Finance News: Latest Financial News, Finance News today in Bangladesh

Indian ONGC likely to abandon hydrocarbon exploration in Bay

Indian oil and gas exploration company ONGC Videsh Ltd (OVL) is set to abandon its hydrocarbon exploration efforts in two Bangladeshi offshore gas blocks after a decade of operations.OVL -- the sole international contractor assigned to delineate hydrocarbons in Bangladesh's offshore blocks -- has neither sought to extend its contract...

Islami Bank board to be dissolved

Bangladesh Bank (BB) has decided to dissolve the board of directors of the Islami Bank Bangladesh PLC, and reconstitute it within a couple of days."The board will be dissolved and independent directors will be appointed within two days," Governor Dr Ahsan H. Mansur told a press briefing at the BB...

Rains, run-off inundate nine dists

Nine districts of the country have been flooded due to heavy rains and onrush of water from the upstream, the Ministry of Disaster Management and Relief announced on Wednesday. The affected districts are Sunamganj, Moulvibazar, Habiganj, Feni, Chittagong, Noakhali, Comilla, Laxmipur and Khagrachhari.Additional Secretary KM Ali Reza, speaking at a...

Whitepaper on state of economy to be published

A "whitepaper" unveiling the state of economy in six priority areas, including public finance, inflation, and food management, will be published following a decision of the interim government's advisory council.To be published in next ninety days, the whitepaper will portray an overall picture of the country's economy and reflect on...

BB, Agrani reschedule Orion Pharma's loan bypassing rules

The Agrani Bank with conditional approval of the Bangladesh Bank has recently rescheduled a substantial volume of loan belonging to Orion Pharma, a major manufacturing concern of the Orion Group, in violation of rules and regulations. Neither Agrani nor BB should have considered the plea for loan rescheduling by the...

Govt debt swells over Tk 16.97t

Government debt had accumulated to Tk 16.97 trillion until March 2024 in an increase by Tk 840 billion or 5.0 per cent year on year, as Bangladesh grapples to meet its fiscal deficits. The sharp rise in government debts signals growing financial strains on the economy, potentially affecting inflation rates...

BB names administrator for Nagad

Bangladesh Bank (BB), the country's central bank, has appointed an administrator for the mobile financial service (MFS) provider Nagad, as stated in a circular issued on Wednesday.Muhammad Badiuzzaman Dider, a director of Bangladesh Bank's Chattogram office, has been appointed as the administrator for a one-year term.The central bank has also...

3 more cases filed against Hasina, aides

At least three more complaints were lodged with the investigation agency of the International Crimes Tribunal in Dhaka on Wednesday accusing the recently ousted premier, Sheikh Hasina, and several others.Charges of crimes against humanity and genocide perpetrated during the student-led quota-reform movement from July 15 to August 05 have been...