in the past. Just recently extorted 5 crore takas from a big industrial group. After the matter went viral on Facebook, they were demanding this extortion as compensation. The question has arisen – through which means this money is taken abroad by extortion from the nation. Controversial Citizen TV has been blamed for laundering huge amounts of money from the country through money laundering.

There is proof against this cycle of spreading controversial and scam data on Facebook and YouTube about important people of the nation. The country’s prime minister, former and current army chief, former police chief (IGP) are not left out of these rumors.

This time the circle is trying to destabilize the bourses of the country without getting subscription. The extortionist gang has recently published a caricature of Prof. Shibli Rubayat-Ul-Islam, chairman of the Bangladesh Securities and Exchange Commission (BSEC), the regulatory body of the stock market, without receiving the demanded subscription. A satirical picture was posted on the Facebook page named Nagrik TV on Thursday, October 20, around 8 pm. It is known that just recently, this fake Facebook page called Nagarik TV is spreading rumors with the connivance of a member engaged in destabilizing the stock market. Demands have been raised in various circles to find the local agents of this gang and bring them under the law.

Titu Rahman and Nazmus Saqib are the directors of these Facebook-YouTube pages and channels spreading rumors. Recently, various government agencies have identified 15 Bangladeshi cyber terrorists located in various countries of the world, who are indulging in terrible propaganda against Bangladesh while just sitting abroad. They are lying in various ways about the state, various individuals and institutions of the government. Nazmus Shakib’s involvement was also found in this investigation.

When asked about the misinformation, BSEC chairman Professor Shibli-Rubayat-Ul Islam, who is currently in Morocco, told Orthosongbad that a team has been spreading false and baseless data about the bourses of the country which results, I have received complaints from big investors demanding subscriptions with different identities.

It is known that the gang posts sarcastic pictures on its Facebook page before spreading slander or rumors against an individual or institution. After the picture was posted, the people associated with the concerned persons and institutions demanded the subscription by phone. And if the subscription is not paid, they threaten to continue disinformation. From time to time, the Facebook-YouTube-based gang has been demanding huge sums of money from the big investors of the stock market. Following this, cooperative officer Abul Khair called Hiro and demanded a contribution of five crore taka. The subscription was demanded by a call from a foreign number last Friday evening. Threats to continuously upload various negative content if the subscription is not paid.

When asked, Abul Khair Hiru told Orthosongbad that the call came from an unknown foreign number at 7 pm. Threatened to spread false propaganda against me if I don’t pay Tk 5 crore. I asked for the name and identity of the caller several times, but he did not give me the identity. Just said call from Citizen TV. Later, I found out that this is not Bangladesh Citizen TV, but the controversial Facebook-YouTube-based Nagorik TV spreading fake information and rumors which has previously been conspiring against the state by spreading propaganda against important individuals and institutions abroad.

Attempts were made to contact the Facebook-YouTube-based Nagorik TV but they could not be found.

 

 

 

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Index Values Experience Rollercoaster Ride Amidst Dull Turnover

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turnover dse index bourse stock indices

Dhaka Stock Exchange DSE, Bourse on the last working day of the week, March 28th, ended with a hike in Indices and drops in Turnover from the previous working session. This information is known from DSE sources.

411 crore 8 lakh taka shares were traded on this day. 127 crore 71 lahks taka less tradings were done in DSE today compared to the previous workday, 27th March, Shares worth Tk 538 crores 79 lakh shares were traded last time, Wednesday.

The benchmark DSEX added 15.64 points or 5,778 The Shariah-based index DSES gained 2.19 points or 1,254, and the blue-chip index DS30 decreased by 0.98 points or 2,011.

Of the issues traded, 221 advanced, 120 declined and 54 remained unchanged.

IPDC Finance Limited ranked top gainer on DSE, the share price increased by Tk 2.30 paisa or 9.79 percent. On this day, the share was last traded at Tk 25.80 paisa.

Mercantile Islami Insurance PLC ranked top loser on the DSE, the share price dropped by Tk 1.30 paisa or 3.90 percent. On this day, the share was last traded at Tk 31.70 paisa.

DSE topped on trade is Central Pharmaceuticals Limited 24 crore 48 lakh takas of company shares have been traded.

A total of 36 companies’ shares were traded in the Block on the Dhaka Stock Exchange, 37lakh 44 thousand 909 shares of the companies were traded. The financial value of which is 20 crore 48 lakh taka.

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Asian Markets Navigate Uncertainty Over Fed Rate Cuts

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Asian Markets

Asian investors proceeded cautiously on Thursday following remarks from a Federal Reserve official suggesting a potential delay or reduction in interest rate cuts. Meanwhile, the yen maintained its gains after briefly reaching a 34-year low the previous day.

As a recent market rally begins to lose steam, traders are reassessing the US monetary policy outlook. Above-forecast inflation and economic data have led some to question whether the central bank can adhere to its projection of three rate cuts this year.

Confidence has been further shaken by recent comments from Fed officials. Atlanta president Raphael Bostic reiterated his stance of expecting only one rate cut this year, warning against hasty actions that could disrupt the market. Governor Lisa Cook also urged caution among decision-makers.

The latest remarks came from Fed governor Christopher Waller, who suggested a reduction in the number of rate cuts or delaying them in response to recent data. Waller noted progress in reducing inflation but expressed concern over slowed or stalled progress in recent months.

His comments preceded the release of the personal consumption expenditures (PCE) index, expected to show a slight increase, on Friday. Despite concerns, all three main indexes on Wall Street saw gains, with the S&P 500 reaching another record high.

In Asia, markets were mixed, with Hong Kong, Shanghai, Sydney, and Wellington posting gains while Singapore, Seoul, Taipei, and Jakarta declined. Tokyo saw a decline of over one percent as the yen stabilized after hitting its weakest level since 1990 against the dollar.

A Bank of Japan official’s comments warning of continued accommodative monetary policy contributed to the yen’s slide. Speculation has arisen regarding potential intervention to support the currency, with Vice Finance Minister Masato Kanda expressing readiness to take necessary measures.

Market analysts anticipate heightened anticipation for Bank of Japan intervention, particularly in light of recent yen fluctuations. Concerns persist over potential market disruptions in the absence of intervention before the weekend.

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Asian Tiger Growth Fund releases Q2 Financials

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Asian Tiger Growth Fund

One of the listed funds, Asian Tiger Sandhani Life Growth Fund discloses its financial reports for the second quarter, (October– December 23).

The company’s earnings per unit (EPU) loss Tk 0.01 paisa in Q2 of the current financial year (October – December 23). EPU was loss Tk 0.17 paisa during the same period last year. NAV per unit at market price was Tk. 10.20 as on December 31, 2023 and cost price was Tk. 11.07 as on December 31, 2023.

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