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

Stabilisation Fund hanging in the balance, with SEC skeptical about its role

The fate of the Capital Market Stabilisation Fund (CMSF) is hanging as it is yet to know whether it will be allowed to run operations in the changed political landscape.The uncertainty loomed after the fall of the Sheikh Hasina-led regime on August 5 and the formation of the new securities...

Lawlessness in industries impacting banks' cash flow: BAB chief

Lawlessness in industrial hubs has emerged as a major challenge for the economy, badly impacting cash flow to the banking sector, says Abdul Hai Sarker, newly appointed chairman of the Bangladesh Association of Banks (BAB). In an exclusive interview with The Financial Express recently, the chairman of the country's apex...

BIFC shows signs of dying: Auditor

The auditor of Bangladesh Industrial Finance Company (BIFC) issued a warning about the risk facing the business as its key financial indicators have been in the negative for more than a decade.The cumulative loss of the scam-hit non-bank financial institution (NBFI) is Tk 13.58 billion as of December 2023. Its...

Digital banking transactions see steady growth

Transactions through digital and paperless banking system are gradually increasing in the country, with an expansion of the prevalence of ATMs, POS terminals and CRMs, reports BSS.Despite the challenges posed by the July-August uprising of 2024, transactions through Automated Teller Machine (ATM), Points of Sale (POS), Cash Deposit Machine (CDM)...

Bhomra land port earns Tk 162.4m revenue in H1

KHULNA, Jan 6 (UNB): Bhomra land port in Satkhira has posted an impressive revenue of Tk 162.4 million from the export of various products to India in the first half of fiscal year 2024-25, according to the National Board of Revenue (NBR).The increasing exports through this land port have significantly...

Prepare roadmap to boost regional trade

Commerce Adviser Sk Bashir Uddin on Monday urged the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) to prepare a roadmap to double regional trade, reports BSS."Increasing trade among partner countries, especially mutual understanding among businessmen in the region, can play a vital role in making the...

BIDA launches new version of OSS portal

The Bangladesh Investment Development Authority (BIDA) launched the new version of its One-Stop Service (OSS) portal on Sunday, reports BSS.The updated version incorporates several key features to enhance service delivery, making it easier and more transparent for investors, said a press release.BIDA initially launched the online OSS portal (www.bidaquickserv.org) on...

MEGHNA GROUP OF INDUSTRIES CELEBRATES 50TH ANNIVERSARY

Meghna Group of Industries (MGI) on Sunday celebrated its 50th anniversary at its head office in the capital's Gulshan. The programme was live-streamed via video conference at MGI's different factories and offices. MGI offices, factories, and depots nationwide were decorated with special setups, arches, and photo booths. MGI Chairman and...

DHAKA BANK TO COLLECT TAX, LICENCE FEES FOR DSCC

Dhaka Bank on Monday launched holding tax and trade licence fee collection services for the Dhaka South City Corporation (DSCC) at Nagar Bhaban in the capital. Deputy Managing Director Sheikh Abdul Bakir of the bank, and DSCC Chief Executive Officer Bashirul Haque Bhuyan were present at the launching ceremony, among...

NCC BANK RECEIVES 'REMITTANCE AWARD'

NCC Bank received the 'Remittance Award' from the Ministry of Expatriates' Welfare and Overseas Employment in recognition of its exceptional performance in facilitating remittance collection during the fiscal year 2023-24. Md. Mahbub Alam, Deputy Managing Director of NCC Bank, received the award from Dr Asif Nazrul, Adviser to the Ministry...

ONE BANK SIGNS AGREEMENT WITH BANGLADESH BRIDGE AUTHORITY

ONE Bank PLC has officially signed an agreement with the Bangladesh Bridge Authority (BBA) regarding toll collection for Jamuna Bridge through the collection booth located at the bridge. Md Monzur Mofiz, Managing Director of ONE Bank, and Rashidul Hassan, Executive Director of BBA, signed the agreement recently on behalf of...

SONALI BANK DISTRIBUTES BLANKETS IN CAPITAL

Sonali Bank PLC distributed blankets among poor, helpless and destitute people at Uttara in the capital recently as part of its Corporate Social Responsibilities (CSR) activities. Deputy Managing Director of the bank Shamim Uddin Ahmed handed over the blankets among cold-hit people.

SCB rejoinder

The Standard Chartered Bank (SCB) in a rejoinder issued on Monday contradicted the content of a news item, published in the January 06 issue of The Financial Express, under the headline, 'DIRD Composite served show-cause notice for failing to clear due wages'.The FE report said the government on December 10...

Saudi Arabia, BlackRock explore collaborative opportunities to advance Vision 2030 goals

RIYADH, Jan 6 (Arab News): A meeting between Saudi Arabia's economy minister and the vice chairman of BlackRock focused on global economic developments, investment opportunities, and the Kingdom's Vision 2030 diversification efforts.During the talks in Riyadh on January 5, Faisal Al-Ibrahim and Philipp Hildebrand discussed identifying potential collaborations to advance...

Vietnam's GDP growth rises to 7.09pc

HANOI, Jan 6 (Reuters): Vietnam's economy expanded 7.09 per cent last year to $476.3 billion, faster than the 5.05 per cent expansion in 2023, driven by strong exports and robust foreign investment inflows, government data showed on Monday.Gross domestic product grew 7.55 per cent in the fourth quarter, the fastest...