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

Experts foresee 'huge' problem with merger of five Islamic banks

Criticising the central bank's proposed merger of five problem-ridden Islamic banks, speakers at a roundtable discussion expressed the fear that the merged Sariah-based bank could become a huge burden for the government.Their fear comes in the backdrop of experience gained earlier from the merger of two state-owned banks into one....

A2i project faces massive cost surge

The government's flagship Aspire-to-Innovate (a2i) project has run into major financial controversy after racking up deferred payments of Tk 3.0 billion in its data-preservation segment, twelve times the original allocation. Despite an initial provision of only Tk 250 million, the project authority is now seeking more than Tk 3.55 billion...

US need not worry over BD-China ties, says adviser

Foreign Affairs Adviser Md Touhid Hossain said on Tuesday that there is no reason for the United States or any other country to be concerned about Bangladesh's balanced relationship with China.He made the remark while responding to a question at the Ministry of Foreign Affairs regarding comments made by Brent...

Govt tightens spending control, bars extra budget allocations

The government has imposed a strict expenditure ceiling on all ministries and divisions as part of its ongoing austerity measures amid mounting fiscal pressures and slower revenue growth.According to a recent directive from the Ministry of Finance, total expenditure in the revised budget for fiscal year 2025-26 - covering both...

Power import payment rules relaxed

Bangladesh Bank (BB) has relaxed regulations governing power-import payments, allowing authorised dealer banks to make outward remittances for electricity purchases under government-approved cross-border arrangements without obtaining prior approval for each case from the central bank.In a circular issued on Tuesday by its Foreign Exchange Policy Department (FEPD), the central bank...

Bond yields climb as banks hold back

Yields on two types of long-term treasury bonds rose sharply on Tuesday, as banks showed reluctance to invest their surplus funds in government securities in an effort to manage their portfolios more efficiently.According to auction results, the cut-off yield, effectively the interest rate, on 15-year Bangladesh Government Treasury Bonds (BGTBs)...

Court orders to attach 469 acres of land of S Alam

A court in Dhaka on Tuesday ordered to attach 469 acres of land in Gazipur and Cox's Bazar, owned by S Alam Group owner Mohammad Saiful Alam and persons associated with his interests.Dhaka Metropolitan Senior Special Judge Md Sabbir Faiz passed the order, allowing a plea of the Anti-Corruption Commission...

Cyclone Montha slams India's southern coast

NEW DELHI, Oct 28 (AFP): Heavy rain and gusty winds lashed India's southern coast as Cyclone Montha started to make landfall on Tuesday, officials said, disrupting flights and triggering waterlogging in low-lying areas.Cyclones, the equivalent of hurricanes in the North Atlantic or typhoons in the northwestern Pacific, are a regular...

Construction of 1.16-kilometre extension of metro rail

The construction of the 1.16-kilometre extension of the metro rail from Motijheel to Kamalapur is progressing rapidly. This segment, the final section of the Mass Rapid Transit (MRT) Line-6, is expected to be completed by the end of next year. Once finished, the project will bring substantial socioeconomic benefits by...

LGED engineers, contractor sued on Tk 12.2m embezzlement charge

The Anti-Corruption Commission (ACC) has filed a case against three engineers of the Local Government Engineering Department (LGED) in Dhaka and a contractor for allegedly embezzling over Tk 12.2 million through 'forgery and abuse of official power'.The accused are Md Bacchu Mia, Executive Engineer, LGED, Dhaka; Md Saber Ali, Senior...

Gold prices see sharp drop in domestic market

Gold prices in the domestic market saw a sharp drop with the newly revised rates announced by the Bangladesh Jewellers Association (BAJUS) on Tuesday.According to the new rates, the price of high-quality 22-carat gold has dropped by Tk 10,474, bringing the price to Tk 193,809 per bhori.This new rate will...

Writ for compensating metro rail bearing pad accident death

Two lawyers have filed writ petitions at the High Court seeking compensation for the family of a man who died after being hit by a falling bearing pad from the Dhaka Metro Rail, reoirts bdnews24.com. They also called for the formation of an investigation committee to probe the incident.On Tuesday,...