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

Reckitt Benckiser's 2022 profit falls on declining demand for hygiene products

Reckitt Benckiser Bangladesh reported an 18.4 per cent year-on-year drop in profit in 2022, mainly for costlier raw materials and a sharp devaluation of local currency against the dollar.The listed multinational company that sells health and hygiene-related products logged an annual profit of Tk 659 million last year. As income...

Forex loss halves Robi's profit in 2022, snatching away its "moment of glory"

Foreign exchange loss dealt a heavy blow to Robi Axiata's financials as it wiped out 49 per cent of its profit after tax in 2022.The gradual fall of the taka against the dollar eat up Tk 1.79 billion, cutting down Robi's net profit to Tk 1.83 billion in 2022, the...

Most stocks tumble as investors stay aloof

The premier bourse recorded lowest turnover on Sunday since January 9 this year as investor participation declined significantly. The Dhaka Stock Exchange (DSE) posted a turnover of Tk 2.85 billion, which was 16.22 per cent less than the turnover of the previous session. Most securities experienced price erosion. Earlier, the...

EBL, Nitol Motors launch co-brand prepaid card

EBL Visa Nitol-Niloy Co-brand Prepaid Card was launched at a ceremony at the Pan Pacific Sonargaon Hotel, Dhaka on Sunday.The co-brand card, designed for Nitol Motors Ltd., a concern of Nitol-Niloy Group, in association with Visa, comes with a host of features and benefits for the cardholders, said a press...

NCC Bank holds annual business conference

The two-day annual business conference of executives and branch managers of NCC Bank Ltd was held at Grand Sultan Tea Resort & Golf in Sreemangal, in order to find ways to boost the bank's business by rendering better customer services. Chairman of the bank Md Abul Bashar inaugurated the conference...

Export Import Bank of Bangladesh opened 148th branch

Export Import Bank of Bangladesh Limited opened its 148th branch on Jamal Khan Road in Chattogram city on Saturday. Managing Director and CEO of the bank Mohammad Feroz Hossain inaugurated the branch as the chief guest while Additional Deputy Managing Director and Chittagong Regional Manager Dr S M Abu Zaker...

US bond funds see first weekly outflow in six weeks on rate hike concerns

US bond funds witnessed their first weekly net selling in six weeks in the seven days to Feb. 15 as bond yields climbed on concerns over more Federal Reserve tightening after data showed resilient inflation, reports Reuters.A report from the Labor Department on Thursday showed monthly producer prices accelerated in...

Saudi Arabia's venture capital funding nears $1b mark

CAIRO, Feb 19 (Arab News): Driven by Saudi Arabia's unprecedented growth in its startup ecosystem, the Kingdom's venture capital funding increased by 72 percent last year compared to 2021 with investments reaching $987 million across 144 deals, according to MAGNiTT.However, the leading startup and venture capital data firm cautioned that,...

Allianz swings to quarterly profit in rebound from funds debacle

FRANKFURT, Feb 19 (Reuters): Germany's Allianz on Friday swung to a fourth-quarter net profit, rebounding after taking big charges a year earlier for a US funds scandal and as a higher investment margin boosted its life and health insurance business.But its asset management division - which includes bond giant PIMCO...