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

Stocks to remain gloomy even after fall in T-bond rates

The declining trend in the yields of Treasury bonds is unlikely to make a positive impact on the equity market as investors will be driven to safer schemes for better return.The interim government has started reducing the interest rates of government bonds in September because of its lower appetite for...

Doreen Power's asset revaluation shows its diminishing lifeline

Listed electricity producer Doreen Power saw its assets' value cut in a revaluation of its three plants of 66 megawatts as they stopped operations upon expiry of contracts with the government.A revaluation done by K. M. Alam & Co. Chartered Accountants reduced the value of the plants' assets by 46...

Improve financial health by curbing NPLs: BB to banks

The central bank governor, on Wednesday directed the boards of two more crisis-ridden commercial banks to improve their financial health through paying more focus on cash recovery to recoup their soaring non-performing loans (NPLs).As part of Bangladesh Bank's (BB) moves to resuscitate the country's troubled banks, BB Governor Dr Ahsan...

Chinese company to invest US$ 5.85m in Adamjee EPZ

JIDALAI Co. Ltd. is going to invest US$ 5.85 million to set up a Pullers of Zipper manufacturing industry in Adamjee Export Processing Zone (AEPZ). This Chinese company will produce annually 70 million pullers of zipper where 189 Bangladeshi nationals will get jobs, says a press release. JIDALAI Co. is...

Berger Paints presents wood coating products at National Furniture Fair

Berger Paints, a leading paint solution provider in Bangladesh, is taking part in the 19th National Furniture Fair, organised by the Bangladesh Furniture Industry Owners Association at the International Convention Center Bashundhara (ICCB). The fair that began on October 15 will run up to October 19, with daily visiting hours...

ICSB team meets BSEC chairman

Council Members of the Institute of Chartered Secretaries of Bangladesh (ICSB) led by its Senior Vice President M Nurul Alam called on Khondoker Rashed Maqsood, Chairman, Bangladesh Securities and Exchange Commission (BSEC) at his office in Sher-e-Bangla Nagar, Dhaka on Tuesday. On behalf of the delegation, the Senior Vice President...

Union Bank holds Board meeting

The 6th Board Meeting of the newly formed Board of Directors of Union Bank PLC was held at the head office of the bank on Tuesday, with the participation of all members of the Board. Chairman of the Board Md Fariduddin Ahmed presided over the meeting, says a statement.The meeting...

EBL, MEEKA PHARMACARE SIGN PAYROLL BANKING AGREEMENT

M. Khorshed Anowar, deputy managing director of Eastern Bank Limited (EBL), and Md. Niamul Karim, managing director of Meeka Pharmacare, signed a payroll banking agreement at the bank's head office in Dhaka recently. Under the agreement, employees of Meeka Pharmacare, an importer and supplier of pharmaceutical ingredients and lab equipment,...

PRIME BANK TO PROVIDE PAYROLL SOLUTION TO MART PROMOTERS

Prime Bank recently signed a new payroll agreement with Mart Promoters at the latter's office in Chattogram. Under this agreement, Mart Promoters (retail industry) employees will enjoy a seamless payroll management solution that will streamline salary disbursements and offer exclusive banking services like digital banking solutions, financial services and reduced...

Social Islami Bank holds business review meeting -

Social Islami Bank arranged a business review meeting at the bank's head office on Tuesday. Managing Director (Acting) Mohammad Forkanullah was present as the chief guest. Deputy Managing Director Abdul Hannan Khan, Head of Managing Director's Secretariat & Investment Wing Md. Nazmus Saadat along with senior officials were present at...

Shahjalal Islami Bank holds Executive Committee (EC) meeting

The 883rd meeting of the Executive Committee (EC) of Shahjalal Islami Bank PLC (SJIB PLC) was held at the Corporate Head Office of the bank recently. The meeting was presided over by Akkas Uddin Mollah, the Chairman of Executive Committee (EC) of the bank. The members of the committee discussed...

Inflows into Asian bonds slow on caution over US rate cuts, elections

Asian bond markets attracted overseas investments for the fifth consecutive month in September, though the pace of inflows slowed due to diminished expectations for further rate cuts by the US Federal Reserve and caution ahead of US elections, reports Reuters.Cross-border investors bought local bonds in Indonesia, India, Malaysia, South Korea...

Adverse weather curbs Thai, Chinese rubber output, lifting prices to 13-year high

SINGAPORE, Oct 16 (Reuters): Excessive monsoon rains following a drought in the world's top rubber producer Thailand and typhoon damage in No. 5 grower China are reducing output of the tyre-making material, dragging down production prospects and lifting prices to 13-year highs.The output of natural rubber, which is largely produced...

UK inflation hits 3-year low, fuelling rate-cut hopes

LONDON, Oct 16 (AFP): Britain's annual inflation rate fell to a three-year low in September, official data showed Wednesday, fuelling speculation that the Bank of England will resume cutting interest rates next month.The Consumer Prices Index (CPI) reached 1.7 percent last month, well below the BoE's two-percent target, after hitting...

Minister-MyOne Group becomes distributor for CHIGO Group

Bangladesh's leading electronics and home appliance company, Minister-MyOne Group, recently signed a memorandum of understanding (MoU) with China's world-renowned electronics brand, CHIGO Group. Under the agreement, Minister-MyOne Group will work as a marketing, sales and after-sales service provider of CHIGO brand air conditioners (AC) in Bangladesh. M A Razzak Khan...