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

GP's profit shrinks in Q2, driven by higher costs, foreign exchange loss

Grameenphone's profit dropped almost 28 per cent year-on-year to Tk 8.61 billion in the April-June quarter this year, owing to higher operational costs and foreign exchange loss.The leading telecom company's revenue, however, grew 5.6 per cent year-on-year to Tk 42.2 billion in the second quarter through June this year, riding...

Wobbly economy cuts by half profit of LafargeHolcim

LafargeHolcim Bangladesh witnessed a 53 per cent year-on-year decline in profit in the second quarter through June (Q2) this year due to lower sales amid lingering macro-economic challenges.The cement manufacturer's sales dropped 8 per cent year-on-year to Tk 6.16 billion in the quarter, according to its financial statements published on...

Trust Bank holds 25th AGM

The 25th Annual General Meeting (AGM) of Trust Bank Limited was held on a digital platform on Tuesday. Maj Gen Md Jubayer Salehin, Vice Chairman of the bank, presided over the meeting. Among others, members of the Board Brig Gen S M Zia-Ul-Azim, Brig Gen Md Kaisar Hasan Malik, Brig...

Nagad's ED made Fintech standing committee chairman at BASIS

Niaz Morshed Elite, executive director at Nagad Ltd., has been appointed as the chairman of the Standing Committee on FinTech and Digital Payment at Bangladesh Association of Software and Information Services (BASIS).This appointment reflects Nagad's key role in the fintech and digital payment landscape of Bangladesh. With Niaz Morshed Elite's...

Banglalink and ICMAB host knowledge sharing session for accountants

Banglalink, the country's leading digital operator, collaborated with the Institute of Cost and Management Accountants of Bangladesh (ICMAB) to organise a seminar aimed at sharing cross-industry best practices among professionals on ethics and compliance in business operations.This session contributed to the participants' perspectives on incorporating ethics into corporate frameworks to...

MTB celebrates winning digital bank award

Mutual Trust Bank (MTB) is proud to announce its recognition as the most innovative digital bank-Bangladesh 2024 by International Finance. This prestigious award underscores MTB's commitment to revolutionising the banking landscape through its industry-oriented digital products and services, reads a press statement.MTB has introduced MEasy, a revolutionary branchless banking platform...

Prime Bank Partners with Syngenta Bangladesh

Prime Bank has signed a Memorandum of Understanding (MoU) with Syngenta Bangladesh Limited at the head office of Syngenta Bangladesh Ltd in Dhaka. Under the agreement, Prime Bank will provide mortgage free overdraft loans up to Tk 1 crore to Syngenta's distributor. Md. Nazeem A. Choudhury, deputy managing director of...

Mercantile Bank holds Performance Review Meeting

Half-yearly performance review meeting-2024 of Mercantile Bank was hold at Hotel Momo Inn Bogura on July 13, 2024. The heads of 16 branches and in-charges of 8 sub-branches of the bank's North Bangal zone participated in the conference. Md. Quamrul Islam Chowdhury, managing director of the bank, was chief guest...

Midland Bank begins Customer Service Feedback Survey

Midland Bank introduced Online Customer Service Feedback Survey Programme, which will be held on quarterly basis, titled "Feedback & Win". The results of the feedback are being used to improve the service standards and products of the bank. A prize-giving ceremony of the June quarter winners was held on July...

Expand crab farming to boost export earnings

With the global demand for crabs on the rise, expanding crab farming in Bangladesh presents a significant opportunity for the country to boost its export income, experts said at a workshop, reports BSS. Developing this sector requires increased research and collaboration between the government and non-government entities, they said. The...

Turkey to lift minimum retirement pay, impose corporate tax

ANKARA, July 16 (Reuters): Turkey's ruling party sent a bill to parliament on Monday that would lift the minimum pension by 2,500 lira to 12,500 ($378) per month and, as expected, impose a minimum corporate tax on large multi-nationals.The government had earlier said it had no plan to increase this...

SCB Board meeting held--

The 3rd meeting of the Board of Directors of Shippers' Council of Bangladesh (SCB) for the term 2024 & 2025 was held on Tuesday at its office at Dhanmondi in Dhaka, with its Chairman Md. Rezaul Karim in the chair, says a press release. The meeting approved the minutes of...

IMF revises Saudi GDP growth down on oil cuts

DUBAI, July 16 (Reuters): The International Monetary Fund on Tuesday revised downwards Saudi Arabia's economic growth by nearly one percentage point, mainly due to oil production cuts.The revision was the biggest among major economies and dragged down the rest of the Middle East and North Africa region, which is projected...

For global investors, China is a slow-burning trade

NEW YORK/SINGAPORE, July 16 (Reuters): For global investors with money in China's stock markets, the latest economic numbers are not of any comfort and just a reminder that the recovery they are betting on will take a while to happen.Monday's second-quarter growth figures in China pointed not only to an...

North Korean hackers sent stolen crypto to wallet used by Asian payment firm

LONDON, July 16 (Reuters): A major Cambodian payments firm received crypto worth over $150,000 from a digital wallet used by North Korean hacking outfit Lazarus, blockchain data shows, a glimpse of how the criminal collective has laundered funds in Southeast Asia.Huione Pay, which is based in Phnom Penh and offers...