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

Downsizing credit rating industry seen as crucial for financial sector growth

Asset-quality reviews conducted by foreign firms this year have uncovered hidden bad debts and under-reported non-performing loans (NPLs) in domestic banks and other financial institutions, exposing the futility of the local credit rating industry.Experts say the industry is overcrowded, creating fierce competition among agencies that allows clients to secure higher...

ADB, Envoy Textiles ink $30m sustainability loan deal

The Asian Development Bank (ADB) signed a $30 million sustainability-linked loan agreement with Envoy Textiles. The transaction with Envoy is the follow-on to a textile manufacturing project with the ADB in 2022, according to an ADB news release on Thursday.This is ADB's first sustainability-linked loan for Bangladesh. A sustainability-linked loan...

PRIME BANK CUSTOMERS TO ENJOY EXCLUSIVE DISCOUNTS ON HYUNDAI VEHICLES

Prime Bank recently signed an agreement with Fair Technology Limited to offer its customers exclusive discounts on Hyundai vehicles. Fair Technology is the official manufacturer and authorised distributor of Hyundai passenger vehicles. The deal was signed recently at Prime Bank's corporate office in the capital. The agreement was signed by...

AIIB, NDB to JOINTLY LEND $75M TO CITY BANK

Asian Infrastructure Investment Bank (AIIB) and New Development Bank (NDB), two global multilateral development banks, have jointly signed an agreement with City Bank to provide a total of $75 million in long term financing. Under the arrangement, AIIB will give $50 million and NDB $25 million. The agreement was signed...

ZSRM HOLDS VIEW-EXCHANGE MEETING

Zahir Steel and Rerolling Mills Limited (ZSRM) held a view-exchange meeting with contractors, dealers and construction workers from Satkhira recently. The discussion focused on ZSRM bars. Director of ZSRM Md Sohrawardy presided over the event. CEO Md Humayun Kabir, GM (Finance & Admin) Md Riad Hossain and GM (Sales &...

Shanta Lifestyle rolls out Kohler’s luxury home appliance in BD

Shanta Lifestyle has officially partnered with Kohler, a 150-year-old global leader in the luxury bathroom segment, to introduce the iconic brand to Bangladesh and strengthen its portfolio of world-renowned names.The launch event took place at Kohler's new showroom in Concord Bilkis Tower at Gulshan in Dhaka recently.In his remarks, Dewan...

Private markets brace for cycle test, Asia exits remain tight

SINGAPORE, Oct 2 (Reuters): The boom in private credit and private equity is poised for a reality check as an untested credit cycle collides with fragile exit routes in Asia's public markets, two senior investment executives said at a conference in Singapore.Private markets have expanded in Asia Pacific over the...

Prolonged US government shutdown could raise market risks

NEW YORK, Oct 2 (Reuters): Investors have anticipated for weeks the risks of a US government shutdown, opens new tab to markets. Now that it is here, they are hoping it will be brief.A shutdown that lasts at least several weeks could cause confusion about the Federal Reserve's monetary policy...

Elon Musk halfway to becoming world's first trillionaire

WASHINGTON, Oct 02 (AFP): Billionaire Elon Musk, the world's richest person, is nearly halfway to becoming the planet's first trillionaire, Forbes magazine reported on Wednesday.The Tesla and SpaceX CEO became the first person to achieve a net worth of $500 billion, briefly, as the shares in his electric vehicle company...

Global leaders call for unity against cybersecurity threats

RIYADH, Oct 02 (Arab News): Day one of the Global Cybersecurity Forum Annual Meeting concluded here with calls for governments and the private sector to secure critical infrastructure and build international agreements against mounting cybersecurity threats.Macky Sall, the former president of Senegal, told Arab News at the GCF: "Cybersecurity is...

KSA signs five deals with Vietnamese firms to expand investment footprint

RIYADH, Oct 02 (Arab News): The Kingdom of Saudi Arabia (KSA) has signed five agreements with Vietnamese firms spanning construction, tourism, and infrastructure, expanding its investment footprint in the Southeast Asian nation. The deals also included advanced furniture manufacturing and workforce training, aimed at strengthening the Kingdom's industrial sector and...

US banks expect victory in capital requirements as Trump regulators revamp rules

WASHINGTON, Oct 02 (Reuters): As President Donald Trump's regulators revamp bank rules, big lenders expect their capital requirements could fall, in a stunning victory for the industry which faced a big hike under former President Joe Biden, according to senior industry executives.Aiming to cut red tape that Trump's agency picks...

Taiwan considers high-tech strategic partnership with US

TAIPEI, Oct 02 (Reuters): Taiwan is considering forming a high-tech strategic partnership with the US, which wants increased Taiwanese investment, the island's top tariff negotiator said on Thursday, giving an update on talks with Washington.Taiwan, home to the world's biggest contract chipmaker TSMC, runs a large trade surplus with the...