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

Launch of first-ever ETF foiled as investors show apathy

The possibility of the country's first-ever ETF (exchange traded fund) vanished into thin air for incomplete subscriptions even after the second-time time extension. LankaBangla Asset Management, which had proposed LB Multi Asset Income ETF, had the subscription time extended to September this year for the second time. Still, it could...

Sonali Aansh inflated revenue, assets: Auditor

The auditor of Sonali Aansh Industries identified inflated assets, sales revenue and inventories in the FY24 financial statements of the company.In a qualified opinion published on the Dhaka Stock Exchange's (DSE) website on Monday, it said a revaluation of assets had been carried out in FY07 and the company did...

SOUTHEAST BANK EXTENDS FINANCIAL SUPPORT TO FARMERS

Southeast Bank recently provided financial support to farmers from its corporate social responsibility (CSR) fund. Nuruddin Md. Sadeque Hossain, managing director of the bank, handed over a cheque to grassroots farmers at the bank's head office. Md. Hasib Hossain, founder and executive director of Proyas Manobik Unnayan Society NGO, attended...

MODHUMOTI BANK HOLDS MEETING AS SWIFT MEMBER OF BANGLADESH

Modhumoti Bank recently held the 16th executive committee (EC) meeting and 12th technical committee (TC) meeting of Swift Member & User Group of Bangladesh (SMUGB) at the bank's head office. Md. Shafiul Azam, managing director of the bank, presided over the meeting as the chairman of SMUGB. Mr. Md. Akmal...

India questions Musk's Starlink in $4.2b drug smuggling case

BENGALURU, Dec 9 (Reuters): Indian police have sent a legal demand to Elon Musk's Starlink seeking details of who purchased its internet device that helps in sea navigation when smugglers with $4.2 billion worth of meth were caught in the biggest such Indian seizure.Two people with direct knowledge of the...

Chinese premier warns world financial leaders of 'deglobalisation' risks

BEIJING, Dec 09 (AFP): China's number two leader warned on Monday that "deglobalisation" was putting further strain on the world economy, as he welcomed the heads of multilateral financial institutions to Beijing.Premier Li Qiang made the remarks in his opening speech at a summit attended by the top leaders of...

National VAT Day ads launched to raise awareness

On the occasion of National VAT Day 2024, a series of public awareness advertisements have been launched to emphasise the importance of value-added tax (VAT).The advertisements, created by advertising agency Outbox Limited, is centred around the theme "Apnake Manay Na", says a statement.The theme "Apnake Manay Na" is designed to...

Citizens Bank holds Annual Risk Conference

Citizens Bank PLC arranged 'Annual Risk Conference-2024' at its head office at Motijheel in Dhaka recently. Mohammad Masoom, Managing Director & CEO of the bank, presided over the conference attended by divisional heads, branch managers and other officials of the bank.

COMMUNITY BANK HOLDS AML & CFT CONFERENCE

Community Bank Bangladesh PLC organised 'Anti-Money Laundering & Combating Terrorist Financing Conference 2024' at the bank's Head Office in Dhaka recently. The bank's Managing Director (Current Charge) Mohammad Abdul Qaium Khan presided over the conference. Shamsul Haque Sufyani, CAMELCO & Chief Operating Officer (COO), and Sarfuddin Md. Redwan Patwary, DCAMELCO...

Trump's Musk-led efficiency drive may spur defence-tech partnerships

CALIFORNIA, Dec 09 (Reuters): President-elect Donald Trump's planned US government efficiency drive involving Elon Musk could lead to more joint projects between big defence contractors and smaller tech firms in areas such as artificial intelligence, drones and uncrewed submarines, according to interviews with company executives.Musk has indicated that Pentagon spending...

India antitrust body seeks SC hearing to expedite Amazon, Flipkart cases

NEW DELHI, Dec 09 (Reuters): India's antitrust body has asked the Supreme Court to hear legal challenges to an investigation of Amazon and Walmart's Flipkart e-commerce platforms, saying those challenges, filed by Samsung, Vivo and others at Indian high courts, were aiming to scuttle the probe.In a filing on Dec....

Bankruptcies of Japan set to hit 11-year high in 2024

TOKYO, Dec 09 (Reuters): Japan's bankruptcy filings this year are set to surpass 10,000 and hit the highest since 2013, private-sector data by Tokyo Shoko Research (TSR) showed on Monday, ahead of a closely watched central bank meeting next week.In November, 841 Japanese companies went bankrupt, bringing the January-November tally...

Americans face challenges as health insurance costs rise and delays mount

NEW YORK, Dec 09 (Reuters): Jen Watson, a 41-year-old mother in Federal Way, Washington, has worked for years with her doctor to find the right medications to deal with her multiple chronic illnesses, which include epilepsy and fibromyalgia.Her doctor had found some medications that could reduce Watson's nerve pain, but...

Domino's Pizza eyes digital growth with new franchise deal

LONDON, Dec 09 (Reuters): The UK's Domino's Pizza Group (DPG) has reached a new five-year agreement with its franchise partners, it said on Monday, as the fast-food chain looks to expand its store network and increase investment in its digital platform.The new Profitability and Growth Framework, which the company said...

Central Bank of Egypt sells $1b treasury bills as yields hit record highs

RIYADH, Dec 09 (Arab News): The Central Bank of Egypt sold three-month treasury bills worth 52.75 billion Egyptian pounds ($1.03 billion) in its latest auction on Dec. 8.According to data from the institution, this amount exceeded the targeted collection of 35 billion pounds by more than 50 per cent.Investors submitted...