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

ICB left on its own as finance ministry rejects Tk 50b loan plea

The interim government has turned down the ICB's plea for a loan worth Tk 50 billion sought to strengthen its financial base and support the country's capital market."The government now is not willing to disburse any loan. It would be better if some funds could be disbursed by the government,"...

DU teacher Farzana Lalarukh completes BSEC board

Former Dhaka University teacher Farzana Lalarukh has been appointed as commissioner of the Bangladesh Securities and Exchange Commission (BSEC) for the next four years.The Financial Institutions Division of the Ministry of Finance (MoF) issued a notification in this regard on Tuesday with immediate effect.Ms Lalarukh held various academic positions at...

Abdul Awal elected chair of Risk Management Committee of Mercantile Bank

Mohammad Abdul Awal (Sumon) was been elected as chairman of the Risk Management Committee of Mercantile Bank at the 448th board meeting of the bank on September 1. Mr. Awal is managing director of Synthia Securities Ltd. He also worked as chairman of Express Insurance Limited. Moreover, he is involved...

Crisis-ridden Sonali Life Insurance gets observer

The Financial Institutions Division (FID) has appointed its additional secretary Md Shah Alam as an observer to the crisis-ridden Sonali Life Insurance Company to protect the interest of policyholders and address other issues.Besides, it instructed the Insurance Development and Regulatory Authority (IDRA) to appoint two independent directors to the board...

Alltex's land assets' worth up 59pc after re-evaluation

Loss-making Alltex Industries has re-evaluated its land, resulting in the value of the assets going up by 59 per cent to Tk 2.19 billion.According to a stock exchange filing on Tuesday, the re-evaluation of the assets will be reflected in the balance sheet from June 30, 2024. Revaluation is an...

IIDFC gets new DMD

Abu Shadat Mohammad Shahin has recently joined as Deputy Managing Director (DMD) of IIDFC PLC, says a press release.Mr Shahin has more than 24 years of professional exposure in the banking industry in various capacities. He started off his career with Arab Bangladesh Bank Limited as probationary officer and performed...

HSBC named International Retail Bank of the Year

Hongkong and Shanghai Banking Corporation Limited (HSBC) Bangladesh has been awarded as the International Retail Bank of the Year for the fourth consecutive year, as well as the Best Marketing and Brand Initiative of the year for the second time in a row. The awards ceremony held recently at Marina...

IPDC Finance launches Tree Plantation Programme

IPDC Finance Limited has partnered with Enroute Foundation as implementation partner for a tree plantation drive supervised by RAJUK, as this initiative aims to enhance the city's ecological balance and promote environmental sustainability, says a press release.Key representatives from both organisations attended the initiation of the Tree Plantation drive, including...

Southeast Bank provides fund to Habiganj Agricultural University

Southeast Bank has provided financial support to Habiganj Agricultural University for agricultural research under special CSR fund. Financial assistance has been handed over to Professor Md. Abdul Baset, vice-chancellor of the university in presence of Nuruddin Md. Sadeque Hossain, Managing Director, Southeast Bank. Md. Masum Uddin Khan and Abidur Rahman...

Shahjalal Islami Bank signs DEAL with Placid Express

Shahjalal Islami Bank has signed a remittance drawing agreement with USA based remittance company Placid Express, at the bank's corporate head office on September 3. Managing Director of Shahjalal Islami Bank Mosleh Uddin Ahmed and Director of Placid Express Mohammed Rashid signed the agreement. Placid Express is a leading provider...

JANATA BANK ORGANIZES TRAINING COURSE

Managing Director of Janata Bank PlC Md Abdul Jabbar inaugurated a 20-day training course on 'Managers' Induction' organised by Janta Bank Staff College in Dhaka recently. Some 25 officers participated in the training course.

Euro zone factories stuck in a rut as Asia shows tentative signs of recovery

LONDON/TOKYO, Sept 3 (Reuters): Factories in the euro zone remained mired in contraction last month, surveys showed, with the data suggesting a recovery could be some way off but Asian and British manufacturers showed tentative signs of recovery.However, analysts say prospects of slowing U.S. growth, which is likely to lead...

BMW recalling Mini Cooper SE models

BERLIN, Sept 3 (Reuters): German automaker BMW is recalling electric Mini Cooper SE vehicles due to problems in their batteries, which could potentially affect more than 140,000 autos worldwide, a company spokesperson told Reuters on Monday.Around 39,000 vehicles could be affected in Germany, the company said in a statement on...

Ukraine's bondholders approve crucial $20b debt restructuring

LONDON, Sept 3 (Reuters): Ukraine announced on Wednesday that international bondholders had formally approved its plan to restructure over $20 billion of debt amid its ongoing war with Russia.Kyiv said those holding over 97 per cent of its debt had done so by the required deadline, meaning the restructuring could...

Major Gulf markets mixed ahead of US economic data

Major stock markets in the Gulf were mixed in early trade on Tuesday ahead of a raft of US economic data that could determine how deeply the Federal Reserve will cut interest rates later this month, reports Reuters.The US ISM manufacturing survey, due later in the day, and particularly jobs...