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

Regulator forms task force, seeks advice for market expansion

A task force has been formed with university professors, chartered accountants, and professionals to identify reasons as to why the equity market is insignificant in size compared to the country's gross domestic product. They will recommend ways to expand the market and other reforms necessary for it to thrive. The...

Dhaka bourse finds Emerald's link with artificial stock price hikes

Emerald Oil Industries experienced an astounding 508 per cent stock price hike in the five months to July 12 last year, which, according to the Dhaka bourse, was the outcome of purposeful price sensitive information.On several occasions, the information did not lead to the results intended.The rice bran edible oil...

Adani Group to buy Heidelberg’s Indian cement operations

BENGALURU, Oct 07 (Reuters): The Adani Group is in talks to buy the Indian cement operations of Germany's Heidelberg Materials in a deal that could be worth about $1.2 billion, the Economic Times newspaper said on Monday, citing people familiar with the matter.Led by billionaire Gautam Adani, the group entered...

ISO lead auditor training begins

The British Standards Institution has organised a five-day 'Lead Auditor Training Course on ISO 14001:2015 (Environmental Management Systems)', which began at a hotel in Dhaka on Monday.This course is being held under the Standards Partnership Initiative, funded by the Foreign, Commonwealth, and Development Office (FCDO) of the United Kingdom, says...

ECB to cut rates in Oct on risk of too low inflation

FRANKFURT, Oct 07 (Reuters): The European Central Bank will probably cut interest rates on Oct 17 as economic growth is weak and this raises the risk that inflation will undershoot its 2 per cent target, French Central Bank Chief Francois Villeroy de Galhau told an Italian newspaper.The ECB cut rates...

DHAKA BANK, GREEN DELTA INS LAUNCH CO-BRANDED CREDIT CARD

Dhaka Bank and Green Delta Insurance launched the country's first dual insurance co-branded mastercard Credit Card with life and non-life insurance benefit for the customers and employees of Green Delta Insurance. The co-branded credit card was unveiled at a ceremony at a city hotel on Sunday, Sheikh Mohammad Maroof, managing...

MERCANTILE BANK AND XPRESS MONEY LAUNCHED REMITTANCE SERVICE

Mercantile Bank and Xpress Money Services Ltd recently launched remittance services. Md. Quamrul Islam Chowdhury, managing director of the bank and Nur E Ferdaushi, Bangladesh country head, Xpress Money Services Ltd jointly inaugurated the event. This service will facilitate Bangladeshi expatriates living and residing in UAE and sending their hard-earned...

CITY INSURANCE WINS ICSB GOLD AWARD

City Insurance PLC was awarded the prestigious ICSB Gold Award for Corporate Governance Excellence in 'Non-life Insurance' category for the second consecutive year. Director Faizah Mehmood, along with Managing Director & CEO Md. Shamim Hossain, CFO Sheikh Azizul Haque, and Company Secretary Mohammed Ashaduzzaman Sarkar of City Insurance, received the...

HASAN TAREK NEW CEO OF EASTERN INSURANCE CO

Hasan Tarek has been appointed as the Chief Executive Officer of Eastern Insurance Company Ltd, with effect from October 1. On behalf of the Board of Directors and Eastern Insurance family, Chairman of the company ASM Waheeduzzaman congratulated the new CEO with a bouquet.

SONALI BANK PLC OPENS 'UTTARA JANAPATH BRANCH'

Sonali Bank PLC opened its 'Uttara Janapath Branch' at Uttara in Dhaka with the promise of smart and digital banking services on Monday. Deputy Managing Director of the bank Subhash Chandra Das inaugurated the branch. Md Arshad Hossain, General Manager of General Managers' office, Dhaka North, and Md. Abdur Razzak,...

Standard Bank holds Audit Committee meeting

The 117th audit committee meeting of Shari'ah-based Standard Bank PLC was held at its Head Office in Dhaka on Monday. Chairman of the committee Golam Hafiz Ahmed presided over the meeting. Members of the committee Ashok Kumar Saha and SAM Hossain, Managing Director & CEO Md Habibur Rahman, and Deputy...

Nissan to invest in auto tech firm ChargeScape

TOKYO, Oct 07 (Reuters): Japan's Nissan Motor said on Monday it would invest an undisclosed amount in ChargeScape and roll out the battery charging technology company's services to its electric-vehicle drivers across the United States and Canada.After the transaction, Nissan will pick up a 25 per cent stake in ChargeScape,...

EU backing for China EV tariffs shows Berlin’s waning influence

BRUSSELS, Oct 07 (Reuters): German Chancellor Olaf Scholz's rejection of EU tariffs on Chinese electric vehicles failed to stop fellow European Union members voting in favour, exposing how a divided Berlin is struggling to drive EU policy.Germany was one of only five EU members to reject tariffs after months of...

China to flesh out economic stimulus plans after bumper rally

BEIJING, Oct 7 (AFP): Top Chinese economic policymakers are expected to flesh out a raft of growth-boosting policies on Tuesday, after the announcement of long-awaited stimulus measures last month sparked a blistering stock market rally.Beijing has struggled to kickstart the economy as officials target around five percent growth this year...

Samsung Electronics says it is not interested in spinning off foundry business

MANILA/SEOUL, Oct 7 (Reuters): Samsung Electronics is not interested in spinning off its contract chip manufacturing business as well as its logic chip designing operation, its chairperson Jay Y. Lee told Reuters on Monday.Analysts say the two businesses are incurring billions of dollars of annual losses due to weak demand...