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

Nassa Group to shut 16 RMG units amid financial crisis

Nassa Group, one of Bangladesh's leading garment manufacturers, is set to permanently close 16 of its factories after failing to sustain operations due to severe financial and other crises. The move, finalised through a tripartite agreement, affects more than 12,500 workers and marks one of the largest single shutdowns in...

$1.44b hard-term loans get govt nod

The standing committee on non-concessional loan approved seven hard-term loans worth US$1.44 billion at its meeting on Wednesday, officials said.This is the largest amount of hard-term loans, approved by the committee in one sitting, within the tenure of this interim government, they said.Chaired by Finance Advisor Dr Salehuddin Ahmed, the...

Salehuddin asks SoCBs to speed up default loan recovery drive

Finance Adviser Dr Salehuddin Ahmed has asked the chief executives of six state-owned commercial banks (SoCBs) to take necessary steps for quicker recovery of their default loans. He also advised them to ensure good governance in the banks, emphasising that the board of directors should not interfere in banks' day-to-day...

Interest rate spread falls to 25-month low amid profitability concerns

The interest-rate spread between banks' weighted average lending and deposit rates narrowed to a 25-month low of 5.75 per cent in July, raising concerns over profitability in the country's financial sector. The decline, driven by higher deposit costs and sluggish lending growth, reflects mounting stress in the banking industry, according...

Commission sees solution in consensus among parties

The National Consensus Commission (NCC) believes the crisis centring constitutional reforms and the July Charter's implementation will be resolved if political parties negotiate and reach a consensus.The parties, too, agree that negotiations could ease the complexities. However, some parties have taken to the streets to demand the charter be implemented...

NCP applies to EC for 'Shapla' symbol

The National Citizen Party (NCP) has formally applied to the Election Commission (EC), seeking the inclusion and allocation of the "Shapla" (water lily) symbol, or its variants "White Shapla" or "Red Shapla," as the party's electoral symbol, reports BSS.The application was submitted Wednesday via email to the EC Senior Secretary,...

BD peg India back to 168 in Asia Cup clash

Bangladesh staged a fine comeback to restrict India to 168 for 6 in their Asia Cup Super Four meeting, after the Indian openers threatened to run away with the game.India looked set for a huge total when Abhishek Sharma and Shubman Gill powered them to 72 in the powerplay, reports...

Prof Yunus calls for smarter financing to close $4tn SDG gap with five priorities

NEW YORK (USA), Sept 24 (UNB): Chief Adviser Prof Muhammad Yunus on Wednesday suggested five priorities for better financing the Sustainable Development Goals (SDGs), including mobilisation of domestic resources fairly, supported by international assistance."Tax systems must be progressive, transparent, and ensure multinational corporations pay their share. Negotiations under the UN...