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

IPO of NRB Commercial Bank approved

The securities regulator has approved the IPO (initial public offering) proposal of NRB Commercial Bank under the fixed price method.The fourth generation commercial bank will raise a capital worth Tk 1.2 billion issuing 120 million ordinary shares of Tk 10 each.The company will utilise the IPO proceeds to purchase government...

Local CBS to help thrive banking sector

With the global economic slowdown and widespread budget cuts, country's local banks can save the Foreign Currency (FC) spending enormously, if they go for locally developed Core Banking System (CBS) & other Banking / FinTech Solutions. According to Mahmud Hossain, Managing Director & CEO of Millennium Information Solutions Ltd the...

Summit Group Chairman recognized as Asia's Outstanding Leader

Muhammed Aziz Khan, Founding Chairman of Summit Group of Companies, has been hailed as one of Asia's Outstanding Leaders at the ACES Awards 2020, organised by MORS Group. He was recognized by the Jury Panel for his outstanding leadership and was 1 of only 7 winners representing Singapore at this...

Daniel new Director of MTB

Daniel de Lange, as the representative of Norfund (The Norwegian Investment Fund for developing countries), has recently replaced Herbert Ludwig Jaeger and been appointed as a Director of Mutual Trust Bank Limited (MTB), said a statement. Norfund holds 9.53 per cent of the outstanding shares of MTB. Norfund is owned...

DSE daily turnover tumbles nearly four-month low

The daily trade turnover on the prime bourse tumbled to nearly four months low on Wednesday as investors were reluctant to make fresh investment in stocks amid rising trend of Covid-19 infections.Turnover, a crucial indicator of the market, stood at Tk 5.45 billion on the country's premier bourse, plunging further...

Green Delta Insurance wins WEF's New Champion Award

After earning AAA credit rating 7 years in a row, Green Delta Insurance won another global recognition on Monday at the "Pioneers of Change Summit 2020" by World Economic Forum (WEF) in the category of "excellence in sustainability". The Pioneers of Change summit (16-20 November) aims to explore the innovation...

Envoy Textiles declares 5.0pc interim cash dividend

Envoy Textiles has declared 5.0 per cent interim cash dividend for the year ending on June 30, 2021 based on un-audited financial statements for the first quarter (Q1) ended on September 30, 2020.Record date for entitlement of interim cash dividend is on December 8, according to a disclosure posted on...

National AgriCare Export signs deal with Expressions Ltd

National AgriCare Export and Import Ltd signed an agreement with Expressions Ltd to engage the agency for their branding and promotion purpose. The signing ceremony was held in the city recently, said a statement. Managing Director of National AgriCare Export and Import Ltd KSM Mostafizur Rahman and Chairman and Managing...

Jamuna Bank and Jamuna Life Insurance settled insurance coverage claim

Jamuna Bank Limited and Jamuna Life Insurance Limited settled the insurance coverage claim of a nominee of a Credit Card coverage scheme user, who died from normal diseases. As per the terms of the Credit Shield scheme, in case of death or any permanent disability of the customer, the full...

Modhumoti Bank signed MoU with GLG Assets

Modhumoti Bank Limited signed MoU with GLG Assets Limited on Tuesday at Modhumoti Bank Head Office in the city. In presence of Kazi Ahsan Khalil, DMD & Chief Business Officer of Modhumoti Bank Limited, Md. Shaheen Howlader, Head of Corporate & Investment Banking Division of the bank, and Md. Shoriful...

Pragati Life Insurance signed group insurance contract with Dhaka Resort

Pragati Life Insurance Limited signed group insurance contract with Dhaka Resort. Chandra Shekhar Das, FCA, Additional Managing Director (F&A) of Pragati Life and Engr. Shajibul-Al-Rajib, Chairman of Dhaka Resort signed the contract on behalf of their organisations. Under the agreement Pragati Life will provide group life insurance coverage to visitors...

Bashundhara Group Managing Director Sayem Sobhan Anvir

Bashundhara Group Managing Director Sayem Sobhan Anvir paid a courtesy call on Bangladesh Petroleum Corporation (BPC) Chairman Md Abu Bakar Siddique at the head office of BPC in the city on Tuesday. They exchanged pleasantries and discussed various relevant issues during the meeting.

Russian online retailer Ozon targets $1 bln in US IPO

MOSCOW, Nov 18 (Reuters): Russian online retailer Ozon Holdings aims to raise nearly $1 billion in a US initial public offering (IPO) to capitalise on an e-commerce boom in Russia due to the coronavirus pandemic.Like most e-commerce firms, Ozon has seen online orders surge as pandemic restrictions have kept people...