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

Walton to give record dividends, buoyed by 73pc profit growth

Walton Hi-Tech Industries secured a remarkable 73 per cent year-on-year growth in profit to Tk 13.57 billion in FY24, overcoming high inflation and other macroeconomic challenges.The electronic and home appliance giant's earnings per share (EPS) jumped to Tk 44.78 in FY24 from Tk 25.84 the year before, according to the...

NCC Bank plans to expand Islamic banking window

National Credit and Commerce (NCC) Bank PLC is expected to strengthen its focus on Islamic banking services to meet demand of its growing number of Shariah-based clients, and to transform the bank into their reliable Islamic partner.As part of the plan, the second generation conventional bank has decided to initially...

Regulator unilaterally appointed independent directors: DBA

Brokers have raised questions about the recent appointment of seven independent directors to the board of the Dhaka Stock Exchange (DSE), saying they have been chosen without consultation with the bourse. The new appointees do not have any female representation, which is "regrettable", said the DSE Brokers Association (DBA) of...

Scrap unnecessary a2i projects: Adviser

ICT Adviser Nahid Islam has instructed the officials to scrap unnecessary projects under the 'Aspire to Innovate (a2i)' initiative, a special programme taken during the Sheikh Hasina-led government.He also said that several investigation committees have been formed to look into the irregularities and corruption that has taken place under the...

Union Bank gets new chairmen of Audit and Risk Management committees

Sheikh Zahidul Islam was elected as the new Chairman of the Audit Committee of Union Bank PLC and Md Humayun Kabir as the new Chairman of the Risk Management Committee of the bank.They were elected at the first meeting of the bank's newly constituted Board of Directors recently, with Chairman...

Modhumoti Bank donates Tk 5m for flood victims

Modhumoti Bank donated Tk 5 million to Chief Advisor's Relief & Welfare Fund to support the people who have been suffering due to the devastating flood under the CSR activities of the bank. Besides, employees of the bank have contributed with one day basic salary for the month of August...

Stocks slide on worries over labour unrest

Stocks extended the losing streak for the third straight session on Wednesday, as jittery investors dumped their holdings to avoid further erosion of their portfolios amid concerns over the country's macroeconomic situation.The prime index of the Dhaka Stock Exchange (DSE) fell 47.45 points to settle at 5,739.The market witnessed high...

ISO 9001:2015 CERTIFICATION AWARDED TO SOUTHEAST BANK

The International Division of Southeast Bank PLC has been awarded ISO 9001:2015 Certification from Bureau Veritas (Bangladesh) Pvt Ltd, a globally recognised certification body for establishing Quality Management System (QMS) in its operation. This is the first time the International Division of a Bank in Bangladesh receives ISO Certification. Earlier,...

MTB INKS DEAL WITH STARPATH HOLDINGS FOR PAYROLL BANKING SERVICES

Mutual Trust Bank (MTB) PLC. recently signed an agreement with Starpath Holdings Ltd. to provide payroll banking services to its employees. Md. Shafquat Hossain, deputy managing director & head of retail banking of MTB and Md. Wahiduzzaman, managing director & CEO of Starpath Holdings Ltd exchanged the documents at a...

SIBL MD Zafar, DMDs Habibur and Khorshed resign

Just a few days after the reconstitution of the board, Social Islami Bank Ltd (SIBL) Managing Director Zafar Alam and Habibur Rahman and Khorshed Alam, both of whom are deputy managing directors (DMD), resigned from their positions.The top executives of the bank submitted their resignations to the chairman of the...

Asset Developments & Holdings Contributes to Chief Adviser's Relief Fund for Flood Victims

Asset Developments & Holdings Ltd, a leading builder and developer company in Bangladesh, has donated Tk 2.0 million to the Chief Adviser's Relief and Welfare Fund for flood victims. The amount includes voluntary contribution of one day's salary from its officers.

Takaful hands over fire insurance claim cheque

Abul Kalam Azad, Chief Executive Officer of Takaful Islami Insurance Limited, handed over a cheque for Tk 42,86,768 to Md Zillur Rahman Khan, Proprietor & Managing Director of Shugandha Feed Mills Ltd, a client of the IBBL, Barishal Branch, against a fire insurance claim recently. Md Sarwar Hossain, EVP &...

'Fry Bucket' opens outlet at Aftabnagar

Popular Fast Food chain brand 'Fry Bucket' has launched an outlet at Aftabnagar in Dhaka recently. Animesh Saha, Deputy Managing Director of Fry Bucket, inaugurated the outlet near the East West University. Anisul Islam, Head of Marketing of Fry Bucket, and Rashedul Alam, Head of Operation, were present at the...

Intel manufacturing business suffers setback as Broadcom tests disappoint

NEW YORK, Sept 04 (Reuters): Intel's contract manufacturing business has suffered a setback after tests with chipmaker Broadcom failed, three sources familiar with the matter told Reuters, dealing a blow to the company's turnaround efforts.The tests conducted by Broadcom involved sending silicon wafers - the foot-wide discs on which chips...

Toyota, Maruti launch marketing drive for hybrids in key Indian state

LUCKNOW (India), Sept 04 (Reuters): From Instagram ads to telesales, Japanese automakers Toyota and Maruti Suzuki are going all out to market their hybrid cars in the most populous Indian state of Uttar Pradesh, aiming to cash in on tax waivers that upset many of their rivals.The waivers have split...