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

Wider tax gap will bring good IPOs: Stakeholders

Market stakeholders urged the revenue authority to widen the corporate tax rate gap to at least 10 percentage points between listed and non-listed firms so that good companies feel encouraged to float shares to the public. At present, listed firms, except for banks, insurers, financial institutions, mobile operators, and tobacco...

Chinese company to set up high-end garments facility in Mongla EPZ

Safety Garments Bangladesh Co Ltd., a Chinese company, is set to invest US$ 12.25 million in Mongla Export Processing Zone (EPZ) to establish a high-end garments manufacturing facility, reports BSS. The Bangladesh Export Processing Zones Authority (BEPZA) signed an agreement with the company to this end at the BEPZA Complex...

Stocks down on short term profit frenzy

Stocks declined on Monday as investors rushed to secure short-term profits. The prime index of the Dhaka Stock Exchange (DSE) fell 16.50 points to settle at 5,205.The capital market continued its downward spiral from the previous session as cautious selling pressure persisted among investors. However, a slight uptick in investor...

Another Walton fridge buyer gets Tk 1.0 million

Ali Martuza, a small trader from Jatrabari in Dhaka, won Tk 1 million as part of the 'Millionaire' offer under the Walton's ongoing Digital Campaign Season-22 after purchasing a Walton-brand refrigerator. Earlier, Rasel Fakir, a college student from Charbhadrasan upazila in Faridpur, and Khokon Mia, a farmer from Netrakona, were...

PRIME BANK PARTNERS WITH AS-SUNNAH FOUNDATION FOR CHARITABLE WORK

Prime Bank signed an agreement with As-Sunnah Foundation at the bank's Gulshan corporate office in the capital recently. According to the agreement, Prime Bank will collect deposits under the `Sadaqah Jariyah' account and invest the money based on the Mudaraba principle, ensuring ethical and Shariah-compliant financial growth. The accumulated profits...

SHIPPERS' COUNCIL HOLDS EMERGENT MEETING

An emergent meeting of the Board of Directors of Shippers' Council of Bangladesh (SCB) was held on Sunday at its office in Dhaka, with its Chairman Md Rezaul Karim in the chair. The meeting approved the minutes of the previous meeting & accounts statement. The meeting decided to organise a...

UNION BANK HOLDS AUDIT COMMITTEE MEETING

The 8th meeting of the newly formed Audit Committee of the Union Bank PLC was held at the bank's Head Office in the city on Monday. Chairman of the Audit Committee Sheikh Zahidul Islam presided over the meeting. Committee members, Independent Director Mohammad Saiful Alam and Managing Director and CEO...

BGIC PAYS FIRE INSURANCE CLAIM CHEQUE TO VIP INDUSTRIES

VIP Industries Ltd., insured by Bangladesh General Insurance Company (BGIC) PLC, faced a devastating fire at its VIP-1 Bag Factory in Mangla EPZ, Khulna, on January 31, 2023. Following the incident, VIP Industries applied to BGIC for an advance payment. BGIC recovered Tk 110 million from foreign reinsurers through Broker...

Investors want India to lower long-bond supply in fiscal year 2026

MUMBAI, March 17 (Reuters): Indian bond market participants want the government to lower supply of ultra-long debt in the fiscal year that starts April 1, five treasury officials said on Monday.India's central bank, the government's debt manager, met market participants over last week to seek views on the borrowing plan."The...

Samsung needs 'do-or-die' mindset to survive AI challenges

SEOUL, Mar 17 (AFP): Samsung Electronics must adopt a "do-or-die" mindset, its chairman told executives, to confront the challenges posed by artificial intelligence that are upending the industry, Yonhap news reported Monday.South Korean giant Samsung has been struggling to meet Nvidia's requirements as rival SK hynix has become the US...

Tata Motors, Maruti to hike vehicle prices

NEW DELHI, Mar 17 (Reuters): Automakers Tata Motors and Maruti Suzuki India said on Monday that they will increase the prices of vehicles to offset raw material and operational costs.Tata Motors will hike prices of its commercial vehicles, including trucks and buses, by up to 2 per cent from April,...

China retail sales pick up as Beijing turns to consumers to ease US trade pressure

BEIJING, Mar 17 (Reuters): China's retail sales growth quickened in January-February in a welcome sign for policymakers' efforts to boost domestic consumption even as joblessness rose and factory output eased, underscoring the strains on an economy facing fresh US trade pressure.Policymakers have put expanding domestic demand as the top priority...

UK businesses eyeing Middle East investments

RIYADH, Mar 17 (Arab News): Interest among UK business leaders in the Middle East as a key investment hub has doubled to 36 percent, driven by the region’s economic transformation and strategic appeal, a new survey has revealed.The study, conducted by communications consultancy Pagefield, surveyed over 200 senior figures across...

Nvidia CEO to defend AI dominance as competition intensifies

NEW YORK, Mar 17 (Reuters): When Nvidia CEO Jensen Huang takes the stage this week for the company's annual software developer conference, he will defend his nearly $3 trillion chip company's dominance as pressure mounts on its biggest customers to rein in the costs of artificial intelligence.Nvidia's conference comes after...