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Sovereign Analyst Creative project on Personal finance, Innovation & Philosophy. Our team members find human life very beguiling, fascinating, and riveting.

The implications of human life extend themselves to many branches of nature, societal constructs, and the world itself. This project is about discovering those implications and conjecture how people deal with finance, philosophy, and the economics of the world.

06/12/2022

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Kellogg Co. the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, sn...
21/06/2022

Kellogg Co. the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods.

Kellogg's which also owns and MorningStar Farms, the plant-based food maker, said Tuesday that the spinoff of the yet to be named cereal and plant-based foods companies should be completed by the end of next year. The snack business is to retain the same name.

"These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities," Kellogg CEO Steve Cahillane said in a statement. "In turn, each business is expected to create more value for all stakeholders, and each is well positioned to build a new era of innovation and growth."

The Ministry of Disaster Management and Relief has allocated Tk2.76 crore in cash, 1,720 tonnes of rice and 58,000 packe...
20/06/2022

The Ministry of Disaster Management and Relief has allocated Tk2.76 crore in cash, 1,720 tonnes of rice and 58,000 packets of dry food for flood affected people in various regions of the country.

The allocations were granted as humanitarian help from May 17 to June 18, according to a news statement issued by the government on Saturday (18 June).

Sylhet district has received Tk1.13 crore in cash, 1,000 tonnes of rice, and 20,000 packs of dry and other food items among the allocations.

The district of Sunamganj would receive Tk98 lakh in cash, 520 tons of rice, and 12,000 packets of dry and other food products.

Apple and Major League Soccer have agreed to a broadcasting rights package worth $2.5 billion over ten years, a signific...
15/06/2022

Apple and Major League Soccer have agreed to a broadcasting rights package worth $2.5 billion over ten years, a significant investment in live sports by the internet giant that will put the North American football league's events on its streaming service.

All live games will be broadcast on a special MLS streaming service available on the Apple TV app starting next year. The cost of a consumer subscription was not immediately available.

The government has decided to introduce an employment injury scheme (EIS) for the readymade garment sector workers from ...
11/06/2022

The government has decided to introduce an employment injury scheme (EIS) for the readymade garment sector workers from July this year.

At a meeting with the International Labor Organization (ILO) in Geneva, Switzerland on Wednesday, the labor and employment ministry agreed to this.

The Bangladesh Employers' Federation (BEF) has previously indicated that the scheme would be introduced in writing on May 31 in Geneva. On Wednesday, the administration backed it up.

The project will begin as a pilot in the first week of July. A state-owned bank account will be formed, which would be managed by a tripartite management committee.

A wholly owned subsidiary of Apple , Apple Financing Ltd, will check user credit and extend short-term loans to users fo...
10/06/2022

A wholly owned subsidiary of Apple , Apple Financing Ltd, will check user credit and extend short-term loans to users for Apple Pay Later

Users will be able to buy products with Apple Pay and pay the balance off in four equal payments over six weeks as a buy now, pay later (BNPL) service.

Apple has partnered with Mastercard, which interacts with the vendors and offers a white label BNPL product called Installments, which Apple is using.

Apple Card issuer Goldman Sachs also is involved as the technical issuer of the loans and is the official BIN sponsor.

But Apple is not using Goldman’s credit decisions or its balance sheet for issuing the loans.. All the underwriting , loan decisions, credit checks will be done by Apple themselves. Which will help them keep the framework as in-house as possible

A Tk 5.0 per kilometer proposal for a 20-kilometer metro journey from Diabari to Motijheel in Dhaka metropolis is awaiti...
09/06/2022

A Tk 5.0 per kilometer proposal for a 20-kilometer metro journey from Diabari to Motijheel in Dhaka metropolis is awaiting permission from the relevant authorities.

According to sources, an MRT tariff-fixing committee proposed a total fare of Tk 100 for the 20.1 kilometer MRT-06 (MRT-06), with a minimum fare of Tk 20.

The rate has been proposed based on the users' affordability.

