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

Diagnosis of Global Islami Bank: Signs condoned as it raises public money

Global Islami Bank (GIB) showed a remarkable 28 per cent year-on-year surge in profit in 2021, the year before its listing, while its cash flow was negative.Negative cash flow from operations was almost double the profit earned that year. Then the year after the listing, the lender's income plunged 27...

Confidence Cement to issue rights shares

Confidence Cement has decided to issue rights shares to raise Tk 1.29 billion for investment in an associate company named Confidence Cement Dhaka and for repayment of term loans.The Chittagong-based cement manufacturer will issue one right share for every 3 existing shares at Tk 45 each, including Tk 35 as...

MTB FOUNDATION SUPPORTS FLOOD VICTIMS OF FENI

MTB FOUNDATION SUPPORTS FLOOD VICTIMS OF FENIMutual Trust Bank (MTB) Foundation recently distributed relief materials while also have been providing financial support for hiring boats, speedboats and lifejackets for the flood victims of Feni. With the situation worsening every moment, MTB Foundation believes that this timely intervention will bring about...

UCB REITERATES COMMITMENT TO CUSTOMERS

UCB REITERATES COMMITMENT TO CUSTOMERS United Commercial Bank (UCB) organised a virtual town hall meeting on Monday. All level employees and executives of the bank including all the branch managers and heads of different departments of UCB and subsidiaries participated in the meeting through the virtual platform Zoom. UCB Chairman...

India's mutual fund assets rise to record high in August; thematic funds lead equity inflows

BENGALURU, Sept 10 (Reuters): India's total mutual fund assets jumped to an all-time high of 66.7 trillion rupees ($794.45 billion), as of August-end, adding about 16 trillion rupees in 2024.Inflows into equity mutual funds rose 3 per cent sequentially to 382.39 billion rupees in August, just shy of the record...

Major Gulf markets gain, key US inflation data in focus

Major stock markets in the Gulf rose in early trade on Tuesday ahead of a key US inflation data that could affect the size of the Federal Reserve's interest rate cut next week, reports Reuters.Investors remained focused on the US consumer price index report, due Wednesday, which would likely provide...

Netherlands keen to invest in BD's pharmaceutical, ICT sectors

Netherlands has expressed keenness to invest in the ICT and pharmaceutical sectors of Bangladesh to reap benefits from the growing potential of these items in both the domestic and international markets, reports BSS.Netherlands Ambassador to Bangladesh Irma van Dueren on Tuesday expressed the interest while meeting with Interim Government's Adviser...

BAB gets new chairman, vice chairmen

Abdul Hai Sarker, Chairman of the Board of Directors of Dhaka Bank PLC, has been elected Chairman of Bangladesh Association of Banks (BAB) while Mohammad Abdul Mannan, Chairman, the Board of Directors of First Security Islami Bank PLC, and Romo Rouf Chowdhury, Chairman, Board of Directors of Bank Asia PLC,...

China seeks to negotiate with EU to resolve EV tariff dispute

BEIJING, Sept 10 (Reuters): China has renewed its offer for talks with the European Commission to address economic and trade frictions to try to ease impending punitive tariffs on China-made electric vehicles.During a meeting with the European Commission's director general for trade in Brussels on Monday, Vice Commerce Minister Li...

BRAC Bank hosts workshop for women entrepreneurs

BRAC Bank's women banking segment, TARA, has recently organised a Digital Skill Development Workshop styled 'UddogTARA' for women entrepreneurs focused on enhancing their digital business skills.A total of 70 aspiring women entrepreneurs participated in the daylong workshop, says a press release.This first-of-its-kind workshop shows the bank's commitment to empowering promising...

Prime Islami Life Ins greets IDRA Chairman

Prime Islami Life Ins greets IDRA Chairman Managing Director and CEO of Prime Islami Life Insurance Limited Md Shamsul Alam congratulated newly appointed Chairman of Insurance Development and Regulatory Authority (IDRA) Dr. M Aslam Alam with a bouquet at his office on Tuesday. The company's Deputy Managing Director and In-charge...

Vision offers free repair service in flood-hit areas

Vision, a popular electronics brand of RFL Group, is providing free repair service for electronics appliances of any brand that have been damaged by flooding in different districts of the country. The service campaign has already been introduced in Cumilla, Feni, Laxmipur and Noakhali, says a press release.Mohit Chakraborty, Head...

China plans to include steel, cement and aluminium in its carbon market in 2024

BEIJING/SINGAPORE, Sept 10 (Reuters): China is seeking public feedback on a plan to include cement, steel and aluminium production in its carbon emissions trading scheme by the end of the year, the Ministry of Ecology and Environment said on Monday.Including these three additional sectors could bring the greenhouse gas covered...