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

Brokers, issuers in limbo as securities regulator remains non-functional

The securities regulator has been unable to function for nearly two weeks in absence of three key members -- two commissioners and chairman - keeping issuers and other stakeholders in limbo. Orders on issues that require approval of the commission will remain suspended until it gets at least three members....

Stocks fall as investor enthusiasm evaporates

Stocks ended lower on Sunday as cautious investors chose to liquidate their holdings, worried over a probable shift in market momentum.The prime index of the Dhaka Stock Exchange (DSE) fell 125.19 points to settle at 5,778.64.The premier bourse of the country observed a setback led by heavy sell pressure in...

India central bank asks banks to push direct rupee-dirham settlement, sources say

MUMBAI, Aug 18 (Reuters): The Indian central bank has told banks that deal with the United Arab Emirates (UAE) to settle at least a part of their trade payments directly using the rupee and dirham, according to five banking sources.The Reserve Bank of India (RBI) hasn't given banks a specific...

Al-Arafah Islami Bank elects Alhajj Salim Rahman as chairman

Alhajj Salim Rahman has been selected for the role of chairman at the Al-Arafah Islami Bank.He was elected unanimously in the 403rd board meeting of the bank, which took place on Sunday.Rahman, the son of Alhajj Khalilur Rahman, hails from a Muslim family of Chattogram. His father is a prominent...

SOUTHEAST BANK ORGANISES "BUSINESS REVIEW MEETING"

Southeast Bank PLC has held its monthly "Business Review Meeting," presided over by the bank's Managing Director Nuruddin Md Sadeque Hossain. The meeting focused on reviewing the bank's recent business performance, with a strong emphasis on leveraging the latest technology and enhancing customer satisfaction. Key areas of the discussion were:...

SHAHJALAL ISLAMI BANK SIGNS REMITTANCE AGREEMENT WITH ATLANTIC XCHANGE

Shahjalal Islami Bank PLC has signed a remittance drawing agreement with the US based remittance company, Atlantic Xchange LLC, at the bank's Corporate Head Office. The bank's Managing Director Mosleh Uddin Ahmed and the remittance company's Managing Director & President Ghayat Habbab signed the agreement. Atlantic Xchange is a leading...

Shahjalal Fertiliser Factory resumes production

SYLHET, Aug 18 (UNB): Shahjalal Fertiliser Company Limited (SFCL) in Sylhet resumed production partially on August 06 after around five months of closure due to gas crisis.The factory restarted operations following the collapse of the Sheikh Hasina-led government on August 05.The factory now owes Tk 7.79 billion to Jalalabad Gas...

FBCCI seeks security of businesses

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Saturday requested the interim government to ensure safety and security of businesses to maintain economic growth. During a courtesy call on newly appointed Home Adviser Lt. Gen. (Retd.) Jahangir Alam Chowdhury at his Baridhara residence in the capital, FBCCI...

STANDARD BANK LEARNING CENTRE ORGANISES TRAINING

Standard Bank Learning Centre organised a daylong training on 'Understanding UCP & ISBP' for Foreign Trade officials of the bank on Saturday. Mohammad Mohon Miah, Managing Director & CEO (Acting) of the bank, inaugurated the training as the chief guest while Md. Siddiqur Rahman, Deputy Managing Director & COO, was...

Saudi insurance firm Al-Etihad receives A3 rating from Moody’s

RIYADH, Aug 18 (Arab News): Saudi-based Al-Etihad Cooperative Insu-rance Co. has been awarded an A3 financial strength rating by Moody's, reflecting the firm's strong market position in the Kingdom. Moody's attributed the A3 rating to Al-Etihad's solid asset quality, strong capital adequacy, and relatively low volume of high-risk assets. Al-Etihad,...

Jordan's industrial sector contributes 21.7pc to GDP

RIYADH, Aug 18 (Arab News): Jordan's industrial sector has made a significant contribution to the nation's economy, accounting for 21.7 per cent of the gross domestic product in the first quarter, data showed.This achievement highlights the effectiveness of the government's strategic initiatives aimed at bolstering industrial growth and modernization.Industrial production...

Chipmaker Texas Instruments to receive up to $1.6b in funding from US

WASHINGTON, Aug 18 (Reuters): Texas Instruments said on Friday it would receive up to $1.6 billion in funding from the US Commerce Department towards the construction of three new facilities, the latest government outlay aimed at bolstering domestic chip production.The funding, under the US CHIPS and Science Act, will help...

S&P 500 rebounds as 'soft landing' hopes boost US stocks

NEW YORK, Aug 18 (Reuters): Hopes for an economic soft landing are once again powering US stocks, opens new tab higher, as encouraging data relieve recession worries following a brutal sell-off earlier this month.The S&P 500 has rebounded more than 6 per cent since August 5, when a steep drop...

India regulatory chief earned revenue in potential rules violation, documents show

MUMBAI, Aug 18 (Reuters): The head of India's markets regulator, Madhabi Puri Buch, continued to earn revenue from a consultancy firm during her seven-year tenure, potentially breaching rules for regulatory officials, according to public documents reviewed by Reuters.Hindenburg Research has alleged a conflict of interest in Buch's investigations surrounding the...

Companies need more AI competency at board level, Norway's wealth fund says

ARENDAL, Norway, Aug 18 (Reuters): Companies need to do more to get to grips with AI at board level to govern how it is being used and to minimise risks, a top official at Norway's $1.7 trillion sovereign wealth fund, one of the world's largest investors, told Reuters.Norges Bank Investment...