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

Assets of S Alam Group may help salvage Islami Bank

To salvage Islami Bank Bangladesh the interim government will have to recover money by seizing all assets of S Alam Group responsible for the present sorry state of the lender. S Alam Group and its sister concerns have reportedly taken around Tk 500 billion in the last seven and a...

DSE stocks buoyant on return of blue chips' dominance

Some 60 per cent of the listed securities traded on Tuesday on the Dhaka bourse declined. But the market closed the day's session with a sharp rise, supported by fundamentally-strong stocks. These stocks played a key role in driving up the market, except for two sessions, since the fall of...

BRAC Bank gives Tk 20m for injured in student movement

BRAC Bank has announced the allocation of Tk 20 million from its Corporate Social Responsibility fund to support the treatment of students and other individuals wounded during the recent movement. The bank's Independent Directors also pledged to contribute with the money equivalent to a month of their salary to the...

Chinese co comes with $6.70m investment proposal for UEPZ

Chinese company Meigo (Bangladesh) Ltd will invest US$6.70 million to set up a Collectable items and toys manufacturing factory at Uttara Export Processing Zone (UEPZ) in Nilphamari, reports BSS.In this connection, Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company at the BEPZA Complex in the city...

Tasty Treat opens outlet in Saidpur

'Tasty Treat,' the country's popular fast food retail brand, has recently opened an outlet at Saidpur in Nilphamari.Ibrahim Khalil, Chief Operating Officer of Tasty Treat, inaugurated the outlet at the Zikrul Haque road in Saidpur, says a press release. Zakaria Hossain, General Manager of Banga Millers factory of PRAN, Manwar...

36th AGM of Federal Insurance Co. Ltd.

Enamul Hoq, Chairman of Federal Insurance Co. Ltd., presided over the 36th Annual General Meeting held at the head office of the company at Panthapath in Dhaka through a hybrid system on Wednesday. Managing Director and Chief Executive Officer A M M Mohiuddin Chowdhry was also present in the meeting,...

Google launches enhanced Pixel phones in bid to leverage AI tech

WASHINGTON, Aug 14 (Reuters): Alphabet's Google on Tuesday unveiled a lineup of new Pixel smartphones with deeper integrations of its artificial intelligence technology as it races to incorporate AI into its hardware.The upgrades include a Pixel-only feature that lets users search for information stored in screenshots. Android users can also...

China firm claims world’s fastest-charging EV battery

BEIJING, Aug 14 (BBC): Chinese car maker Zeekr says its new electric vehicle (EV) batteries charge faster than any of its rivals, including industry leaders Tesla and BYD.The firm claims its upgraded batteries can be charged from 10 per cent to 80 per cent capacity in 10 and a half...

KSA extends waiver on expat fees for industrial sector employees

RIYADH, Aug 14 (Arab News): The Kingdom of Saudi Arabia (KSA) on Tuesday announced an extension of its waiver on fees for expatriate workers in the industrial sector, continuing a policy first introduced in 2019.This decision, effective until Dec. 31, 2024, is part of the Kingdom's broader strategy to stimulate...

Global banks' tech revival sparks hope for $254b Indian IT sector

BENGALURU, Aug 14 (Reuters): Global banks have started reviving the technology projects they put on ice in 2023, raising hopes for the $254 billion Indian IT sector that makes about a third of its revenue from banking, financial services and insurance (BFSI) clients.Quarterly reports from Tata Consultancy Services (TCS), Infosys,...

Asian bonds attract hefty inflows on US rate outlook, strong exports

Foreign investors were net buyers of Asian bonds for the third consecutive month in July, spurred by strong regional export growth and expectations of a September rate cut by the US Federal Reserve, reports Reuters.Overseas investors purchased a net $7.91 billion worth of bonds in Indonesia, India, Malaysia, South Korea...

Saudi Arabia poised to ignite Islamic insurance boom in GCC: report

RIYADH, Aug 14 (Arab News): Saudi Arabia is poised to lead the expansion of Islamic insurance in the Gulf Cooperation Council, with revenues expected to exceed $20 billion in 2024, according to S&P Global. The sector is projected to grow by 15 to 20 percent next year, with the Kingdom...

Gulf shares gain on oil boost; US inflation in focus

Stock markets in the Gulf rose in early trading on Wednesday as oil prices climbed, while investors braced for a key US inflation reading later in the day, reports Reuters.Oil prices, a catalyst for the Gulf's financial markets, rose on a drop in US crude stockpiles and concerns of a...