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

Move to equip IDRA with 'search and seizing' power

The government has moved to give the Insurance Development and Regulatory Authority (IDRA) 'search and seizing' powers in a bid to curb fraudulence, malpractice and irregularities in the insurance sector.The proposed amendments to the existing law have been put forward to the Ministry of Finance for the next course of...

BGMEA, BKMEA seek info on losses from members

The apex bodies for the country's apparel sector have asked their respective members to provide information on possible losses incurred due to the workers' strike at the Chittagong Port. Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) in separate circulars on February 7...

Govt, exporters, textile millers agree to boost incentives

Government officials, readymade garment (RMG) exporters and textile millers have reached a consensus on increasing incentives for the use of locally produced yarn in export-oriented garment items, alongside additional support for apparel exports.The consensus was reached at an evaluation meeting of the finance ministry's technical committee on yarn import issues,...

AB Bank hands over startup fund cheque to Bangladesh Bank

AB Bank PLC has formally handed over a cheque for Tk 24,102,820 to Bangladesh Bank as part of initiatives aligned with the Bangladesh Bank's directives on the formation and operation of 'Bangladesh Startup Investment Company PLC'. Nawshad Mustafa, Director, SME and Special Programs Department, Bangladesh Bank received the cheque from...

EBL signs bancassurance agreement with City Insurance

Eastern Bank PLC (EBL) has signed a bancassurance agreement with City Insurance PLC to expand customer access to innovative insurance solutions through EBL's extensive banking network across the country. The agreement was signed at EBL's head office in Dhaka by M. Khorshed Anowar, Deputy Managing Director, Head of Retail and...

Community Bank signs MoU with Biztrade Ventures to strengthen SME 360° business solutions

Community Bank Bangladesh PLC has signed a Memorandum of Understanding (MoU) with Biztrade Ventures Limited to strengthen SME 360° business solutions across the country.Under the agreement, Biztrade Ventures Limited will act as a strategic advisory business partner of Community Bank Bangladesh PLC, supporting the bank's CMSME portfolio from a comprehensive...

IDCOL, Square Group celebrate rooftop solar partnership

Infrastructure Development Company Limited (IDCOL), in partnership with Square Group, celebrated the successful implementation of rooftop solar power projects across Square Textiles PLC and Square Food & Beverage Limited, marking a significant milestone in the Group's sustainability journey.Under this partnership, three rooftop solar projects with a combined installed capacity of...

EU threatens temporary measures to stop Meta blocking AI rivals from WhatsApp

BRUSSELS, Feb 09 (Reuters): EU competition regulators have threatened to stop Meta Platforms from blocking artificial intelligence rivals from its WhatsApp messaging service while it investigates suspected abuse of a dominant position by the US tech giant.The European Commission said on Monday that it has sent a statement of objections,...

Indian Oil, HPCL buy 2m barrels of oil from Venezuela

NEW DELHI, Feb 09 (Reuters): India's state refiners Indian Oil Corp and Hindustan Petroleum Corp have together bought 2 million barrels of Merey crude from Venezuela for delivery in the second half of April, two trade sources aware of the deal said.The crude will be carried on a single very...