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

Investors likely to return empty-handed from NBFI liquidation drive

Investors are unlikely to recover anything from their stakes in the non-bank financial institutions (NBFIs) now heading for liquidation under a Bangladesh Bank initiative.The central bank has recently decided to wind up nine out of 35 NBFIs in what marks the first such large-scale liquidation move in the financial sector,...

Move to procure some essentials for its Ramadan sales drive

The government has planned to procure some commodities in advance for its sales drive of essentials in the next Ramadan, aiming to support 10 million low-income families, sources said.As part of the move, the state-run Trading Corporation of Bangladesh (TCB) will purchase the required quantities of chickpeas and dates from...

VIPB Fixed Income Fund posts above 26pc return for 1st year

VIPB Fixed Income Fund has generated a 26.2 per cent return within one year of the launch of its operation.Officials of the asset manager, VIPB Asset Management Company, said the larger portion of the return came from Treasury bonds.The fund distributed a 5 per cent cash dividend for the period...

Qatar bank provisions climb to $9b

RIYADH, Aug 31 (Arab News): Loan and financing provisions across Qatari banks rose to 33 billion Qatari riyals ($9.06 billion) in July, up from 32.8 billion riyals during the same month last year.Data from Qatar Central Bank also showed that expected credit losses surged 15.9 percent year on year, reaching...

Sonali Bank signs contract with BPATC

Sonali Bank PLC signed a contract with Bangladesh Public Administration Training Centre (BPATC) to collect trainees' course fees, employees' medical & transport fees and other charges and fees through the Sonali Payment Gateway. Rector (Secretary) of BPATC Sayeed Mahbub Khan and MD & CEO of Sonali Bank Md Shawkat Ali...

Islami Bank holds board meeting ----

A meeting of the board of directors of Islami Bank Bangladesh PLC was held at Islami Bank Tower on Sunday. Prof Dr M Zubaidur Rahman, chairman of the bank, presided over the meeting. Mohammad Khurshid Wahab, chairman of the executive committee, Md Abdus Salam, chairman of the audit committee, Prof...

Standard Bank holds 416th Board Meeting

The 416th Board Meeting of Shari'ah-based Standard Bank PLC was held at the bank's Head Office in Dhaka on Sunday. Chairman of the Board of Directors Mohammed Abdul Aziz presided over the meeting. Vice Chairman AKM Abdul Alim, Directors Ashok Kumar Saha, SAM Hossain, Mohammed Shamsul Alam, Md Zahedul Hoque,...

China manufacturing shrinks despite new US trade truce

BEIJING, Aug 31 (AFP): China's factory output ticked up in August but still recorded a fifth straight month of contraction, official data showed Sunday, as Beijing and Washington press on with trade talks.The Purchasing Managers' Index-a key measure of industrial output-was 49.4, the National Bureau of Statistics (NBS) said, up...