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

United Power's Q1 profit surges 127pc, fuelled by bulk power tariff hike

United Power Generation & Distribution Company posted an impressive 127 per cent year-on-year growth in profit to Tk 4.19 billion in the first quarter through September of FY25, driven by bulk power tariff hike and stable foreign exchange rates.The power generation company's consolidated earnings per share (EPS) jumped to Tk...

Square Pharma's revenue falls marginally as political unrest disrupts supply

Square Pharmaceuticals has experienced a marginal year-on-year decline in revenue in July-September (Q1), FY25 as sales dropped amid political unrest and floods during the period.The company's revenue fell 0.34 per cent year-on-year to Tk 17.75 billion in Q1, FY25.Still, Square Pharma secured a 1.15 per cent year-on-year growth in the...

Focus on ‘area-based research to conserve local breeds’

Fisheries and Livestock Adviser Farida Akhter has laid emphasis on research to conserve the indigenous breeds. "Many of the indigenous breeds are now on the verge of extinction, and that is why attention should be given to prevent those from disappearing. So, there is no alternative of local area-based research,"...

Govt asks private sector to import 327,000 tonnes rice in one month

The government has asked the private sector to import 327,000 tonnes of rice within one month, aiming to further regulate the price of the staple food in the retail market, reports BSS.A total of 59 rice importers have already received government approval to import the rice. Of the total amount...

Union Bank hopes to regain strength soon

Union Bank's overall performance has been steadily improving after the Bangladesh Bank (BB) restructured its board in August this year.The central bank on August 27 formed a five-member board of directors to operate the bank, with former Islami Bank's managing director Fariduddin Ahmed as chairman.In a statement, the bank said...

SHAHJALAL ISLAMI BANK RECEIVES AWARDS FROM SAFA

Shahjalal Islami Bank was given three prestigious awards from South Asian Federation of Accountants (SAFA). SAFA awarded the bank first prize (gold award) in the 'SAARC Anniversary Award in corporate governance category, second prize (silver award) in the 'Private Sector Banks' category and 'Certificate of Merit' for best presented 'Annual...

PRIME BANK SIGNS PAYROLL AGREEMENT WITH JALALABAD METAL

Prime Bank recently signed a payroll agreement with Jalalabad Metal at the bank's corporate office. Under the agreement, employees of Jalalabad Metal will enjoy preferential banking services including credit card and loan facilities from the bank. They will also enjoy PrimePay, a portal to enable seamless automated salary, for carrying...

Daraz 11.11 shopping festival kicks off

The highly anticipated Daraz 11.11 shopping festival -- the Biggest Sale of the Year -- kicked off with an overwhelming response, attracting excited shoppers from across the country. The shopping festival will run until November 21, says a statement. Top Trending Categories On day one, health & beauty, grocery, and...

28th AGM OF MIDAS FINANCING HELD

The 28th Annual General Meeting of MIDAS Financing PLC was held at MIDAS Convention Centre at Dhanmondi in Dhaka on Thursday. The meeting was presided over by Abdul Karim, Chairman of the Board of Directors. Members of the Board Gulam Rahman and Nazneen Sultana were present in the meeting, Mustafizur...

ACI POWER JOINS POWER BANGLADESH INTERNATIONAL EXPO

ACI Power Solution, a leading business unit under ACI Motors Ltd, is participating in the 26th Power Bangladesh International Expo at the International Convention City Bashundhara (ICCB) in Dhaka. The expo, which began on Thursday, will run until November 16. At the expo, the company is showcasing its newly integrated...

METROCEM CEMENT HOSTS VROMON UTSOB

Metrocem Cement Ltd. recently hosted over 500 top-performing retailers at a two-day event, 'Vromon Utsob-2024', held in Cox's Bazar, focusing on engagement and growth. Managing Director Md. Shahid Ullah welcomed the participants, emphasising Metrocem Cement's commitment to advancing Bangladesh's infrastructure with its high-quality cement products. Chief Business Officer Asadul Haque...

Russian farmers rush to sell grain to profit from high interest rates

MOSCOW, Nov 14 (Reuters): Russian farmers appear to be changing their habit of withholding excess grain for better times amid low global prices, as high interest rates make it attractive to cash in and deposit money in banks at home, analysts said.The Russian central bank hiked its key interest rate...

Cross-border challenges widen Europe-US wealth gap

BRUSSELS, Nov 14 (Reuters): Cross-border challenges are widening the gap between the output of Europeans and Americans, who have been moving ahead since the 1990s, a study by the International Monetary Fund showed.The European Union's GDP per capita measured with purchasing power parity is now around 72% of the United...

Trump-election stock market rally cannot continue uninterrupted, says Peltz

NEW YORK, Nov 13 (Reuters): Hedge fund manager Nelson Peltz, who backed president-elect Donald Trump this year, said the election-fueled stock market rally cannot continue uninterrupted."Trees don't grow to the sky. Definitely not uninterrupted," Peltz said at the CNBC Delivering Alpha conference when asked whether stocks can continue to zoom...

Why is the euro falling and could it hit $1?

LONDON, Nov 14 (Reuters): The euro has fallen to one-year lows, reviving talk the currency could hit the $1 mark. Donald Trump's US election win raises the prospect of a hike in tariffs that could deal a fresh blow to the euro zone economy.At around $1.05 , the euro has...