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

Govt borrows Tk 150b from domestic sources in July-Jan

The government's overall domestic borrowing stood at Tk 150 billion during the July-January period of this fiscal year (FY), 2017-18, mainly due to lower demand for funds to meet its budget spending. The government borrowed only about 25 per cent of the total target, set for the FY.This borrowing mainly...

Rat race on to push through new, unapproved projects

Ministries are racing hard to add their new, unapproved projects to the upcoming Annual Development Programme (ADP), majority of which insiders say are politically-motivated.Officials and insiders said that the Planning Commission is under pressure to include the fresh but unapproved projects in the development programme for the financial year 2018-19,...

Hilsa prices plunge on supply glut

Prices of Hilsa dropped steeply on Friday, just a night before Pahela Baishakh, the first day of Bangla calendar year, due to a supply glut with low demand, traders said.Prices of the national delicious fish, which skyrocketed to Tk 1,350-Tk 1,850 a kg on Thursday, came down to Tk 700-Tk...

Baishakh tourists throng Cox’s Bazar beach

COX'S BAZAR, Apr 13: A fairly large number of tourists arrived in Cox's Bazar town to celebrate Pahela Baishakh. Most of the residential hotels of the town are now swarming with tourists, according to the Hotel Motel Owners Association."At least 1.50 lakh tourists are already staying at about 450 hotels...

Dhk-Ctg bullet train project study at final stage: Minister

CHATTOGRAM, April 13: Railways Minister Md Mujibul Haque on Thursday said the Dhaka-Chattogram bullet train project will be implemented at a cost of Tk 320 billion, and a study on the project is now at final stage.It will take only two and a half hours to reach Chattogram from Dhaka...

US only to rejoin Pacific trade pact, if terms are better

WASHINGTON/TOKYO, Apr 13 (Reuters): US President Donald Trump said the United States would only join the Trans Pacific Partnership (TPP), a multinational trade deal his administration walked away from last year, if it offered "substantially better" terms than those provided under previous negotiations.His comments, made on Twitter late Thursday, came...

BSEC working to introduce 'Sukuk' in capital market

Bangladesh Securities and Exchange Commission (BSEC) is working to introduce 'Sukuk', an Islamic financial certificate similar to bond, in the capital market for financing the large projects, reports BSS."The work is going on to form rules of Sukuk. Recently, we had a meeting with the finance ministry to discuss Sukuk,"...

Metals tariffs hit makers, sellers of farm equipment

KANE COUNTY, Illinois, Apr 13 (Reuters): Lucas Strom, who runs a century-old family farm in rural Illinois, cancelled an order to buy a new $71,000 grain storage bin last month - after the seller raised the price five per cent in a day. The reason: steel prices jumped right after...

DR Congo aid conference draws $528m in pledges: UN

GENEVA, Apr 13 (AFP): Donors gathered in Geneva pledged Friday $528 million (428 million euros) towards addressing a towering humanitarian crisis in the Democratic Republic of Congo, the UN said.The amount was less than a quarter of the some $2.2 billion the UN has estimated is required this year to...

Billionaire seeks to split California into 3 states

SAN FRANCISCO, April 13 (AP): A billionaire says he has enough support to ask Californians if they want to divide the nation's most populous state into three states.Venture capitalist Tim Draper says he plans to deliver more than 600,000 signatures next week to be verified by California's secretary of state....