The proposal is being reviewed by Road Transport and Highways Division before placing it to Road Transport and Bridges Minister who will give the final nod.

A turnaround comes as the Bangladesh taka gained 50 paisa in its value against the US dollar Wednesday after a depreciat...
09/06/2022

A turnaround comes as the Bangladesh taka gained 50 paisa in its value against the US dollar Wednesday after a depreciation dive for four consecutive workdays.

The US currency was quoted at Tk 91.50 per unit on the day against Tk 92.00 of the previous working day.

"Banks have behaved more rationally in quoting exchange rates, particularly on the inter-bank market," Md Serajul Islam, a Bangladesh Bank (BB) spokesperson said.

Most banks quoted maximum Tk 93.00 for the sale of bills for collection, generally known as BC, for settling import payments on Wednesday-unchanged from the previous level

Elon Musk has threatened to abandon his $44 billion purchase of Twitter, claiming that the social media company has fail...
07/06/2022

Elon Musk has threatened to abandon his $44 billion purchase of Twitter, claiming that the social media company has failed to offer enough information regarding fraudulent accounts.

Musk has slammed Twitter's claim that less than 5% of its daily active users are bots, stating last month that his takeover "cannot move forward" until the company can offer proof.

Musk's attorneys at Skadden, Arps, Slate, Meagher and Flom wrote to Twitter's chief legal officer in a letter that was released in a regulatory filing on Monday, claiming that the business has "refused to deliver the information that [he] has repeatedly asked since May 9.“

Musk’s lawyers said that Twitter was “actively resisting and thwarting his information rights” and this “clear material breach of Twitter’s obligations” would allow Musk to “terminate the merger agreement”.

A professional qualification known as the “hardest exam in finance” is falling out of fashion, with applicants for the c...
06/06/2022

A professional qualification known as the “hardest exam in finance” is falling out of fashion, with applicants for the chartered financial analyst programme running well below pre-coronavirus pandemic levels for a third consecutive year.

In the year to August 2019, about 160,900 candidates around the world took the level 1 exams, the first of three stages towards a full CFA qualification. This dropped to just 73,688 in the following year, when the pandemic forced the institute to scrap written exams scheduled for June 2020

In the year to August 2021, 125,775 students took the exams after the institute switched from written to online tests from February 2021.

Just over 93,000 students have taken the level 1 exams this fiscal year, but it is noted that due to Chinese lockdowns, a large number of candidates have canceled or postponed tests slated for May.

One senior CFA Institute staff member said the high workload, low pass rate and pandemic-related disruption had caused more prospective students to question whether the qualification was relevant to their careers.

While people are still recovering from the pandemic-induced shock that pushed into poverty three crore people, the recen...
05/06/2022

While people are still recovering from the pandemic-induced shock that pushed into poverty three crore people, the recent inflation has created another 21 lakh poor, a recent study has found.

Power and Participation Research Centre (PPRC) and BRAC Institute of Governance and Development (BIGD) jointly conducted the study on some 4,000 families in both rural and urban areas from May 2022 till the present.

The drop in daily per capita real incomes in urban slums (8%) has been more pronounced than in rural areas (3 percent ). In comparison to villages, livelihoods in urban slums were already more badly impacted by Covid and were recovering more slowly. According to the study, inflation has hampered the recovery in the slums even more.

Bangladeshi electronics and technology giant Walton has set up a Research and Innovation Centre in South Korea.According...
05/06/2022

Bangladeshi electronics and technology giant Walton has set up a Research and Innovation Centre in South Korea.

According to a release, Walton reached an agreement with a reputable South Korean design firm to collaborate on making revolutionary changes in the quality and design of electronics and technology items.

Walton took another step forward in dominating the global market with Bangladesh-made world-class products by establishing a research center in South Korea.

According to the authorities involved, Walton's plan will result in a significant improvement in product quality and design.

Though it will raise the cost of production, the Bangladeshi buyers will get the experience of using international standard, quality and designed products. Apart from this, Walton products will gain more popularity in the global market.

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